The global industrial furnaces and ovens market will reach $10.8-million by 2025, according to a report by market researcher QY Research.
The global industrial furnaces and ovens market was valued at $9.53-million in 2017 representing a compound annual growth rate of 1.6% between 2018 and 2025.
The report studies the global industrial furnaces and ovens market status and forecast, categorising the global industrial furnaces and ovens market by size (value and volume), manufacturers, type, application and region. It focuses on the top manufacturers in North America, Europe, Japan, China, India, South-East Asia and other regions (Central and South America, and Middle East and Africa).
Industrial furnaces and ovens are primarily used by industries to heat-treat metals to generate steam. They are also used in the manufacture of bricks, cement, glass, iron and steel, and other materials. Electric, batch and fuel-fired furnaces are used to perform several functions, such as annealing, brazing, carburising, hardening, sintering, and tempering of ferrous and non-ferrous castings.
Metallurgy, the petrochemicals industry and materials handling are the main application areas for industrial furnaces and ovens market. Dairy, especially materials handling, accounted for 35.66% of total market share, followed by the metallurgy industry (28.83%) and the petrochemicals industry (18.32%).
The largest consumption area is Europe and China, with metallurgy and the materials handling industry leading the market. Europe and North America are a much matured market, with mergers and acquisitions accelerating this process. For emerging economies, like China and India, industrial furnaces and ovens technology is rapidly improving.
Although sales of industrial furnaces and ovens brought a lot of opportunities, the report recommends that new entrants that have money, but lack technical advantage and downstream support, do not enter into this field.
The report covers a number of major manufacturers, such as engineering group Andritz, industrial ovens and thermal products provider Despatch, and engineering and plant construction company Primetals Technologies.
Geographically, this report studies the top producers and consumers, focusing on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering North America, Europe, China, Japan, India, South-East Asia, and other regions (Central and South America, Middle East and Africa).
On the basis of product, the report displays the production, revenue, price, market share and growth rate of each type, primarily split into combustion type and electric type. By application, the market can be split into metallurgy, the petrochemicals industry, materials handling, and other.
QY Research, established in 2007, focuses on custom research, management consulting, initial public offering consulting, industry chain research, data base and seminar services.