Induction Furnace (IF) Market in India 2015-2019
About Induction Furnace
Induction furnace is an electrical furnace that facilitates melting of metal using induction heating. It is an energy-efficient and easily-controlled melting process, based on the heating effect of the electromagnetic field. A typical induction furnace comprises inductor coil, shell, crucible, and cooling system, and a tilting mechanism for pouring the molten metal. The inductor coil generates magnetic flux as alternating current passes through it. It is the magnetic flux that creates the heating effect inside the furnace. Typically, the efficiency of an induction furnace ranges between 60-80%, depending on the capacity in terms of volume of the furnace, the properties of the metal being melted, and the speed of the entire process of melting.Induction furnace has emerged as a boon for small-scale metal manufacturers. It is smaller in size, when compared to Electric Arc Furnace, and has low operational cost. Besides, it comes at an affordable price, which makes the induction furnace the first choice for small scale companies.Technavio analysts forecast that the induction furnace market in India will grow at a CAGR of 6.24% during 2014-2019.
Covered in this Report
In this report, Technavio covers the present scenario and growth prospects of the induction furnace market in India during 2015–2019. To calculate the market size and vendor share, the report considers the revenue obtained from the sales of ferrous and non-ferrous industrial casting products.The Technavio report, Induction Furnace Market in India 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. The report covers induction furnace market landscape in India and its growth prospects in the forecast period. The report also includes a discussion on the key vendors operating in the market.
Technavio Announces the Publication of its Research Report – Induction Furnace (IF) Market in India 2015-2019
Technavio recognizes the following companies as the key players in the Induction Furnace (IF) Market in India: ABP Induction System, Electrotherm (India), Inductotherm Group India and Megatherm
Other Prominent Vendors in the market are: Agni Electrical, Indotherm, Magnalenz Induction Melting Furnace and Pees Induction Equipment
Commenting on the report, an analyst from Technavio’s team said: “Stringent electricity consumption standards and rising energy prices are driving greater demand for energy-efficient IFs. The efficiency of the IF varies from 60% to 80%. Vendors are forced to implement various standards and regulations that govern the production of energy-efficient IFs. However, advances in technology and more advocacy from the vendors' end will likely contribute to market growth during the forecast period.”
According to the report, the growth in the IF market in India is because of the increase in capacity building by the steel and copper manufacturers, as the demand for copper and steel is expected to shoot up till 2019.Further, the report states that and the most prominent challenge for this market is the highly fragmented small-scale metal manufacturers.
ABP Induction System, Electrotherm (India), Inductotherm Group India, Megatherm, Agni Electrical, Indotherm, Magnalenz Induction Melting Furnace, Pees Induction Equipment