The restaurant equipment market is projected to have a CAGR of 7.9% by 2033. According to FMI, the market is expected to expand from US$ 4,093.8 million in 2023 to US$ 8,756.63 million by 2033. With a lower demand rate of 5.4% from 2018 to 2022, the market had a worth of US$ 3,815.24 million in 2022.
As a result of the rapidly accelerating industrial growth, the income levels of the working population are rising, coupled with an increase in purchasing power. Due to this, more people are eating out-among other places, in hotels, full-service restaurants, and pubs-which is helping the restaurant equipment market grow.
The increased consumer propensity to spend money on appliances for the home kitchen that save time and labor, such as fryers, ovens, and dishwashers, is also boosting the demand for restaurant equipment.
Additionally, the industry is expanding as casual dining becomes more popular in fast-service restaurants, particularly among teenagers and younger people. Due to the fast-paced and stressful lifestyles of the millennial and Gen-Z population, finger and fast food consumption is also on the rise.
Some of the key restaurant equipment market drivers are rising takeout demand, changing food consumption patterns, and the expanding hotel sector. Furthermore, due to factors including advancing digitization, the demand for environmentally friendly and sustainable equipment is rising.
It is anticipated that there is likely be significant growth potential in the restaurant equipment market soon. Kitchen furniture needs are changing, and the market has quickly changed as a result.
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Consumer adoption of energy-efficient appliances is made easier by rising consumer awareness of energy use and environmentally friendly activities, which benefits the sales of restaurant equipment.
Global standards for energy usage place a strong emphasis on lowering GreenHouse Gas (GHG) emissions in order to lessen the growing effects of climate change. End users increasingly favor appliances with the ENERGY STAR label, which denotes the equipment's high energy efficiency and lowers operating and maintenance expenses in cafés, restaurants, and institutional kitchens.
According to data from the Energy Star program of the USA Environmental Protection Agency (EPA), end-user operators who employ food service equipment with the ENERGY STAR designation can save around 340 MMBTU annually, or $5,300.
Due to their increased production efficiency and cheap running costs, restaurant equipment adoption is considerable. They are mostly used in food service enterprises. The increased demand for food items prepared using modern restaurant equipment and the introduction of restaurant equipment with ENERGY STAR certification would both help the adoption of these products.
| Attributes | Details |
|---|---|
| Restaurant Equipment Market CAGR (2023 to 2033) | 7.9% |
| Restaurant Equipment Market Size (2023) | US$ 4,093.8 million |
| Restaurant Equipment Market Size (2033) | US$ 8,756. 63 million |
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Food safety is the primary goal of any restaurant equipment manufacturer, and the creation of these devices demands competent workers who can run both manual and automated machinery.
The integration of automated food service equipment is more expensive and is accompanied by an increase in the need for skilled laborers and other automated facilities. As a result, the machines' overall setup and maintenance costs rise, which restricts the restaurant equipment market expansion.
With a market share of 32.6%, cooking equipment dominates the restaurant equipment market during the forecast period.
The need for cooking equipment in general and convenience stores, full-service and quick-service restaurants, etc., is expected to increase tremendously. The rise in popularity of inventive cooking and baking has given consumers a range of dining options. Restaurants engage in various types of cooking equipment as a result, which spurs the expansion of the restaurant equipment market.
Due to the rising demand for ware washing equipment in commercial kitchens to maintain a clean environment, and utensils for offering clients safe food products, this market is predicted to increase significantly.
Similar to this, it is predicted that food holding and warming equipment is likely to continue to develop as a result of the need to store vast quantities of food products.
Hotels are anticipated to experience considerable growth as a result of the youth’s desire for such lounges. The global restaurant equipment industry is dominated by the hotel sector, which holds a 37.1% market share.
The adoption of new restaurant equipment technologies for cooking, storing, and serving food in full-service restaurants has been aided by consumers' preferences for novel cuisines at affordable rates.
However, due to the slow adoption of restaurant equipment, the general and retail shop segment is likely to experience sustained expansion.
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Due to rising investments, particularly from the end-use industries, the US restaurant equipment market is anticipated to have the largest market share of 28.5% by 2033.
