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Global Induction Heating System Market Size Study & Forecast, By Product (Portable, Stationary) By End Use (Automotive, Aerospace, Power Generation, Shipbuilding, Oil & Gas, Others) and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: GD8EDF9D0A02EN
Bizwit Research & Consulting LLP

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Global Induction Heating System Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. Induction Heating System is a method of heating conductive materials through electromagnetic induction. It operates by generating a high-frequency alternating current (AC) within a conductive coil, which creates a fluctuating magnetic field around the coil. When a conductive material is placed within this magnetic field, eddy currents are induced within the material, generating heat due to its resistance to the current flow. The Induction Heating System market is expanding because of factors such as the rapid rate of industrialization and increasing consumption of renewable energy resources. Induction heating systems are widely used in various industrial processes such as metalworking, forging, heat treating, and melting. They offer advantages such as fast heating, precise temperature control, energy efficiency, and localized heating, making them suitable for a wide range of applications. As a result, the demand for Induction Heating Systems has progressively increased in the international market during the forecast period 2023-2030.

Industrialization leads to the growth of diverse industries, including automotive, aerospace, electronics, and manufacturing. Induction heating systems find applications in various processes within these industries, such as brazing, soldering, annealing, forging, and heat treatment. The expanding range of applications increases the demand for induction heating equipment. According to Statista, in 2020 the global manufacturing industry accounted for USD 12.17 trillion and is projected to reach up to USD 17.67 trillion by the year 2028. Furthermore, induction heating systems can enhance productivity and product quality in industrial processes. They offer precise control over heating parameters, uniform heating, and rapid heating rates, leading to shorter processing times and improved product consistency. Another important factor that drives the Induction Heating System market is the increasing consumption of renewable energy resources. Induction heating systems are highly compatible with renewable energy sources such as solar and wind power. These systems can efficiently utilize the intermittent nature of renewable energy by easily adjusting power levels to match the available energy supply. In addition, as per Statista, global renewable energy consumption accounts for 34.87 exajoules in 2020 and reached up to 45.18 exajoules in 2022. Moreover, government investments in clean energy infrastructure and technological advancements associated with induction heating systems are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, high initial investment and lack of awareness regarding induction heating systems are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Induction Heating System Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing awareness about the adoption of energy-efficient systems in the region. Induction heating systems are known for their high energy efficiency. They convert electrical energy into heat directly within the material can heated, without relying on intermediate heating elements or heat transfer mediums. This direct conversion process minimizes energy loss compared to traditional heating methods like gas furnaces or resistive heating. The region’s dominant performance is anticipated to propel the overall demand for Induction Heating Systems. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as government investment in clean energy infrastructure in the region. Increased government investment in clean energy often includes funding for research and development in various clean energy technologies, including induction heating. This can lead to advancements in induction heating systems, making them more efficient, cost-effective, and applicable across various industries.

Major market players included in this report are:

Fuji Electric Co., Ltd.

Heatrotherm LLC

Interpower Induction Heating Corp.

Radyne Technologies Inc.

Thermo International Inc.

Ultraflex Power Technologies Inc.

Microtech Inductions LLC

Ambrell Corporation

C-Tech Innovation Company

EFD Induction Inc.

Recent Developments in the Market:
  • In December 2023, inTEST Corporation, a global supplier of innovative test and process technology solutions launched its all-new EKOHEAT 2 induction heating products by Ambrell, an inTEST company. The EKOHEAT 2 solution represents the latest generation and advancement of Ambrell's well-known VPA technology. The EKOHEAT 2 product series has an industry-first internal control and power delivery technology and advanced internal monitoring. This exclusive monitoring system comes with a freshly designed, intuitive touchscreen, a comprehensive suite of diagnostics and on-board support movies, and user manuals in different languages. EKOHEAT 2 with advanced internal monitoring improves process heating accuracy while reducing system cooling requirements. Furthermore, by incorporating cutting-edge semiconductor technology into EKOHEAT 2 products, the management, and monitoring of output voltage, power, and resonant frequency are all digitized, resulting in increased process heating efficiency and response.
Global Induction Heating System Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Product, End Use, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product

Portable

Stationary

By End Use

Automotive

Aerospace

Power Generation

Shipbuilding

Oil & Gas

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Induction Heating System Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Induction Heating System Market, by Product, 2020-2030 (USD Billion)
  1.2.3. Induction Heating System Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL INDUCTION HEATING SYSTEM MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL INDUCTION HEATING SYSTEM MARKET DYNAMICS

