Conveyor Ovens Sales Set to Expand at 3.7% through 2021; Demand for Electric Conveyor Ovens Enabling Growth: Fact.MR
NEW YORK, May 12, 2021 /PRNewswire/ -- In its report on the global conveyor oven market, Fact.MR has projected the market to witness a steady growth over the forecast period from 2021 to 2031. Growing consumption of fast food and rising demand from the industrial sector such as food catering unites, and restaurants are propelling the demand of conveyor ovens in the market. Demand for faster cooking, and reducing the labor reliance has improved the adoption of conveyor ovens through 2021.
Furthermore, demand for electric conveyor ovens within the industry players is increasing day-by-day due to its advantages of speedy cooking, and lesser workforce. Additionally, the convenient size and upgraded features is aiding the popularity of electric conveyor oven among small sized food vendors and within bakeries in developed countries such as Australia, Canada and United States. Hotels, food processing units and restaurants are burgeoning the demand for counter-top conveyor ovens, accelerating the growth of the market.
Fact.MR estimates, based on aforementioned factors, the global conveyor ovens market is expected to surpass valuation of US$137.4 Mn by 2031-end.
"Rising demand for advanced equipment for easy and fast cooking in restaurants, bakery and hotels has faciliated the adoption of conveyor ovens" says a Fact.MR analyst.
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Key Takeaways
- Based on technology, convection technology segment is expected to register highest growth over the forecast period
- While electric conveyor oven segment accounted for highest share, gas conveyor segment is expected to overtake as the leading segment
- Industrial oven segment is poised to remain lucrative for the market players through 2031 backed by the high demand from restaurants & food processing units
- United States will remain the major contributor to the growth of global conveyor market through 2031
- Higher production due to the surging demand from industrial sector across China will provide growth opportunities to market players
- Australia and Japan is expected to register high growth over the forecast period
Competitive Landscape
Middleby Corporation, Lewco Inc., Picard Ovens Inc., Davron Technologies Inc., Star Manufacturing, Wisconsin Oven Corporation, Zanolli, Stoddart International Thermal Systems, Mahan Oven & Engineering Co. Inc., Infratrol LLC, Doyon, Moretti Forni, OEM-ALI Spa, Ovention, Italfornia USA, Lincoln, and XLT Inc. among others are some of the manufacturers profiled by Fact.MR. According to Fact.MR, aforementioned players are relying on the blend of organic and in-organic strategies such as mergers, collaborations and strengthening their regional & distribution networks.
In February 2020, Grieve Corp, launched its new electrically heated belt conveyor oven, No. 853, for curing coating and heat-shrinking plastics.
Also in 2019, Thermal Product Solutions, a global manufacturer of thermal-processing equipment, announced the shipment of a Gruenberg Conveyor Oven to the medical device industry.
Furthermore, in November 2019, International Thermal Systems, shipped a multi-lane curing conveyor oven, to increase production for US manufacturers.
Likewise, Wisconsin Oven Corporation announced the shipment of natural gas conveyor oven, in 2018, to a leader of forging industry for the usage of preheating oven for aluminum belts.
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More Valuable Insights on Conveyor oven Market
In its latest research report, Fact.MR delivers an insightful details on the global conveyor ovens market trends and growth scenario for the period of 2021 and 2031. To gain a better understanding on the shortcomings and forthcomings of the global conveyor ovens market, the market is segmented on the basis of power source (electric conveyor oven, and gas conveyor oven), technology (convection and radiation), type (countertop, industrial/heavy restaurant, bakery, hotels, food processing, and other catering services), and across major regions such as North America, Europe, Asia Pacific, Middle East & Africa and South America.
Key Questions Covered in the Report
- What will be the future growth outlook of global conveyor ovens market?
- What are the headwinds and tailwinds that the market is expected to witness over the coming years?
- Which is the most lucrative segment for the global conveyor oven market?
- Which region is expected to provide growth opportunities for conveyor ovens market players?
- What is the impact of Covid-19 on conveyor oven market?
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