Commercial Oven Market : Global Opportunity Analysis and Industry Forecast, 2020-2027

[sonali sharma]

The commercial oven market is experiencing significant growth and will grow exponentially in the coming years. Commercial oven is providing features like baking, grilling and reheating. It is preferred in various restaurants and hotels because food is prepared in large quantities. Manufacturers are taking proper care of energy conservation, energy saver because the consumers are demanding that oven from which they can save the cost of electricity. The demand for commercial oven has increased due to the high preference for food made in the oven. The commercial oven is designed in such a way that it can be only used in commercial places, not in households because of its heavy material. It can be used for a full day and can hold electric power to reduce the effects of shocks.

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Market scope and structure analysis:

Report Metric Details
Market size available for years 2020–2027
Base year considered 2019
Forecast period 2021–2027
Forecast units Value ($US)
Segments covered Type, End-user, Nature, and Region
Regions covered North America (U.S, Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
Companies covered Whirlpool Corporation, SMEG, Sharp Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Electronics, Haier Group Corporation, Dongbu Daewoo Electronics, Alto-Shaam, and AB Electrolux. Original Equipment Manufacturers (OEMs)

COVID-19 ScenarioAnalysis:

COVID-19 pandemic has severely affected the commercial oven market. The supply of commercial oven is being stopped because China is the main supplier of this industry wherein raw material and finished products are imported. The electronic industry is facing issues like production, supply, and increase of prices. If the trade barriers remain the same, then it can increase the prices of commercial oven, which will further lead to a decrease in the sale of the commercial oven.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The demand for commercial ovens is increased in restaurants, hotels, and bakeries because of the taste preferences of the customer decline from traditional food. The increase in the consumption of pizzas, burgers, and pastries, has increased the requirement of ovens. The growing increase in the employment level, increase in disposable income, and change in living standards have increased the growth of the global commercial market. With the rise in the trend of working women, they can contribute less time in the kitchen, and mostly depend on restaurants, hotels, and bakeries for food. As they have to order, and they get their meal at their doorstep. The main contribution of increase the demand for the commercial oven is from online platformssuch as Zomato and Swiggy, wherein food can be ordered and the consumer can also get discounts, which has contributed to the growth of the commercial oven market. The commercial oven is segmented into different types of grillers, convection oven, and solo oven. Conventional oven is used for the heating purpose in which heat is equally distributed inside the oven and is mostly used in the restaurants and bakeries. Whereas solo oven used for boiling purpose in which baking and grilling is not possible. So, the different hotels according to their requirement of preparing the food, prefer different types of oven.

North America holds the highest revenue share in the commercial oven market owing to high demand for technology according to the preference of the customer. These countries can spend on these items. China is one of the major suppliers of the commercial oven because of the affordable raw material and finished product. China is scanning the market and checking the taste and preferences of the customer. Technology up-gradation is one of the major tools, which increases the demand for commercial oven.

Key Segments Covered:

Segments Sub-segments
Type
Electric
Gas
End User
Restaurant
Hotels
Bakeries
Others
Nature
Smart
Conventional

Key Benefits of the Report:

This study presents the analytical depiction of the commercial oven market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the commercial oven market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the Commercial Oven Market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global thermistor market analysis based on competitive intensity and how the competition will take shape in coming years.

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Questions Answered in the Commercial Oven Market Report:

What are the leading market players active in the commercial oven market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?