With more hotels, restaurants, and business travel, the market for restaurant equipment is expanding. According to the Restaurant Performance Index of the National Restaurant Association, the USA restaurant industry was worth roughly USD 860 billion in 2019.
The USA has over 1 million restaurants, which is a significant growth driver for the demand for restaurant equipment. Revenue for hotels, restaurants and food service businesses rises when consumers spend more of their discretionary cash on non-essential luxury items like travel and dining out.
The demand for restaurant and hotel equipment distributors rises as hotels and restaurants can expand their businesses and replace their current equipment as more money comes in, giving new opportunities to the restaurant equipment market players.
UK restaurant equipment is expected to develop at a 4.9% CAGR by 2033.
The rapidly expanding hotel sector around the world is fueling Europe's restaurant equipment market expansion. The exponential rise in the number of food service businesses, notably in the UK, can also be linked to the rising need for this equipment.
With more hotels and restaurants opening up and the travel and tourism business growing throughout the continent, the food service industry in Europe is predicted to experience substantial market expansion.
Restaurants are increasingly embracing technologically advanced food service equipment to improve their offerings, driving the demand for restaurant equipment. Additionally, it is projected that during the next few years, there is likely to be a huge demand for restaurant equipment due to the increased demand for bakery and confectionery items in Germany, the UK, and France.
| Countries | Market Share/CAGR |
|---|---|
| Japan | 3.5% |
| Australia | 2.0% |
| China | 4.9% (CAGR) |
| India | 6.9% (CAGR) |
The Asia Pacific market is expected to rise exponentially over the forecast period as a result of the country's, China's, and Japan's developing hospitality industries. According to data provided by the National Restaurant Association of India (NRAI), chances for restaurant equipment market expansion exist, as the country's food service sector is predicted to reach over USD 843 billion by the end of 2023.
In addition, the rising demand for frozen food items in China and Japan is anticipated to fuel regional market expansion for restaurant equipment. Additionally, restaurants are including a variety of cuisines on their menus, since more and more patrons are trying new meals and developing a taste for various cuisines.
Restaurants' preference for modern equipment encourages manufacturers of restaurant equipment to advance their technological concepts.
During the forecast period, there is a great need for modern restaurant equipment due to rising awareness about food safety and smart kitchen gadgets. As a result, the development of IoT, Big Data, and Industry 4.0 has sparked the growth of smart food companies that produce technology-based machinery.
This assists restaurants in achieving the greatest degree of food safety while lowering costs, reducing waste, improving traceability, and minimizing risks related to diverse food serving ways that are quickly becoming a major restaurant equipment market trend.
To improve the customer experience and grab business opportunities in the restaurant equipment market, manufacturers are creating products based on AI and IoT technology. For instance, Samsung introduced a 21-inch IoT-enabled refrigerator with Bixby voice control in July 2018.
According to the safety guidelines established by numerous regulatory authorities worldwide, businesses are required to sell restaurant equipment that has been certified and tested. These safety requirements seek to establish a secure atmosphere for patrons and restaurant owners alike.
Equipment safety standards have been set by the National Sanitation Foundation (NSF), a non-profit organization in the USA that performs product testing, inspections, and certifications while ensuring that sanitation and food safety standards are upheld by the end-use industry.
Standards have been created for the type of material utilized, the design, and the architecture of the equipment, with food safety being given top emphasis.
Quick-service restaurants include Subway, McDonald's, Burger King, KFC, Taco Bell, and Wendy's. A rise in the number of quick-service restaurants has led to an increase in the demand for cooking appliances like fryers and ovens, due to changes in how people eat and how busy they are, as well as an increase in disposable income, the number of women working and increasing digitalization.
All of these elements consequently have a big impact on the sales of the restaurant equipment. The Vollrath Company, LLC unveiled a new line of frozen beverage granita machines in May 2018. These small-sized machines are used to make a wide range of milk-based, cold, frozen, and high-margin beverages, such as ice tea, coffee, frozen cocktails, granitas, smoothies, and many more.
