Household to Represent a Leading Application Segment for High Speed Ovens Market Over 2026

Posted on 2019-03-05 by Mark Hub in Industrial, Retail // 0 Comments

Rockville, USA, 2019-Mar-05 — /EPR Network/ — Fact.MR’s recently published report reveals that the 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.

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According to a latest research report by Fact.MR, the global high speed ovens market is likely to reach a valuation of 1,631’000 units by the end of 2026. North America continues to be the largest market for high speed ovens globally. The demand for high speed ovens in North America is led by surging adoption in urban centers of the US. The US continues to account for a leading share of the North America high speed ovens market, and the trend is likely to continue throughout the forecast period as well. According to the report, the sales of high speed ovens in the US is likely to reach 553’000 units by the end of the forecast period.

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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.

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.

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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The key companies profiled in the report include ACP Solutions Alto-Shaam Inc., Bosch, Electrolux, GE Corporation, Merrychef, Miele Inc., Sharp Corporation, Siemens, TurboChef Technologies, Viking Range, and Whirlpool Corporation.

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