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Commercial High-Speed Hybrid Ovens Market size is set to grow by USD 43.2 million from 2024-2028, Growing food service industry boost the market, Technavio

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NEW YORK, July 1, 2024 /PRNewswire/ — The global commercial high-speed hybrid ovens market size is estimated to grow by USD 43.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.37% during the forecast period. Growing food service industry is driving market growth, with a trend towards increased adoption of integrated smart kitchen technology. However, long product replacement cycle poses a challenge. Key market players include Ali Group S.r.l. A Socio Unico, Alto Shaam Inc., Atollspeed GmbH, Baker Perkins Ltd., Bertazzoni Spa, Carbolite Gero Ltd., Celco Inc., Chefs Toys, Electrolux Professional AB, Haier Smart Home Co. Ltd., Hatco Corp., J L Lennard Pty Ltd., Markdraft, Panasonic Holdings Corp., Pratica USA, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Trufrost Cooling Pvt. Ltd., WELBILT INC., and Whirlpool Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Commercial High-Speed Hybrid Ovens Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.37%

Market growth 2024-2028

USD 43.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.13

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, China, Germany, UK, and Canada

Key companies profiled

Ali Group S.r.l. A Socio Unico, Alto Shaam Inc., Atollspeed GmbH, Baker Perkins Ltd., Bertazzoni Spa, Carbolite Gero Ltd., Celco Inc., Chefs Toys, Electrolux Professional AB, Haier Smart Home Co. Ltd., Hatco Corp., J L Lennard Pty Ltd., Markdraft, Panasonic Holdings Corp., Pratica USA, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Trufrost Cooling Pvt. Ltd., WELBILT INC., and Whirlpool Corp.

Market Driver

The commercial high-speed hybrid ovens market is experiencing growth due to the integration of advanced technologies. Bosch’s Home Connect technology enables remote preheating, recipe discovery, and temperature monitoring. Smart features include hassle-free maintenance, alert systems, enhanced safety, and remote control. These ovens offer user-friendly interfaces, advanced functions, and aesthetic designs, driving market growth during the forecast period. 

The Commercial High-Speed Hybrid Ovens market is experiencing significant growth due to the increasing demand for efficient and versatile cooking solutions. These ovens combine conventional and microwave technologies, providing faster cooking times and more even heating. The use of advanced features like temperature control, convection technology, and energy efficiency is driving trends in this market. Additionally, the ability to cook multiple dishes at once and the convenience of easy-to-use interfaces are key factors contributing to the popularity of high-speed hybrid ovens. Overall, the market is expected to continue growing as businesses seek to improve their foodservice operations and enhance customer experiences. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

Commercial high-speed hybrid ovens in the market, from leading brands like Haier Group, Panasonic Corporation, and Whirlpool Corporation, are known for their durability. Made of stainless steel or robust metals, these appliances have extended replacement cycles. However, their constant contact with water during cleaning increases the risk of rusting. To address this, vendors use stainless steel or high-grade plastic materials and invest in research and development for longer operational life. Long product lifespan reduces frequent purchases, while adherence to regulations and low maintenance further contribute. This long replacement cycle is a challenge, but it’s expected to fuel the growth of the global commercial high-speed hybrid ovens market.The Commercial High-Speed Hybrid Ovens market faces several challenges. These ovens require advanced technology for combining convection and infrared heating. The integration of these technologies presents complex design issues. Additionally, the cost of these ovens can be high due to the use of advanced components. Energy efficiency is another challenge, as these ovens consume significant power. Furthermore, the market is competitive, with many players offering similar products. Regulations regarding food safety and energy efficiency also pose challenges for manufacturers. Lastly, keeping up with consumer demands for faster cooking times and even heating requires continuous innovation.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This commercial high-speed hybrid ovens market report extensively covers market segmentation by  

Product 1.1 Touchscreen1.2 DigitalDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Touchscreen- The touchscreen commercial high-speed hybrid ovens market is growing due to their user-friendly interface and ability to store numerous custom programs. Companies like Welbilt and Middleby offer ovens with over 500 programs. However, challenges such as touchscreen damage, high servicing costs, and unresponsive screens can impact operational efficiency and increase costs. Despite the higher price of around USD12,500 compared to digital ovens at USD11,500, the touchscreen interface remains popular among end-users.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Facilities Management Market is experiencing robust growth, driven by increased urbanization and a focus on operational efficiency. This market encompasses a range of services, from maintenance to energy management, ensuring optimal functionality of facilities. Concurrently, the global Industrial HVAC Market is expanding, fueled by advancements in technology and the rising demand for energy-efficient solutions. Both markets are integral to enhancing the productivity and sustainability of industrial operations. As a Senior Research Analyst with over seven years of experience in market research, I specialize in analyzing these dynamic sectors, providing strategic insights and data-driven recommendations.

