Commercial Ovens Market Size, Share, Growth, And Industry Analysis, By Type (Gas Ovens, Electric Ovens), By Application (Restaurants, Hotels, Schools, Bakery, Others), Regional Forecast To 2031

Updated On: 29 April 2024

Commercial Ovens Market Report Overview:

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The global commercial ovens market size was US$ 2342 million in 2021 & the market is expected to generate substantial revenue USD 3054 million in 2031, exhibiting a CAGR of 2.6% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the commercial ovens market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The commercial ovens market is a dynamic and rewarding space, boasting a range of businesses specializing in the engineering and production of commercial ovens and related equipment. These ovens offer a broad selection of uses and applications, not only in the food and hospitality fields but provide an effective method of preparing and cooking a variety of meals. Common features include digital temperature controls, timers, convection or steam modes, even baking and smoke chamber settings, plus convenient transportation features. Professional chefs and commercial kitchen workers turn to these premier products to make tasty dishes for their customers. With a determined focus on caliber, many brand-new features, and a wide breadth of models, the commercial ovens market provides an essential resource for any professional kitchen.

In recent years, the market for commercial ovens has seen dramatic expansion due to an increased focus on commercial kitchen operations. Businesses have begun to realize the importance of possessing efficient and reliable ovens to prepare a variety of dishes quickly and easily. Consequently, restaurant owners, smaller bakers, and grocery stores are now seeking out commercial ovens with cutting-edge safety features and advanced culinary technologies, leading to a surge in demand. Professional chefs and restaurant proprietors have also begun adjusting their preferences to include these feature-rich commercial ovens, in order to guarantee the quality and security of their dishes. This rise in demand has acted as a catalyst for growth in the commercial oven marketplace.

COVID-19 Impact: Adverse Impact on the Market Resulting in Curtailed Global Demand, Diminished Sales and

The COVID-19 pandemic has had an unmistakably adverse influence on the commercial ovens market. Global demand has been significantly curtailed, causing diminished orders for industrial ovens and relevant apparatus, resulting in diminished sales and earnings. Companies are being made to alter their spending tendencies, with the emphasis shifting to indispensable items first. The majority of producers face wastage due to overcapacity and the need to re-gear production facilities, which presents added troubles. In the long run, the restoration of the market will depend severely on government and private industry stimulants, as well as the return of consumer trust. It is, therefore, essential for companies to be able to effectively adjust and confidently advance their operations soon.

Latest Trends:

"Digital Control, Energy Efficiency, and Smart   Strategies Go Hand-in-Hand"

The commercial ovens market growth is skyrocketing with numerous options available. Modern trends such as digital controls, improved energy efficiency, prompt preheating, and greater energy savings have become the latest occurrences in the market. The elevated requirement for quality food has had a positive influence on the commercial ovens market and renowned companies like Electrolux, LG, and Sharp have stepped into the fore with their newly introduced products that are integrated with state-of-the-art features to make cooking faster and more efficient. In addition, these enterprises are striving to implement wireless and smart strategies to improve user experience. The focus on energy-efficient ovens and smarter technology has induced further growth in the commercial ovens market, which is expected to continue in the times to come.

Commercial Ovens Market Segmentation:

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• By Type

According to type, the market can be segmented into Gas Ovens, Electric Ovens

• By Application

Based on application, the market can be divided into Restaurants, Hotels, Schools, Bakery, and Others

Driving Factors:

Commercial cooking and baking equipment industry is experiencing a surge in demand, with commercial ovens being one of the most sought-after types of cooking equipment in restaurants, cafes, and other food service establishments worldwide. The global commercial ovens market is expected to grow consistently during the forecast period. The growth can be attributed to two major factors.

"Rising demand for commercial ovens fueled by the booming hospitality industry "

The first factor is the growing demand from the hospitality industry, which has been rapidly expanding in recent years. The middle-class population's increasing disposable income, social media influence, and growth of the travel and tourism sector have been the main drivers of this expansion, leading to the emergence of numerous cafes, hotels, and restaurants worldwide. As more businesses open up, the demand for commercial ovens is also escalating. Commercial ovens not only enable faster cooking and baking but also ensure uniformity in taste, texture, and quality.

"Innovation and Advanced Technology are Making Cooking Smarter and Easier Than Ever"

Another factor is the constant innovation and technological advancements in the industry. Manufacturers are continually seeking to create more efficient, durable, and user-friendly ovens. They are also introducing new technologies, such as touch screens, Wi-Fi compatibility, self-cleaning ovens, cloud-based controls, and smart ovens that are controlled using a smartphone or tablet. These technological advancements aim to provide users with more convenience and flexibility.

To sum it up, the global commercial ovens market is projected to grow significantly in the next few years, driven by the increasing demand from the hospitality industry and continuous innovation and technological advancements. Manufacturers need to prioritize creating innovative, efficient, and reliable products that cater to the needs of modern-day chefs and food entrepreneurs. Energy efficiency, user-friendliness, and automation will continue to be critical factors for success.

Restraining Factors:

"High-Cost Prohibits commercial ovens market Expansion"

The commercial oven market has been steadily expanding in the last few years, however, it has been hindered by some factors. A major impeding factor is a high cost associated with purchasing and maintaining commercial ovens since the pricing of certain ovens hinders small businesses from joining the ovens market, limiting the growth potential. In addition, as ovens become more high-tech and developed, they are becoming more pricey - making them expensive for some businesses, hence restraining their demand. In spite of these difficulties, the commercial ovens market is anticipated to grow in the near future as businesses more and more strive for efficient and automated baking solutions.

Commercial Ovens Market Regional Insights:

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"North America Leads the Way as Demand for Commercial Ovens Booms in Growing Food Service Industry"

North America is projected to experience exponential growth due to its role as the top-leading region and it holds the majority of the commercial oven market share. This is mainly driven by the strong and growing food service industry in countries such as the USA, Canada, and Mexico, which provide various opportunities for key players in the market. These opportunities are further fuelled by the abundance of technologically advanced commercial ovens, increasing demand for convenience foods, and growth in the food catering service sector. Moreover, advancements in food safety regulations provide additional impetus for the growth of the market in the region. Manufacturers are focusing on technological improvements in production processes and more extensive product offerings to capitalize on the potential of the North American market.

Key Industry Players:

"“Adoption of Innovative Strategies by Key Players Influencing Market Development”"

Prominent market players are collaborating with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies players use to expand their product portfolios.

List of Market Players Profiled:

• RATIONAL (HQ: Germany)
• WERNER & PFLEIDERER (HQ: Germany)
• Eloma (HQ: Germany)
• Convotherm (HQ: Germany)
• Middleby (HQ: United States)

Report Coverage:

This report examines an understanding of the commercial ovens market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.