High Speed Oven Global Market Report 2023

“High Speed Oven Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on high speed oven market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for high speed oven ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The high speed oven market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Built In; Countertop

• 2) By Wattage: 1000 - 1250 Watts; 1250 - 1500 Watts; 1500 - 1750 Watts; 1750 - 2000 Watts; 2000 - 2250 Watts; 2250 - 4500 Watts; 4500 - 6000 Watts; Above 6000 Watts

• 3) By Sales Channel: Hypermarket/Supermarket; Specialty Stores; Online Channels

• 4) By End User: Residential; Commercial

• Companies Mentioned: GE; Sharp; Electrolux; Siemens; Bosch

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the high-speed oven market are: General Electric Company, Sharp Corporation, Electrolux AB, Siemens AG, Bosch, Whirlpool Corporation, Merrychef, Miele, ACP Solutions, Alto-Shaam, TurboChef Technologies, Viking Range, SMEG S.p.A., The Middleby Corp, and Cookkart.

The global high speed oven market grew from $3.61 billion in 2022 to $3.94 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The high speed oven market is expected to grow to $5.42 billion in 2027 at a CAGR of 8.3%.

The high-speed oven market consists of sales of microwave-based, microwave energy with high-speed impinged air-based, and combines high-speed hot air and infrared heat-based high-speed ovens. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The high-speed oven refers to commercial cooking equipment, which combines multiple food preparation methods to cook the food much faster than traditional convection ovens or grills. These high-speed ovens are designed to convert fast food into a gourmet experience for customers while delivering food quickly and consistently.

North America was the largest region in the high-speed oven market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high-speed oven market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main type of high-speed oven includes a built-in and countertop. The built-in high-speed ovens refer to high-speed ovens installed into kitchen units or fixed to cupboard doors. The installation of the high-speed oven can be integrated into a base or tall cabinet of varying heights. These products are sold through hypermarkets/supermarkets, specialty stores, and online channels. The wattage variance in high-speed ovens include 1000 - 1250 Watts, 1250 - 1500 Watts, 1500 - 1750 Watts, 1750 - 2000 Watts, 2000 - 2250 Watts, 2250 - 4500 Watts, 4500 - 6000 Watts, and Above 6000 Watts. The end-user of high-speed oven include residential and commercial.

The increased exposure of hotels, restaurants, and cafes has been a major driving factor for the high-speed oven market. Hotel F&B venues and their designers are being compelled to adapt and engage customers with concepts that highlight both convenience and experience as food delivery consumption habits develop and buying a restaurant-quality meal for delivery becomes easier than ever. According to HGEM, two-thirds of hotel guests have used delivery apps such as Deliveroo, JustEat, GrubHub, and others to get food directly to their room, with 71% of guests aged 26-35 preferring delivery apps to in-house restaurants. In the future years, the trend of ordering into hotels is expected to increase by 83%. Hence, the greatest challenge of any food aggregator in the F&B industry, in order to derive the best possible operational efficiency would be to reduce delivery and service time through technologically advanced equipment such as high-speed ovens. Therefore, increased exposure of hotels, restaurants, and cafes is expected to boost demand for high-speed ovens during the forecast period.

An increasing number of hotels and restaurants is driving the high-speed oven market. Rapid economic growth in emerging economies, increasing government expenditure towards the promotion of the tourism industry, and increasing consumer interest in convenient food is contributing to growth in the establishment of new hotels and restaurants across the globe. The rapid growth in the number of hotels and restaurants is expected to boost demand for high-speed ovens, as the news organizations are investing in advanced commercial cooking equipment to decrease the cooking time and increase customer experience. According to the study published in Condor Ferries Ltd., the hotel industry accounted for more than 700,000 hotels across the globe and also accounted for $3.41 trillion in the global economy. Therefore, the rapid growth in the number of hotels and restaurants is expected to boost demand for high-speed ovens during the forecast period.

Technological advancements are a key trend gaining popularity in the high-speed oven market. Many companies operating in high-speed ovens are developing new products or new technologies to meet end-customer demand and strengthen their market position. For instance, in 2020, Alto-Shaam, a USA-based provider of commercial kitchen equipment, announces new designs and advanced user-friendly controls for its original Cook & Hold Ovens with Halo Heat® technology. The new ovens are simple to use, with one-touch cooking. They have Alto-most Shaam's advanced control yet and are extremely easy to use, requiring little or no operator training.

The countries covered in the high-speed oven market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The high-speed oven market research report is one of a series of new reports from The Business Research Company that provides high-speed oven market statistics, including high-speed oven industry global market size, regional shares, competitors with a high-speed oven market share, detailed high-speed oven market segments, market trends and opportunities, and any further data you may need to thrive in the high-speed oven industry. This high-speed oven market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.