Commercial High-speed Oven Market

Commercial High-speed Oven Market Outlook from 2024 to 2034

The global commercial high-speed oven market size reached US$ 2,868.2 million in 2023. Over the forecast period, commercial high-speed oven demand is anticipated to rise at 6.7% CAGR. Total market value is predicted to increase from US$ 3,037.3 million in 2024 to US$ 5,801.3 million in 2034.

Demand for commercial high-speed ovens is projected to remain steady in the restaurant segment. The latest commercial high-speed oven market analysis shows that the built-in ovens segment is projected to thrive at 5.6% CAGR during the assessment period.

Key Commercial High-speed Oven Market Trends

• Restaurants are set to be one of the leading end-use industries for commercial high-speed ovens.
• Investments in the food & beverage sector are expected to see a significant hike over the forecast period as the global population and demand for food products increase.
• Rising demand for ready-to-eat food and beverages is expected to propel sales of equipment such as ovens, refrigerators, commercial freezers, and other refrigeration units.
• Commercial high-speed oven sales are expected to be driven by their efficiency in rapidly preparing a variety of foods.
• The emergence of advanced technologies ensuring energy savings is also projected to bolster demand. Their versatility caters to diverse menu items, and compact designs optimize limited kitchen space.
• Ongoing technological advancements align with consumer trends, favoring fast and varied menu options.
• With the global expansion of the food service industry, these commercial kitchen appliances play a pivotal role in enhancing operational efficiency, making them a key component for quick-service restaurants seeking swift and streamlined cooking solutions.

Key Commercial High-speed Oven Market Highlights

Market to Expand About 1.9X through 2034

• The global commercial high-speed oven market is predicted to expand around 1.9X through 2034, amid a 3.9% increase in expected CAGR compared to the historical one.
• Growth is due to the increasing demand from quick service restaurants amid changes in lifestyle and rapid urbanization.
• Global sales of commercial high-speed ovens are expected to rise due to the growing demand for quick and efficient food preparation in commercial kitchens.
• The increasing emphasis on energy-efficient and versatile cooking equipment, coupled with the expanding food service industry globally, contributes to the heightened adoption of high-speed ovens.
• Advancements in technology and consumer preferences for fast & diverse menu options further drive sales in the commercial high-speed hybrid oven market.
• The ability of high-speed ovens to enhance operational efficiency and meet the evolving needs of the food service sector is anticipated to aid growth.

Europe to Dominate the Commercial High-speed Oven Market

• Europe is expected to retain its dominance in the global commercial high-speed oven market during the forecast period. It is set to hold around 34.0% of the global market share in 2034.
• Europe is poised to emerge as a frontrunner in driving the demand for commercial high-speed ovens, exhibiting a dominant market share of over 34.0% in 2034.
• Significant growth trajectory is anticipated to unfold by 2024, marking Europe's pivotal role in shaping the commercial high-speed oven market landscape.
• Several variables have come together to give rise to its leading position, including the changing needs and preferences of modern customers.
• Customers in Europe have a noticeable preference for high-speed ovens, which can be attributed to changing lifestyles that place a premium on efficiency and convenience when cooking.
• Technological prowess and innovative breakthroughs across the region are crucial, as firms in Europe are at the forefront of developing and implementing state-of-the-art features, including improved cooking speed, energy efficiency, and advanced functions.
• A supportive regulatory environment guarantees that product quality and safety standards are met, which in turn fosters market growth.
• Europe’s economy is strong and stable, which encourages consumers to spend more money on kitchen appliances, such as high-speed cooking equipment.
• The dominance of manufacturers in the region is set to be enhanced by their deep-rooted culinary culture and strategic marketing & distribution tactics, which are in line with the advantages of high-speed ovens.
• Research & development expenditures, in addition to international partnerships, are likely to help maintain Europe's leadership in the commercial high-speed oven industry.

