3 Reasons the Galley Equipment Market is Booming
Decision makers in the transportation industry know how difficult it can be to create galleys that are efficient, long-lasting, and compact. This challenge created the need for innovative suppliers. Perhaps it’s no wonder that the galley equipment market is expected to expand rapidly in the coming years.
In 2015, experts valued the market at $5.17 billion. By 2022, that number is expected to be at $6.8 billion with a CAGR of 5.1 percent. That kind of growth is no accident. While many factors contribute to the expansion of this industry, these are the three primary influences:
- High demand for durability
- Increased need for modular, customizable equipment
- A significant rise in water and air craft manufacturing and retrofitting
Buyers Need Long-Lasting Equipment
Companies with ships and airplanes continue to look for ways to save money. Many businesses have discovered that high-quality, durable galley equipment can lower costs in the long run. After all, galleys are often forced to run efficiently in harsh conditions. Instead of paying to repair or replace broken equipment, companies can use that cash where they need it.
As such, companies like Cospolich have risen to the challenge to create durable equipment without sacrificing functionality. As the demand for such equipment continues to grow, so will the market.