Global Residential Combination Steam Oven Market to 6.43% CAGR to 2021 – Analysis of Electrolux, Samsung, Robert Bosch, Haier, and Metall Zug Group

MarketResearchNest.com adds “Global Residential Combination Steam Oven Market 2017-2021” new reports to its research database. The report spread across 87 pages with tables and figures in it.

The research analysts forecast the global residential combination steam oven market to grow at a CAGR of 6.43% during the period 2017-2021.

Combination steam ovens are ovens that have the functionalities of both food steamers as well as convection ovens. Combination steam ovens are becoming popular day by day, and consumers are more aware of the benefits they provide, from cooking to baking and from warming to roasting. Steam helps in retaining and preserving all the vitamins and minerals in the food while maintaining the appropriate moisture level.

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Technavio recognizes the following companies as the key players in the global residential combination steam oven market: Electrolux, Samsung, Robert Bosch, Haier, and Metall Zug Group

Other Prominent Vendors in the market are: Bertazzoni, Foxconn Electronics, Miele, SMEG, SUB-ZERO WOLF, and Whirlpool.

The latest trend gaining momentum in the market is Increasing adoption of modular kitchens. The space crunch that most urban households have has limited their scope for adopting bulky appliances. When it comes to space, especially in the kitchen, improvisation is essential. Hence, the concept of modular kitchens with its appropriate design that solves space issues in the kitchen is catching up.

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According to the report, one of the major drivers for this market is Technology and product innovation leading to premiumization. The very first combination steam oven was invented by Burger Eisenwerke in the 1960's for commercial purposes; since then there has been a tremendous amount of innovation that has happened in this space, and combination steam ovens have made their way to most regular households. New technology, touch panels, smart connectivity as well as new and strong materials used for manufacturing these ovens have resulted in the premiumization of this product.

Further, the report states that one of the major factors hindering the growth of this market is Products priced higher compared to conventional cooking ovens. Combination steam ovens are priced higher than conventional ovens because of their built quality and the various features they provide. For example, consumers can easily get Samsung’s microwave for $300; however, if the consumer wants to buy a double door microwave combination steam oven by Samsung, the price is something around $3,000 depending on the features of the product.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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