Advancement in technology has led to improvements in the quality of products that we use on a daily basis. Microwave ovens have become a staple in households around the world, with manufacturers launching upgrades and new versions on a consistent basis. However, there has been a tectonic shift in the technology on which microwave ovens are based. The development of new technology has led to the development of high speed ovens that have been touted to cook food three to five times faster than conventional ovens.
The combination of microwave technology with convection technology has led to faster cooking times. In addition to faster cooking times, the use of new technology has also led to increased moisture retention as a result of concurrent cooking. A majority of high speed ovens come equipped with pre-defined programs for standard menus, which further reduces the cooking time. High speed ovens also usually don’t require special cookware, which is fuelling their adoption among consumers who are not interested in spending extra money on buying cookware. On the back of these factors, the global high speed ovens market is currently witnessing a period of stable growth.
Although the outlook on global high speed ovens market is positive, there are a host of factors that are impeding their growth. Small oven cavities have presented a challenge in the amount of food that can be cooked at once in high speed ovens. Further, massive differences between the exterior of the oven and interior can create space issues for consumers. Further, relatively higher price of high speed ovens can impede adoption during the assessment period.
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.
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.
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.
In addition to these insights, the report also offers segmentation on the basis of application and wattage. On the basis of application, the report has segmented the market into commercial and household. By wattage, 1750 – 2000 watt high speed ovens currently account for the highest demand.
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.
Growing need for serving hot and fresh food products in restaurants, and hotels has led to a surge in demand for high speed ovens globally. In addition, increasing demand for high speed ovens equipped with advanced technological features is expected to impact growth of the global high speed ovens market positively. This report, compiled by Fact.MR, provides in-depth analysis of the global high speed ovens market for the forecast period 2017-2026, offering key insights on the growth prospects of the market.
The scope of the Fact.MR’s report is to analyze the global high speed ovens market for the forecast period 2017-2026 and offer accurate and unbiased insights to the readers. High speed ovens manufacturers, suppliers, and stakeholders in the global industry can benefit from the analysis offered in this report.
In-depth analysis regarding the energy saving properties, usage benefits, and long-term maintenance is detailed in this report. The comprehensive study offers insights on various market drivers, trends, and challenges shaping the future of the market, serving as a platform for future study, interest and understanding for the leading industries, trade magazines and journals related to the global high speed ovens market.
The report introduces the current scenario of the market for high speed ovens. The executive summary section of the report offers information regarding the future scope of the global high speed ovens market. Brief information on the vital aspects, facts, and statistics on the global high speed ovens market is emphasized in this section.
This section offers an overview of the global high speed ovens market. This section comprises definition of the product – high speed ovens, along with key insights on dynamics playing an important role towards the growth of the market. The overview also includes market volume and year-on-year growth defining the future progress and decline of the global high speed ovens. Data on the year-on-year growth provides readers with an overall view on expected progress reshaping growth during the forecast period.
In the next section, the report provides insights on major drivers, key trends, and retrains on the basis of demand, supply and macro-economic factors. The report also talks about an impact analysis of drivers and restraints that helps in decision-making and becoming more efficient.
The report further provides information on various technological advancements in the global high speed ovens market. Latest information and advancements regarding growth opportunities can prove to be beneficial for the leading manufacturers of high speed ovens. With advancements in technology, keeping an eye on the latest trends and developments is important for high speed ovens manufacturers to frame key business strategies. Key insights concerning the list of distributor, supply chain, cost structure, pricing analysis, and raw material sourcing, are also provided in this section of the report.
Considering the broad-scope of the global high speed ovens market, the report offers in-depth insights on the forecast and segment-wise analysis. The high speed ovens market has been segmented on the basis of product type, price range, application, wattage, and region. This sections offers segmentation analysis, along with a detailed country-wise forecast on all the parameters.
In the final section, the report offers information on the key competitors, along with a board view of the market players and company analysis. This competitive intelligence is based on the providers’ categories across the value chain, and their presence in the global high speed ovens market.
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