Research Analysis

The Commercial High-Speed Hybrid Ovens market caters to the culinary industry, including restaurants, cafes, and institutional kitchens. These ovens combine the functionality of conventional ovens and microwaves, offering versatility in cooking applications. Advanced technologies, such as smart controls and energy-efficient technology, ensure optimal temperature and moisture levels, enhancing cooking efficiency. Refrigeration units, commercial freezers, and refrigeration units are often integrated into these systems for added convenience. Sustainability is a key consideration in the food sector, making eco-friendly materials and energy savings essential features. Specialty models cater to specific needs, such as food dehydration and pizza alternatives. The market continues to evolve, with a focus on smart kitchens and advanced technologies to meet the demands of chefs and restaurant owners.

Market Research Overview

The Commercial High-Speed Hybrid Ovens market encompasses innovative baking solutions that combine conventional and modern technologies. These ovens offer faster cooking times, energy efficiency, and versatility in handling various food types. The market is driven by the growing demand for quick service restaurants, increasing consumer preference for ready-to-eat meals, and the need for large-scale food production in institutions. The hybrid ovens’ ability to cook multiple dishes simultaneously and their energy-saving features make them a popular choice for commercial kitchens. Additionally, the ongoing trend towards automation and the integration of IoT technologies in commercial kitchen equipment further boosts the market’s growth. The market is expected to witness significant growth in the coming years due to these factors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductTouchscreenDigitalDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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XTransfer and OCBC Jointly Announce Comprehensive Partnership

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“Global Multi-Currency Accounts” Empowers SMEs with New Market Opportunities

SHANGHAI, Dec. 23, 2024 /PRNewswire/ — XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, and OCBC, the second largest financial services group in Southeast Asia, jointly announced the comprehensive partnership. OCBC China will leverage the OCBC Group’s extensive regional network and resources in its key markets of Singapore, Hong Kong SAR, Malaysia and Indonesia to collaborate with XTransfer to provide small and medium-sized enterprises (SMEs) engaging in international trade with one-stop innovative cross-border financial solutions, including payment, FX, risk control and wealth management. The Memorandum of Understanding was signed on 18 December 2024 by Bill Deng, Founder and CEO of XTransfer, and Ang Eng Siong, CEO of OCBC China.

Bill Deng, Founder and CEO of XTransfer, stated, “This collaboration marks a significant milestone for XTransfer, greatly enhancing our global payment capabilities. By leveraging OCBC’s extensive global payment network, XTransfer saves a substantial amount of market costs and accelerates our business expansion in Southeast Asia, saving on local expansion efforts. XTransfer looks forward to expanding its business with OCBC in the future in a variety of areas, including wealth management and lending, and is looking forward to working with them to capture the vast opportunities in Greater China and ASEAN.”

Ang Eng Siong, CEO of OCBC China, said, “OCBC uses Singapore and Hong Kong as our twin-hubs, radiating out to Greater China and ASEAN regions. XTransfer’s business development plans in these areas align closely with our network layout. As XTransfer’s global account manager, OCBC China will support XTransfer and its clients in facilitating cross-border settlements through close collaboration with various business subsidiaries of the group. This will help meet the growing demand for cross-border development and business growth, helping them achieve their aspirations in Greater China and ASEAN.”

XTransfer and OCBC collaborate in several areas of cross-border business. In particular, XTransfer leverages the strong banking networks and service capabilities of OCBC to offer its customers the “Global Multi-Currency Account” provided by OCBC Hong Kong, allowing clients to make payments and collect funds globally. The Global Multi-Currency Account supports not only major currencies, such as the Renminbi, US Dollar, British Pound, Euro, etc., but also currencies from ASEAN and various countries and regions. This will benefit SMEs in foreign trade settlement in the corresponding countries and enhance global cross-border trade efficiency. The partnership will provide XTransfer’s over 550,000 clients and their buyers with more payment and collection options. Additionally, clients can make payments and collect funds through CHATS or FPS, the local clearing network in Hong Kong, offering convenience similar to local bank transfers.

