Global Residential Combination Steam Oven Market 2017-2021
About Residential Combination Steam Oven
Combination steam ovens are ovens that have the functionalities of both food steamers as well as convection ovens. Combination steam ovens are becoming popular day by day, and consumers are more aware of the benefits they provide, from cooking to baking and from warming to roasting. Steam helps in retaining and preserving all the vitamins and minerals in the food while maintaining the appropriate moisture level.
Technavio’s analysts forecast the global residential combination steam oven market to grow at a CAGR of 6.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential combination steam oven market for 2017-2021. To calculate the market size, the report considers the retail volume and value sales of the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Residential Combination Steam-Oven Market 2017-2021
Technavio recognizes the following companies as the key players in the global residential combination steam oven market: Electrolux, Samsung, Robert Bosch, Haier, and Metall Zug Group
Other Prominent Vendors in the market are: Bertazzoni, Foxconn Electronics, Miele, SMEG, SUB-ZERO WOLF, and Whirlpool.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing adoption of modular kitchens. The space crunch that most urban households have has limited their scope for adopting bulky appliances. When it comes to space, especially in the kitchen, improvisation is essential. Hence, the concept of modular kitchens with its appropriate design that solves space issues in the kitchen is catching up.”
According to the report, one of the major drivers for this market is Technology and product innovation leading to premiumization. The very first combination steam oven was invented by Burger Eisenwerke in the 1960's for commercial purposes; since then there has been a tremendous amount of innovation that has happened in this space, and combination steam ovens have made their way to most regular households. New technology, touch panels, smart connectivity as well as new and strong materials used for manufacturing these ovens have resulted in the premiumization of this product.
Further, the report states that one of the major factors hindering the growth of this market is Products priced higher compared to conventional cooking ovens. Combination steam ovens are priced higher than conventional ovens because of their built quality and the various features they provide. For example, consumers can easily get Samsung’s microwave for $300; however, if the consumer wants to buy a double door microwave combination steam oven by Samsung, the price is something around $3,000 depending on the features of the product.
Electrolux, Samsung, Robert Bosch, Haier, Metall Zug Group, Bertazzoni, Foxconn Electronics, Miele, SMEG, SUB-ZERO WOLF, and Whirlpool.