High-speed Baking Oven Market Forecast Predicts High Demand for Built-in Ovens

• Built-in ovens are expected to dominate the global commercial high-speed oven market with a value share of about 76.0% in 2024. They are projected to witness a CAGR of 6.3% during the forecast period.
• There is an increasing preference for integrated kitchen solutions and seamless design aesthetics, where built-in ovens seamlessly blend with the overall kitchen layout.
• The high demand is further fueled by evolving consumer lifestyles that prioritize modern, space-efficient kitchen designs.
• The convenience and space-saving advantages offered by built-in high-velocity ovens contribute to their surging popularity.
• The anticipated CAGR during the forecast period underscores the rising consumer demand for these appliances.
• As consumers seek efficient and compact kitchen solutions, the built-in oven segment is well-positioned to meet these demands, pushing its growth in the commercial high-speed oven market.
• Advancements in technology have enhanced their efficiency, convenience, and cooking performance, thereby augmenting demand.
• Shifting consumer preferences for premium kitchen appliances and rising disposable income are likely to contribute to the surging demand for built-in ovens.
• High versatility and ability to provide consistent cooking results are anticipated to bolster their appeal, leading to their expected growth trajectory during the forecast period.

Nikhil Kaitwade

Principal Consultant

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2019 to 2023 Commercial High-speed Oven Market Outlook Vs. 2024 to 2034

Global sales of commercial high-speed ovens grew at a CAGR of 2.8% between 2019 and 2023. Total commercial high-speed oven market revenue reached about US$ 2,868.2 million in 2023. In the forecast period, the worldwide commercial high-speed oven industry is set to thrive at a CAGR of 6.7%.

• The commercial high-speed oven market experienced moderate growth from 2019 to 2023, primarily attributed to the increasing demand for these ovens in commercial settings.
• The growth is indicative of the rising preference for efficient and rapid cooking solutions in the food service industry.
• The expanding need for quick and versatile food preparations, coupled with advancements in high-speed oven technologies, contributed to the market growth.
• The trend reflects a broad shift in the culinary landscape, with restaurants prioritizing speed and efficiency in their kitchen operations, which fueled demand for high-speed convection ovens globally.
• The COVID-19 pandemic had a substantial impact on the demand for commercial ovens.
• As companies and industries recognized the significance of safe & hygienic practices, there was a notable increase in the need for commercial ovens for a range of tasks. It gradually became immensely popular for preparing continental cuisines.

Factors Propelling the Growth of Commercial High-speed Oven Market

• Increasing Number of Restaurants and Hotels

The expanding landscape of restaurants and hotels serves as a significant driver in the high-speed oven market. As the hospitality industry continues to witness an increasing number of dining establishments, the demand for efficient and rapid cooking solutions rises concurrently.

High-velocity ovens play a crucial role in meeting the culinary demands of these establishments, offering quick and effective food preparation without compromising quality. The surging restaurant and hotel numbers not only signify a broad market for high-speed ovens but also highlight the need for kitchen equipment that can handle high-volume, time-sensitive orders.

The trend positions high-speed ovens as essential tools for the food service industry, catering to the growing demand for expedited and quality cooking processes in the dynamic & competitive hospitality sector.

Their versatility aligns with diverse menu offerings in restaurants and hotels, catering to the evolving preferences of consumers. This high demand reflects a broad industry trend where companies prioritize speed and efficiency, further driving the adoption of high-speed cooking technologies.

• Surging Quick Service Restaurants (QSRs) Over Full-service Restaurants (FSRs)

The escalating growth of quick-service restaurants (QSRs) in comparison to full-service restaurants (FSRs) stands out as a prominent driver fueling the high-speed oven market. QSRs, known for their rapid service and streamlined operations, are experiencing a notable surge in popularity among consumers seeking convenience and efficiency.

The fast-paced nature of QSRs necessitates advanced kitchen equipment capable of swift and reliable food preparation, making high-speed ovens an integral component in meeting these operational demands.

