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Conveyor Oven Market Surpass USD 159.6 million by 2031, Registering at a 4.4% CAGR – Exclusive Report by Transparency Market Research

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With technological advancements and the demand for new sensors, the market will continue to grow. As bakery product consumption increases, conveyor oven demand will also rise.

WILMINGTON, Del, Oct. 25, 2023 /PRNewswire/ — Transparency Market Research Inc. –  The conveyor oven market was valued at US$ 95.7 million in 2021. A 4.4% CAGR is expected from 2022 to 2031. The market is projected to reach US$ 159.6 million by 2031. Due to high competition in the market, players are trying to boost the efficiency of conveyor ovens. The ovens are updated with features that will decrease cooking time and boost production.

Independent pizza chains and restaurants must increase productivity to remain competitive since pizza, sandwiches, and other baked goods are in high demand. Reducing the amount of time required for preparation can simplify the whole process. Conveyor oven manufacturers use advanced technology based on air imperfection, such as temperature and airflow control, to speed up food preparation by controlling temperatures and airflow. Therefore, conveyor ovens are becoming increasingly popular among end users.

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Conveyor oven manufacturers are increasing their production of innovative models featuring multiple stacks, advanced sensors, and panels that can be easily removed. A growing investment in research and development activities for food service equipment and technological advancements are propelling the market. Various cooking methods can be handled with conveyor ovens, like toasting, baking, and broiling. Businesses could save money and space by reducing the need for multiple appliances and saving space.

The conveyor oven market is influenced by sustainability and environmental concerns. As part of their efforts to reduce the environmental impact of their ovens, manufacturers have been utilizing eco-friendly materials when designing them. The efficiency of conveyor ovens is being improved by incorporating better insulation materials and construction techniques.

Conveyor Oven Market Report Scope:

Report Coverage

Details 

Forecast Period 

2022-2031

Base Year 

2022

Size in 2021

US$ 95.7 Mn

Forecast (Value) in 2031

US$ 159.6 Mn

Growth Rate (CAGR)

4.4 %

No. of Pages 

160 Pages

Segments covered 

Type, Operation, Power Source, Technology, Application, End-use, Distribution Channel

Key Findings of Market Report

  • Temperature control systems are built into conveyor ovens to ensure a constant cooking temperature.
  • Conveyor ovens are compact and can be stacked to save floor space, making them ideal for commercial kitchens and food production facilities.
  • High throughput is one of the most common features of conveyor ovens. For food service establishments with large volumes of food, they are an ideal solution since they can process items rapidly.
  • Maintaining conveyor ovens regularly is crucial to their continued operation. Maintaining optimum performance requires regular cleaning and inspection of the conveyor belt, the heating elements, and the rest of the equipment.
  • Protecting operators from accidents and complying with safety regulations, conveyor ovens include safety interlocks, ventilation systems, and emergency stop buttons.

Market Trends for Conveyor Ovens

  • Introducing fast-food chains and novel products are key trends in the conveyor oven market. Conveyor ovens are likely to become more widespread among restaurants and food chains.
  • Production automation and technological advancements are expected to grow the conveyor oven market. Using conveyor ovens can reduce or eliminate defects and variances, making food products more consistent.
  • Manufacturers of conveyor ovens are incorporating smart features and digital controls. Operators can achieve optimal cooking results by precisely controlling temperature and time, monitoring, and diagnosing the system using these advancements.
  • Several businesses sought conveyor oven solutions tailored to their specific requirements. As more industries demand customized conveyor ovens, manufacturers have offered temperature zones, custom belt speeds, and sizes.
  • Conveyor oven manufacturers have been incorporating features that make cleaning and maintaining their products easier as food safety and hygiene have become increasingly important. These improvements include improved designs, materials, and removable parts that can be cleaned efficiently.

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Global Market for Conveyor Oven Regional Outlook

  • North America is expected to be a major market for conveyor ovens. Business food manufacturers are the leading users of conveyor ovens in the United States because of the increasing demand for convenience and speed in cooking.
  • The bakery industry in this region is experiencing a boom, which has increased the consumption of conveyor ovens. The popularity of conveyor ovens has been driven by a growing demand for processed food from busy consumers, expanded restaurant chains, and high production volumes.

Global Conveyor Oven Market Key Players

A conveyor oven manufacturer is committed to offering the latest technology to their customers. Several manufacturers control the majority of the market share in the global industry.

Key players rely heavily on research and development to increase their market share. For these companies to remain competitive, they develop several products and expand operations. Some prominent players manufacturing and supplying conveyor ovens are listed below:

  • Davron Technologies Inc.
  • Doyon & NU-YU
  • Infratrol LLC
  • Italforni
  • Welbilt
  • Mahan Oven & Engineering Co. Inc.
  • Middleby Corporation
  • OEM-ALI Sp
  • Picard Ovens Inc.
  • International Thermal Systems
  • Wisconsin Oven Corporation
  • XLT Ovens

Key Developments in the Global Conveyor Oven

  • In August 2023, Applebee’s launched a three-part development plan. Next year, a smarter, more efficient design will be unveiled, taking a closer look at store performance and converting second-generation spaces.
  • In August 2023, Welbilt switched Lincoln oven production from Canada to the United States. A new country will host Lincoln Foodservice conveyor oven production following changes introduced by Welbilt.

Global Conveyor Oven Market: Segmentation

Type

  • Vertical Conveyor Oven
  • Overhead Conveyor Oven
  • Belt Conveyor Oven
  • Chain-on-Edge Conveyor Oven
  • Tunnel Conveyor Oven
  • Others (Carousel Conveyor Oven, Hybrid Conveyor Oven, etc.)

Operation

  • Batch
  • Continuous

Power Source

  • Electric
  • Gas
  • Direct Gas
  • Indirect Gas

Technology

  • Convection
  • Radiation

Application

  • Baking
  • Drying
  • Curing
  • Aging
  • Annealing
  • Stress Relieving
  • Others (Bonding, Tempering, etc.)

End-use

  • Hotels & Restaurants
  • Food Processing Units
  • Others (Industrial/Heavy, Pharmaceutical Industry, etc.)

Distribution Channel

  • Online
  • Company Websites
  • E-commerce Sites
  • Offline
  • Direct Sales
  • Indirect Sales

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Place an Order Copy of Conveyor Oven Market Report at:  https://www.transparencymarketresearch.com/checkout.php?rep_id=18935&ltype=S 

Check out more studies published by Transparency Market Research:

Liquid Cooling Systems MarketThe global industry was valued at US$ 6.9 Bn in 2022; It is estimated to grow at a CAGR of 5.5% from 2023 to 2031 and reach US$ 10.9 Bn by the end of 2031

Sensor Based Sorting Machines for Mining Market – The global industry was valued at US$ 120.4 Mn in 2022; It is estimated to advance at a CAGR of 10.5% from 2023 to 2031 and reach US$ 288.1 Mn by the end of 2031

Mechanical Mine Clearance System Market – The global industry was valued at US$ 72.9 Mn in 2022; It is estimated to grow at a CAGR of 4.1% from 2023 to 2031 and reach US$ 104.7 Mn by the end of 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Blog: https://tmrblog.com   
Email: [email protected]

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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