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Oven Market Trends

Report ID: GMI9675
Published Date: May 2024
Report Format: PDF

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Oven Market Trends

The market is experiencing robust growth driven by rising consumer demand for smart kitchen appliances and energy-efficient solutions. Ongoing technological including touch controls, Wi-Fi connectivity, and app integration, catering to the modern homeowner's desire for convenience and connectivity. Additionally, paradigm shift toward multifunctional ovens that combine various cooking methods comprising of convection, steam and microwave functionalities within a single unit will fuel the product penetration.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Oven market size was USD 49.2 billion in 2023 and is expected to register 6.5% CAGR from 2024-2032 owing to the rise of urbanization and apartment living particularly in densely populated areas worldwide.

Oven industry from the electric oven segment and is expected to surpass USD 50 billion by 2032 due to the changing consumer preference toward processed food along with the rise in urbanization.

Asia Pacific oven industry and is expected to cross USD 30 billion by 2032 due to stringent health and safety regulations and food sanitation standards, requiring kitchens to invest in ovens that meet regulatory requirements in the region.

Electrolux, LEWCO, Inc., LG Electronics, Midea Group, Panasonic, Rehm Thermal Systems, Samsung, Sharp Corporation, Surface Combustion, Tamura Corporation, The Grieve Corporation, Thermcraft, Whirlpool Corporation, and Wisconsin Oven, are some of the major oven companies worldwide.