The increasing use of sustainable technology equipment has forced major players in restaurant equipment to concentrate on business methods like partnerships, mergers, and acquisitions that are advantageous to their companies.
To combat food waste by grocery stores, hypermarkets, and supermarkets, major manufacturers are working with solution providers to develop technology that is customer-centric.
Recent Developments in the Restaurant Equipment Market:
The restaurant equipment market is estimated to record a CAGR of 7.9% during the forecast period.
The restaurant equipment market size is predicted to be valued at US$ 8,756.6 million by 2033.
The restaurant equipment market share is valued at US$ 4,093.8 million in 2023.
North America is expected to lead the restaurant equipment market with a share of 28.5% by 2033.
Cooking Equipment dominates the restaurant equipment market with a share of 32.6% by 2033.
1. Executive Summary | Restaurant Equipment Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Global Average Pricing Analysis Benchmark
7. Global Market Demand in Value (US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global GDP Growth Outlook
8.1.2. Global Population Growth Outlook
8.1.3. Global Food Service Equipment Market Outlook
8.1.4. Urbanization growth outlook
8.1.5. Food and Beverages Market Overview
8.1.6. Parent Market Overview
8.1.7. Other macro-economic factors
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. GDP Growth forecast
8.2.3. Food & Beverage Industry Overview
8.2.4. Population Growth Outlook
8.2.5. Parent Market Growth Outlook
8.2.6. Other Key Forecast factors
8.3. Value Chain
8.3.1. Product Manufacturers
8.3.2. List of Probable End Users
8.4. COVID-19 Crisis - Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
9. Global Market Analysis 2018 to 2022 and Forecast 2022 to 2033, by Equipment Type
9.1. Introduction / Key Findings
9.2. Historical Market Application (US$ Million) and Volume Analysis By Equipment Type, 2018 to 2022
9.3. Current and Future Market Application (US$ Million) and Volume Analysis and Forecast By Equipment Type, 2023 to 2033
9.3.1. Cooking Equipment
9.3.1.1. Freezer
9.3.1.2. Countertop
9.3.1.3. Burner
9.3.1.4. Baskets & Bowls
9.3.1.5. Others
9.3.2. Restaurant Work Tables
9.3.3. Food Holding and Warming
9.3.4. Food Preparation Equipment
9.4. Market Attractiveness Analysis By Equipment Type
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application
10.1. Introduction / Key Findings
10.2. Historical Market Application (US$ Million) and Volume Analysis By Application, 2018 to 2022
10.3. Current and Future Market Application (US$ Million) and Volume Analysis and Forecast By Application, 2023 to 2033
10.3.1. Diner
10.3.2. Hotels
10.3.3. Fast Food Chains
10.3.4. Food Truck, Cart, Or Stand
10.3.5. Cafe
10.3.6. Others
10.4. Market Attractiveness Analysis By Application
11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
11.1. Introduction
11.2. Historical Market Application (US$ Million) and Volume Analysis By Region, 2018 to 2022
11.3. Current Market Application (US$ Million) and Volume Analysis and Forecast By Region, 2023 to 2033
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. South Asia Pacific
11.3.5. East Asia
11.3.6. Middle East & Africa
11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
12.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
12.4.1. By Country
12.4.1.1. United States of America
12.4.1.2. Canada
12.4.2. By Equipment Type
12.4.3. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Equipment Type
12.5.3. By Application
12.6. Market Trends
12.7. Key Market Participants - Intensity Mapping
12.8. Drivers and Restraints - Impact Analysis
13. Latin America Market Analysis 2018 to 2022 and Forecast 2022 to 2033
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
