During the recession, consumer spending plummeted as people were cash strapped because of high unemployment and low disposable incomes. However, after 2010, consumers began dining out at restaurants and traveling more, boosting industry demand as restaurant and hotel owners started to feel more comfortable investing in new equipment. In the upcoming years, more companies will look to invest in technologically advanced and energy-efficient equipment such as ovens, deep fryers and heated cabinets. Domestic travel is also expected to pick up this year, which will continue to raise industry demand. Together, these trends will increase revenue and profitability in the five years to 2020.
Companies in this industry distribute, sell and repair commercial machines and equipment used in restaurants and stores. These products include cooking equipment, dishwashing equipment, balances and scales, soda fountains and food-service fixtures and signs. This industry excludes the wholesaling of refrigeration equipment, which is included in the Refrigeration Equipment Wholesaling industry (IBISWorld report 42374).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.