The global conveyor oven market size is anticipated to showcase robust growth in the forthcoming years due to rising demand from the food & beverage industry. This information is published by Fortune Business Insights in its report titled, "Conveyor Oven Market, 2024-2032". Increased production of the oven with its multiple stages, utilizing advanced sensor technology, and integrated with easily detachable panels presents market growth potential. The oven is experiencing increased demand as the food-service industry increasingly invests in appliances that can significantly enhance food production capacity.
Information Source: https://www.fortunebusinessinsights.com/conveyor-oven-market-104637
List of Key Players Profiled in the Conveyor Oven Market:
- Zanolli
- Stoddart International Thermal Systems
- Middleby Corporation
- Davron Technologies Inc
- Mahan Oven & Engineering Co. Inc
COVID-19 Impact
COVID-19 Hampered Market Growth
Following the closure of industries as a result of COVID-19, the supply of conveyor ovens in different sectors has decreased. This had an impact not only on the volume of operations but also on the expansion of these businesses. Attributed to global lockdown, all online marketplaces, retailers, and retail establishments were closed. This had an impact on the trading of these goods. As a result, sales of these ovens in several regions have been affected. Once the countries withdraw their trade restrictions and resume trading, sales of the product are projected to ramp up.
Segments
Electric Being Cost-efficient to Hold Larger Share
On the basis of product type, the market is bifurcated into countertop conveyor oven and industrial conveyor oven. Based on application, it is fragmented into restaurant, hotels, bakery, and others. By power source, it is divided into electric and gas. Based on geography, it is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The insights in the report are based on primary and secondary research to come up with authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product.
Driving Factor
Rising Expenditures on Food to Augment Product Sales
The rising demand for the oven is caused by the increasing consumer expenditure on food products around the world. According to the Department for Environment, Food and Rural Affairs, the United Kingdom's expenditure on food, drinks, and catering is expected to reach USD 312 billion in 2019, gaining 2.1 % since 2018. The product facilitates the streamlining of workflow and the production of regular products, making it an excellent oven for industrial operation.
Furthermore, the booming growth of hotel industry in many places throughout the world has aided in gaining traction as well as conveyor oven market growth.
Regional Insights
Booming Bakery Business in North America to Propel Growth
North America is estimated to hold a prominent conveyor oven market share in the forthcoming years. This is owing to the booming bakery business in this region, which resulted in rise in oven utilization. According to the American Bakery Association, bakery sales in the U.S. are expected to exceed USD 14 billion, with a year on year growth rate of +2.2 %. Furthermore, rising demand for the product among fast-food chains, such as McDonald's, Chick-fil-a, Papa John's, Popeyes, and others, is aiding market expansion.
Asia Pacific is anticipated to have a substantial growth in the forecast period of 2020-2028. This is due to the flourishing pizza industry in the region.
Competitive Landscape
R&D Facilitates a Competitive Edge to Major Manufacturers
The market major players are concentrated on the product development and increase their distribution areas. With key manufacturers customising their products to meet the needs of specific regions, the market is likely to grow significantly. Certain manufacturers are projected to gain a market edge in the long run as they focus on reducing their products' electricity consumption. In addition, strategic mergers are enhancing the market competition while benefiting all parties involved.
Industry Development:
- October 2020: The fast bake conveyor pizza oven by Lincoln Impinger has been unveiled recently. It has a digital control panel that allows users to easily adjust the cooking time and temperature.
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