Global Residential Combination Steam Oven Market 2017-2021

Global residential combination steam oven market forecast

Research analysis of the global residential combination steam oven market identifies technological advancements and product innovation that lead to premiumization as one of the major factors that will have a positive impact on the market’s growth. The adoption of new technology, touch panels, and smart connectivity and the utilization of new and strong materials for manufacturing these ovens have resulted in the premiumization of these ovens. Gaggenau has already introduced the 400 Series built-in combination steam oven with handle-free doors and can be opened by a touch on its thin film transistor (TFT) touchscreen. Similarly, Electrolux has also launched a steam oven with built-in cameras that help consumers monitor the dish while it is in the oven. With the growing focus to introduce innovative products, manufacturers are making huge R&D investments, which in turn, will make steam ovens a premium category of home appliances. According to the residential combination steam oven market analysis, Technavio’s market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.

In terms of geography, the Americas accounted for the major share of the residential combination steam oven market during 2016. This is mainly due to the change in lifestyle and the increase in per capita income of people in this region. Consumers in the developed countries such as the US are more aware of the concept of steam cooking and are preferring these appliances. Vendors are already offering these ovens in a bunch of colors, designs, and features such as anti-fingerprint handle. Developing countries including Argentina, Brazil, and Chile also account for considerable shares of this market in this region.

Competitive landscape and key vendors

Owing to the presence of several large and small-scale vendors, this combi steam oven market appears to be highly competitive. The players in the residential combination steam oven market have a diverse portfolio of products and offer basic and new innovative products to consumers. The regional or local vendors also provide a wide range of products and pose a stiff challenge to the established players.

The leading vendors in the market are 

• Electrolux
• Samsung
• Robert Bosch
• Haier
• Metall Zug Group

The other prominent vendors in the market are Bertazzoni, Foxconn Electronics, Miele, SMEG, SUB-ZERO WOLF, and Whirlpool.

Segmentation by distribution channel and analysis of the residential combination steam oven market

• Offline
• Online

The offline segment comprises specialty stores, hypermarkets, supermarkets and clubhouses stores, and departmental stores. These stores provide products of all categories and its related products and present a better display of products to customers. According to this market research report, the offline distribution channel accounted for the major sales of these steam ovens during 2016.

Segmentation by door type and analysis of the residential combination steam oven market

• Single door
• Double door

The single door segment accounted for major shares of this combi steam oven market during 2016. Single door steam ovens come in handy in cases where consumers have a space crunch. Single door residential combination steam ovens have a capacity of around 35-45 liters, that is adequate to cook meals for small families or for people living alone. This segment will result in an increase in the residential combination steam oven market size.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global residential combination steam oven market?
• What are the key market trends impacting the growth of the global residential combination steam oven market?
• What are the challenges to market growth?
• Who are the key vendors in the global residential combination steam oven market?
• What are the market opportunities and threats faced by the vendors in the global residential combination steam oven market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global residential combination steam oven market? 

Technavio also offers customization on reports based on specific client requirement.