Conveyor Oven Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027 | Star Manufacturing, Davron Technologies, Wisconsin Oven Corporation, Middleby Corporation, Mahan Oven & Engineering Co.
Conveyor Oven Market – Global Share, Key Players, Segmentation Analysis, Business Growth 2027
Conveyor Oven Market – Industry Size, Share, Growth & Forecast 2027
A comprehensive overview of the conveyor oven market is recently added by UnivDatos Market Insights to its humongous database. The conveyor oven market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the conveyor oven market. The conveyor oven market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the conveyor oven market at the global and regional levels. Global Conveyor oven Market was valued around US$ 100 million in 2020 and is anticipated to cross US$ 130 million by 2027 displaying an CAGR of above 3% over the forecast period (2021-2027).
Market Overview
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. The growth of the conveyor oven market across the globe is witnessing growth on account of the growing number of pizza restaurants globally. For instance, according to ‘the Pizza Power Report 2021’ in the United States the total number of pizza locations increased from 77,724 to 78,092, a nudge of 0.47% in 2020. Also, in the same year, the number of independent pizzerias rose from 41,573 to 41,879, while the chains added a few stores, too, from 36,151 to 36,213. Furthermore, the thriving growth bakery industry and the increasing demand for a faster and convenient mode of cooking is also fueling the market growth.
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Additionally, The growth of the conveyor oven market across the globe is witnessing growth on account of 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. For instance, in the United States, consumer spending on pizza delivery reached roughly USD 14 billion in 2020, growing by around USD 3 billion between 2019 and 2020.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the conveyor oven industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic as the lockdown restrictions have resulted in the widespread closure of many production and manufacturing functions. As a result, there has been a decline in demand for conveyor ovens.
Global conveyor oven market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Power Source, the market is primarily fragmented into
- Gas
- Electric
Amongst Power Source, the market is fragmented into gas and electric. The electric segment generated revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027.
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By Technology, the market is primarily segmented into
- Radiation
- Convection
By Technology, the convection segment dominated the global conveyor oven market and is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027F. However, the radiation segment is also anticipated to grow at a considerable CAGR during the forecast period.
By End-Use, the market is primarily segmented into
- Countertop
- Industrial/Heavy
- Restaurant
- Hotels
- Bakery
- Food Processing
- Others
By End-Use, the industrial/Heavy segment dominated the global conveyor oven market and will row at X% CAGR to reach US$ X billion by the year 2027. The industrial segment is also further segmented into restaurants, hotels, bakery, food processing, and others.
Conveyor Oven Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
- Rest of the World
Geographically, the North America region dominated the conveyor oven market with almost US$ X billion revenue in 2020 owing to the rapidly growing market for bakery, confectionery, and convenience food in the region.
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The major players targeting the market includes
- Star Manufacturing
- Davron Technologies
- Wisconsin Oven Corporation
- Middleby Corporation
- Mahan Oven & Engineering Co. Inc.
- Lincoln
- XLT Inc.
- International Thermal Systems
- Lewco Inc.
- Zanolli
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the conveyor oven market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the conveyor oven market?
- Which factors are influencing the conveyor oven market over the forecast period?
- What are the global challenges, threats, and risks in the conveyor oven market?
- Which factors are propelling and restraining the conveyor oven market?
- What are the demanding global regions of the conveyor oven market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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