The report will cover the overall analysis and insights in relation to the size and growth rate of the ” Global Industrial Furnaces and Ovens Market ” by various segments at a global and regional level for the 2000-2027 period, with 2000-2019 as historical data, 2020 as a base year, 2021 as an estimated year and 2021-2027 as forecast period.
Global Industrial Furnaces and Ovens market – Introduction
- Industrial furnaces and ovens are an integral part of most manufacturing processes. Industrial furnaces are used to heat or melt metals for casting; and for forming and shaping metals through processes such as forging and rolling or other heat treatment processes. A key factor influencing growth in the global market is the extent of demand for iron and steel from various end-use sectors. In the upcoming years, improving economic environment, expanding industrial sector and introduction of new and efficient systems are expected to drive market growth. Advancements in production and processing technologies in the industrial sector are also expected to add to market growth.
- The growing concerns for environmental safety are driving demand for electric furnaces across the world, to replace coal-fired furnaces and ovens. Depleting natural resources of iron ore and increasing prices of iron ore also contribute to the rise in adoption of electric furnace steel production by steel makers.
- Industrial ovens and furnaces are primarily used in industries such as automotive and construction to heat-treat metals in order to produce steam.
- The global industrial ovens and furnaces market is expected to expand at a rapid pace during the forecast period, owing to increase in the demand for industrial ovens and furnaces in different industries such as construction and automotive
- The report provides a basic overview of the industry including definitions, classifications and industry chain structure.
- A brief overview of the commercial potential of products, technologies and applications.
- Description of properties and manufacturing processes.
- Discussion of the current state, setbacks, innovations, and the future needs of the market.
- Up-to-date analyses of market trends and technological improvements in the market
- Examination of the market by application and by product sizes; utility scale, medium scale and small scale.
- The report focuses on detailed profile of major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information.
- Coverage of historical overview, key industrial development and regulatory framework.
- To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market
- A look at the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
Reports Scope and Segments
- The scope of the report covers the clear understanding and overview of the product.
- Analysis of market trends in the region, with market data considering 2020 as the base year, 2021 as the estimate year and forecast for 2027 with projection of CAGR from 2021 to 2027.
- The report covers discussion of economic trends and technology.
- It also explains the major drivers and current trends within the particular sector.
- The key countries in all the major regions are mapped on the basis of their market share.
- Market estimates represent revenue.
- Discusses trends within the market and provides a future outlook.
- Reviews business activities of market leaders.
- This report provides a quantitative analysis of the current trends, estimations, and dynamics.
|Market size available for years||2014–2027|
|Base year considered||2020|
|Forecast units||Value (USD) & Volume (Million Units)|
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Indonesia, Malaysia, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Brazil, Argentina, Mexico, South Africa and 54 Others.
|By Product Type
Electric Industrial Ovens and Furnaces; Induction & Dielectric Industrial Ovens and Furnaces; Industrial Electric Heating Equipment and Fuel-fired Industrial Ovens and Furnaces.
Combustion Type and Electric Type.
Additive manufacturing; Brazing; Baking; Drying; Coating; Heat treatment and others.
|Companies covered||AFC-Holcroft; Aichelin Group; Airtec Thermoprocess GmbH; Andritz AG; AVS, Inc.; Can-Eng Furnaces International Limited; Carbolite Gero Ltd.; CERI Phoenix Industrial Furnace CO., LTD.; CM Furnaces, Inc.; Despatch Industries, Inc.; Dijko Ovens BV; Dowa Thermotech Co., Ltd.; ElectroHeat AB; Grieve Corporation; Inductotherm Corporation; Industrial Furnace Company; International Thermal Systems LLC; Ipsen; JLS Redditch, Ltd.; Keith Company; Kilns & Furnaces Ltd.; Nachi-Fujikoshi Corp.; Nitrex Metal Inc.; Nutec Bickley; Primetals Technologies Limited; Rogers Engineering & Manufacturing Co., Inc.; SECO/WARWICK S.A.; Shenwu Technology Group Corp Co., Ltd.; Solar Manufacturing; Solo Swiss Group; Surface Combustion, Inc.; Tenova S.P.A; Thermal Product Solutions; VAC AERO International, Inc.; Wisconsin Oven Corporation and Others.|
Segments Covered in Global Industrial Furnaces and Ovens market
- The global Industrial Furnaces and Ovens market is divided into different segments on the basis of Product Type, Power Type, Application and region. The industrial valves market segment on the basis of Product Type includes Electric Industrial Ovens and Furnaces, Induction & Dielectric Industrial Ovens and Furnaces, Industrial Electric Heating Equipment and Fuel-fired Industrial Ovens and Furnaces. On the basis of Power Type, the Industrial Furnaces and Ovens market segment comprises a Combustion Type and Electric Type. The global Industrial Furnaces and Ovens market segment by the Application involves Additive manufacturing, Brazing, Baking, Drying, Coating,Heat treatment and others.
