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Global Conveyor Oven Market Anticipated to Surge at a CAGR of 3.7% Through 2025
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Global Conveyor Oven Market: Snapshot
The global conveyor oven market is gaining from changing food habits in several parts of the world. Globalization, economic liberalization, and proliferation of media in nations such as India coupled with rising disposable incomes have been key factors for the adoption of newer foods, of which baked foods are one. The movement of people because of work opportunities and leisure travel have also created a fancy for new foods such as baked goods.
Globally, rising demand for baked goods is primarily driving the global conveyor oven market. The increasing consumption of baked goods such as pizzas, cakes, and cookies have played a major role in the growth of food industry and ancillary industries. For instance, pizzerias display a substantially high demand for conveyor ovens as they help reduce cooking time considerably, which in turn helps attain efficiency and improved customer experience.
A report by Transparency Market Research projects the global conveyor oven market to rise at a CAGR of 3.7% during the forecast period between 2017 and 2025, for the market to become worth US$123.2 mn by the end of 2025.
Industrial/heavy Type Conveyor Oven to Contribute Substantial Revenue through 2025
Based on type, the conveyor oven market is divided into countertop and industrial/heavy. Of the two, industrial/heavy type conveyor oven segment is anticipated to lead the market over the forecast period. The segment is estimated to contribute US$53.2 mn revenue to the overall market by the end of 2025. Rising demand for baked goods and adoption of modern equipment in the commercial food sector for fast and convenient cooking are primary factors for the growth of industrial/heavy type conveyor oven segment. However, countertop type conveyor oven segment are also anticipated to rise at a significant pace between 2017 and 2025.
On the basis of power source, electric conveyor oven and gas conveyor oven are the segments into which the global conveyor oven market is divided in this report. In 2016, electric conveyor oven segment held the leading share in the overall market; going forward, electric conveyor oven segment is likely to surpass gas conveyor oven segment over the forecast period.
By technology, the global conveyor oven market is divided into convection and radiation. In 2016, convection type oven held the leading share in the global conveyor oven market. However, radiation type oven is likely to surpass in terms of growth rate over the forecast period. Radiation type segment is also likely to surpass convection type technology segment by the end of 2025.
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Adoption of Modern Equipment in Commercial Food Segment to Make Europe Key Market
By geography, the global conveyor oven market is segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is currently the leading regional market for conveyor oven due to the increasing adoption of fast and convenient cooking practices in the commercial food segment.
In 2016, Europe stood as the second-leading market for conveyor oven in terms of revenue contribution to the overall market; going forward, the region is anticipated to display the leading growth rate in the conveyor oven market over the forecast period. The rising adoption of modern equipment to cook more food in less time in restaurants, bakery, hotels, and food catering services contribute to the growth of European conveyor oven market.
Leading players operating in the global conveyor oven market that have been profiled in this report include Middleby Corporation, Lewco Inc., PICARD OVENS INC., Davron Technologies Inc., Star Manufacturing, Wisconsin Oven Corporation, Zanolli, Stoddart International Thermal Systems, Mahan Oven & Engineering Co. Inc., Infratrol LLC, Doyon, Moretti Forni, OEM-ALI Spa, Ovention, Italfornia USA, Lincoln, and XLT Inc.
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