Commercial High-speed Oven Market to Reach USD 5,801.3 Million by 2034, Amid Rising Demand for Compact and Space-saving Designs | Future Market Insights, Inc.
NEWARK, Del, Sept. 09, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the global commercial high-speed oven market value is predicted to increase from USD 3,037.3 Million in 2024 to USD 5,801.3 Million by 2034. Over the assessment period, global demand for commercial high-speed ovens is projected to surge at a CAGR of 6.7%.
The built-in ovens segment is expected to dominate the global commercial high-speed oven industry through 2034. It will likely hold a value share of 76.0% by 2024. On the other hand, the restaurant segment is anticipated to expand at a relatively higher CAGR over the forecast period, owing to the growing adoption in the end-use segment.
The expanding landscape of restaurants and hotels serves as a significant driver in the high-speed oven market. As the hospitality industry continues to witness an increasing number of dining establishments, the demand for efficient and rapid cooking solutions rises concurrently.
The commercial high-speed oven market is witnessing a significant trend marked by the growing demand for ventless technology. As operators seek greater installation flexibility, ventless operation has become a dominant feature. This trend allows high-speed ovens to be seamlessly integrated into diverse operations and locations while minimizing costs.
The ventless technology not only addresses practical concerns but also makes a substantial impact on environmental sustainability. By limiting emissions and saving energy, these ovens align with the industry's commitment to eco-friendly practices.
The high demand for ventless operations reflects a broad market shift toward efficiency, adaptability, and sustainability in the commercial oven industry. As high-speed ovens continue to evolve, ventless technology emerges as a key driver, reshaping industry standards and meeting the dynamic needs of modern commercial kitchens.
The escalating demand for local food chains presents a substantial opportunity for the commercial high-speed oven market. As local culinary establishments gain popularity, the need for efficient and rapid cooking solutions becomes paramount.
High-speed ovens, with their ability to streamline kitchen operations and deliver quick service, align seamlessly with the requirements of local food chains. This burgeoning trend not only positions high-speed ovens as essential tools in supporting the growing local food scene but also opens up avenues for manufacturers to cater to the unique demands of these establishments, fostering a mutually beneficial relationship between the commercial high-speed ovens market and the flourishing local food chain sector.
Key Takeaways from the Report:
- The global market for commercial high-speed ovens is projected to thrive at 6.7% CAGR through 2034.
- By product type, the built-in oven segment is expected to have a total valuation of USD 4,242.0 Million by 2034.
- By end-use, the restaurant segment is set to hold a market share of 40.8% in 2024.
- Europe is expected to account for a significant share of about 34.0% in 2034.
- The United States industry value is anticipated to reach USD 956.5 Million by 2034.
- China is projected to attain a valuation of USD 367.8 Million by 2034.
- Demand in India is predicted to rise at 6.6% CAGR through 2033.
“The commercial high-speed oven market is driven by the increasing demand for energy-efficient and multi-functional cooking equipment, expansion of the food service industry, and technological advancements. These ovens offer versatile cooking capabilities, catering to diverse culinary trends and operational needs, thereby fueling market growth and innovation. – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Growth Outlook of the Commercial High-speed Oven Industry by Country:
| Countries | Commercial High-speed Oven Market Revenue (2034) |
| United States | US$ 956.5 million |
| China | US$ 367.8 million |
| Germany | US$ 357.5 million |
| United Kingdom | US$ 348.5 million |
| India | US$ 313.7 million |
| Japan | US$ 210.9 million |
Competitive Landscape:
The global commercial high-speed oven market is consolidated, with leading players accounting for about 40% to 45% of the share. Bosch Ltd, ACP Solutions (Ali Group), GE Appliances (Haier Company, The Miele Inc, Sub-Zero Wolf, UNOX S.p.A, Alto-Shaam Inc., Whirlpool Corp.(Jennair), Panasonic Corp., and TurboChef Technologies are the leading manufacturers and suppliers listed in the report.
Discover Comprehensive Analysis and Market Trends! https://www.futuremarketinsights.com/reports/commercial-high-speed-oven-market
Recent Developments in the Commercial High-speed Oven Market:
- In January 2024, Electrolux Professional Group acquired Tosei Corporation. The company marked a significant key development for the company's strategic expansion and strengthened its market position.
- In September 2022, Merrychef changed the high-speed oven sector with the launch of its groundbreaking conneX® 16. Following the success of the conneX® 12 earlier in the year, this latest innovation boasts a spacious 16” cavity within an 18” wide footprint, setting new standards for compact design and functionality.
More Insights into the Commercial High-speed Oven Market Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global Commercial High-speed Oven market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on product type, sales channel, end-use, and region.
Commercial High-speed Oven Market Segmentation Analysis:
By Product Type:
- Built-in Ovens
- 1000 to 2000 W
- 2000 to 4500 W
- 4500 to 6000 W
- Above 6000 W
- Counter Top Ovens
- 1000 to 2000 W
- 2000 to 4500 W
- 4500 to 6000 W
- Above 6000 W
By Sales Channels:
- Online
- Offline
- Authorized Dealers
- Specialty Stores
- Hypermarket/Supermarket
By End-use:
- Restaurants
- Independent
- Franchise
- K-12 Schools
- Universities
- Travel & Leisure
- Business & Industry
- Convenience Stores
- Commercial Kitchens
- Healthcare Facilities
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East Africa
About Future Market Insights (FMI) – Industrial Automation
The industrial automation division of Future Market Insights (FMI) offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI):
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