- Increase in the adoption of machinery enabled with Industrial Internet of Things (IIoT) and equipped with temperature control sensors and POC analyzers and rise in investments in smart factories are anticipated to fuel the market for industrial ovens and furnaces in the next few years
- Rising demand for fabricated metals in the automobile industry is anticipated to propel the global industrial ovens and furnaces market during the forecast period.
COVID 19 Impacts on Industrial Furnaces and Ovens
COVID-19 is a new strain of coronavirus that has not been previously identified in humans . Coronaviruses (CoV) are a family of RNA (ribonucleic acid) viruses. COVID-19 started in Asia and is now spreading over the rest of the world via person-to-person contact and community spread. COVID-19 pandemic may have an potential impacts on Global Industrial Furnaces and Ovens Market.
Recent Developments in Global Industrial Furnaces and Ovens market
- Europe is expected to witness the maximum demand for industrial ovens and furnaces from 2019 to 2027. In terms of consumption, Europe is the leading region of the global industrial ovens and furnaces market. Additionally, Europe is a hub for the automotive industry, owing to presence of top automobile manufacturers with high production capacities such as BMW, Volvo, and Audi.
- Asia Pacific is anticipated to be the rapidly expanding market for industrial ovens and furnaces between 2019 and 2027. This is primarily due to rapid industrialization in the region. Also, a few notable steelmaking plants are planning to start their projects in China and India in the next few years. This, in turn, is anticipated to fuel the demand for industrial rovens and furnaces in these countries of Asia Pacific in the near future.
Key Market Players in Global Industrial Furnaces and Ovens market
- The major players in the Global Industrial Furnaces and Ovens market are AFC-Holcroft; Aichelin Group; Airtec Thermoprocess GmbH; Andritz AG; AVS, Inc.; Can-Eng Furnaces International Limited; Carbolite Gero Ltd.; CERI Phoenix Industrial Furnace CO., LTD.; CM Furnaces, Inc.; Despatch Industries, Inc.; Dijko Ovens BV; Dowa Thermotech Co., Ltd.; ElectroHeat AB; Grieve Corporation; Inductotherm Corporation; Industrial Furnace Company; International Thermal Systems LLC; Ipsen; JLS Redditch, Ltd.; Keith Company; Kilns & Furnaces Ltd.; Nachi-Fujikoshi Corp.; Nitrex Metal Inc.; Nutec Bickley; Primetals Technologies Limited; Rogers Engineering & Manufacturing Co., Inc.; SECO/WARWICK S.A.; Shenwu Technology Group Corp Co., Ltd.; Solar Manufacturing; Solo Swiss Group; Surface Combustion, Inc.; Tenova S.P.A; Thermal Product Solutions; VAC AERO International, Inc.; Wisconsin Oven Corporation and Others.
- Fuel-fired furnaces find applications in industries such as brick making, glass, ceramics and others, which use kilns for the generation of heat in their applications.
- Also, the Industrial Furnaces and Ovens market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
- Numerous local, regional, and international players operate in the global industrial ovens and furnaces market. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Manufacturers of industrial ovens and furnaces are adopting key strategies of new product development and acquisitions to cater to the needs of end-users.
Objectives of the Global Industrial Furnaces and Ovens market Study
- To provide detailed information regarding drivers, restraints, opportunities and challenges are influencing the growth in the Global Industrial Furnaces and Ovens market.
- To analyze the competitive intelligence of players based on company profiles and their key growth strategies.
- To strategically analyze micro markets with respect to the individual growth trends, their prospects, and their contribution to the total Global Industrial Furnaces and Ovens market.
- To analyze competitive developments such as expansions, and product launches, along with research & development (R&D) activities undertaken in the Global Industrial Furnaces and Ovens market.
- A unique model is created customized for each study also offers suggestions that help enterprises to identify and mitigate risks.
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