High Speed Oven Global Market Report 2024

A high-speed oven is a type of commercial cooking equipment that combines multiple food preparation methods to cook food much faster than traditional convection ovens or grills. These ovens are designed to provide a gourmet experience for customers by quickly and consistently cooking a variety of foods.

The main types of high-speed ovens include built-in and countertop models. Built-in high-speed ovens are installed into kitchen units or fixed to cupboard doors, with the option for integration into a base or tall cabinet of varying heights. These products are sold through various channels, including hypermarkets/supermarkets, specialty stores, and online platforms. The wattage variance in high-speed ovens covers a range from 1000 to 6000 Watts and above. The end-users of high-speed ovens include both residential and commercial customers.

The high-speed oven market research report is one of a series of new reports that provides high-speed oven market statistics, including high-speed oven industry global market size, regional shares, competitors with a high-speed oven market share, detailed high-speed oven market segments, market trends and opportunities, and any further data you may need to thrive in the high-speed oven industry. This high-speed oven market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The high speed oven market size has grown strongly in recent years. It will grow from $3.92 billion in 2023 to $4.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed during the historic period in the high-speed oven market can be attributed to several factors, including the demand for fast cooking times, increased emphasis on energy efficiency, a rise in menu diversification in food service establishments, demand for space-saving design in commercial kitchens, and the need for consistency in cooking processes. These factors collectively contributed to the increased adoption and demand for high-speed ovens across various sectors during the historical period.

The high speed oven market size is expected to see strong growth in the next few years. It will grow to $6.02 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the forecast period in the high-speed oven market can be attributed to various factors, including the increasing number of health-conscious consumers seeking faster and healthier food options, a rise in contactless dining solutions, the growth of ghost kitchens and food delivery services, an increasing demand for sustainability in foodservice operations, and the continued expansion of commercial bakeries. Major trends expected during this period include the popularity of compact and countertop models, advancements in user interfaces for enhanced usability, the adoption of ventless technology to facilitate versatile installation options, the integration of Internet of Things (IoT) connectivity for smart functionality, and the trend towards menu customization to cater to diverse consumer preferences. These trends reflect the evolving landscape of the high-speed oven market in response to changing consumer behaviors and industry demands.

The surge in visibility of hotels, restaurants, and cafes has emerged as a pivotal driver for the high-speed oven market. F&B venues within hotels are compelled to adapt and engage customers with concepts emphasizing both convenience and experience, given the evolving habits of food delivery consumption. According to HGEM, delivery apps like Deliveroo, JustEat, and GrubHub are extensively utilized by hotel guests, with a notable 71% preference among guests aged 26-35. The trend of ordering food into hotels is anticipated to rise by 83% in the coming years. Consequently, to optimize operational efficiency, food aggregators in the F&B industry face the challenge of reducing delivery and service time through technologically advanced equipment, such as high-speed ovens. The increased exposure of hotels, restaurants, and cafes is poised to drive the demand for high-speed ovens in the foreseeable future.

The growing residential sector is set to propel the high-speed oven market forward. This sector encompasses properties intended primarily for residential living and is witnessing an increasing adoption of high-speed ovens due to their advantages, including rapid and precise cooking, energy efficiency, versatility, and convenience. Notably, in October 2023, the US Census Bureau reported a 13.8% increase in the number of privately owned housing units approved for building permits in February, reaching 1,524,000 on a seasonally adjusted yearly basis. This data highlights the demand for high-speed ovens in the residential sector, where these appliances contribute to reduced pre-heating time and the preservation of natural flavors and nutrients in food.

The high-speed oven market is experiencing a boost due to the increasing number of hotels and restaurants globally. The rapid economic growth in emerging economies, coupled with governments' enhanced expenditure on promoting the tourism industry, has led to a surge in new hotel and restaurant establishments. This growth is driving the demand for high-speed ovens, as these establishments invest in advanced commercial cooking equipment to streamline cooking processes and enhance customer experience. Notably, a study by Condor Ferries Ltd. indicates that the hotel industry, comprising over 700,000 establishments worldwide, contributes significantly to the global economy, accounting for $3.41 trillion. The burgeoning number of hotels and restaurants is expected to fuel the demand for high-speed ovens in the foreseeable future.

The high-speed oven market is witnessing a significant trend towards technological advancements, with numerous companies actively developing innovative products to meet the increasing demands of end-customers and fortify their market presence. A notable example is Merrychef, a division of Welbilt, Inc., a US-based manufacturer of commercial foodservice equipment. In May 2022, Merrychef introduced Connex, a cutting-edge high-speed oven designed to cook food up to 80% faster than conventional methods. This innovation represents a leap forward in oven technology, with the Connex 12 and Connex 16 models being recognized as the fastest, quietest, and most connected ovens available.

Major players in the high-speed oven market are strategically concentrating on introducing innovative products, such as the speed-X oven, to drive revenue growth. Notably, Unox S.p.A., an Italy-based company specializing in high-speed ovens, unveiled the speed-X oven in April 2022. The speed-X oven stands out as the first of its kind, seamlessly integrating the functions of a speed oven and a combi oven with an added self-cleaning capability. This revolutionary technology combines the power of microwaves, the softness of steam, and the speed of air. The speed-X oven not only eliminates the need for compromises in cooking operations but also enhances both speed and quality. Whether utilized as a high-end speed oven employing steam, air, and microwaves for rapid food preparation or as a combi oven reducing cooking times by 20% compared to predecessors, the speed-X oven exemplifies the industry's commitment to advancing cooking technology.

Major companies operating in the high speed oven market include General Electric Company, Sharp Corporation, Electrolux Group, Siemens AG, Robert Bosch GmbH, Whirlpool Corporation, Alto-Shaam Inc., Merrychef Ltd., TurboChef Technologies Inc., ACP Solutions Inc., Panasonic Corporation, Miele Inc., Samsung Electronics Co. Ltd., LG Electronics Inc., Gorenje Group Inc., Blodgett Oven Company, Hatco Corporation, Lincoln Foodservice Products Inc., Middleby Corporation, Rational AG, Henny Penny Corporation, Ovention Inc., A.J. Antunes & Co., ACP Inc., Doyon Equipment Inc., Moffat Limited, Vollrath Company, Waring Commercial, Winston Industries LLC, Vulcan LLC

North America was the largest region in the high-speed oven market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high-speed oven market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the high-speed oven market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The high-speed oven market consists of sales of microwave-based, microwave energy with high-speed impinged air-based, and combines high-speed hot air and infrared heat-based high-speed ovens. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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