About Industrial Furnace
An industrial furnace is equipment used in industries such as automotive and construction to heat metals in order to produce steam. It is used for melting or heating of metals and changes the shape of the metal through rolling and forging and transform properties of the metal for casting. It has many functions such as brazing, annealing, hardening, carburizing, tempering of ferrous and non-ferrous castings and sintering.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Industrial Furnace market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Industrial Furnace Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Furnace market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ElectroHeat (Sweden), Andritz AG (Austria), Tenova S.p.A. (Italy), Despatch Industries, Inc. (United States), Primetals Technologies Limited (United Kingdom), AFC-Holcroft (United States), Airtec Thermo Process GmbH (Germany), AVS, Inc. (United States), Can-Eng Furnaces International Ltd (Canada) and Carbolite Gero Ltd (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are ElectroHeat AB (Sweden), Inductotherm Corp. (United States), Tiangel International Limited (China), Societe Thermidor (France) and Hefei Shihua Pipe Fitting Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Furnace market by Type (Ashing Furnaces, Tempering Furnaces, Annealing Furnaces, Rotary Tube Furnaces, Sintering Furnaces and Others), Application (Metallurgical Industries, Ceramic and Glass Industries, Oil and Gas Industries and Others) and Region.
On the basis of geography, the market of Industrial Furnace has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Automation Grade, the sub-segment i.e. Fully Automatic will boost the Industrial Furnace market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Heat Source, the sub-segment i.e. Electric (Induction, Electric Arc, Electron Beam) will boost the Industrial Furnace market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Melting Material, the sub-segment i.e. Iron will boost the Industrial Furnace market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Natural Gas Combustion Heat Source in Industrial Furnaces to Reduce Pollutants
Market Growth Drivers:
Growing Demand for Fabricated Metals in Automobile Industry and Demand for Industrial Furnaces in Steel and Metal Processing Industries
Challenges:
High Initial and Maintenance Costs
Restraints:
Stringent Government Regulations for Environmental Pollution
Opportunities:
Growing Use of Ceramic Fibre and Ceramic Coatings in Industrial Furnace
Market Leaders and their expansionary development strategies
Abbott Furnace Company, a leading manufacturer of continuous industrial furnaces and thermal processing equipment, announced that it has acquired the intellectual property of Drever Furnace from The Rose Corporation, located in Reading, PA. An excellent complement to Abbott Furnace Company’s expertise and technology in continuous powder metal sintering furnaces, brazing furnaces, and heat treating equipment, the Drever designs will be integrated into Abbott Furnace Company’s current product offering and manufactured in St. Marys.
In August 2018, Granby Industries, manufacturer of steel and fiberglass storage tanks and oil-fired/gas-fired/electric heating products launched Conforto Lowboy KLE electric furnace that allows modulation of the heating power for increased comfort and Conforto KLE and a new function that preheats the circulating air when the blower is set in continuous recirculation.
Key Target Audience
Industrial furnaces Manufacturers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, New Entrants/Investors, Government & Research Organizations, End-Use Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.