Quick Summary:
In a rapidly progressing global industry, the industrial furnaces market presents a wealth of opportunities for businesses across diverse domains. Industrial furnaces, encompassing a variety of components such as hearth, burner, and refractory chamber, play a crucial role in the large scale manufacturing and processing of metals, ceramics, and automotive parts. Their ability to perform varied operations like annealing, tempering, and carburizing, coupled with their fuel-efficiency and portability, make them an indispensable asset in key global industries.
Driven by an ever-increasing demand for iron, steel, and metals, alongside a significant rise in automobile sales and burgeoning construction activities, the market is poised for considerable growth. The incorporation of advanced technologies and the industrial internet of things (IoT) into furnace systems further enhance efficiency and automation, contributing positively to the market outlook. With the implementation of strategies aimed at energy conservation, productivity, and reduction of pollutant emissions, the industrial furnaces market continues to evolve and expand, promising substantial returns for prospective investors.
The global industrial furnaces market size reached US$ 12.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 17.0 Billion by 2027, exhibiting a CAGR of 5.54% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An industrial furnace is a heat-treating system that assists in melting or heating metals at a high temperature. It comprises a refractory chamber, hearth, burner, solid, liquid, or gaseous fuel or electricity, chimney, charging and discharging doors, and loading and unloading equipment. It is mainly utilized for annealing, tempering, or carburizing and pre-treating materials for forging purposes. Besides this, as it is fuel-efficient, compact, and portable, it is also employed in the manufacturing of iron, steel, non-ferrous metals, ceramic and calcination in cement across the globe.
An industrial furnace is a heat-treating system that assists in melting or heating metals at a high temperature. It comprises a refractory chamber, hearth, burner, solid, liquid, or gaseous fuel or electricity, chimney, charging and discharging doors, and loading and unloading equipment. It is mainly utilized for annealing, tempering, or carburizing and pre-treating materials for forging purposes. Besides this, as it is fuel-efficient, compact, and portable, it is also employed in the manufacturing of iron, steel, non-ferrous metals, ceramic and calcination in cement across the globe.
Industrial Furnaces Market Trends:
At present, there is a significant increase in the demand for iron, steel and metals worldwide. This represents one of the key factors impelling the market growth. Apart from this, industrial furnaces are widely utilized in the manufacturing and heat-treating of metallic automotive parts. As a result, the rising sales of automobiles across the globe on account of inflating income levels and increasing global population are supporting the market. Furthermore, there is a considerable rise in the adoption of state-of-the-art technologies and the industrial internet of things (IoT) for providing enhanced efficiency and automation. This, in confluence with the rising adoption of numerous strategies for furnace energy conservation, productivity, and reduction of pollutant emissions, is creating a favorable market outlook. These strategies include the utilization of natural gas, improved insulation and refractory materials. They also involve the usage of advanced burner designs, such as high velocity, regenerative and recuperative burners, along with new combustion technologies like air and fuel staging and flue gas recirculation techniques. The market is also driven by the expanding automotive and steel sector and the extensive investments in construction activities around the world.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global industrial furnaces market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on furnace type, arrangement and end use.Breakup by Furnace Type:
- Gas and Fuel Operated Industrial Furnace
- Electrically Operated Industrial Furnace
Breakup by Arrangement:
- Tube or Clamshell Type
- Box Type
- Bottom Loading and Car Bottom Furnace
- Top Loading Furnace
- Others
Breakup by End Use:
- Metals and Mining
- Transportation
- Oil and Gas
- Chemicals
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Andritz AG, Carbolite Gero Ltd. (Dutch Verder Group), Epcon Industrial Systems LP, Gasbarre Products Inc., International Thermal Systems, Ipsen International GmbH, LÖCHER Industrieofen- und Apparatebau GmbH, Nutec Bickley, Seco/Warwick SA, Thermal Product Solutions and Thermcraft Incorporated.Key Questions Answered in This Report:
- How has the global industrial furnaces market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global industrial furnaces market?
- What are the key regional markets?
- What is the breakup of the market based on the furnace type?
- What is the breakup of the market based on the arrangement?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global industrial furnaces market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Industrial Furnaces Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | October 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 12.3 Billion |
| Forecasted Market Value ( USD | $ 17 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Industrial Furnaces Market
6 Market Breakup by Furnace Type
7 Market Breakup by Arrangement
8 Market Breakup by End Use
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Andritz AG
- Carbolite Gero Ltd. (Dutch Verder Group)
- Epcon Industrial Systems LP
- Gasbarre Products Inc.
- International Thermal Systems
- Ipsen International GmbH
- LÖCHER Industrieofen- und Apparatebau GmbH
- Nutec Bickley
- Seco/Warwick SA
- Thermal Product Solutions
- Thermcraft Incorporated.
Methodology
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