A Brief Report on the Airport Catering Truck Market
The business intelligence report for the Airport Catering Truck market offers a comprehensive overview of the essential aspects regarding product classification, crucial definitions, and other industry-specific parameters.
the Airport Food Truck Market The report also covers key factors associated with current events such as mergers and acquisitions, partnerships and new product launches. Additionally, the research provides a solid foundation for gathering a plethora of information that potential customers can use to improve their returns and reduce costs. Representing the data on Airport Catering Truck market segmentation by type, application, and geography offers a critical perspective on what manufacturers are looking for in the foreseeable time frame.
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The airport catering truck market continues to experience steady growth as the increasing demand for aircraft ground support creates lasting opportunities for stakeholders. Airport authorities and airlines continue to invest in infrastructure development, which in turn increases demand for airport catering trucks around the world, according to a new study.
Driven by the increasing development of airports in developed and emerging economies, the airport catering truck market is likely to grow at a CAGR of 5.7% in terms of value, reveals a new study compiled by Fact.MR. In terms of volume, the report predicts that more than 3 billion airport food trucks will be sold by 2028.
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Developed economies continue to be at the forefront of demand
With increasing spending on aviation infrastructure in developed countries in North America and Europe, airport catering truck sales volume is expected to remain concentrated in the United States, Germany, United Kingdom and Russia. The North America region is at the forefront of global demand, followed by European countries – the growing popularity of air travel in developing countries complements the demand.
The growing focus on improving airport infrastructure, coupled with an increasing number of airports in the emerging economies of India and China, has been instrumental in driving sales growth in these regional markets. China is expected to increase demand for airport food trucks – the Chinese government plans to develop 136 new airports by 2025. Sales are also expected to pick up in Oceania and India.
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Price pressures continue to fuel demand for unrefrigerated trucks over refrigerated variants
Refrigeration has always been a major concern when it comes to transporting food products. Refrigeration comes at high costs, which in turn increases the overall price of airport catering trucks. The preference for food trucks at unrefrigerated airports has traditionally remained higher due to pricing pressures, and the status quo is likely to remain unchanged during the assessment period, 2018-2028.
Sales of food trucks at hybrid airports nearly 19x of its electric counterpart
The report finds that hybrid catering trucks remain the preferred option for end users. The market valuation of hybrid airport catering trucks is around 19 times higher than that of electric catering trucks. With increasing end-user demand for fuel efficiency and economy flexibility, coupled with engine robustness and horsepower, hybrid airport catering trucks continue to be an economically feasible option for end users. . However, with growing environmental concerns and environmental safety regulations set by the EPA (Environment Protection Act) regarding carbon dioxide emissions, electric food trucks are expected to experience significant demand and are poised to expand to a higher value CAGR, albeit from a low base.
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The report finds that participants are focusing on launching electric food trucks to meet their growing demand. In addition, manufacturers aim to consolidate their position in the airport catering truck business, in particular in emerging economies given their significant growth potential. Key players include Alvest Group, Global Ground Support Equipment LLC, Mallaghan Engineering Ltd., DOLL Fahrzeugbau GmbH, Eagle Industries DWC-LLC, Jiangsu Tianyi Airport Special Equipment Co., Ltd., Cartoo GSE, WEIHAI Guangtai Airport Equipment Co., Ltd. and Sovam.
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