According to the latest report by IMARC Group, titled, “Industrial Furnaces Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, The global industrial furnaces market price reached US$ 12.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2027, exhibiting a growth rate (CAGR) of 5.41% during 2022-2027.
An industrial furnace refers to a heat-treating system that helps in melting or heating metals at a high temperature. It consists of a refractory chamber, burner, hearth, chimney, loading and unloading equipment, charging and discharging doors, etc., running on solid, liquid, or gaseous fuel or electricity. Industrial furnaces are widely used for tempering, annealing, carburizing, and pre-treating materials for forging purposes. In addition to this, being compact, fuel-efficient, and portable, they find numerous applications in the manufacturing of iron, steel, ceramic, calcination in cement, etc.
Report Metric
Historical: 2016-2021
Base Year: 2020
Forecast Year: 2022-2027
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Industrial Furnaces Market Trends:
The increasing demand for iron, steel, non-ferrous metals, etc., is one of the key factors propelling the market for industrial furnaces. Besides this, the sales of automobiles are rising due to inflating consumer income levels and increasing global population. This is further escalating the demand for these furnaces for the production and heat-treatment of metallic automotive parts. Moreover, the rising adoption of state-of-the-art technologies and the incorporation of the Internet of things (IoT) are providing improved efficiency and automation. Along with this, the growing utilization of numerous strategies for furnace energy conservation, enhancing productivity, reducing pollutant emissions, etc., is also strengthening the global market. Furthermore, rising investments in construction activities are further expected to drive the industrial furnaces market over the forecasted period.
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Global Industrial Furnaces Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Andritz AG, Carbolite Gero Ltd. (Dutch Verder Group), Epcon Industrial Systems LP, Gasbarre Products Inc., International Thermal Systems, Ipsen International GmbH, LCHER Industrieofen- und Apparatebau GmbH, Nutec Bickley, Seco/Warwick SA, Thermal Product Solutions and Thermcraft Incorporated.
The report has segmented the market on the basis on usage type, shape and distribution channel.
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
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive LandscapeMexico, Others)
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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