Wall Oven Market Set to Rise at a CAGR of 9.5%, Reaching US$ 12.3 Billion by 2033, States Fact.MR

Rockville, Sept. 07, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Wall Oven Market is anticipated to reach a value of US$ 12.3 billion by the end of 2033, increasing at a CAGR of 9.5% over the next ten years.

A wall oven represents a distinct cooking appliance designed to be mounted on the wall, allowing separate use from the cooktop. Installing wall ovens is a straightforward process, with many positioned at eye level, reducing the necessity to stoop or kneel while placing food inside. This convenience proves advantageous for chefs of various ages, especially during the preparation of sizable feasts or heated dishes.

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Key Segments of Wall Oven Industry Research Report

A majority of wall oven models are equipped with an electronic display and control interface, facilitating easy monitoring of settings and temperature. For regular cooks, a wall oven stands as an efficient electrical tool, offering uniform and thorough heating for dishes of all dimensions.

In several households, stoves served as the primary cooking apparatus for an extended period. However, the landscape is shifting due to the rising preference for expansive, opulent, professional-grade kitchens. This trend has led to a transformation in habits. Opting to acquire distinct ovens and cooktops is no longer just a feasible choice but is also gaining increasing popularity. Spacious, dual wall-mounted ovens offer enhanced cooking capacity and a more intuitive kitchen setup compared to the traditional integrated range unit. Wall ovens seamlessly complement any kitchen, irrespective of spatial limitations or layout intricacies.

Key Takeaways from Market Study

• The global market for wall ovens is valued at US$ 4.9 billion in 2023.
• Worldwide demand for wall ovens is predicted to rise at a CAGR of 9.5% through 2033.
• By the end of 2033, the global market is forecasted to reach US$ 12.3 billion.
• The market in China is set to expand at a CAGR of 12.5% from 2023 to 2033.
• The market in Germany is forecasted to expand at a CAGR of 7.3% over the decade.
• Sales of single wall ovens are forecasted to rise at a CAGR of 9% from 2023 to 2033.

“Surge in disposable income has resulted in substantial investments in kitchen remodeling and refurbishment. Presently, more consumers are gravitating towards elegant designs, encompassing adorned kitchens that are easy to maintain. This is expected to consequently steer consumer preference towards wall ovens,” says a Fact.MR analyst.

Key Companies Profiled

• Bosch
• GE Appliances
• Glen
• Whirlpool
• Blue Star
• LG
• Electrolux
• Kenmore
• Thermador
• Miele

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Recent Market Developments

The wall oven market showcases a distinctive pattern consisting of a blend of globally diversified and locally rooted vendors. As international players expand their influence within the market, regional counterparts face challenges in contending with them, particularly in aspects such as quality, technology, and pricing. In the quest to uphold their position, market vendors are dedicating efforts toward elevating their product portfolios via innovative offerings.

• In February of 2023, Tovala, a well-regarded firm recognized for its inventive smart oven for countertops, extended its range of cloud-connected smart ovens. This expansion took the form of the introduction of the Tovala Smart Oven Air Fryer. This novel device employs automated multi-mode cooking cycles to attain flawlessly cooked meals and is presented in a sophisticated stone-grey aesthetic.
• In March 2022, Samsung Electronics Co., Ltd. introduced a range of cooking appliances in the 4, 5, 6, and 7 series. This lineup included a diverse selection of ovens featuring steam, air, sous vide, and air frying functionalities, all aimed at promoting healthy eating and delivering nutritional cooking advantages. The new series is enriched with SmartThings Cooking, a feature that simplifies the grocery shopping process and generates personalized weekly meal plans accompanied by tailored recipes and straightforward instructions.

More Valuable Insights on Offer 

Fact.MR, in its new offering, presents an unbiased analysis of the global wall oven market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on product type (single wall, double wall, combined), feature (smart functionalities, energy efficiency, convention systems), and application (domestic, commercial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Checkout More Related Studies Published by Fact.MR Research:

High Speed Ovens Market: The global high speed ovens market is estimated at US$ 5.59 billion in 2023. Overall market value is expected to reach US$ 10.70 billion by 2033, expanding at a healthy CAGR of 6.7% from 2023 to 2033.

Combi Ovens Market: The global combi ovens market is valued at US$ 2.13 billion in 2023 and is forecasted to reach US$ 5.18 billion by the end of 2033, expanding at a CAGR of 9.3% over the next ten years.

Smart Oven Market: As per Fact.MR, the size of the global smart oven market is estimated at US$ 293.18 million in 2023 and is projected to expand at a high-value CAGR of 20.5% to reach US$ 1.89 billion by 2033.

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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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