Industrial Furnaces Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global industrial furnaces market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.24% during 2022-2028.
An industrial furnace is a heat-treating system that assists in melting or heating metals at a high temperature. It comprises a refractory chamber, hearth, burner, solid, liquid, or gaseous fuel or electricity, chimney, charging and discharging doors, and loading and unloading equipment. It is mainly utilized for annealing, tempering, or carburizing and pre-treating materials for forging purposes. Besides this, as it is fuel-efficient, compact, and portable, it is also employed in the manufacturing of iron, steel, non-ferrous metals, ceramic and calcination in cement across the globe.
Industrial Furnaces Market Trends:
At present, there is a significant increase in the demand for iron, steel and metals worldwide. This represents one of the key factors impelling the market growth. Apart from this, industrial furnaces are widely utilized in the manufacturing and heat-treating of metallic automotive parts. As a result, the rising sales of automobiles across the globe on account of inflating income levels and increasing global population are supporting the market. Furthermore, there is a considerable rise in the adoption of state-of-the-art technologies and the industrial internet of things (IoT) for providing enhanced efficiency and automation. This, in confluence with the rising adoption of numerous strategies for furnace energy conservation, productivity, and reduction of pollutant emissions, is creating a favorable market outlook. These strategies include the utilization of natural gas, improved insulation and refractory materials. They also involve the usage of advanced burner designs, such as high velocity, regenerative and recuperative burners, along with new combustion technologies like air and fuel staging and flue gas recirculation techniques. The market is also driven by the expanding automotive and steel sector and the extensive investments in construction activities around the world.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial furnaces market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on furnace type, arrangement and end use.
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Andritz AG, Carbolite Gero Ltd. (Dutch Verder Group), Epcon Industrial Systems LP, Gasbarre Products Inc., International Thermal Systems, Ipsen International GmbH, LÖCHER Industrieofen- und Apparatebau GmbH, Nutec Bickley, Seco/Warwick SA, Thermal Product Solutions and Thermcraft Incorporated.
Key Questions Answered in This Report
1. What was the size of the global industrial furnaces market in 2022?
2. What is the expected growth rate of the global industrial furnaces market during 2023-2028?
3. What has been the impact of COVID-19 on the global industrial furnaces market?
4. What are the key factors driving the global industrial furnaces market?
5. What is the breakup of the global industrial furnaces market based on the furnace type?
6. What is the breakup of the global industrial furnaces market based on the arrangement?
7. What is the breakup of the global industrial furnaces market based on the end use?
8. What are the key regions in the global industrial furnaces market?
9. Who are the key players/companies in the global industrial furnaces market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Industrial Furnaces Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Furnace Type
- 6.1 Gas and Fuel Operated Industrial Furnace
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Electrically Operated Industrial Furnace
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 7 Market Breakup by Arrangement
- 7.1 Tube or Clamshell Type
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Box Type
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Bottom Loading and Car Bottom Furnace
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Top Loading Furnace
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Market Breakup by End Use
- 8.1 Metals and Mining
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Transportation
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Oil and Gas
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Chemicals
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Andritz AG
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Carbolite Gero Ltd. (Dutch Verder Group)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Epcon Industrial Systems LP
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Gasbarre Products Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 International Thermal Systems
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Ipsen International GmbH
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 LÖCHER Industrieofen- und Apparatebau GmbH
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Nutec Bickley
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Seco/Warwick SA
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.10 Thermal Product Solutions
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Thermcraft Incorporated
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
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