This market analysis covers market share and market forecast of revenues generated from the sales of wall ovens for the residential segment. Geographical segmentation and market share of APAC, Europe, North America, and ROW. A competitive analysis of key vendors, including Bosch, Electrolux, GE, LG, and Whirlpool.
Technavio has released a new market research report on the global wall oven market, which is expected to grow at a CAGR of around 5% between 2016 and 2020. Augmented living standards of end-users and increased interest in kitchen remodeling and renovations are the two major factors that foster growth in this market during the predicted period. North America leads the global market for wall ovens, accounting for 37% of the total market share. With an increase in the number of smart homes and connected devices in this region, urban consumers are opting for connectivity-enabled wall ovens, which in turn is leading to market growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Growing need for high-end, better capacity, and energy-efficient home appliances is propelling the demand for wall ovens. Also, consumers are opting for trendy kitchen designs which offer space-saving solutions and hence the demand for built-in appliances are gaining traction. Besides saving the counter space, wall ovens wall ovens also add aesthetic appeal to the kitchen. These look sleek and sophisticated with matching doors and handles, coupled with an improved user-interface,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research
The key vendors in the global wall oven market are Bosch, Electrolux, GE, LG, and Whirlpool. Competition among leading companies as well as other prominent ones is intense; however, due to the rising consumer expenditure on electric kitchen appliances, especially built-in home appliances, the market is expected to grow steadily during the forecast period. Therefore, the potential to thrive in this market is high provided the companies stays competitive on their offerings and price. Also, companies should launch more engaging marketing campaigns to increase awareness among customers.
A more detailed analysis is available in the Technavio report, Global Wall Oven Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