3.1. Induction Heating System Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Rapid Rate of Industrialization
    3.1.1.2. Increasing Consumption of Renewable Energy Resources
  3.1.2. Market Challenges
    3.1.2.1. High Initial Investment
    3.1.2.2. Lack of Awareness Regarding Induction Heating System
  3.1.3. Market Opportunities
    3.1.3.1. Government Investments towards Clean Energy Infrastructure
    3.1.3.2. Technological Advancements Associated to Induction Heating Systems

CHAPTER 4. GLOBAL INDUCTION HEATING SYSTEM MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL INDUCTION HEATING SYSTEM MARKET, BY PRODUCT

5.1. Market Snapshot
5.2. Global Induction Heating System Market by Product, Performance - Potential Analysis
5.3. Global Induction Heating System Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Induction Heating System Market, Sub Segment Analysis
  5.4.1. Portable
  5.4.2. Stationary

CHAPTER 6. GLOBAL INDUCTION HEATING SYSTEM MARKET, BY END USE

6.1. Market Snapshot
6.2. Global Induction Heating System Market by End Use, Performance - Potential Analysis
6.3. Global Induction Heating System Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
6.4. Induction Heating System Market, Sub Segment Analysis
  6.4.1. Automotive
  6.4.2. Aerospace
  6.4.3. Power Generation
  6.4.4. Shipbuilding
  6.4.5. Oil & Gas
  6.4.6. Others

CHAPTER 7. GLOBAL INDUCTION HEATING SYSTEM MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Induction Heating System Market, Regional Market Snapshot
7.4. North America Induction Heating System Market
  7.4.1. U.S. Induction Heating System Market
    7.4.1.1. Product breakdown estimates & forecasts, 2020-2030
    7.4.1.2. End Use breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Induction Heating System Market
7.5. Europe Induction Heating System Market Snapshot
  7.5.1. U.K. Induction Heating System Market
  7.5.2. Germany Induction Heating System Market
  7.5.3. France Induction Heating System Market
  7.5.4. Spain Induction Heating System Market
  7.5.5. Italy Induction Heating System Market
  7.5.6. Rest of Europe Induction Heating System Market
7.6. Asia-Pacific Induction Heating System Market Snapshot
  7.6.1. China Induction Heating System Market
  7.6.2. India Induction Heating System Market
  7.6.3. Japan Induction Heating System Market
  7.6.4. Australia Induction Heating System Market
  7.6.5. South Korea Induction Heating System Market
  7.6.6. Rest of Asia Pacific Induction Heating System Market
7.7. Latin America Induction Heating System Market Snapshot
  7.7.1. Brazil Induction Heating System Market
  7.7.2. Mexico Induction Heating System Market
7.8. Middle East & Africa Induction Heating System Market
  7.8.1. Saudi Arabia Induction Heating System Market
  7.8.2. South Africa Induction Heating System Market
  7.8.3. Rest of Middle East & Africa Induction Heating System Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Fuji Electric Co., Ltd.
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. Heatrotherm LLC
  8.3.3. Interpower Induction Heating Corp.
  8.3.4. Radyne Technologies Inc.
  8.3.5. Thermo International Inc.
  8.3.6. Ultraflex Power Technologies Inc.
  8.3.7. Microtech Inductions LLC
  8.3.8. Ambrell Corporation
  8.3.9. C-Tech Innovation Company
  8.3.10. EFD Induction Inc.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Induction Heating System Market, report scope
TABLE 2. Global Induction Heating System Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Induction Heating System Market estimates & forecasts by Product 2020-2030 (USD Billion)
TABLE 4. Global Induction Heating System Market estimates & forecasts by End Use 2020-2030 (USD Billion)
TABLE 5. Global Induction Heating System Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Induction Heating System Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Induction Heating System Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Induction Heating System Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Induction Heating System Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Induction Heating System Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Induction Heating System Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Induction Heating System Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Induction Heating System Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Induction Heating System Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Induction Heating System Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Induction Heating System Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Induction Heating System Market
TABLE 70. List of primary sources, used in the study of global Induction Heating System Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Induction Heating System Market, research methodology
FIG 2. Global Induction Heating System Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Induction Heating System Market, key trends 2022
FIG 5. Global Induction Heating System Market, growth prospects 2023-2030
FIG 6. Global Induction Heating System Market, porters 5 force model
FIG 7. Global Induction Heating System Market, pest analysis
FIG 8. Global Induction Heating System Market, value chain analysis
FIG 9. Global Induction Heating System Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Induction Heating System Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Induction Heating System Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Induction Heating System Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Induction Heating System Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Induction Heating System Market, regional snapshot 2020 & 2030
FIG 15. North America Induction Heating System Market 2020 & 2030 (USD Billion)
FIG 16. Europe Induction Heating System Market 2020 & 2030 (USD Billion)
FIG 17. Asia Pacific Induction Heating System Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Induction Heating System Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Induction Heating System Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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