As per estimates of the TMR report, the global conveyor oven market will become worth US$ 135.4 Mn by the end of 2027 at a CAGR of 3.7% during the forecast period from 2019 to 2027. In 2018, the market size was valued US$ 97.6 Mn. Based on power source, electric conveyor oven held the leading more than 50% share in the overall market in 2018. Among the key type segments, industrial/heavy ovens stood as the leading segment of the conveyor oven market in 2018. Geography-wise, in 2018, North America stood as the most lucrative market mainly because of increasing demand for fast and convenient food.
Over the past few years, the changing work practices of the food industry is also acting in favor of the growth of conveyor oven market. Food companies are seeking modern food preparation practices, wherein they are looking for quality and efficiency in a cost effective manner. In particular, stacked conveyor ovens are witnessing an increasing demand as they have the feature to cook a substantial amount of food at one time. This is also acting in favor of conveyors oven market.
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Energy Conservation Trend Will Boost The Market Growth
Manufactures of conveyor ovens are focusing on conserving energy. Various food service establishments such as pizzerias are facing strong competition over values and most of them are aiming at minimizing their operating costs. Consequently, several conveyor oven manufacturers are also focusing on providing technologies, which save money and conserve energy of the pizzerias. For instance, conveyor oven manufacturers such as Middleby Corporation, Lincoln, and OEM-ALI Spa are adopting energy-saving technologies. For instance, Middleby Corporation’s WOW model of conveyor ovens contains an automated ‘energy eye’ technology that decreases the consumption of energy when food is not inside the oven cavity.
Similarly, OEM-ALI Spa also provides a conveyor oven, which has standby controls allowing the equipment to economize the consumption of energy. These innovations in energy consumption benefit by saving about 30% of energy. Companies have an original System known as Energy Management system – EMS. Middleby Corporation ovens offer highly effective heat transfer to the product. Consumption of energy is carried out as air is recycled from radiator to product, where energy loss is reduced. However, when touched, the oven is cool. This kind of technology is expected to fuel the growth of the market
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Rising demand for baked products in different countries
Several countries across the globe are witnessing a significant demand for baked products. Numerous pizzerias are witnessing an increasing demand to lowering their cooking time. Conveyor ovens require less time to cook large amounts of food; thus, helping restaurant owners to develop operational efficiency. Thereby improving the consumer experience. This, in turn, is prompting more pizzerias to invest in conveyor ovens.
Global market is fragmented in nature with stiff competition with global and domestic competitors. Product development and introduction of novel products are the key growth strategies that key players in this market have adopted to help them emerge at the fore. Besides innovations, several companies in the market are striving to tap opportunities in regional and local markets to target the segment of small end users. The key vendors operating in the global conveyor oven market include 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.
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