High Speed Ovens Market

High Speed Ovens Market Analysis by Built-in Ovens and Countertop Ovens for Residential and Commercial Use from 2023 to 2033

Analysis of High Speed Ovens Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

High Speed Ovens Market Outlook (2023 to 2033)

The global high speed ovens market is estimated at US$ 5.59 billion in 2023. Overall market value is expected to reach US$ 10.70 billion by 2033, expanding at a healthy CAGR of 6.7% from 2023 to 2033.

High speed ovens are a type of cooking device that cooks food quickly by combining convection, microwave, and radiant heating technologies. They are also known as rapid cook ovens or accelerated cooking ovens. High speed ovens, as opposed to standard ovens, use numerous heating components and cooking processes at the same time to cook food up to ten times faster than standard ovens. This makes them perfect for high-traffic commercial kitchens where speed and efficiency are critical.

These types of ovens are frequently used to prepare a wide range of meals, such as baked products, sandwiches, pizzas, and frozen items. They are also often used in coffee shops and convenience stores to quickly reheat pre-made products such as pastries and breakfast sandwiches. Moreover, since they cook food faster, high-speed ovens consume less energy than ordinary ovens. This can help commercial kitchens save money on energy.

High speed ovens are typically smaller than standard ovens, making them an excellent choice for kitchens with limited space. Overall, high speed ovens are a quick and easy way to make meals without losing quality.

Makers of high speed ovens are always introducing new features to their devices to increase their functionality. The incorporation of new features and functionalities into products is becoming a widespread practice to give customers added value and differentiate from competitors.

Utilization of IoT in smart ovens to link them to the internet and mobile applications allows users to remotely set up temperatures, cooking times, heating modes, and other types of oven settings. Furthermore, the use of steam cooking technology in certain high speed ovens helps keep moisture in food while also keeping it from burning. Moreover, market players are adopting interactive control panel displays that offer multi-languages and Wi-Fi connectivity.

  • For example, Midea Group introduced built-in scanners that allow operation by scanning a barcode on food packaging to adjust power levels and cooking time.

Producers of high speed ovens are also increasingly offering customizing possibilities to food enterprises. As per Fact.MR, a market research and competitive intelligence provider, such factors will raise the demand for high speed ovens over the next ten years.

Report Attributes

Details

High Speed Ovens Market Size (2023)

US$ 5.59 billion

Projected Market Value (2033)

US$ 10.70 billion

Global Market Growth Rate (2023 to 2033)

6.7% CAGR

United States Market Value (2033)

US$ 3.71 billion

Mid-range Oven Segment Growth Rate (2023 to 2033)

7.1% CAGR

Key Companies Profiled

  • GE
  • Sharp
  • Electrolux
  • Whirlpool Corporation
  • Siemens
  • Bosch
  • TurboChef
  • Miele Inc
  • Viking Range
  • Amana
  • Electrolux
  • Siemens

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Why are High Speed Ovens Picking Up Steam Globally?

“Increasing Number of Restaurants & Hotels”

Rapid expansion of food service outlets is spurring the demand for high speed ovens. Various business people are launching new restaurants and cafés to turn their interests or passions into a source of revenue. The introduction of food delivery applications is causing cafes, restaurants, and hotels to gain attention. Furthermore, the speedier delivery feature provided by food delivery apps is increasing the usage of high speed ovens by restaurants and cafés.

“Advantage of Reduced Cooking Time”

Cooking time is a huge challenge for almost everyone due to their hectic schedule. Consumer's hectic schedules have driven them to adopt equipment and technologies that assist them save time on household duties. High speed ovens can shorten cooking time by combining two or more heat sources such as infrared, microwave, and high-impinged hot air, which is why this device is being used with cutting-edge cooking technologies. Furthermore, by minimizing the cooking time, high speed ovens help restaurants deliver food on time.

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Which Factor Can Slow the Sales Growth of High Speed Ovens?

“High Cost Associated with High Speed Ovens”

Since high speed ovens have more modern functions, they are more expensive than ordinary cooking appliances. Due to the availability of many alternatives to high speed ovens with competitive features and low prices, this aspect can reduce market demand for high speed ovens.

High speed ovens require regular maintenance, which comes at a cost. Since not all consumers can afford such expensive items, they end up choosing an alternative with some of the same qualities, negatively impacting the sales growth of high speed ovens.

High Speed Ovens Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

Why is the United States a Dominant Power in the Worldwide Market?

“Increasing Popularity of Convenience Foods and Strong Focus on Implementing Advanced Technologies”

The United States high speed ovens market is projected to hit US$ 3.71 billion by 2033. Many individuals are seeking ways to save time and get things done faster as the pace of modern life quickens. High speed ovens make food preparation quick and easy, which is especially appealing to busy professionals and families.

Convenience foods are popular in the United States, and high speed ovens are an excellent way to make them fast and efficiently. This trend is especially pronounced in urban areas, where people are more likely to have hectic schedules and less time for cooking.

High speed ovens are becoming more complex and sophisticated, making them more dependable and user-friendly. Market participants in the country are implementing innovative technologies such as touchscreens, programmable settings, and automatic cleaning to make their smart kitchen appliances more appealing to consumers.

Moreover, by lowering cooking times, energy usage, and labor expenses, high speed ovens can assist businesses save money. As a result, they are gaining widespread acceptance in cafes, restaurants, and other food service enterprises in the United States.

