Wall ovens provide an excellent fitting in any kitchen irrespective of the space restrictions or arrangement. Improved living standards of consumers and end-users are one of the major factors driving the wall oven market. Augmented interest in kitchen renovations and remodeling are the two foremost factors that are expected to nurture growth of this market over the forecast period. Modifications in kitchen designs and developments are important drivers for the growth of the wall oven market. With the rise in disposable income, consumers are spending heavily on remodeling and renovation of their kitchens. Currently, consumers prefer sophisticated designs that include decorated kitchens which are easy to maintain. As a result, consumer preference is inclined toward streamlined appliances which are expected to enhance the demand for wall ovens over the forecast period. High installation and maintenance charges are key restraints which restricts the wall oven market from expansion. Increasing number of wall oven applications in the food processing industry and restaurants is creating opportunity for expansion. With the increasing number of smart homes and connected devices, the urban population is opting for connectivity equipped wall ovens which is driving the market in a regions such as North America and Europe. Rising consumer expenditure on electric kitchen appliances mainly for built in home appliances is increasing the demand for wall ovens. Growth of modular kitchens is expected to boost the demand for wall ovens over the estimated time period.
The wall ovens market can be segmented by types and by end-users. On the basis of type, the market is segregated by single oven, double oven, single-compact oven, and double built under oven. Double built under oven is expected to be the dominant wall oven type over the forecast period owing to its space efficiency and utility. On the basis of end users, the global wall oven market is segmented by households and food industry. Households was a large segment in 2015 and it is expected to remain so over the forecast period. The increasing trend of modular kitchens coupled with consumer preferences for sophisticated designed kitchens is driving the wall oven market for the household sector. The increasing number of applications in the food industry is also enhancing the growth of the wall oven market.
Geographically, the wall oven market has been segmented by Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. North America had the majority market share in the wall oven market in 2015 and it is expected to remain so over the forecast period. Owing to the recent boom in kitchen remodeling projects and new residential construction, the wall ovens market is expanding at a decent pace. The U.S accounts for the majority market share in this region. Europe has a significant market share in the wall ovens market owing to the increasing number of smart homes and connected devices in this region. Asia Pacific is one of the fast growing regions for the wall oven market. Adoption of western lifestyles and changing consumer preferences for modular kitchens is expected to drive the wall ovens market in this region. Augmented demand for kitchen renovations and remodeling is enhancing the demand for wall oven market in this region. India accounts for one of the large segments in the wall oven market in Asia-Pacific. Middle East and Africa account for a considerable market share with the rising trend of smart homes, while Latin America is an emerging region for the wall ovens market.
The key players in the wall oven market are Bosch, LG, Electrolux, GE, and Whirlpool. Other prominent vendors in the wall oven market are Fisher and Paykel Appliances, Dacor, BlueStar, Kenmore, and Thermador among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.