NAICS 423440 Quarterly Industry Report
Other Commercial Equipment Merchant Wholesalers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 423440Sector: Wholesale Trade (42)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 423440 integrates data from the U.S. Census Bureau[5] economic surveys, Bureau of Labor Statistics[6] employment data, and SBA size standard publications[7]. Our research team tracks restaurant industry expansion, retail store construction, and commercial equipment demand to provide valuation context for this diverse wholesale segment. Updated quarterly, each data point is traced to its originating government or institutional source.
Industry Snapshot
Key metrics for the other commercial equipment merchant wholesalers industry.
Industry Definition & Overview
Other Commercial Equipment Merchant Wholesalers (NAICS 423440) encompasses establishments primarily engaged in the merchant wholesale distribution of commercial and related machines and equipment generally used in restaurants, stores, and other commercial settings. This excludes photographic equipment (423410), office equipment (423420), and computers (423430). Product categories include commercial balances and scales, commercial cooking equipment, display cases, mannequins, store fixtures, shelving systems, partitions, and lockers.
The restaurant equipment segment represents a large share of industry activity. Distributors supply commercial kitchens with cooking ranges, refrigeration units, dishwashers, food preparation equipment, and smallwares. Store fixture and display distributors supply retail environments with shelving, gondola systems, checkout counters, and visual merchandising equipment. According to the U.S. Census Bureau[5], this classification covers a diverse product range serving commercial and institutional buyers.
Many distributors specialize in either the foodservice equipment segment or the store fixture and display segment, as each requires distinct product knowledge and customer relationships. Foodservice equipment distribution involves health code compliance knowledge, kitchen layout design services, and relationships with restaurant chains, hotel groups, and institutional food service operations. Store fixture distributors work with retail chains and independent retailers on store buildouts and remodel projects that involve coordinating fixture delivery with construction schedules. Installation and assembly services are often bundled with product delivery.
What's Included in This Industry
- Commercial cooking equipment wholesale distribution
- Commercial refrigeration equipment wholesale operations
- Store fixture and display case wholesaling
- Shelving and racking system wholesale distribution
- Mannequin and visual merchandising supply wholesale
- Commercial dishwasher and warewashing equipment distribution
- Partition and locker wholesale operations
- Commercial scale and balance wholesale distribution
- Foodservice smallwares wholesale operations
- Commercial laundry equipment wholesale distribution
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Wholesale Trade | 42 |
| Subsector | Merchant Wholesalers, Durable Goods | 423 |
| Industry Group | Professional and Commercial Equipment and Supplies Merchant Wholesalers | 4234 |
| NAICS Industry | Other Commercial Equipment Merchant Wholesalers | 42344 |
| National Industry | Other Commercial Equipment Merchant Wholesalers | 423440 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 423420 | Office Equipment Merchant Wholesalers | Office equipment merchant wholesalers distribute copiers and office machines classified separately from the restaurant and store equipment covered here |
| 423410 | Photographic Equipment and Supplies Merchant Wholesalers | Photographic equipment merchant wholesalers distribute imaging gear classified separately from the commercial machines covered by this code |
| 423430 | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Computer equipment merchant wholesalers distribute IT hardware classified separately from the commercial cooking and store fixture equipment here |
| 423850 | Service Establishment Equipment and Supplies Merchant Wholesalers | Service establishment equipment merchant wholesalers distribute beauty salon and barber equipment through parallel commercial equipment channels |
| 423210 | Furniture Merchant Wholesalers | Furniture merchant wholesalers distribute tables, chairs, and seating that complement but are classified separately from store fixtures and commercial equipment |
| 337215 | Showcase, Partition, Shelving, and Locker Manufacturing | Showcase, partition, shelving, and locker manufacturing produces commercial display and storage products distributed through this wholesale channel |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 13.7% | 507 |
| 2 | Florida | 9.5% | 350 |
| 3 | Texas | 9.1% | 337 |
| 4 | New York | 7.7% | 285 |
| 5 | Illinois | 4.3% | 157 |
| 6 | Pennsylvania | 3.7% | 137 |
| 7 | Ohio | 3.7% | 135 |
| 8 | Georgia | 3.1% | 115 |
| 9 | New Jersey | 3.1% | 115 |
| 10 | North Carolina | 3.1% | 114 |
% Of Establishments
0%
14%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
352
Total SBA Loans
$185.4M
Total Loan Volume
$527K
Average Loan Size
11 yrs
Average Loan Term
10.11%
Average Interest Rate
1,456
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[7] classifies Other Commercial Equipment Merchant Wholesalers under NAICS 423440 with a size standard of 200 employees. Many regional foodservice equipment distributors and store fixture suppliers operate below this threshold. Qualifying firms can access SBA lending programs[8] for showroom expansion, warehouse investments, delivery fleet purchases, and working capital to support the project-based ordering cycles common in commercial equipment distribution. Eligible businesses can access SBA 7(a) loans[9] for working capital, equipment, and acquisition financing, while 504 loans[10] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Meridian Bank | 8 | $34.8M | $4.3M |
| 2 | University Bank | 24 | $28.9M | $1.2M |
| 3 | JPMorgan Chase Bank, National Association | 24 | $22.0M | $916K |
| 4 | The Huntington National Bank | 32 | $19.7M | $615K |
| 5 | Regions Bank | 8 | $13.5M | $1.7M |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 423440?
