With the presence of a multitude of dominant players in the global conveyor oven market, competition is likely to intensify in the upcoming years, states Transparency Market Research (TMR) in a new report. The key vendors operating in the global conveyor oven market include Middleby Corporation, Lewco Inc., PICARD OVENS INC., Davron Technologies Inc., Star Manufacturing, Wisconsin Oven Corporation, Zanolli, Stoddart International Thermal Systems, Mahan Oven & Engineering Co. Inc., Infratrol LLC, Doyon, Moretti Forni, OEM-ALI Spa, Ovention, Italfornia USA, Lincoln, and XLT Inc.
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Product development and introduction of novel products are the key growth strategies that key players in this market have adopted to help them emerge at the fore. Besides innovations, several companies in the market are striving to tap opportunities in regional and local markets to target the segment of small end users.
As per estimates of the TMR report, the global conveyor oven market will become worth US$123.2 mn by the end of 2025 at a CAGR of 3.7% during the forecast period from 2017 to 2025. Based on power source, electric conveyor oven held the leading more than 50% share in the overall market in 2016. Among the key type segments, industrial/heavy ovens stood as the leading segment of the conveyor oven market in 2016. Geography-wise, in 2016, North America stood as the most lucrative market mainly because of increasing demand for fast and convenient food.
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