PORTLAND, OR, May 26, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global wine production machinery market was pegged at $2.0 billion in 2019, and is anticipated to reach $2.83 billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.
Surge in number of wineries, surge in wine consumption, and considerable replacement rate in the developed market have boosted the growth of the global wine production machinery market. On the contrary,high capital investment and maintenance costs hamper the market growth. However, technological advancements in wine production processes are expected to create opportunities for the market players in the coming years.
Extensive analysis regarding how the COVID-19 outbreak affects the Wine production machinery Market@ https://www.alliedmarketresearch.com/request-sample/6515
Covid-19 scenario:
- Due to the Covid-19 outbreak and lockdown in various countries, the consumers fear the possible recession and thus, are reluctant to buy expensive wines.
- The negatively impacted supply chain hampers the volume of consumption.
The global wine production machinery market is segmented on the basis of type and geography. Based on type, the market is divided into tanks & fermenters, crushing & pressing equipment, temperature control equipment, filtration equipment, and others. The crushing & pressing equipment segment is expected to register the highest CAGR of 4.5% during the forecast period. However, the temperature control equipment segment held the largest share in 2019, contributing to two-fifths of the market.
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The global wine production machinery market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across Europe dominated in 2019, accounting for more than three-fifths of the market. However, the market across North America is anticipated to portray the highest CAGR of 5.2% during the forecast period.
The global wine production machinery market report includes an in-depth analysis of the major market players such as GW KENT, Della Toffola Pacific, Northern Brewer, Paul Mueller Company, VeCriveller Group, Agrovin, Love Brewing Ltd., AdamarkAirknife, Vitikit Limited, and Tanium Machinery.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Wine Production Machinery Market
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