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The latest report by IMARC, titled “ IndustrialFurnacesMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast20 22-2027
” finds that the global industrial furnaces market size reached a value of US$ 12.3 Billion in 2021. An industrial furnace is a system that melts or heats metals at a high temperature. It comprises a refractory chamber, solid, burner, liquid, hearth, or gaseous fuel or electricity, charging and discharging doors, chimney, and loading and unloading equipment.
It is utilized for tempering, annealing, or carburizing and pre-treating materials for forging purposes. Besides this, it is also used in manufacturing iron, steel, non-ferrous metals, ceramic, and calcination in cement due to its fuel-efficient, compact, portable, and durable properties. Request Free Sample Report: https://www.imarcgroup.com/industrial-furnaces-market/requestsample
The market is primarily driven by the escalating demand for various metals such as iron and steel. In addition, the rising sales of automobiles due to the inflating income levels and increasing global population represents another major growth-inducing factor. Industrial furnaces find extensive applications in the manufacturing and heat-treating of metallic automotive parts. Besides this, there is a significant increase in the adoption of the industrial internet of things (IoT) and state-of-the-art technologies to provide enhanced efficiency and automation.
This, coupled with the rising adoption of advanced and environment-friendly production processes for furnace energy conservation, is positively influencing the market growth. These advanced processes include the usage of natural gas, insulation, refractory materials, and advanced burner designs. Looking forward, IMARC Group expects the market to reach a value of US$ 17.0 Billion by 2027, exhibiting a CAGR of 5.41% during the forecast period (2022-2027).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
MarketSummary:
BreakupbyFurnaceType:
• Gas and Fuel Operated Industrial Furnace
• Electrically Operated Industrial Furnace
BreakupbyArrangement:
• Tube or Clamshell Type
• Box Type
• Bottom Loading and Car Bottom Furnace
• Top Loading Furnace
• Others
BreakupbyEndUse:
• Metals and Mining
• Transportation
• Oil and Gas
• Chemicals
• Others
BreakupbyRegion:
• 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
CompetitiveLandscapewithKeyPlayers:
Carbolite Gero Ltd. (Dutch Verder Group)
Epcon Industrial Systems LP
Gasbarre Products Inc.
International Thermal Systems
Ipsen International GmbH
LOECHER Industrieofen- und Apparatebau GmbH
Nutec Bickley
Seco/Warwick SA
Thermal Product Solutions
• Thermcraft Incorporated
ViewFullReportwithTOC&ListofFigure:https://www.imarcgroup.com/industrial-furnaces-market
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