As the QSR segment outpaces the growth of traditional FSRs, the demand for high-speed ovens intensifies. These quick-cook ovens, designed for rapid and efficient cooking, align seamlessly with the objectives of QSRs to deliver prompt service without compromising on food quality.

The shifting consumer preferences toward on-the-go dining experiences further propels the demand for QSRs, consequently driving the market for high-speed ovens. In adapting to the evolving landscape of dining preferences, the high-speed oven market positions itself as a crucial player in supporting the operational needs of the burgeoning quick-service restaurant sector.

• Rising Demand for Quick and Efficient Cooking

The burgeoning demand for quick and efficient cooking stands as a pivotal driver propelling the growth of the commercial high-speed oven market. In today's fast-paced culinary landscape, commercial kitchens face heightened expectations for prompt and reliable food preparations.

This escalating demand is met by the unparalleled capabilities of high-speed ovens, which excel in delivering swift cooking processes without compromising the quality of the final product.

As the culinary industry evolves to cater to time-conscious consumers, the adoption of high-speed ovens becomes imperative for companies aiming to streamline their kitchen operations.

These ovens redefine the traditional cooking paradigm, offering an accelerated cooking experience that aligns with the rapid pace of modern lifestyles. The ability of high-speed ovens to significantly reduce cooking times empowers commercial kitchens to meet customer demands promptly, enhancing overall operational efficiency.

The driver is further accentuated by the consistent pursuit of excellence in customer service across the food service sector. Companies recognize that the key to satisfying the discerning palate of today's consumers lies in the agility of their kitchen operations.

High-speed ovens emerge as indispensable tools in achieving this goal, positioning themselves as a transformative force in the culinary landscape, where efficiency and quality converge to meet the dynamic demands of modern food.

Key Factors Restraining Commercial High-speed Oven Market Growth

Commercial High-speed Ovens Vs. Microwaves

• A significant restraint for the high-speed oven market lies in the pricing dynamics, where these innovative appliances can be considerably more expensive than traditional ovens or microwaves.
• The upfront investment required to acquire high-speed ovens can present a notable challenge, particularly for individuals or firms operating within constrained economic frameworks.
• The cost differential between high-speed ovens and their conventional counterparts may deter potential buyers from embracing this advanced cooking technology.
• While the benefits of rapid cooking and enhanced efficiency are evident, the financial commitment required for procurement becomes a limiting factor for those with budgetary constraints.
• Pricing disparity can lead to a slow adoption rate, especially in markets where cost considerations play a pivotal role in decision-making.
• For companies aiming to balance operational excellence with financial prudence, high initial costs associated with high-speed ovens could be a deterrent.
• Addressing this pricing challenge becomes crucial for manufacturers to broaden the market appeal and facilitate wider adoption, ensuring that the advantages of high-speed ovens are accessible across a spectrum of budgetary considerations.

Inability to Handle Large Items and Multiple Dishes Simultaneously

• The small size of high-speed commercial ovens, compared to their traditional counterparts, emerges as a significant restraint in the high-speed oven market.
• The limitation hinders their suitability for accommodating large items or preparing multiple dishes concurrently, presenting a challenge in versatile cooking scenarios.
• The prospect of cooking substantial items, exemplified by the traditional Christmas turkey with all the trimmings, might pose a fitting conundrum for these ovens.
• The constrained cooking volume potentially restricts their adoption in settings where the demand for high-capacity cooking is frequent, impacting their versatility and applicability.
• In a market where diverse cooking needs and occasions require adaptable solutions, the limited capacity of express cooking oven solutions becomes a crucial consideration for potential buyers.
• Manufacturers in the commercial high-speed oven market must address and innovate upon this capacity challenge to ensure these advanced cooking technologies align seamlessly with the dynamic demands of modern kitchens.

