Rational believes it has barely scratched the surface in terms of prospective customers despite its huge market share of the combi oven market.
The manufacturer estimates that it currently controls some 50% of the global market – the equivalent of one in every two combis sold – but it reckons the sales opportunity still available to it is enormous.
“Only around 30% of the over three million end-customers that we can address are already cooking with combi steamer technology,” it said in its latest annual report. “The remaining 70% are still relying on conventional cooking technologies.”
It regards its flagship SelfCookingCenter as a direct alternative for conventional cooking technology as well as a replacement for competing or older combi steamers on the market.
Rational branded the market potential for its Frima VarioCookingCenter is “even higher”.
“As the product has only been on the market for a few years, market penetration is still relatively low and the available customer potential is almost 100% of approximately three million target customers,” it stated. “This huge untapped market potential will allow us to grow as a result of further market penetration and rising demand for replacements.”
The launch of the compact VarioCookingCenter 112L and the SelfCookingCenter XS in 2016 were both designed to give the company access to new customer base and prevent distributors from having to go to other manufacturers for smaller-sized equipment.
Supermarkets, service stations, butchers’ shops and small restaurants are all now targeted by the firm as a result of the new products.
To manage its anticipated growth over the next few years, Rational is expanding the capacity at its plant in Landsberg, Germany.
It intends to build a new production and assembly hall, starting from this summer. More capacity is expected to be added from 2021 onwards.