Market Highlights
Global Multi Ovens Market is expected to grow at 4.5% CAGR during the forecast period.
Global Multi Ovens Market is projected to be valued at approximately USD 30 Billion by 2025, with 4.5% CAGR during the forecast period, 2020–2025. Multi ovens are built with multiple heating elements behind the oven walls including a top one, a bottom one, and one coiled around an electric fan, plus a grill element within the cavity that is used in combination or separately to give optimum performance according to what you are cooking. The restaurant industry has flourished in the past few years against the backdrop of increasing the ‘Dine Out’ trend. A new trend called ‘Eating In’ is transforming the landscape of the restaurant industry. The trend has invited a prominent shift in consumer preference towards eating at home against dining out. As a result, more restaurant & hotel outlets are being opened, thereby, boosting the demand for multi ovens in recent years.
Asia-Pacific contributed significantly to the multi ovens market in terms of share: MRFR
The global multi ovens market has been segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific is expected to hold a significant share of the market during the forecast period. Asia-Pacific holds a significant multi ovens market share owing to the low cost of production and availability of cheap labor in countries such as China and India. The global multi ovens market has been segmented based on product, end-user, and power source. Based on product, the global market is divided into steam generated and boilerless.
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The steam generated product segment is anticipated to hold a significant share of the market during the forecast period. However, the boilerless segment is projected to grow at a significant rate in the global multi ovens market. Based on end-user, the global multi ovens market is segmented into hotels & restaurants, bakery stores, retail outlets, domestic & institutional, and commercial kitchens. The hotels & restaurants end-user segment is estimated to grow at a significant rate during the forecast period due to increasing expenditure on food outside home and rising consumer preference for a variety of cuisine food products. Based on power source, the global multi ovens market has been divided into gas and electric. The electric power source segment is anticipated to hold a significant share within the global multi-ovens market.
Scope of the Report
This report provides an in-depth analysis of the global multi ovens market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global multi ovens market by product, end-user, power source, and region.
Product
- Steam Generated
- Boilerless
End-user
- Hotels & Restaurants
- Bakery Stores
- Retail Outlets
- Domestic & Institutional
- Commercial Kitchens
Power Source
- Gas
- Electric
By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Key Players
Key industry participants in the multi ovens industry include GE, Whirlpool Corporation, Frigidaire, Kenmore, KitchenAid, Bosch, Siemens, SAMSUNG, Media, Haier and Panasonic.
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