Country-wise Insights

The table below highlights key countries’ commercial high-speed oven market revenues. The United States, China, Germany, and the United Kingdom are expected to remain the top four consumers of commercial high-speed ovens, with expected valuations of US$ 956.5 million, US$ 367.8 million, US$ 357.5 million and US$ 348.5 million, respectively in 2034.

The table below shows the estimated growth rates of the top three countries in the commercial high-speed oven market. Japan, India, and the United Kingdom are set to record high CAGRs of 7.4%, 6.6%, and 6.6%, respectively, through 2034.

QSRs in the United Kingdom Demand High-speed Convection Ovens

Commercial high-speed oven sales in the United Kingdom are projected to soar at a CAGR of around 6.6% during the assessment period. The total valuation in the country is anticipated to reach US$ 348.5 million by 2034.

• There has been an increasing number of quick-service restaurant outlets in the United Kingdom.
• As per the report, consumer spending on eating at quick service restaurants increased by 5.6% between 2011 and 2021 to reach US$ 87 billion in 2021.
• The rapid expansion of quick service restaurants (QSRs) in the United Kingdom has catalyzed an increased demand for commercial high-speed ovens.
• The fast-paced lifestyle in the country has prompted a growing preference for quick and convenient dining options, aligning perfectly with the operational efficiency offered by high-speed ovens in QSR settings.
• High-speed baking ovens enable rapid cooking, ensuring prompt service and reduced waiting times for customers.
• The versatile capabilities of commercial high-speed ovens appeal to QSRs as they accommodate diverse menu items with quick turnaround, enhancing the operational efficiency of these establishments.
• The adoption of high-speed ovens in the United Kingdom’s expanding QSR landscape reflects a strategic response to consumer expectations for swift and quality dining experiences, contributing to accelerated growth in the commercial high-speed oven market.

Fast-paced Lifestyles in the United States Boost Quick-cook Oven Demand

The United States commercial high-speed oven market share is projected to remain considerable by 2034. The country will likely reach US$ 956.5 million by 2034. Over the assessment period, demand for commercial high-speed ovens in the United States is set to rise at 5.6% CAGR.

• The surging adoption of high-speed ovens in the United States can be attributed to their remarkable boost in productivity.
• Novel ovens address the demands of a fast-paced lifestyle by significantly reducing cooking times, making them a preferred choice for both households and commercial establishments.
• Companies, especially in the food industry, are embracing high-speed ovens for their operational efficiency, contributing to quick order fulfillment and heightened customer satisfaction.
• Energy efficiency features, coupled with precise temperature control, contribute to cost savings and consistent food quality.
• The evolving technological landscape and consumer preferences for convenience are set to propel the widespread acceptance of high-speed ovens as a pivotal solution in meeting the demands of modern living and dining in the United States.

The popularity of Ready-to-Eat Items in Germany Fuels Fast-cooking Ovens

Germany's commercial high-speed oven market is poised to exhibit a CAGR of 6.1% during the assessment period. It is expected to attain a market valuation of US$ 357.5 million by 2034.

• The escalating demand for ready-to-eat products in Germany has sparked a significant uptick in the utilization of commercial high-speed ovens.
• As consumer preferences pivot toward convenient and time-efficient food options, these ovens emerge as instrumental tools for companies.
• The rapid cooking capabilities of high-speed ovens align seamlessly with the fast-paced lifestyle in Germany, enabling establishments to meet the surging demand for on-the-go meals.
• In the realm of commercials, rapid cooking ovens serve as indispensable assets, facilitating quick and efficient food preparation to meet the burgeoning demand for ready-to-eat convenience in Germany.

Category-wise Insights

The section below shows the built-in ovens segment dominating based on product type. It is forecast to thrive at 6.3% CAGR between 2023 and 2034.

Based on end-use, the restaurant segment is anticipated to hold a dominant share in the commercial high-speed oven market through 2034. It is set to exhibit a CAGR of 5.7% during the forecast period.

