Demand for airport catering trucks in Asia Pacific continues to be optimistic, as the number of air travelers witnesses an increase. According to a recent report published by Fact.MR on global airport catering trucks market, improvement of economic activities in many developing countries of the Asia Pacific region has influenced the development of airport infrastructure, and in turn, provided several potential growth opportunities of this market.
According to the Fact.MR’s study, growing number of airports lined with notable investment in airport infrastructure development in emerging economies of China and India will be major factors driving the sales of airport catering trucks in these regions. By 2025, China is expected to build around 136 new airports which will be highly impactful to the growth of airport catering trucks market. With more number of air travel passengers, aircraft manufacturers are targeting to improve their capacities to cater which directly contributes to the demand for airport catering services and support such as airport catering trucks. In addition, the market performance is expected to be resurgent in India and Oceania.
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In the recent years, booming popularity of sports has catalyzed the adoption of air travel. For instance, Japan is focusing on enhancing its airport infrastructure for the upcoming 2020 Olympics which will possibly attract more than 40 million tourists. It poses a promising opportunity for the growth of airport catering trucks market. Furthermore, attracting larger overseas visitors with tourism is projected to augment the sales of airport catering trucks in this region.
The global outlook of the airport catering trucks market is likely to remain as positive as the Asia Pacific market. Fact.Mr’s study offers key insights on the dynamics and growth prospects of the global airport catering truck market for the forecast period 2018-2028. In terms of value, the market is expected to witness a steady growth, expanding at a significant CAGR of 5.7%. By volume, over 3 Bn units of airport catering trucks are likely to be sold by the end of the forecast period.
Although the adoption of airport catering trucks is emerging significantly in the Asia Pacific region, majority of the global market has been envisaged to remain concentrated in developed countries of North America and Europe. Regionally, North America will possibly account for the highest revenue share in global airport catering trucks market, as US has the largest market for airport catering services with more than 14,000 airports.
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Despite slightly emerging demand for refrigerated trucks for longer storage and transportation of food products, preference is inclined towards airport catering trucks without refrigeration, due to high pricing pressure of the refrigerated variants. Fact.Mr’s study finds that the sales of hybrid airport catering trucks will dominated over its electric counterpart during the forecast period. However, owing to growing concerns about environmental issues and carbon dioxide emissions, Fact.MR foresees a significant demand for electric airport catering expanding at a higher CAGR in the coming years.
The report further highlights insights of key players participating in global airport catering trucks market. Some of them include Global Ground Support Equipment LLC, DOLL Fahrzeugbau GmbH, Jiangsu Tianyi Airport Special Equipment Co. Ltd., WEIHAI Guangtai Airport Equipment Co., Ltd., Alvest Group, Mallaghan Engineering Ltd., Eagle Industries DWC-LLC, Cartoo GSE, and Sovam.
Mr. Rohit Bhisey
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