About Induction Heater
Induction is the process of heating electrically conducting object such as metals by electromagnetic induction where heat is generated through eddy currents. Induction heating is fast, precise, clean, energy efficient, controllable and repeatable. These heaters are widely used in automotive segment for brazing, bonding, hardening, preheating, postheatings of engine parts, air-conditioning systems, brake linings among others. Apart from the mentioned applications, induction heating finds application in manufacturing of bulldozers, spacecraft, faucets and sealing plastic lids on pharmaceutical bottles.
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 Induction Heater 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 Induction Heater 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 Indians Manufacturers will contribute the maximum growth to Global Induction Heater 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.
Schaeffer AG (Germany), Prestige Ltd (India), Radyne Corporation (United States), SKF AB (Sweden), C.E.I.A. SpA (Italy), GH Induction Atmospheres (United States), VGK Electric (India), EFD Induction (Norway), Inventum Engineers Company Pvt. Ltd. (India) and Krishna Electronics (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Inductotherm Group (India).
Segmentation Overview
AMA Research has segmented the market of Global Induction Heater market by Type (Desktop Induction Heater and Portable Induction Heater), Application (Automotive, Electrotechnical, Metal and Foundry, Households and Others) and Region.
On the basis of geography, the market of Induction Heater 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 Power Consumption Variants, the sub-segment i.e. 0 to 5 KWh will boost the Induction Heater market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Modular Designed Induction Heating Systems Are Being Used In Industries
Market Growth Drivers:
Wide Usage for Melting, Heating and Welding Applications across Industries and Automotive Segment Is the Key Driver and Awareness among People to Use Equipments That Provide Clean Energy
Challenges:
High Manufacturing Costs
Restraints:
Induction Stove Relies On High Quality of Electricity Which Undeveloped Countries Have Not Achieved, Hence Market Growth Is Restricted In These Countries
Opportunities:
With The Declining Natural Resources Worldwide the Companies Are Inclining Towards Electric Equipment for Better Efficiency and Cost
Market Leaders and their expansionary development strategies
In July 2019, A manufacturer of induction furnaces and heating systems is scheduled to be acquired by two global corporations from a Chicago-based private equity firm. Mitsubishi Heavy Industries (MHI) and Primetals Technologies will acquire ABP Induction Systems (ABP), which offers a variety of products and services to automotive OEMs and suppliers, industrial manufacturers, independent foundries as well as steel plant manufacturers and steel producers.
In December 2023, InTEST Corporation, a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor (“semi”), announced the introduction of its all-new EKOHEAT 2 induction heating products by Ambrell, an inTEST company. The EKOHEAT 2 offering is the next generation and evolution of Ambrell’s renowned VPA Technology.
Key Target Audience
Induction Heater Manufacturer, Induction Heater Distributor and Supplier, Induction Heater Raw Material Supplier, Induction Heater End-User, Downstream Vendors, Importer/Exporter 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.