Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) — The “Used Restaurant Equipment Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
The used restaurant equipment market size has grown strongly in recent years. It will grow from $5.9 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to several factors, the appeal of cost-effective solutions, high turnover rates in the restaurant industry, a focus on minimizing startup costs, increased awareness and emphasis on sustainability, and changes in industry regulations and compliance standards.
The used restaurant equipment market size is expected to see strong growth in the next few years. It will grow to $8.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth during the forecast period can be attributed to the availability of high-quality alternatives at lower costs, the presence of high-end brands in the market, the rise of online marketplaces, increasing demand for customization, and economic downturns and uncertainties.
Key trends expected to drive growth include technological advancements, a greater emphasis on equipment longevity, innovations in the refurbishment process, a rise in the adoption of leasing models, and improved transparency in equipment sourcing and sales.
The growth of the used restaurant equipment market is expected to be driven by the increasing number of food establishments. This rise is fueled by growing consumer demand for diverse dining options and convenience. Used restaurant equipment offers a cost-effective way for food establishments to obtain the necessary tools and appliances without substantial capital investment. For example, in July 2024, the Bureau of Labor Statistics reported that the number of food services and drinking place establishments in the US reached 711,159 in the fourth quarter of 2023, up from 695,817 in the first quarter of 2023. This growing number of food establishments is boosting the used restaurant equipment market.
Key players in the used restaurant equipment market are focusing on innovative products, such as green lean cleaning machines, to promote sustainability and reduce operational costs. A green lean cleaning machine is an environmentally friendly, highly efficient device designed to clean using minimal resources and sustainable practices to cut waste and energy consumption. For instance, in March 2021, Winterhalter, a Germany-based company known for professional ware washing equipment, launched the CTR Energy Conveyor Dishwasher. This machine is designed to minimize energy, water, and chemical use while improving kitchen hygiene and efficiency. It operates steam-free and recycles exhaust air heat to pre-heat cold inlet water, thus reducing energy consumption and operating costs. This advancement supports sustainability in the used restaurant equipment market, influences consumer preferences, and helps with regulatory compliance.
In April 2024, Joe Warren & Sons Co. Inc., a US-based food equipment service company, acquired Able Restaurant Equipment Service Inc. for an undisclosed amount. This acquisition allows Joe Warren & Sons to enhance its service offerings in New Hampshire by integrating refrigeration services from Able’s existing portfolio. It also helps Joe Warren & Sons expand and strengthen its market presence in the state. Able Restaurant Equipment Service Inc., based in the US, specializes in the sales, service, and maintenance of restaurant equipment.
Major companies operating in the used restaurant equipment market are eBay Inc., OLX Group, IndiaMART, WebstaurantStore, Central Restaurant Products, SilverChef, Federal Hospitality Equipment, ExportersIndia, ACityDiscount Restaurant Equipment, Machineseeker Group, Rose’s Equipment & Supply, Dine Company, Quikr, Lauro Restaurant Equipment, Bid on Equipment, Jeans Restaurant Supply, Gillette Restaurant Equipment, The Kitchen Spot, Kitchen Guys, City Restaurant Supply, Aimco Equipment Company LLC, Southeast Restaurant Equipment, iFoodEquipment.ca., Texas Restaurant Supply, Alternative Sales Corp.
This report focuses on used restaurant equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Markets Covered:
- By Product: Kitchen Purpose Equipment; Cooking Equipment; Food And Beverage Preparation Equipment; Refrigeration Equipment; Ware Washing Equipment; Food Holding And Storing Equipment; Other Products
- By Distribution Channel: Online; Offline
- By End Use: Full-Service Restaurants And Hotels; Quick-Service Restaurants And Pubs; Catering; Other End Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $6.34 Billion |
| Forecasted Market Value (USD) by 2028 | $8.51 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Used Restaurant Equipment Market Characteristics
3. Used Restaurant Equipment Market Trends and Strategies
4. Used Restaurant Equipment Market – Macro Economic Scenario
5. Global Used Restaurant Equipment Market Size and Growth
5.1. Global Used Restaurant Equipment Market Drivers and Restraints
5.2. Global Used Restaurant Equipment Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Used Restaurant Equipment Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Used Restaurant Equipment Market Segmentation
6.1. Global Used Restaurant Equipment Market, Segmentation by Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Kitchen Purpose Equipment
- Cooking Equipment
- Food and Beverage Preparation Equipment
- Refrigeration Equipment
- Ware Washing Equipment
- Food Holding and Storing Equipment
- Other Products
6.2. Global Used Restaurant Equipment Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global Used Restaurant Equipment Market, Segmentation by End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Full-Service Restaurants and Hotels
- Quick-Service Restaurants and Pubs
- Catering
- Other End Users
7. Used Restaurant Equipment Market Regional and Country Analysis
7.1. Global Used Restaurant Equipment Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Used Restaurant Equipment Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Used Restaurant Equipment Market Breakdown
30. Used Restaurant Equipment Market Competitive Landscape and Company Profiles
30.1. Used Restaurant Equipment Market Competitive Landscape
30.2. Used Restaurant Equipment Market Company Profiles
30.2.1. EBay Inc.
30.2.2. OLX Group
30.2.3. IndiaMART
30.2.4. WebstaurantStore
30.2.5. Central Restaurant Products
31. Used Restaurant Equipment Market Other Major and Innovative Companies
31.1. SilverChef
31.2. Federal Hospitality Equipment
31.3. ExportersIndia
31.4. ACityDiscount Restaurant Equipment
31.5. Machineseeker Group
31.6. Rose’s Equipment & Supply
31.7. Dine Company
31.8. Quikr
31.9. Lauro Restaurant Equipment
31.10. Bid on Equipment
31.11. Jeans Restaurant Supply
31.12. Gillette Restaurant Equipment
31.13. The Kitchen Spot
31.14. Kitchen Guys
31.15. City Restaurant Supply
32. Global Used Restaurant Equipment Market Competitive Benchmarking
33. Global Used Restaurant Equipment Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Used Restaurant Equipment Market
35. Used Restaurant Equipment Market Future Outlook and Potential Analysis
35.1 Used Restaurant Equipment Market in 2028 – Countries Offering Most New Opportunities
35.2 Used Restaurant Equipment Market in 2028 – Segments Offering Most New Opportunities
35.3 Used Restaurant Equipment Market in 2028 – Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/stf03f
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- Used Restaurant Equipment Market