13.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
13.4.1. By Country
13.4.1.1. Brazil
13.4.1.2. Mexico
13.4.1.3. Rest of Latin America
13.4.2. By Equipment Type
13.4.3. By Application
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Equipment Type
13.5.3. By Application
13.6. Market Trends
13.7. Key Market Participants - Intensity Mapping
13.8. Drivers and Restraints - Impact Analysis
14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
14.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
14.4.1. By Country
14.4.1.1. Germany
14.4.1.2. Italy
14.4.1.3. France
14.4.1.4. United Kingdom
14.4.1.5. Spain
14.4.1.6. BENELUX
14.4.1.7. Russia
14.4.1.8. Rest of Europe
14.4.2. By Equipment Type
14.4.3. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Equipment Type
14.5.3. By Application
14.6. Market Trends
14.7. Key Market Participants - Intensity Mapping
14.8. Drivers and Restraints - Impact Analysis
15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
15.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
15.4.1. By Country
15.4.1.1. India
15.4.1.2. ASEAN
15.4.1.3. Oceania
15.4.1.4. Rest of South Asia & Pacific
15.4.2. By Equipment Type
15.4.3. By Application
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Equipment Type
15.5.3. By Application
15.6. Market Trends
15.7. Key Market Participants - Intensity Mapping
15.8. Drivers and Restraints - Impact Analysis
16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
16.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.2. By Equipment Type
16.4.3. By Application
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Equipment Type
16.5.3. By Application
16.6. Market Trends
16.7. Key Market Participants - Intensity Mapping
16.8. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Application (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
17.4. Market Application (US$ Million) and Volume Forecast By Market Taxonomy, 2023 to 2033
17.4.1. By Country
17.4.1.1. GCC Countries
17.4.1.2. Turkey
17.4.1.3. Northern Africa
17.4.1.4. South Africa
17.4.1.5. Rest of Middle East and Africa
17.4.2. By Equipment Type
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Equipment Type
17.5.3. By Application
17.6. Market Trends
17.7. Key Market Participants - Intensity Mapping
17.8. Drivers and Restraints - Impact Analysis
18. Country-wise Market Analysis
18.1. USA Market Analysis
18.1.1. By Equipment Type
18.1.2. By Application
18.2. Canada Market Analysis
18.2.1. By Equipment Type
18.2.2. By Application
18.3. Mexico Market Analysis
18.3.1. By Equipment Type
18.3.2. By Application
18.4. Brazil Market Analysis
18.4.1. By Equipment Type
18.4.2. By Application
18.5. Germany Market Analysis
18.5.1. By Equipment Type
18.5.2. By Application
18.6. Italy Market Analysis
18.6.1. By Equipment Type
18.6.2. By Application
18.7. France Market Analysis
18.7.1. By Equipment Type
18.7.2. By Application
18.8. United Kingdom Market Analysis
18.8.1. By Equipment Type
18.8.2. By Application
18.9. Spain Market Analysis
18.9.1. By Equipment Type
18.9.2. By Application
18.10. Russia Market Analysis
18.10.1. By Equipment Type
18.10.2. By Application
18.11. BENELUX Market Analysis
18.11.1. By Equipment Type
18.11.2. By Application
18.12. China Market Analysis
18.12.1. By Equipment Type
18.12.2. By Application
18.13. Japan Market Analysis
18.13.1. By Equipment Type
18.13.2. By Application
18.14. S. Korea Market Analysis
18.14.1. By Equipment Type
18.14.2. By Application
18.15. India Market Analysis
18.15.1. By Equipment Type
18.15.2. By Application
18.16. ASEAN Market Analysis
18.16.1. By Equipment Type
18.16.2. By Application
18.17. Oceania Market Analysis
18.17.1. By Equipment Type
18.17.2. By Application
18.18. Turkey Market Analysis
18.18.1. By Equipment Type
18.18.2. By Application
18.19. GCC Countries Market Analysis
