Wall Ovens Market Size, Share, Growth, and Industry Growth, By Type (Single Wall Oven, Double Wall Oven, and Combined Wall Oven), By Application (Home Use and Commercial Use), Regional Forecast To 2031

Updated On: 01 April 2024

Wall Ovens Market REPORT OVERVIEW

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The global wall ovens market size was USD 4604.9 million in 2022 and is projected to touch USD 9516.65 million by 2031, at a CAGR of 8.4% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Wall ovens are perfect for every kitchen, regardless of the arrangement and space restrictions. The ovens are used to heat or cook and manufacture pottery and ceramics. The metallurgical furnaces are also ovens that are used in manufacturing metals. A wall oven is an oven that can be mounted on the wall space and can be placed separately from your cooktop. An oven has a hollow chamber and uniformly offers a means of heating. Ovens are used to accomplish various tasks requiring uniform heating. Different types of ovens are available in the market for multiple purposes. 

Many types of ovens produce heat. Some ovens heat materials with the help of fuel combustion, such as natural gas, coal, or wood. The wall fitted ovens are perfectly paired with the kitchen cooktop and can supplement a freestanding range for extra cooking capacity. Installing a wall oven provides excellent flexibility and convenience and is efficient for the kitchen space. The wall ovens can be installed at eye level, which offers more comfort. A wall oven does not require much space; thus, you can have multiple ovens and utilize the wall space. 

Covid-19 Impact: Shut Down of Production Industries Harmed Market Growth

The outbreak of COVID-19 disrupted the growth of various industries including automotive, aerospace, transport, and consumer goods. The wall fitted ovens market witnessed a significant halt in the growth rate due to the lockdown of the nation. The stringent rule for the population to stay indoors affected the growth of the consumer goods sector. The population was taking precautionary measures to avoid the spread of the virus. The population avoided stepping outside their homes and buying any goods. The global economy experienced a downfall due to various laws imposed by the government. However, the market is expected to recover due to the higher adoption of advanced kitchen tools.

LATEST TRENDS

"Improved Living Standards of Consumers to Surge Product Adoption"

The rising disposable income of the population is leading the consumers toward an improved standard of living. Additionally, increasing interest of the people in remodeling and renovating the kitchen is forecasted to develop assistance in the market. Modification in kitchen appliances and their designs are expected to be an essential growth factor. Moreover, consumers spending heavily on producing a smart kitchen. Consumers are inclined toward advanced kitchen appliances, which are estimated to bolster product demand.

Wall Ovens Market Segmentation

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• By Type Analysis

By type, the market is segmented into single wall ovens, double wall ovens, and combined wall ovens.

The double-wall oven will likely dominate the market due to its space utility and efficiency. 

• By Application Analysis

Based on application, the market is classified into home use and commercial use.

Home use is expected to lead the market due to the rising trend of modular kitchens associated with consumer preference for sophisticated designed kitchens.

DRIVING FACTORS

"Rising Use of Wall Ovens in Food Processing Industry to Aid Growth"

The escalating number of wall fitted ovens usage in various industries such as restaurants and food processing is expected to create growth opportunities for the market. The increasing number of connected devices in smart homes and the inclination of the urban population toward ovens fitted under the wall equipped with connectivity are likely to generate growth in the market. Additionally, the rising expenditure on kitchen appliances, especially built-in appliances, is expanding and forecasted to boost market growth.

"Demand for Kitchen Space to Boost the Market Growth"

The demand for modular kitchens boosts the demand for space in the kitchen as installing advanced kitchen appliances requires space. The need for space is expected to increase the adoption of wall ovens. Additionally, rising demand for premiumization and upgrading consumers' preferences is estimated to drive market growth. Moreover, the population is inclined toward comfort and modern designs, which is anticipated to surge growth in the market. Furthermore, the inclination of the people towards premium features and structures such as kitchen island and magic corners concept is forecasted to drive growth in the market. 

RESTRAINING FACTORS

"High Installation and Maintenance Costs to Impede Growth"

The installation of wall ovens costs higher as it requires space in the wall, and choosing the wrong size could create problems. The oven set-up inside the wall costs more elevated than the conventional ovens. Additionally, repairing these wall ovens costs more than fixing a regular oven, which may limit the market growth. These ovens work on electricity. Thus, they may cost more and impede the global and united states wall ovens market growth.

Wall Ovens Market REGIONAL INSIGHTS

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"North America to Lead the Market Owing to the Boom in Kitchen Renovations"

North America is expected to hold maximum contribution to wall ovens market share due to the rising residential construction and the sudden boom in kitchen remodeling and renovation projects. The U.S. is anticipated to be the significant contributor backed by the steady adoption of modern kitchen appliances.

Europe is forecasted to show significant growth due to the rising number of connected devices and smart homes in the region. Additionally, the increasing demand for double wall ovens is estimated to surge growth in the market. 

Asia Pacific is anticipated to show sizeable growth in the market owing to its fastest-growing capacity. Additionally, the western lifestyle adoption and changing consumers' preference for advanced kitchen appliances are forecasted to augment growth in the market. Moreover, the rising demand for kitchen remodeling and renovation is anticipated to boost the wall ovens market growth.

KEY INDUSTRY PLAYERS

"Key Players to Emphasize On Product Portfolio Enhancement to Grow "

The market is fragmented and consists of various competitors, including small, medium, and large companies. The companies are engaged in developing strategic alliances to enhance their product portfolio. Industry players to produce organic and inorganic growth strategies such as product launch, portfolio expansion, and expansion to grow in the global market. Competitors also emphasize sustaining the market of heavy competition. The emergence of advanced products is expected to escalate the product demand and support the market growth.  

List of Market Players Profiled

• Bosch (Germany)
• Electrolux (Sweden)
• GE Appliances (U.S.)
• LG (South Korea)
• Whirlpool (U.S.)

REPORT COVERAGE

The report gives a close watch on the major factors influencing growth in the market. It also covers the market forecast based on its segments, regional analysis, and driving factors. The factors anticipated to affect the market's growth are also included in the report. A study on market essentials offers complete insights into the market. The list of key market players is also mentioned to represent the company’s location and strategies. The report presents the competitive analysis to offer a brief idea about the existing competition.