Technavio, a tech-focused market research firm, has published a new report on the global wall oven market, which is expected to grow at a CAGR of close to 11% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global wall oven market into the following key regions: APAC, Europe, North America, and ROW.
Source: Technavio
Click here to request a free sample of this report
Top three contributors for the global wall ovens market are elaborated below:
Wall ovens market in North America: The growth of the market for wall ovens in North America is driven primarily by the recent boom in new residential construction and kitchen remodeling projects. Increased interest in culinary shows such as BBC’s television series MasterChef, especially among the millennial population, is encouraging viewers to explore new cooking methods, creating a demand for upgraded appliances like wall ovens.
According to Poonam Saini, a lead analyst at Technavio, specializing in research on home, kitchen, and large appliances, “In North America, vendors like Whirlpool, Electrolux, Haier (previously known as GE), LG, and Samsung are globally expanding their product portfolio with technologically advanced and innovative appliances. As a result, these players have a huge business opportunity to capitalize on the growing demand for wall ovens.”
Wall oven market in Europe:Major growth in the wall oven market in Europe is expected to come from Western European countries like the UK, Germany, and Finland. Unlike North America, the pricing and variety of the products vary significantly across Europe. The willingness to spend on such appliances, the level of awareness and penetration of vendors drive the pricing policy of such products across the region. Consistent extension of product lines for producing innovative and technologically advanced products is also expected to facilitate growth of the global wall oven market in Europe in the coming years.
Wall oven market in APAC: The wall oven market in APAC is projected to grow at a healthy rate during the forecast period, largely triggered by a surge in sales volume from countries such as China, India, South Korea, Australia, and New Zealand. Changing consumer preferences toward modular kitchens and evolving demographic factors wherein users are exploring western lifestyles are some of the key factors ameliorating growth of the market in the APAC region.
The leading vendors operating in the global wall oven market are:
- Bosch
- Electrolux
- GE Appliances
- LG
- Whirlpool
Other prominent vendors in the market include Blue Star, Dacor, Kenmore, Thermador, Miele, IFB, and Glen.
A more detailed analysis is available in the Technavio report titled, ‘Global Wall Oven Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Solar Water Heater Market 2017-2021
- Global Electric Hand Dryers Market 2017-2021
- Global Kegerators Market 2016-2020
To read more press releases – click here
