|11-12-2018 12:31 PM CET - IT, New Media & Software||
Global High Speed Ovens Market Prospects, Outlook and Growth Analysis for the Period 2017-2026 | Top Key Players- ACP Solutions Alto-Shaam Inc., Bosch, Electrolux, GE Corporation, Merrychef, Miele Inc., Sharp Corporation, Siemens, TurboChef Technologies,
Press release from: Fact.MR
Advancement in technology has led to improvements in the quality of products that we use on a daily basis. Microwave ovens have become a staple in households around the world, with manufacturers launching upgrades and new versions on a consistent basis. However, there has been a tectonic shift in the technology on which microwave ovens are based. The development of new technology has led to the development of high speed ovens that have been touted to cook food three to five times faster than conventional ovens.
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Fact.MR’s recently published report reveals that the global high speed ovens market is set to surge at an impressive CAGR of 7.9% during the forecast period (2017-2026) and reach a valuation in excess of US$ 7,000 Mn. Increasing demand for ovens that take lower durations to heat, bake and cook meals is expected to remain a key factor in propelling the growth of the market during the review period. It is observed that high-speed ovens are witnessing higher preference as compared to compared conventional ovens owing to their superior functionality. Their use in both commercial and household cooking is expected to grow substantially over the next couple of years. In high speed ovens, it takes much lesser time to bake pizzas and various bakery products (cake, bread, cookies, etc.), which continue to lure more consumers towards such ovens.
Increasing preference for kitchen utensils that facilitate rapid cooking owing to the fast-paced lifestyle of a modern consumer in creating opportunities for high-speed ovens. Today, a large number consumers do not prefer spending much time in the kitchen, hence look for options that can not only simplify their kitchen tasks but also allow them to prepare desired meals in minimum duration. Realizing the opportunity, many of market players are actively focusing on improving the efficiency of their products to better suit the needs of consumers. In addition, arrival of advanced microwave technology is enabling manufacturer to make their products more efficient.
High speed ovens are available in two types – build-in high speed oven and counter top high speed oven. Among these, the demand for latter is currently higher and the status quo is likely to be the same during the assessment period as well. The report projects over 1000’000 units of counter top high speed ovens to be sold by the end of forecast period.
Price is one of the most important influencing factors that determines to a great extent the uptake of high speed ovens. Currently, the demand for mid-range high speed ovens is the highest, however, there is slight difference in the total number of sales of economy and premium products.
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Key Insights from the Report Include:
In terms of revenue, the high speed ovens market in North America is expected remain highly lucrative in 2018 and the trend is likely to continue throughout the assessment period. Between 2017 and 2026, the North America high speed ovens market is projected to surge at a CAGR of 8.9%. This is primarily owing to increasing demand for ovens that offer faster heating, defrosting and cooking. Moreover, a strong presence of leading market players and availability of most advanced microwave and ovens is supporting the growth of the market in the region.
On the basis of product type, the build-in-high speed oven segment is expected to retain its dominant position over 2026. Currently, the segment accounts for more than 60% revenue share of the global market and is anticipated to surpass a market valuation of US$ 4,100 Mn by 2026, reflecting an above-average CAGR. The segment is estimated to grow by US$ 402.5 Mn annually over the course of the forecast period.
Based on price range, the mid-range segment is expected to remain highly attractive in 2018 and beyond. This segment currently command for more than one-third market share in terms of revenue and is projected to exhibit a healthy CAGR during the forecast period.
Based on application, the household segment is expected hold a dominant position throughout the assessment period. This segment is projected to increase at a CAGR of 8% from 2017 to 2026.
By wattage, the 1000 - 1250 Watts segment is expected to remain highly profitable in the near future. In 2017, the segment reached a valuation of over US$ 200 Mn and is expected to expand at a robust CAGR during review period.
Fact.MR in its report has profiled key players operating in the global market for high speed ovens, which include Siemens, Bosch, Electrolux, Merrychef, Miele Inc., ACP Solutions Alto-Shaam Inc., TurboChef Technologies, GE Corporation, Sharp Corporation, Viking Range, and Whirlpool Corporation.
Table of Content:
Global Economic Outlook
Global High Speed Oven Market - Executive Summary
Global High Speed Oven Market Overview
3.1.1. Global High Speed Oven Market Taxonomy
3.1.2. Global High Speed Oven Market Definition
3.2. Global High Speed Oven Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global High Speed Oven Market Y-o-Y Growth
3.3. Global High Speed Oven Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Pricing Analysis
3.7. PESTLE Analysis
3.8. Porters Five Force Analysis
3.9. Key Participants Market Presence (Intensity Map) By Region
Global High Speed Oven Market Analysis and Forecast 2012-2026
4.1. Global High Speed Oven Market Size and Forecast By Product Types, 2012-2026
4.1.1. Build-in High Speed Oven Market Size and Forecast, 2012-2026
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
22.214.171.124. Y-o-Y growth Comparison, By Region
4.1.2. Counter Top High Speed Oven Market Size and Forecast, 2012-2026
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
4.2. Global High Speed Oven Market Size and Forecast By Price, 2012-2026
4.2.1. Economy Market Size and Forecast, 2012-2026
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
22.214.171.124. Y-o-Y growth Comparison, By Region
4.2.2. Mid-Range Market Size and Forecast, 2012-2026
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
4.2.3. Premium Market Size and Forecast, 2012-2026
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
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