In recent years, trade exchanges between China and ASEAN have become increasingly close. According to data from XTransfer, from January to September 2024, the amount received by small and medium-sized foreign trade enterprises on the XTransfer platform from ASEAN grew by 80% compared to the previous year. The partnership between XTransfer and OCBC will address this growth in international trade by SMEs, and help them capture opportunities in trade and capital flow between China and ASEAN.

XTransfer continues to build its global payment infrastructure for foreign trade through partnerships with renowned international banks and financial institutions. This partnership with OCBC brings XTransfer a new upgrade in its global payment infrastructure, offering substantial benefits to global cross-border traders. By utilising the Global Multi-Currency Account provided by OCBC Hong Kong, buyers can easily make payments in various currencies to overseas suppliers and collect funds from worldwide customers. This partnership is expected to enhance cross-border trade by significantly broadening the payment methods and scope for SMEs.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/xtransfer-and-ocbc-jointly-announce-comprehensive-partnership-302338240.html

SOURCE XTransfer

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TECHTRONIC INDUSTRIES JOINS THE UN GLOBAL COMPACT

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DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES

FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website. 

TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”

As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.

Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

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SOURCE Techtronic Industries Co. Ltd.

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New 2025 ezPaycheck Paycheck Payroll Software Is Now Available from Halfpricesoft.com

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REDMOND, Wash., Dec. 23, 2024 /PRNewswire/ — Halfpricesoft.com has just announced the release of 2025 ezPaycheck payroll software for support for small businesses, freelancers, and sole proprietors as well as many other clients. The new ezPaycheck includes 940, 941, W2 and W3 forms and 2025 tax tables.

 

Clients can still acquire the 2024-2025 bundle version at a cost reduction for a limited time. For those utilizing the 2024 ezPaycheck please note:

Do NOT install this new version before you complete 2024 paychecks. ezPaycheck 2025 installation will update the tax tables. With ezPaycheck 2025, you can still access your 2024 paychecks, view reports and print 2024 W2 forms.

Dr. Ge stated, “The software, ezPaycheck 2024 and 2025 is still available for purchase to those clients that need to process year-end tax forms.”

Priced at just $169 per installation for a single installation of 2025 ezPaycheck software. The bundle 2024-2025 version is $199 for a limited time. ezPaycheck payroll software is affordable for any business. With paycheck software, business owners can easily calculate taxes, deductions, and other payroll-related tasks. Potential clients are welcome to download ezPaycheck free demo version with no obligation and no risk at halfpricesoft.com

Despite its cost and ease of use, Accountants, CPA and Tax Professionals should not assume ezPaycheck 2024 runs short on features. ezPaycheck 2025 is packed with all the features a business needs to run payroll quickly and easily, including:

Supports daily, weekly, biweekly, semimonthly and monthly payroll periods. Features report functions, print functions, and pay stub functions.Automatically calculates Federal Withholding Tax, Social Security, Medicare Tax and Employer Unemployment Taxes.Includes built-in tax tables for all 50 states and the District of ColumbiaEasily calculates differential payPrints miscellaneous checks as well as payroll calculation checksPrints payroll checks on blank computer checks or preprinted checksCreates and maintains payroll for multiple companies, and does it simultaneouslyPrints Tax Forms NEW 943 Form, 940, 941, W2, and W3 (Copy A preprinted form required)Supports multiple accounts at no additional chargeSupports network access to share data from different computers and locations (additional cost)30 day no cost trial. No registration required and absolutely no obligation

ezPaycheck is compatible with Windows 11, 10, 8, 7, and other Windows systems. We also sell a MAC version separately.

ezPaycheck payroll software is affordable for any size business. Customers seeking a way to simplify payroll processing with more accuracy to start the no-obligation 30-day test at https://www.halfpricesoft.com/index.asp

About halfpricesoft.com

Halfpricesoft.com is a leading provider of small business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software, accounting software, 1095 form software, and ezACH direct deposit software. Software from halfpricesoft.com is trusted by thousands of customers and will help US Business owners simplify payroll processing and streamline business management.

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SOURCE Halfpricesoft.com

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