PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1154087
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1154087
The global Asia Pacific induction heating systems market is slated to propel steadily through 2030 owing to the increasing infrastructural development and industrialization in the region.
Government initiatives and policies for growing the manufacturing sector are probably going to lead to more industrial facilities, which will strengthen the demand for such units. Some of the important tools that are enabling the sectors to satisfy the rising demand and penetrate global markets are policy interventions, trade facilitation, environmental laws, and technological advancements.
To minimize the negative effects of emission regulations, major economies are exploring alternate sources for heating goods, and programs have been put in place to encourage the use of efficient heating products. For instance, in June 2021, Ambrell introduced a new induction heating system called Compact EKOHEAT to accommodate the growing demand from customers. The lower-size work head initially has 10 to 50 kW, but that range will rise throughout the board.
The Asia Pacific induction heating systems market has been divided in terms of product, end-use, and country.
Based on product, the portable segment is expected to proliferate positively from 2022 to 2030 fueled by governmental regulations aimed at reducing greenhouse gas emissions as well as the ongoing deployment of flexible heating systems. The use of the technology will be further boosted by the adoption of energy-efficient rules and standards to encourage the implementation of energy-efficient heating systems.
With respect to end-use, the automotive segment was evaluated at $110 million in 2021 and is poised to garner considerable growth through the study period credited to the ongoing government regulations to reduce carbon emissions and escalating initiatives to achieve energy optimization. Meanwhile, the oil & gas segment is speculated to showcase accelerating growth over the review timeline driven by the surging investments in the construction of gas-based infrastructure together with the use of these heaters for treating rig shafts, drilling tool brazing and de-brazing, and creating pipe ends for cylinders and bottles.
From the regional perspective, the Japan induction heating systems industry recorded around $50 million market valuation in 2021 and is projected to advance at a soaring growth rate through the review period owing to the increasing consumer awareness and ecological concerns that support the installation of dependable and efficient heating units, the market for induction heating systems in the region.
On the other hand, the India induction heating systems market is set to amass more than 3.5% CAGR in the next 8 years attributed to the growing demand for replacing current heating systems with energy-efficient technologies is likely to drive product adoption.