The selling of ovens that cook food rapidly and uniformly by combining microwave and convection heating is referred to as the “high-speed oven market.” These ovens are renowned for their quick cooking periods as well as their capacity to keep food moist and flavorful. Various locations, such as commercial kitchens, convenience shops, and food trucks, employ high-speed ovens. In the upcoming years, the market for high-speed ovens is anticipated to expand due to rising need for speedy and effective cooking solutions, particularly in the food service sector. The industry is anticipated to develop as convenience foods like frozen dinners and prepackaged snacks become more and more well-liked. Additionally, the development of sophisticated features like multi-stage cooking and the growing emphasis on energy efficiency
High-speed ovens are more common than standard ovens because of their higher usefulness. In the upcoming years, it is anticipated that their use in both commercial and household cooking would dramatically rise. With high speed ovens, baking pizzas and other bakery goods (cake, bread, cookies, etc.) takes a great deal less time, which continues to draw in more consumers.
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Market Segments Covered in High Speed Ovens:
- Product Type
- Build-in High Speed Oven
- Counter Top High Speed Oven
- Price Range
- Economy
- Mid-Range
- Premium
- Application
- Commercial
- Household
- 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
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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.
Key Companies Profiled (Indicative List)
- Siemens
- BOSCH
- General Electric
- Electrolux
