Industrial Furnaces Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Industrial Furnaces Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global industrial furnaces market size reached US$ 12.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2027, exhibiting a growth rate (CAGR) of 5.41% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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 2022-2027. 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

Breakup by End Use:

Metals and Mining
Oil and Gas

Breakup by Region:

North America
United States
South Korea
United Kingdom
Latin America
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:
How has the global industrial furnaces market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industrial furnaces market?
What are the key regional markets?
What is the breakup of the market based on the furnace type?
What is the breakup of the market based on the arrangement?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industrial furnaces market and who are the key players?
What is the degree of competition in the industry?

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 Market Trends Market Forecast
9.1.2 Canada Market Trends Market Forecast
9.2 Asia-Pacific
9.2.1 China Market Trends Market Forecast
9.2.2 Japan Market Trends Market Forecast
9.2.3 India Market Trends Market Forecast
9.2.4 South Korea Market Trends Market Forecast
9.2.5 Australia Market Trends Market Forecast
9.2.6 Indonesia Market Trends Market Forecast
9.2.7 Others Market Trends Market Forecast
9.3 Europe
9.3.1 Germany Market Trends Market Forecast
9.3.2 France Market Trends Market Forecast
9.3.3 United Kingdom Market Trends Market Forecast
9.3.4 Italy Market Trends Market Forecast
9.3.5 Spain Market Trends Market Forecast
9.3.6 Russia Market Trends Market Forecast
9.3.7 Others Market Trends Market Forecast
9.4 Latin America
9.4.1 Brazil Market Trends Market Forecast
9.4.2 Mexico Market Trends Market Forecast
9.4.3 Others Market Trends 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 Company Overview Product Portfolio Financials SWOT Analysis
14.3.2 Carbolite Gero Ltd. (Dutch Verder Group) Company Overview Product Portfolio
14.3.3 Epcon Industrial Systems LP Company Overview Product Portfolio
14.3.4 Gasbarre Products Inc. Company Overview Product Portfolio
14.3.5 International Thermal Systems Company Overview Product Portfolio
14.3.6 Ipsen International GmbH Company Overview Product Portfolio
14.3.7 LÖCHER Industrieofen- und Apparatebau GmbH Company Overview Product Portfolio
14.3.8 Nutec Bickley Company Overview Product Portfolio
14.3.9 Seco/Warwick SA Company Overview Product Portfolio Financials
14.3.10 Thermal Product Solutions Company Overview Product Portfolio
14.3.11 Thermcraft Incorporated Company Overview Product Portfolio

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