Growing preference for stacked conveyors ovens and improved product features for better production efficiency are boosting the growth of the conveyor ovens market. Currently, the growing demand for baked food items such as pizzas, cookies, and pasta, compels independent food chains and restaurants to increase their productivity by increasing the volume and reducing the food preparation time. To meet the growing demand, commercial conveyor oven manufacturers are introducing new ovens with technologically up graded features. Apart from this, many pizzerias are increasingly demanding compact and space- saving commercial kitchen equipment in order to get desired output within a limited space. Due to this, stacked conveyors are gaining significant popularity across the world. Furthermore, conveyor oven manufacturers are focusing on better working capacity by introducing new features and technologies such as increased volume production, menu differentiation, and reducing cooking time.
The conveyor ovens market is segmented by source of heat, by end user, and geography. On the basis of source of heat, the market is segregated into electric conveyor oven and gas conveyor ovens. Among these applications, electric conveyor oven segment accounted for significant market share in 2015 and is expected to maintain its market dominance in the coming years.
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One of the major driving factors responsible for the growth of this segment, is the increasing demand for electric conveyor ovens because they are easy to use and operators need not worry about lighting the gas or carbon monoxide leakage issues. The conveyor ovens market has also been segmented on the basis of end user into restaurants and hotels. The restaurants segment accounted for the maximum market share in 2015 and is expected to maintain its position over the forecast period from 2016 to 2024. One of the major factors responsible for the growth of this segmnet is the increasing demand for conveyor ovens in pizzerias.
Geographically, the conveyor ovens market is segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. North America dominated the global conveyor ovens market in 2015 in terms of revenue. The U.S. and Canada are anticipated to experience rapid growth, propelling the usage of conveyor ovens in these regions. In addition to this, developing regions continue to command a considerable share of the global conveyor ovens market that creates huge opportunities for market players. Moreover, Middle Eastern countries and Latin America will contribute to the growth of the market owing to the growing number of hotels and restaurants.
The global conveyor ovens market is extremely competitive with the presence of a large number of large-scale and small-scale vendors who compete with each other in terms of product differentiation, quality, price, innovation, distribution, and brand promotion. Key players operating in the market include Middle by Marshall, Lincoln, Moretti Forni, Ovention, and Star Manufacturing International among others. Other prominent vendors in the market include Bakers Pride, TurboChef, Doyon, OEM-ALI, PICARD OVENS, GGM Gastro International, and XLT. These players dominate the market with their vast geographic presence and large production facilities across different countries.
However, the global conveyor ovens market is also characterized by the presence of several emerging regional and small manufacturers who lead the market in countries such as the U.K. and China and invest huge amounts of capital in research and development activities and innovation centers in order to expand their production capabilities and meet the growing market demand.
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In addition, major players are expanding their market share through new product development, mergers & acquisitions, joint ventures, and expansion, while focusing on their plans to open new retail outlets to strengthen their distribution channels and increase their earnings. In order to meet the growing consumer demand, a variety of different products are launched in the market by various leading as well as emerging manufacturers.
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