Overview of the Global Market for Industrial, Laboratory or Bakery Ovens

Market Size for Industrial, Laboratory or Bakery Ovens

The global market for industrial, laboratory or bakery ovens was estimated at $X in 2022, growing by 3.3% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.3% against 2019 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Industrial, Laboratory or Bakery Ovens

In value terms, industrial, laboratory or bakery oven production reduced modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.9% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 21% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports

In 2022, the amount of industrial, laboratory or bakery ovens exported worldwide dropped significantly to X units, waning by -33.7% against the previous year. Overall, total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports reached the peak of X units, and then contracted sharply in the following year.

In value terms, industrial, laboratory or bakery oven exports declined to $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. The global exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Italy represented the major exporting country with an export of about X units, which accounted for 39% of total exports. The UK (X units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Japan (7%), Germany (6.5%), Taiwan (Chinese) (5.3%) and South Korea (4.6%). Turkey (X units), the Czech Republic (X units), Spain (X units), Belgium (X units), the United States (X units), Lithuania (X units) and Austria (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial, laboratory or bakery oven exports from Italy stood at +5.9%. At the same time, Spain (+27.2%), Taiwan (Chinese) (+26.0%), Belgium (+15.2%), South Korea (+13.7%), the UK (+9.3%), Japan (+8.6%), Turkey (+6.6%) and Germany (+1.6%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.2% from 2012-2022. By contrast, Lithuania (-1.6%), the United States (-4.2%), the Czech Republic (-5.3%) and Austria (-12.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Italy, the UK, Taiwan (Chinese), Japan, South Korea, Spain and Belgium increased by +14, +5.5, +4.7, +3.5, +3.1, +2.5 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial, laboratory or bakery oven supplying countries worldwide were Germany ($X), Italy ($X) and Japan ($X), with a combined 44% share of global exports. The United States, South Korea, Taiwan (Chinese), Austria, the Czech Republic, the UK, Spain, Lithuania, Turkey and Belgium lagged somewhat behind, together accounting for a further 25%.

South Korea, with a CAGR of +11.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for industrial, laboratory or bakery ovens amounted to $X per unit, jumping by 44% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+12.5%), while the other global leaders experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports

Global industrial, laboratory or bakery oven imports amounted to X units in 2022, almost unchanged from 2021 figures. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.8% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, industrial, laboratory or bakery oven imports contracted notably to $X in 2022. Overall, imports, however, showed a slight reduction. The pace of growth was the most pronounced in 2021 when imports increased by 21%. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

The UK (X units), Russia (X units), Indonesia (X units), Egypt (X units), Spain (X units), Canada (X units), Belgium (X units) and South Korea (X units) represented roughly 62% of total imports in 2022. The United States (X units), the United Arab Emirates (X units), Italy (X units), France (X units) and Vietnam (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +36.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens worldwide, comprising 16% of global imports. The second position in the ranking was taken by the United States ($X), with a 7.6% share of global imports. It was followed by Russia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +33.0%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+1.9% per year) and Russia (-2.8% per year).

Import Prices by Country

In 2022, the average import price for industrial, laboratory or bakery ovens amounted to $X per unit, waning by -26.8% against the previous year. Overall, the import price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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