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PUBLISHER: IMARC | PRODUCT CODE: 1390915
PUBLISHER: IMARC | PRODUCT CODE: 1390915
Industrial Furnaces Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Abstract
The global industrial furnaces market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.24% during 2022-2028.
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 2023-2028. 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
Others
Breakup by End Use:
Metals and Mining
Transportation
Oil and Gas
Chemicals
Others
Breakup by Region:
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
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, LOCHER Industrieofen- und Apparatebau GmbH, Nutec Bickley, Seco/Warwick SA, Thermal Product Solutions and Thermcraft Incorporated.
Key Questions Answered in This Report
- 1. What was the size of the global industrial furnaces market in 2022?
- 2. What is the expected growth rate of the global industrial furnaces market during 2023-2028?
- 3. What has been the impact of COVID-19 on the global industrial furnaces market?
- 4. What are the key factors driving the global industrial furnaces market?
- 5. What is the breakup of the global industrial furnaces market based on the furnace type?
- 6. What is the breakup of the global industrial furnaces market based on the arrangement?
- 7. What is the breakup of the global industrial furnaces market based on the end use?
- 8. What are the key regions in the global industrial furnaces market?
- 9. Who are the key players/companies in the global industrial furnaces market?
Product Code: SR112023A4175
Table of Contents
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
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 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
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Carbolite Gero Ltd. (Dutch Verder Group)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Epcon Industrial Systems LP
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Gasbarre Products Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 International Thermal Systems
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Ipsen International GmbH
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 LOCHER Industrieofen- und Apparatebau GmbH
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Nutec Bickley
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Seco/Warwick SA
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.10 Thermal Product Solutions
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Thermcraft Incorporated
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.1 Andritz AG
Product Code: SR112023A4175
List of Figures
- Figure 1: Global: Industrial Furnaces Market: Major Drivers and Challenges
- Figure 2: Global: Industrial Furnaces Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Industrial Furnaces Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Industrial Furnaces Market: Breakup by Furnace Type (in %), 2022
- Figure 5: Global: Industrial Furnaces Market: Breakup by Arrangement (in %), 2022
- Figure 6: Global: Industrial Furnaces Market: Breakup by End Use (in %), 2022
- Figure 7: Global: Industrial Furnaces Market: Breakup by Region (in %), 2022
- Figure 8: Global: Industrial Furnaces (Gas and Fuel Operated Industrial Furnace) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Industrial Furnaces (Gas and Fuel Operated Industrial Furnace) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Industrial Furnaces (Electrically Operated Industrial Furnace) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Industrial Furnaces (Electrically Operated Industrial Furnace) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Industrial Furnaces (Tube or Clamshell Type) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Industrial Furnaces (Tube or Clamshell Type) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Industrial Furnaces (Box Type) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Industrial Furnaces (Box Type) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Industrial Furnaces (Bottom Loading and Car Bottom Furnace) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Industrial Furnaces (Bottom Loading and Car Bottom Furnace) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Industrial Furnaces (Top Loading Furnace) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Industrial Furnaces (Top Loading Furnace) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Industrial Furnaces (Other Arrangements) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Industrial Furnaces (Other Arrangements) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Industrial Furnaces (Metals and Mining) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Industrial Furnaces (Metals and Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Industrial Furnaces (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Industrial Furnaces (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Industrial Furnaces (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Industrial Furnaces (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Industrial Furnaces (Chemicals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Industrial Furnaces (Chemicals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Industrial Furnaces (Other End Uses) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Industrial Furnaces (Other End Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: North America: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: North America: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: United States: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: United States: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Canada: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Canada: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Asia-Pacific: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Asia-Pacific: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: China: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: China: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Japan: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Japan: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: India: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: India: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: South Korea: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: South Korea: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Australia: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Australia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Indonesia: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Indonesia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Europe: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Europe: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Germany: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Germany: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: France: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: France: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: United Kingdom: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: United Kingdom: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Italy: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Italy: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Spain: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Spain: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Russia: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Russia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Latin America: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Latin America: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Brazil: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Brazil: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Mexico: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Mexico: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Middle East and Africa: Industrial Furnaces Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Middle East and Africa: Industrial Furnaces Market: Breakup by Country (in %), 2022
- Figure 80: Middle East and Africa: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Global: Industrial Furnaces Industry: SWOT Analysis
- Figure 82: Global: Industrial Furnaces Industry: Value Chain Analysis
- Figure 83: Global: Industrial Furnaces Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Industrial Furnaces Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Industrial Furnaces Market Forecast: Breakup by Furnace Type (in Million US$), 2023-2028
- Table 3: Global: Industrial Furnaces Market Forecast: Breakup by Arrangement (in Million US$), 2023-2028
- Table 4: Global: Industrial Furnaces Market Forecast: Breakup by End Use (in Million US$), 2023-2028
- Table 5: Global: Industrial Furnaces Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Industrial Furnaces Market: Competitive Structure
- Table 7: Global: Industrial Furnaces Market: Key Players
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