NAICS 423440 covers merchant wholesalers distributing commercial cooking equipment, refrigeration, store fixtures, display cases, shelving, partitions, lockers, mannequins, commercial scales, and other commercial machines. These include foodservice equipment dealers, store fixture distributors, and multi-category commercial equipment suppliers. Per the U.S. Census Bureau[5], the code covers diverse products for restaurant, retail, and institutional environments.
How is NAICS 423440 structured within the broader classification?
This code belongs to Industry Group 4234 (Professional and Commercial Equipment and Supplies Merchant Wholesalers), Subsector 423 (Merchant Wholesalers, Durable Goods), and Sector 42 (Wholesale Trade). It shares Industry Group 4234 with codes for photographic (423410), office (423420), computer (423430), medical (423450), ophthalmic (423460), and other professional equipment (423490).
What is the SBA size standard for NAICS 423440?
The SBA[7] sets the size standard at 200 employees. Businesses with fewer than 200 employees qualify as small businesses for federal contracting preferences and SBA-backed loan programs.
Which NAICS codes are most closely related to 423440?
Service establishment equipment wholesalers (423850) distribute salon and barber equipment through similar channels. Furniture wholesalers (423210) handle tables and seating. Showcase manufacturing (337215) supplies store fixture products. Per Census Bureau NAICS references[11], the commercial setting distinction separates this code from professional and office equipment codes.
What industries interact most with commercial equipment wholesalers?
Full-service restaurants (722511) and limited-service restaurants (722513) are major foodservice equipment customers. Retail chains purchase store fixtures for new locations. Per Bureau of Labor Statistics[6] data, restaurant industry employment and retail store construction volumes drive wholesale demand for commercial equipment.
What specific activities are included in NAICS 423440?
Activities include distributing commercial cooking ranges, refrigerators, dishwashers, food prep equipment, store fixtures, display cases, shelving, lockers, mannequins, commercial scales, and laundry equipment. Many distributors provide kitchen design services and store layout planning. Per Census Bureau definitions[5], photographic, office, and computer equipment are excluded.
Can commercial equipment wholesalers access SBA loans?
Yes. Distributors with fewer than 200 employees qualify for SBA loan programs[8] including 7(a) loans for inventory financing and working capital, 504 loans for showroom and warehouse facilities, and microloans for smaller equipment investments. Project-based ordering often requires working capital to carry inventory during kitchen or store buildout timelines.
Where are commercial equipment wholesalers concentrated in the United States?
Distribution operations follow restaurant and retail development patterns, with concentrations in major metropolitan areas. Cities with large hospitality sectors like Las Vegas, Miami, New York, Los Angeles, and Chicago support significant foodservice equipment distribution activity. Store fixture distributors cluster near retail development hubs and operate showrooms in furniture and design market centers across the country.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA size standard publications sba.gov
- [8]SBA lending programs sba.gov
- [9]SBA 7(a) loans sba.gov
- [10]504 loans sba.gov
- [11]Census Bureau NAICS references census.gov
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