LONDON--(BUSINESS WIRE)--Technvaio forecasts the commercial convection oven market in Europe to grow by USD 9.94 million during 2020-2024. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%.
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The commercial convection oven market in Europe is driven by the growth of the European foodservice industry. In addition, the increase in the number of QSRs is anticipated to boost the growth of the commercial convection oven market in Europe.
Rapid urbanization and rising disposable incomes of consumers are factors that have significantly contributed to the growth of the foodservice industry in Europe. In addition, factors such as the increasing number of dual-income families, rising number of working women, availability of affordable and convenient fast-food outlets, and rising advertising and promotional activities by large foodservice chains have increased the number of commercial foodservice establishments, including bakeries and pizzerias. Commercial convection ovens are widely used by foodservice establishments for baking croissants, bread, pizzas, pies, pastries, and others. With the rising number of foodservice establishments, the demand for commercial convection ovens will increase during the forecast period.
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Major Five Commercial Convection Oven in Europe Companies:
AB Electrolux
AB Electrolux operates its business through segments such as Europe, North America, Latin America, and Asia-Pacific, Middle East, and Africa. The company offers Convection Oven Electric Compact Digital Oven 6GN 1/1.
Ali Group Srl
Ali Group Srl operates its business through segments such as Cooking, Bakery, Meal Delivery, Preparation, and Storage Solutions, Refrigeration, Washing and Waste Management, Ice Cream and Beverage Dispense, Ice Makers, Coffee Machines, and Contract, Distribution & Service. The company offers a wide range of bakery equipment and products under brands such as Belshaw Adamatic, Bertrand Puma Bongard, Esmach, and others.
Alto-Shaam Inc.
Alto-Shaam Inc. operates its business through the Unified segment. The company offers ASC-2E CONVECTION OVEN, ASC-4E CONVECTION OVEN, and ASC-4G GAS CONVECTION OVEN.
Duke Manufacturing
Duke Manufacturing operates its business through the Unified segment. The company offers 613 Series, E Series, and 5/9 Series of convection ovens.
Illinois Tool Works Inc.
Illinois Tool Works Inc. operates its business through segments such as Automotive OEM, Food Equipment, Construction Products, Polymers & Fluids, Specialty Products, Test & Measurement and Electronics, and Welding. The company offers advanced ware wash (dishwashing), cooking, refrigeration, and food processing equipment and provides service for institutional, industrial, restaurant, and retail customers around the world.
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Commercial Convection Oven Market in Europe Product Outlook (Revenue, USD Million, 2020-2024)
- Electric - size and forecast 2019-2024
- Gas - size and forecast 2019-2024
Commercial Convection Oven Market in Europe Geography Outlook (Revenue, USD Million, 2020-2024)
- Germany - size and forecast 2019-2024
- UK - size and forecast 2019-2024
- France - size and forecast 2019-2024
- Rest of Europe - size and forecast 2019-2024
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