The Induction Furnace Industry Forecast was valued at USD 0.91 billion in 2022 and is projected to reach USD 1.43 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 5.7% during the forecast period of 2023-2030.

This forecast indicates a significant growth trajectory for the induction furnace industry, highlighting its potential for expansion and market dominance in the coming years. With a steady CAGR, the industry is expected to witness substantial advancements and increased market demand, leading to a substantial rise in its overall value.

The induction furnace industry's positive growth outlook can be attributed to several factors, including technological advancements, rising industrialization, and the increasing demand for energy-efficient and cost-effective heating solutions. As industries continue to prioritize sustainability and operational efficiency, the adoption of induction furnaces is expected to surge, driving the market's growth.

Furthermore, the forecasted increase in market value signifies the industry's ability to adapt to evolving customer needs and preferences. Induction furnaces offer numerous advantages, such as precise temperature control, reduced energy consumption, and enhanced productivity, making them an attractive choice for various sectors, including metalworking, automotive, and aerospace.

To capitalize on the industry's growth potential, key market players are anticipated to invest in research and development activities, aiming to introduce innovative and technologically advanced induction furnace solutions. This strategic approach will not only enhance their market position but also contribute to the overall growth and competitiveness of the industry.

In conclusion, the induction furnace industry is poised for substantial growth, with a projected market value of USD 1.43 billion by 2030. The industry's steady CAGR of 5.7% over the forecast period indicates a promising future, driven by technological advancements, increasing industrialization, and the demand for energy-efficient heating solutions.

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KEY MARKET SEGMENTATION

By Types:

  • Coreless Induction Furnace
  • Channel Induction Furnace

By Applications:

  • Steel Industry
  • Copper Industry
  • Aluminium Industry
  • Zinc Industry

Key Players

Prominent contenders in the field include Electrotherm, Danieli Group, SMS Elotherm GmbH, Meltech Ltd, Tenova SpA, Doshi Technologies Pvt. Ltd, IHI Machinery and Furnace Co., Ltd, JP Steel Plantech Co., ECM Technologies, Agni Electrical Pvt. Ltd, Pees Induction Equipment’s Pvt. Ltd, Magnalenz, and several other noteworthy players.

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Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers          

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of Ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value chain analysis

6. Porter’s 5 forces model

7. PEST analysis

8. Global Induction Furnace Market Segmentation, By Types

8.1 Coreless Induction Furnace

8.2 Channel Induction Furnace

9. Global Induction Furnace Market Segmentation, By Applications

9.1 Steel Industry

9.2 Copper Industry

9.3 Aluminium Industry

9.4 Zinc Industry

10. Global Induction Furnace Market, by region/ country

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company profiles

11.1 Electrotherm

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 Swot Analysis

11.1.4 The SNS View

11.2 Danieli Group

11.3 SMS Elotherm GmbH

11.4 Meltech Ltd

11.5 Tenova SpA

11.6 Doshi Technologies Pvt. Ltd

11.7 IHI Machinery and Furnace Co., Ltd

11.8 JP Steel Plantech Co.

11.9 ECM Technologies

11.10 Agni Electrical Pvt. Ltd

11.11 Pees Induction Equipment’s Pvt. Ltd

11.12 Magnalenz

12. Competitive Landscape

12.1 Competitive Bench Marking

12.2 Market Share Analysis

12.3 Recent Developments

13. Conclusion

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