Global Conveyor Oven Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
- Himanshu Patni
- September 29, 2021
- CONSUMER GOODS, NEWS
- Conveyor Oven Market, Conveyor Oven Market growth, Conveyor Oven Market share, Conveyor Oven Market size, Conveyor Oven Market trend
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Global Conveyor Oven Market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2028) from USD XX billion in 2020. Conveyor ovens refer to the ovens that are used in the foodservice industry and consist of one or more belts to efficiently move the food product through the heated chamber. These are most commonly used in pizza restaurants that provide home deliveries and takeaway services.
In 2020, the number of pizza restaurants established was 78,092 in the United States alone. Even after the year-on-year fluctuations, the number of pizza restaurants was increased by roughly 6,000 units over the past 9 years. Thus, there has been intense competition among the independent chains of pizza and restaurants as they offer the same products. Therefore, many of these outlets are deploying conveyor ovens in their outlets to remain ahead of the competition as this type of oven helps them increase their productivity by reducing the preparation time of pizza or other baked products. Furthermore, the rising consumer spending on pizza delivery and the need to deliver their orders in time is also fueling the demand for conveyor ovens over the globe.
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Furthermore, the conveyor oven market is witnessing an uptick because of the thriving market for bakery, confectionery, convenience food, and fast-food products which has been contributing to the escalating demand for conveyor ovens. Furthermore, the increased spending on food by the US population has also been boosting the market of conveyor ovens. For instance, the average annual household food expenditure of the US population increased from USD 6,129 in the year 2010 to USD 8,169 in 2019. Whereas in 2018, the average U.S. household food expenditure amounted to approximately 7,923 U.S. dollars.
Based on power source, the market is divided into gas and electric. The electric segment dominated the conveyor oven market and grabbed XX% market share in 2020 and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as electric ovens are more cost-efficient as they require less time and training for the employees which can cut cost for many restaurants.
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Based on technology, the global conveyor oven market is segmented into radiation and convection. The convection segment occupied the largest share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027. The segment generated revenue of US$ XX billion in 2020 as more and more chefs and bakers prefer this type of oven because of their shorter cooking time and improved cooking.
Additionally, the report provides detailed report also provides insights of global conveyor oven market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to an overall rise in consumer spending on food in the region. At the same time, Asia-Pacific is also identified as a potential market offering significant growth opportunities for several market players in the global conveyor oven market.
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Star Manufacturing, Davron Technologies, Wisconsin Oven Corporation, Middleby Corporation, Mahan Oven & Engineering Co. Inc, Lincoln, XLT Inc., International Thermal Systems, Lewco Inc., Zanolli are some of the key players operating in the global conveyor oven market. Several M&As along with partnerships have been undertaken by these players to develop new and advanced featured ovens.
Global Conveyor Oven Market Segmentation
Market Insight, by Power Source
Market Insight, by Technology
Market Insight, by End-Use
- Food Processing
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Star Manufacturing
- Davron Technologies
- Wisconsin Oven Corporation
- Middleby Corporation
- Mahan Oven & Engineering Co. Inc.
- XLT Inc.
- International Thermal Systems
- Lewco Inc.