Induction Furnaces market Research Report By Forecast 2025 Industry Survey, Growth, Competitive Landscape and Forecasts to 2025
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Induction Furnaces market Forecast To 2025 Induction Furnaces market Forecast To 2025
• Induction furnace is used to melt metals for its use in industrial processes. This report by Market Research Future (MRFR) unravels that the global Induction Furnaces market is set to mark 5.6% CAGR across the evaluation period 2019 to 2025. It is also assessed to touch USD 1.5 Bn mark in terms of value by 2025.
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Induction Furnaces market Forecast To 2025
“Taste the market data and market information presented through more than 50 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on Induction Furnaces market Forecast To 2025”
• The efficiency of these furnaces in casting metals with high melting points is projected to catalyze the growth of the Induction Furnaces market in the foreseeable future. Increasing demand for metals such as copper and steel in the industrial processes is likely to boost demand for induction furnace in the years to come.
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Induction Furnaces market Forecast To 2025
Global Induction Furnaces market Segmented on the basis of On the basis of type, the Induction Furnaces market has been segmented into coreless induction furnace, channel induction furnace, and others. Among these, the coreless induction furnace segment is prognosticated to anticipated to remain the largest segment over the next couple of years. It is used for casting metals with high melting points such as copper and iron. Increasing demand for these metals in industrial processes is anticipated to boost the growth of the segment in the forthcoming years. On the basis of furnace capacity, the global Induction Furnaces market has been segmented into up to 1 ton, 1 – 100 ton, and more than 100 ton. Among these, the 1 – 100 ton segment is prognosticated to witness the fastest growth rate on account of its extensive use in the developing economies. The product is ideal for small and medium-size plants and requires less investments, which is poised to catapult the segment on growth trajectory.
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Induction Furnaces market Forecast To 2025
Global Induction Furnaces market - Geographical Analysis • The geographical assessment of the global Induction Furnaces market is included in this MRFR report. The regional segments identified and assessed here are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are then further sub-segmented on the basis of key country-level markets. Asia Pacific is the largest region-based segment and is assessed to thrive at the highest CAGR over the forecast period. Increasing investments in the industrial sector, coupled with rapid industrialization, is projected to drive the growth of the industry furnace market in the region. • North America is a comparatively mature market and is expected to exhibit limited demand. Meanwhile, Europe is anticipated to grow substantially over the next few years. The Induction Furnaces market in the region is likely to benefit from the rising domestic applications.
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Induction Furnaces market Forecast To 2025
Global Induction Furnaces market - Competitive Analysis • Electrotherm (India), SMS Elotherm GmbH (Germany), Danieli Group (Italy), Meltech Ltd (UK), Doshi Technologies Pvt. Ltd (India), Tenova SpA (Italy), IHI Machinery and Furnace Co., Ltd (Japan), ECM Technologies (Netherlands), JP Steel, Plantech Co. (Japan), Pees Induction, Equipment’s Pvt. Ltd (India), Agni Electrical Pvt. Ltd (India), and Magnalenz (India) are some of the global players of the Induction Furnaces market. • These players are anticipated to invest in growth strategies such as mergers, agreements, acquisitions, strategic partnerships, alliances, collaborations, etc. In addition, the focus on increasing investments for regional expansion is further prognosticated to drive the growth of the Induction Furnaces market over the next couple of years.
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