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The commercial convection oven market share in Europe is expected to increase by USD 66.62 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.19%.
This commercial convection oven market in Europe research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial convection oven market in Europe segmentations by product (electric and gas) and geography (Germany, UK, France, and Rest of Europe). The commercial convection oven market in Europe report also offers information on several market vendors, including Ali Group Srl, Alto-Shaam Inc., Bartscher GmbH, Duke Manufacturing, Electrolux Professional AB, Hobart Corp., Kolb Huizhou Ltd., Smeg Spa, The Middleby Corp., and UNOX Spa among others.
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The growth of European foodservice industry is notably driving the commercial convection oven market in Europe growth, although factors such as increasing demand for combination ovens may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial convection oven industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Convection Oven Market Driver in Europe
One of the key factors driving the commercial convection oven market growth in Europe is the growth of European foodservice industry. Commercial convection ovens are one of the crucial cooking equipment in many bakeries and pizzerias across the world. These ovens are used for baking croissants, bread, pizzas, pies, pastries, among others. The sales of commercial convection ovens are directly proportional to the increase in the number of foodservice establishments such as bakeries and pizzerias. Hence, the growth of the foodservice industry in Europe provided high growth opportunities for vendors in the market in 2020. Rapid urbanization across Europe and rising disposable income have been the major factors driving the growth of the foodservice industry in Europe. The demand for far away from home (FAFH), which includes meals and snacks supplied by commercial foodservice establishments, increased in 2020. FAFH consumption is very high in countries such as the UK and Germany.
Key Commercial Convection Oven Market Trend in Europe
Product innovation is the major trend influencing commercial convection oven market growth in Europe. Manufacturers are introducing updated convection oven technologies with improved design to cater to the increasing demand from customers. The convenience and short delivery period have been major factors driving the growth of the QSR and fast-casual restaurant models in the region. Most of the QSRs and fast-casual restaurants in Europe have small kitchen and service areas, which has increased the demand for compact kitchen equipment. Hence, to cater to the growing demand for convection ovens from QSRs and fast-casual restaurants, vendors in the market are focusing on developing compact convection ovens. In addition, to further reduce the size of the ovens, vendors are developing and launching ventless convection ovens. For instance, in February 2020, The Middleby Corp.'s subsidiary Blodgett launched Freestanding Ventless Convection Oven. Such developments are expected to provide high growth opportunities for vendors in the market during the forecast period.
Key Commercial Convection Oven Market Challenge in Europe
Increasing demand for combination ovens is one of the key challenges hindering the commercial convection oven market growth in Europe. The rise in consumer awareness increases product familiarization. Many price-sensitive consumers prefer to buy microwave ovens, traditional ovens, or indoor grills, which are less expensive or have a high return on investment (ROI) than commercial convection ovens. Major restaurants and contract kitchens prefer foodservice equipment that can perform multiple tasks, which may also replace individual commercial kitchen equipment. Combination ovens and deck ovens help foodservice companies in multi-tasking. Commercial combination ovens have many advanced features and can cook food items in large quantities. Hence, these ovens are preferred over commercial convection ovens. Combination ovens can be operated using electricity and gas. The availability of these ovens in varied sizes increases their demand in the foodservice industry. Combination ovens can also be substituted for individual convection ovens and steamers. Hence, the increasing demand for commercial combination ovens is expected to hamper the sales of commercial convection ovens during the forecast period.
This commercial convection oven market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the commercial convection oven market in Europe as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial convection oven market in Europe during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial convection oven market in Europe encompasses successful business strategies deployed by the key vendors. The commercial convection oven market in Europe is fragmented and the vendors are deploying growth strategies such as launching compact and ventless convection ovens to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial convection oven market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the commercial convection oven market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by vendors to ensure a sustainable market presence.
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36% of the market's growth will originate from UK during the forecast period. Market growth in this region will be faster than the growth of the market in Germany and France regions.
Pubs, clubs, and bars are the largest revenue contributors to the foodservice industry in the UK. Increasing investments by the QSR and fast-food segments have been a major factor driving the growth of the foodservice industry in the UK. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Most restaurants and pubs were forced to shut down temporarily due to the rising number of COVID-19 cases in 2020. The rising number of COVID-19 cases drastically reduced the overall footfall in physical stores. Hence, vendors are offering delivery or takeaway services to survive in the changing market scenario. Therefore, the commercial convection oven market in the UK is expected to recover during the forecast period. The initiation of vaccination drives across the country and the removal of lockdown restrictions in H1 2021 resulted in the opening up of pubs, clubs, and restaurants, which is expected to drive the market in focus in the country during the forecast period.
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The commercial convection oven market share in Europe growth by the electric will be significant during the forecast period. The high energy efficiency of electric convection ovens has been a major factor driving their demand in Europe.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial convection oven market size in Europe and actionable market insights on post COVID-19 impact on each segment.
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Commercial Convection Oven Market Scope in Europe |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.19% |
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Market growth 2021-2025 |
$ 66.62 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.65 |
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Regional analysis |
Germany, UK, France, and Rest of Europe |
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Performing market contribution |
UK at 36% |
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Key consumer countries |
Germany, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Ali Group Srl, Alto-Shaam Inc., Bartscher GmbH, Duke Manufacturing, Electrolux Professional AB, Hobart Corp., Kolb Huizhou Ltd., Smeg Spa, The Middleby Corp., and UNOX Spa |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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