18.19.1. By Equipment Type
18.19.2. By Application
18.20. South Africa Market Analysis
18.20.1. By Equipment Type
18.20.2. By Application
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Share Analysis of Top Players
19.3. Market Presence Analysis
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
20.3.1. Winco
20.3.1.1. Overview
20.3.1.2. Product Portfolio
20.3.1.3. Profitability by Market Segments (Product/Channel/Region)
20.3.1.4. Sales Footprint
20.3.1.5. Strategy Overview
20.3.2. Royal Industries
20.3.2.1. Overview
20.3.2.2. Product Portfolio
20.3.2.3. Profitability by Market Segments (Product/Channel/Region)
20.3.2.4. Sales Footprint
20.3.2.5. Strategy Overview
20.3.3. Waring
20.3.3.1. Overview
20.3.3.2. Product Portfolio
20.3.3.3. Profitability by Market Segments (Product/Channel/Region)
20.3.3.4. Sales Footprint
20.3.3.5. Strategy Overview
20.3.4. Nemco Food Equipment
20.3.4.1. Overview
20.3.4.2. Product Portfolio
20.3.4.3. Profitability by Market Segments (Product/Channel/Region)
20.3.4.4. Sales Footprint
20.3.4.5. Strategy Overview
20.3.5. Krowne Metal
20.3.5.1. Overview
20.3.5.2. Product Portfolio
20.3.5.3. Profitability by Market Segments (Product/Channel/Region)
20.3.5.4. Sales Footprint
20.3.5.5. Strategy Overview
20.3.6. GSW USA
20.3.6.1. Overview
20.3.6.2. Product Portfolio
20.3.6.3. Profitability by Market Segments (Product/Channel/Region)
20.3.6.4. Sales Footprint
20.3.6.5. Strategy Overview
20.3.7. Serv-Ware
20.3.7.1. Overview
20.3.7.2. Product Portfolio
20.3.7.3. Profitability by Market Segments (Product/Channel/Region)
20.3.7.4. Sales Footprint
20.3.7.5. Strategy Overview
20.3.8. TableCraft Products
20.3.8.1. Overview
20.3.8.2. Product Portfolio
20.3.8.3. Profitability by Market Segments (Product/Channel/Region)
20.3.8.4. Sales Footprint
20.3.8.5. Strategy Overview
20.3.9. Thunder Group
20.3.9.1. Overview
20.3.9.2. Product Portfolio
20.3.9.3. Profitability by Market Segments (Product/Channel/Region)
20.3.9.4. Sales Footprint
20.3.9.5. Strategy Overview
20.3.10. Padela
20.3.10.1. Overview
20.3.10.2. Product Portfolio
20.3.10.3. Profitability by Market Segments (Product/Channel/Region)
20.3.10.4. Sales Footprint
20.3.10.5. Strategy Overview
20.3.11. MET
20.3.11.1. Overview
20.3.11.2. Product Portfolio
20.3.11.3. Profitability by Market Segments (Product/Channel/Region)
20.3.11.4. Sales Footprint
20.3.11.5. Strategy Overview
20.3.12. Crown Brands
20.3.12.1. Overview
20.3.12.2. Product Portfolio
20.3.12.3. Profitability by Market Segments (Product/Channel/Region)
20.3.12.4. Sales Footprint
20.3.12.5. Strategy Overview
20.3.13. Alto-Shaam, Inc.
20.3.13.1. Overview
20.3.13.2. Product Portfolio
20.3.13.3. Profitability by Market Segments (Product/Channel/Region)
20.3.13.4. Sales Footprint
20.3.13.5. Strategy Overview
20.3.14. AMTek Microwaves
20.3.14.1. Overview
20.3.14.2. Product Portfolio
20.3.14.3. Profitability by Market Segments (Product/Channel/Region)
20.3.14.4. Sales Footprint
20.3.14.5. Strategy Overview
20.3.15. American Range
20.3.15.1. Overview
20.3.15.2. Product Portfolio
20.3.15.3. Profitability by Market Segments (Product/Channel/Region)
20.3.15.4. Sales Footprint
20.3.15.5. Strategy Overview
20.3.16. APW Wyott
20.3.16.1. Overview
20.3.16.2. Product Portfolio
20.3.16.3. Profitability by Market Segments (Product/Channel/Region)
20.3.16.4. Sales Footprint
20.3.16.5. Strategy Overview
20.3.17. Dragon Food Equipment Inc.
20.3.17.1. Overview
20.3.17.2. Product Portfolio
20.3.17.3. Profitability by Market Segments (Product/Channel/Region)
20.3.17.4. Sales Footprint
20.3.17.5. Strategy Overview
*Note: The list is not exhaustive in nature and can be revised during the deep study of the market
21. Assumptions and Acronyms Used
22. Research Methodology
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Restaurant Equipment Market
