Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Industrial Furnaces and Ovens market. Market segmentation includes Application (Material Handling, Metallurgy, Petrochemical, Other Applications); Type (Combustion, Electric).
Industrial furnaces and ovens are an integral part of most manufacturing processes. Industrial furnaces and ovens are efficient heating technologies used for heat treatment of metals before processing, and are used for annealing, curing, drying, and baking metal components. Industrial furnaces and ovens are extensively used for various processes by downstream industries such as refining and smelting. Industrial furnaces are used for steel and iron casting and also to produce chemicals, bricks, cement, glass, and iron, among other materials. A key factor influencing growth in the global industrial furnaces market is the extent of demand for iron and steel from various end-use sectors. Metals, primarily iron, steel and aluminum, are widely used in sectors such as automobile, construction and rail roads, which in turn are dependent on the health of the overall economy. The ongoing COVID-19 pandemic and the ensuing contraction in economic growth has however impacted prospects in various end-use sectors, whereby the impact is imminent on the industrial furnaces and ovens market. In the upcoming years, improving economic environment, expanding industrial sector and introduction of new and efficient systems are expected to drive market growth. Advancements in production and processing technologies in the industrial sector are also expected to the growth of industrial furnaces and ovens market. With the development of advanced techniques for annealing, curing, drying, and baking materials, demand for heat treatment technologies including industrial furnaces and ovens will benefit. Relentless improvements in metal manufacturing techniques will also drive demand for advanced industrial grade furnaces and ovens. However, industrial furnaces and ovens are long-term investments with a lifespan of up to 15 years or more. As a result, the replacement market is relatively slow, except for instances where the replaced is mandated through regulations for conforming to new emission norms or other efficiency improvements mandated by law.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 1712. Among this pool, 308 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 68 unique participations, a total of 31 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Despatch Industries, Inc.
Airtec Thermoprocess GmbH
Can-Eng Furnaces International Ltd.
Carbolite Gero Ltd.
CM Furnaces, Inc.
Consolidated Engineering Company
Dowa Thermotech Co., Ltd.
Gasbarre Furnace Group
Segments Covered in the Report -
Type (Combustion, Electric)
Application (Material Handling, Metallurgy, Petrochemical, Other Applications)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.