Induction Furnace Market Report: Trends, Forecast and Competitive Analysis to 2030

Induction Furnace Market Report: Trends, Forecast and Competitive Analysis to 2030

Induction Furnace Trends and Forecast

The future of the global induction furnace market looks promising with opportunities in the up to 1 ton and more than 100 ton markets. The global induction furnace market is expected to reach an estimated $1.4 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are increasing adoption in the metal and steel industries and growing demand of better energy efficiency and environmental benefits.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Induction Furnace by Segment

The study includes a forecast for the global induction furnace by product, capacity, type, and region.

Induction Furnace Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Coreless Induction Furnace
• Channel Induction Furnace
• Others

Induction Furnace Market by Capacity [Shipment Analysis by Value from 2018 to 2030]:

• Up To 1 Ton
• More Than 100 Ton

Induction Furnace Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Steel
• Aluminium
• Copper
• Others

Induction Furnace Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Induction Furnace Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies induction furnace companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the induction furnace companies profiled in this report include-

• Electrotherm
• Danieli
• SMS Elotherm
• Meltech
• Tenova
• Doshi Technologies

Induction Furnace Market Insights

Lucintel forecasts that steel will remain the largest segment over the forecast period due to increased usage of induction furnaces in steel mills and foundries for manufacturing a variety of steel products.

Within this market, more than 100 ton will remain the largest segment due to growing demand from the construction, automotive, and infrastructure sectors.

APAC will remain the largest region over the forecast period due to rapid industrialization, on-going infrastructure construction, and significantly growing automobile industry in the region.

Features of the Global Induction Furnace Market

Market Size Estimates: Induction furnace market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Induction furnace market size by product, capacity, type, and region in terms of value ($B).

Regional Analysis: Induction furnace market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different products, capacities, types, and regions for the induction furnace market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the induction furnace market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the induction furnace market size?

Answer: The global induction furnace market is expected to reach an estimated $1.4 billion by 2030.

Q2. What is the growth forecast for induction furnace market?

Answer: The global induction furnace market is expected to grow with a CAGR of 6.7% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the induction furnace market?

Answer: The major drivers for this market are increasing adoption in the metal and steel industries and growing demand of better energy efficiency and environmental benefits.

Q4. What are the major segments for induction furnace market?

Answer: The future of the induction furnace market looks promising with opportunities in the up to 1 ton and more than 100 ton markets.

Q5. Who are the key induction furnace market companies?

Answer: Some of the key induction furnace companies are as follows:

• Electrotherm
• Danieli
• SMS Elotherm
• Meltech
• Tenova
• Doshi Technologies

Q6. Which induction furnace market segment will be the largest in future?

Answer: Lucintel forecasts that steel will remain the largest segment over the forecast period due to increased usage of induction furnaces in steel mills and foundries for manufacturing a variety of steel products.

Q7. In induction furnace market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rapid industrialization, on-going infrastructure construction, and significantly growing automobile industry in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the induction furnace market by product (coreless induction furnace, channel induction furnace, and others), capacity (up to 1 ton and more than 100 ton), type (steel, aluminium, copper, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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