How are China, Japan, and South Korea Complementing Global Market Growth?

“Expanding Food Service Industries and the Growing Popularity of Western Cuisines in These Countries”

The Chinese, Japanese, and South Korean markets are estimated to reach US$ 1.79 billion, US$ 470.7 million, and US$ 331.6 million, respectively, by 2033. As these countrie's populations get more urbanized and people's lifestyles become more hectic, there is a growing desire for quick and convenient meal options. High speed ovens make meal preparation quick and easy, which is especially desirable in today's fast-paced society.

Food service industries in China, Japan, and South Korea are expanding quickly, particularly in urban areas. High speed ovens provide a cost-effective way for businesses to produce meals fast and meet demand. Moreover, all three countries place a high priority on energy efficiency and lowering energy use. High speed ovens use less energy than standard ovens, making them an appealing alternative for both businesses and households.

High speed ovens are seen as a mark of technological expertise and innovation. This is especially crucial in China, Japan, and South Korea, where people are willing to pay higher prices for the latest and greatest things. Moreover, western-style cuisines are becoming more popular in these countries, boosting the sales of high-speed ovens as these ovens are ideal for cooking many of these dishes, such as sandwiches and pizzas.

What Makes the United Kingdom and Germany Key Markets for High Speed Ovens in Europe?

“Soaring Demand for Convenience, Quality, and Sustainability to Increase Usage of High Speed Ovens”

The United Kingdom market is anticipated to touch US$ 524.2 million by 2033. Germany is expected to follow the United Kingdom in terms of growth. Convenience is crucial in the United Kingdom and Germany, especially in urban regions where people may lack the time or willingness to cook from scratch. High speed ovens make it simple to create a variety of items, from frozen meals to fresh foods.

Both the United Kingdom and Germany have sizable and expanding food service businesses. High speed ovens are popular in various industries since they allow businesses to make food fast efficiently, thereby lowering customer wait times.

Moreover, energy efficiency is becoming an increasingly essential aspect in the United Kingdom and Germany, as in other countries. High speed ovens are more energy-efficient than regular ovens, making them a more sustainable alternative for both businesses and consumers.

When it comes to food, both the United Kingdom and Germany place a premium on quality. High-speed ovens can cook food rapidly without sacrificing quality, making them an appealing alternative for individuals who want their food to taste great.

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Category-wise Insights

Why are Mid-range High Speed Ovens Gaining Widespread Acceptance?

“Growing Popularity of Fast Food Restaurants and Increasing Adoption by Majority of People”

Demand for mid-range high speed ovens is predicted to rise at a CAGR of 7.1% from 2023 to 2033.

Price is an essential aspect that influences product uptake to a higher level. As a significant number of the world's population comes into the economic scale, mid-range products are gaining widespread acceptance. Moreover, the growing popularity of fast-service restaurants in countries such as India and China presents numerous opportunities for mid-range products in these countries.

Competitive Landscape

Key players in the high speed ovens market are actively pursuing strategies such as collaborations, investments, R&D activities, technological innovations, and acquisitions to gain market share.

  • Panasonic released the Versatile NN-CD87KS Home Chef 4-in-1 Countertop Multi-Oven in June 2020. This device was created to meet the hectic schedules of cooking experts and beginners by providing the various functions of baking, air frying, broiling, and classic microwaving.
  • Alto-Shaam, a commercial kitchen equipment company based in the United States, revealed new designs and sophisticated, user-friendly controls for its first Cook & Hold Ovens with Halo Heat® technology in June 2020. The new ovens are easy to operate, with one-touch cooking. They have the most sophisticated control of Alto-most Shaam and are exceedingly simple to use, requiring minimal user training.

Key Segments of High Speed Ovens Industry Research

  • By Type :

    • Built-in
    • Countertop
  • By Wattage :

    • 1,000 to 1,250 Watts
    • 1,250 to 1,500 Watts
    • 1,500 to 1,750 Watts
    • 1,750 to 2,000 Watts
    • 2,000 to 2,250 Watts
    • 2,250 to 4,500 Watts
    • 4,500 to 6,000 Watts
    • Above 6,000 Watts
  • By Price Range :

    • Economy
    • Mid-range
    • Premium
  • By Sales Channel :

    • Hypermarkets/Supermarkets
    • Specialty Stores
    • Online Channels
  • By End User :

    • Residential
    • Commercial
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific & China
    • Middle East & Africa

- FAQs -

What is the current size of the high speed ovens market?

The global high speed ovens market is valued at US$ 5.59 billion in 2023.

What is the projected market size for 2033?

The market for high speed ovens is set to hit US$ 10.70 billion by 2033.

What are the growth prospects for the global high speed ovens market?

Worldwide demand for high speed ovens is forecasted to swell at a CAGR of 6.7% from 2023 to 2033.

What is the estimated valuation of the United States market for 2033?

The United States market is expected to reach US$ 3.71 billion by 2033.

Who are the leading manufacturers of high speed ovens market?

GE, Sharp, Electrolux, Whirlpool Corporation, Siemens, Bosch, TurboChef, Miele Inc, Viking Range, Amana, Electrolux, and Siemens are prominent high speed oven manufacturers.

High Speed Ovens Market