Industrial Ovens and Furnaces: Introduction

  • Industrial ovens and furnaces are primarily used in industries such as automotive and construction to heat-treat metals in order to produce steam
  • An industrial oven or furnace is a device or equipment used for strong melting or heating of metals for casting. Industrial ovens and furnaces change shape of the metal through rolling and forging and transform properties of the metal through heat treatment.
  • Industrial ovens and furnaces are of several types such as electric, batch, fuel-fired, induction, and dielectric. Industrial ovens and furnaces are employed to carry out numerous functions such as brazing, annealing, hardening, carburizing, tempering of ferrous and non-ferrous castings, and sintering.
  • Key application areas of industrial ovens and furnaces are metallurgy, petrochemical industry, and material handling
  • The global industrial ovens and furnaces market is expected to expand at a rapid pace during the forecast period, owing to increase in the demand for industrial ovens and furnaces in different industries such as construction and automotive
industrial ovens and furnaces market

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Global Industrial Ovens and Furnaces Market: Dynamics

Global Industrial Ovens and Furnaces Market: Key Drivers and Restraints

  • Increase in the adoption of machinery enabled with Industrial Internet of Things (IIoT) and equipped with temperature control sensors and POC analyzers and rise in investments in smart factories are anticipated to fuel the market for industrial ovens and furnaces in the next few years
  • Rising demand for fabricated metals in the automobile industry is anticipated to propel the global industrial ovens and furnaces market during the forecast period
  • Increase in the consumption of iron and steel in the infrastructure sector in developing countries is projected to propel the global industrial ovens and furnaces market in these countries in the near future
  • Technological advancements and increased demand for a wide range of processed metal products are some of the major factors estimated to boost the global industrial ovens and furnaces market in the next few years
  • Increasing replacement of old furnaces and ovens, rise in the popularity of hybrid furnaces, and availability of new oxygen technologies are other factors anticipated to boost the global industrial ovens and furnaces market between 2019 and 2027
  • Steel- and metal-processing industries offer lucrative opportunities to the global industrial ovens and furnaces market. This factor is expected to boost the demand for industrial ovens and furnaces in the next few years.
  • However, high cost of industrial ovens and furnaces is anticipated to hamper the global market during the forecast period
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Europe to Hold a Leading Share of Global Industrial Ovens and Furnaces Market

  • Europe is expected to witness the maximum demand for industrial ovens and furnaces from 2019 to 2027. In terms of consumption, Europe is the leading region of the global industrial ovens and furnaces market. Additionally, Europe is a hub for the automotive industry, owing to presence of top automobile manufacturers with high production capacities such as BMW, Volvo, and Audi.
  • Asia Pacific is anticipated to be the rapidly expanding market for industrial ovens and furnaces between 2019 and 2027. This is primarily due to rapid industrialization in the region. Also, a few notable steelmaking plants are planning to start their projects in China and India in the next few years. This, in turn, is anticipated to fuel the demand for industrial ovens and furnaces in these countries of Asia Pacific in the near future.
  • Furthermore, increase in the production of automobiles, rapid rise in construction activities, and increase in usage of drying and infrared firing ovens and furnaces are driving the market for industrial ovens and furnaces in Asia Pacific

Global Industrial Ovens and Furnaces Market: Competition Landscape

Key Players Operating in Global Industrial Ovens and Furnaces Market

Numerous local, regional, and international players operate in the global industrial ovens and furnaces market. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Manufacturers of industrial ovens and furnaces are adopting key strategies of new product development and acquisitions to cater to the needs of end-users. Key players operating in the global industrial ovens and furnaces market are:

  • Andritz AG
  • Tenova S.p.A.
  • Despatch Industries
  • Primetals Technologies Limited
  • Aichelin Group
  • AFC-Holcroft
  • Airtec Thermoprocess GmbH
  • AVS, Inc.
  • Can-Eng Furnaces International Limited
  • Carbolite Gero Ltd.
  • ElectroHeat AB
  • Inductotherm Corporation
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Global Industrial Ovens and Furnaces Market: Research Scope

Global Industrial Ovens and Furnaces Market, by Product Type

  • Electric Industrial Ovens and Furnaces
  • Induction & Dielectric Industrial Ovens and Furnaces
  • Industrial Electric Heating Equipment
  • Fuel-fired Industrial Ovens and Furnaces

Global Industrial Ovens and Furnaces Market, by Power Type

  • Combustion Type
  • Electric Type

Global Industrial Ovens and Furnaces Market,

  • Aerospace
  • Furniture
  • Marine
  • Automotive
  • Pharmaceutical
  • Food Production

Global Industrial Ovens and Furnaces Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
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