Multi Ovens Market Research Report Analysis
The global Multi Ovens Market Research Report size to reach approximately USD 30 billion registering a 4.5% CAGR from 2022 to 2030 (forecast period).
Multi ovens have several heating elements behind the oven walls, including one on top, one on the bottom, and one coiled around an electric fan, as well as a grill element inside the cavity, which can be used in combination or separately to provide optimal efficiency depending on what you are cooking. The restaurant industry has flourished in recent years against the backdrop of a growing 'Dine Out' trend. The restaurant industry is being transformed by a modern trend known as 'Eating In.' The trend has resulted in a significant shift in consumer preference towards eating at home rather than dining out. As a result, more restaurant and hotel outlets are opening, thereby boosting the demand for multi ovens in recent years.
Microwave ovens have become a vital part of kitchen appliances. Microwave ovens function on thermal energy by heating the polar molecules in food, a process also known as dialectic heating. Microwave radiations emitted from microwave ovens have a shorter wavelength but possess a huge amount of energy, allowing for faster cooking. Microwave ovens can also be used for roasting, baking, and grilling, depending on their power output. Microwave ovens come with a range of features, such as touch display panels, a heating chamber, vents, and a glass turntable.
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COVID-19 Impact on the Global Multi Ovens Market Research Report
Implementation of a set of regulations by governments of different nations to deal with the COVID-19 crisis, such as a full shutdown of manufacturing units, is found to have an impact on the growth of the global Multi Ovens Market Research Report.
Market Segmentation
The global multi ovens industry has been segmented based on product, end-user, and power source.
Based on product, the global Multi Ovens Market Research Report has been divided into steam generated and boilerless. The steam generated product segment is expected to hold a significant share of the market during the forecast period. However, the boilerless segment is anticipated to grow at a significant rate in the global Multi Ovens Market Research Report.
By end-user, the global Multi Ovens Market Research Report has been segmented into hotels & restaurants, bakery stores, retail outlets, domestic & institutional, and commercial kitchens. The hotels & restaurants end-user segment is projected to grow at a significant rate during the assessment period due to increasing expenditure on food outside the home and rising consumer preference for a variety of cuisine food products.
Based on the power source, the global Multi Ovens Market Research Report has been divided into gas and electric. The electric power source segment is predicted to hold a significant share within the global Multi Ovens Market Research Report.
Regional Analysis
Based on region, the global Multi Ovens Market Research Report is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific holds a significant Multi Ovens Market Research Report share due to the low production cost and availability of cheap labor in countries like China and India.
Key Players
Key industry players in the multi ovens industry include GE, Whirlpool Corporation, Frigidaire, Kenmore, KitchenAid, Bosch, Siemens, SAMSUNG, Media, Haier, and Panasonic.
Industry News
February 2021- Bosch upgraded its wall oven. The new wall ovens include convenience and style. The wall ovens from Bosch aim to take multi-function to new heights, blowing functions such as fast remote preheating, dough proofing, and air frying on one's smart device through a feature known as Remote Start. It is compatible with other smart devices from Bosch and more.
Summary
The global multi ovens industry is projected to reach approximately USD 30 billion, registering a 4.5% CAGR from 2020 to 2025 (forecast period). The global multi ovens industry is predicted to develop rapidly during the forecast period, owing to rising demand in hotels and restaurants. This is likely to spur the demand for multi ovens during the forecast period.
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