High-Speed Oven Market Analysis & Forecast 2024-2030

Global High-Speed Oven Market is expected to reach USD 3732.26 million by 2030 with CAGR of 5.3% between 2024 and 2030

Overview

High-speed ovens can cook food faster than regular ovens or grills. High-speed ovens reduce cooking time by 50 % and can cook almost any type of food ranging from bakery products to fast food. These commercial cooking equipment are more powerful, and compact, and offer cooking in quite a small amount of time without hampering the texture and taste of the food. High-speed ovens combine more than one heat transfer method such as convection, microwave, and impingement, and radiation energy. The rising demand for high-speed ovens in cafeterias, hotels, quick-serve restaurants, schools, healthcare facilities, and retail spaces where workers prepare several meals in a day is driving the growth of the Global High-Speed Oven Market. However, high cost is restraining the growth of the market. Rising technological advancements in the design and efficiency of high-speed ovens are expected to foster the growth of the market in the forecast period.  

Product types & Competitive analysis

Based on product types market is divided into built-in high-speed ovens and countertop high-speed ovens. Countertop high-speed ovens accounted largest revenue market share in the year 2022. Countertop high-speed ovens are widely used in commercial kitchens and restaurants owing to their rapid cooking and wide range of applications in cooking from frozen appetizers to baking pizzas in a short period. Rising demand from the baking industry, the increasing number of hotels, restaurants, pizzerias, and growing awareness about the potential advantages of counter-top high-speed ovens are fueling the growth of this segment. The built-in high-speed ovens segment is expected to witness strong demand in the coming years owing to the rising usage of ovens in commercial cooking practices.  

The competitive analysis included in the research study helps the user to understand key players market positioning and marketing strategies. Technological innovation in high-speed ovens has resulted in several process improvements and resulted in the efficient delivery of high-speed ovens to the end-users. Companies in the market are offering new variants with new automation features and ergonomic designs to meet the custom requirements of clients. For instance, in August 2019 Bizerba, a company based in Germany launched new speed ovens at IBIE Las Vegas. The speed ovens offered by the company excel in baking foods quicker than old-style ovens. The oven comes with a 7" color touch screen that helps in easy customizations for up to 100 food products, with a removable rack, sturdy frame, and bottom air filtration system. Also, the Bizerba speed oven is equipped with a cool-down mode that helps in faster cooling and the feature of seamless transfer of data.  

Many players are investing heavily in research and development to develop equipment for specific food processing and cooking activities and to bring the precise level of functionality required. In addition, companies are focusing on potential mergers and acquisitions of key players to strengthen their positions in the rapidly growing market. Moreover, several prominent players in the industry are engaging in strategic collaborations and partnerships with potential players to offer best-in-class service to the end user and develop their distribution channels and market share.  

 

Application & Regional analysis

The application segment of the High-Speed Oven Market is divided into domestic and commercial. In terms of revenue generation, the commercial segment led the High-Speed Oven market in 2022. Commercial speed ovens increase kitchens' ability to cook good dishes with excellent taste and textures. Due to the rising demand for high-speed ovens from fast-service restaurants, hotels, and the baking industry commercial speed ovens have seen rapid growth in the last decade. The demand for commercial speed ovens in bakery products is rising every year as people are consuming more bread, cakes, cookies, and fast foods.  

 

The regional outlook of the research study is based on an analysis of the market in North America, Europe, Asia Pacific, the Middle East, South America, Africa & Rest of the World. In terms of revenue generation, North America led the Global High-Speed Oven Market in the year 2022. The region has a developed food service industry with the highest popularity and consumption of fast foods. The U.S. dominated the region and accounted for a major revenue share followed by Canada. The Asia Pacific was the fastest-growing market with a rising number of hotels and restaurants, booming fast food consumption, rapidly developing foodservice industry, rising urbanization, and baking industry.  

Increased adoption of automation in food processing and rising awareness regarding high-speed ovens is expected to boost the growth of the Global High-Speed Oven Market in the forecast period. Europe was the second in terms of revenue generation in 2022. The growth in the European region was attributed to the presence of a well-developed food industry in terms of product offerings, sales channels, and an abundant consumer base. In addition to this increasing popularity of dining out, the rise in the number of the working population has increased the consumption of processed food products such as cakes, bread, and cookies that were previously prepared at home. South America and Middle East Africa region are expected to witness strong growth in the demand for high-speed ovens owing to the rise in the production of baked goods, industrialization, and huge investments in the food processing and hospitality industry.  

 

High-Speed Oven Market : Product Types

• Built-in high-speed ovens
• Countertop high-speed ovens

High-Speed Oven Market : Application

• Commercial
• Domestic

High-Speed Oven Market : Competitive Analysis

The report includes accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study constitutes of the following key players in the Global High-Speed Oven Market :

• General Electric Company
• Siemens AG
• Whirlpool
• Sharp Corporation
• Bosch
• Middleby
• Miele

Geographical analysis of High-Speed Oven Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global High-Speed Oven Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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