Portland, OR, Nov. 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global high speed oven market was estimated at $2.3 billion in 2020 and is expected to hit $3.6 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increase in demand for fast food and proliferation of food service industry drive the growth of the global high speed oven market. On the other hand, availability of alternative restrains the growth to some extent. However, increasing awareness about high speed ovens in the developing countries is expected to create lucrative opportunities in the industry.
COVID-19 scenario:
- Closing down of commercial food establishments across the world impacted the global high speed oven market negatively.
- However, innovation in products and increased sales via online channels are expected to help the market recoup soon.
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The global high speed oven market is analyzed across type, end user, sales channel, and region. By type, the built in segment held the highest market share in 2020, holding more than three-fourths of the global market. The countertop segment, on the other hand, is projected to manifest the fastest CAGR of 5.6% from 2021 to 2030.
By end user, the commercial segment contributed to the major share in 2020, accounting for nearly three-fourths of the global market, and is expected to lead the trail during the forecast period. Simultaneously, the residential segment is anticipated to cite the fastest CAGR of 5.5% from 2021 to 2030.
By region, Europe held the highest market share in terms of revenue 2020, garnering more than two-fifths of the global high speed oven market. At the same time, the Asia-Pacific region is projected to showcase the fastest CAGR of 6.7% throughout the forecast period. The other provinces discussed in the report include North America and LAMEA.
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The key market players analyzed in the global high speed oven market report include Breville Group Limited, Cookkart, Electrolux AB, Bosch, The High Speed Oven Company, Kanteen India Equipments Co., Whirlpool Corporation, Miele&Cie KG, Panasonic, and SMEG S.p.A. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
