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Industrial Furnaces Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

November 2023 | 141 pages | ID: I353F47606BBEN
IMARC Group

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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, LЦCHER 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?
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
9.2 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
9.3 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
9.4 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
9.5 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 LЦCHER 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

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

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


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