Built-in Commercial Ovens to Remain Dominant Through 2034

• Over the forecast period, demand for built-in ovens is predicted to rise at a CAGR of 6.3% CAGR. By 2034, the target segment is estimated to reach US$ 4,242.0 million.
• The escalating demand for high-speed cooking equipment stems from an increasing preference for integrated kitchen solutions and modern design aesthetics.
• Built-in ovens seamlessly blend with overall kitchen layouts, catering to evolving consumer lifestyles that prioritize contemporary and space-efficient designs.
• The convenience and space-saving advantages they offer further fuel their popularity.
• Technological advancements enhancing efficiency, convenience, and cooking performance contribute to their surging demand.

Demand for High-velocity Ovens to Remain High among Restaurants

• The restaurant segment is projected to thrive at 5.7% CAGR during the forecast period. It is set to attain a valuation of US$ 2,168.4 million by 2034.
• Commercial high-speed oven demand is expected to continue to be strong, especially in the restaurant sector.
• Fast order fulfillment and short customer wait times are made possible by high-speed ovens, which drastically cut down on cooking periods.
• High-speed ovens are essential for preserving operational efficiency as the restaurant industry evolves to satisfy time-pressed patrons.
• Fast-paced restaurants need to be able to produce high-quality food quickly and reliably.

Competitive Landscape

The global commercial high-speed oven market is consolidated, with leading players accounting for about 40% to 45% of the share. Bosch Ltd, ACP Solutions (Ali Group), GE Appliances (Haier Company., The Miele Inc, Sub-Zero Wolf, UNOX S.p.A, Alto-Shaam Inc., Whirlpool Corp.(Jennair), Panasonic Corp., and TurboChef Technologies are the leading manufacturers and suppliers of commercial high-speed ovens listed in the report.

In order to meet end-user demand, leading commercial high-speed oven manufacturers are investing in ongoing research to produce new products and boost their manufacturing capacity. To increase their presence, they are also displaying a propensity to implement initiatives like collaborations, acquisitions, mergers, and facility expansions.

Recent Developments in Commercial High-speed Oven Market

• In January 2024, Electrolux Professional Group successfully concluded the acquisition of Tosei Corporation, marking a significant key development for the company's strategic expansion and strengthened market position.
• In September 2022, Merrychef transformed the high-speed oven sector with the launch of its groundbreaking conneX® 16. Following the success of the conneX® 12 earlier in the year, this latest innovation boasts a spacious 16” cavity within an 18” wide footprint, setting new standards for compact design and functionality.

Key Coverage in the Commercial High-speed Oven Market Report

• Insights into Adjacent Topics, including Electric High-speed Oven Market, High-speed Microwave Oven Market, and Commercial High-speed Hybrid Oven Market
• Global Build-in High-speed Oven Market Growth Outlook in Terms of Product Type
• Global Counter Top High-Speed Oven Market Analysis
• Review of What's New With Speed Ovens Containing Overviews of Pratica and Merrychef
• Details about USA High-Speed Oven Market and Europe High-Speed Oven Market
• Competitive Landscape Analysis Containing Information about High-Speed Vent Less Oven Manufacturers

Commercial High-speed Oven Industry Research Scope

Commercial High-speed Oven Market Segmentation

By Product Type:

• Built-in Ovens
  • 1000 to 2000 W
  • 2000 to 4500 W
  • 4500 to 6000 W
  • Above 6000 W
• Counter Top Ovens
  • 1000 to 2000 W
  • 2000 to 4500 W
  • 4500 to 6000 W
  • Above 6000 W

By Sales Channels:

• Online
• Offline
  • Authorized Dealers
  • Specialty Stores
  • Hypermarket/Supermarket

By End-use:

• Restaurants
  • Independent
  • Franchise
• K-12 Schools
• Universities
• Travel & Leisure
• Business & Industry
• Convenience Stores
• Commercial Kitchens
• Healthcare Facilities
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East Africa