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Industrial Furnaces Market Report by Furnace Type (Gas and Fuel Operated Industrial Furnace, Electrically Operated Industrial Furnace), Arrangement (Tube or Clamshell Type, Box Type, Bottom Loading and Car Bottom Furnace, Top Loading Furnace, and Others), End Use (Metals and Mining, Transportation, Oil and Gas, Chemicals, and Others), and Region 2024-2032
Market Report I 2024-08-10 I 141 Pages I IMARC Group
The global industrial furnaces market size reached US$ 13.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.
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 levels from 2024-2032. 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
o United States
o Canada
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
- Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
- Latin America
o Brazil
o Mexico
o 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 2023?
2. What is the expected growth rate of the global industrial furnaces market during 2024-2032?
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 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
Figure 1: Global: Industrial Furnaces Market: Major Drivers and Challenges
Figure 2: Global: Industrial Furnaces Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Industrial Furnaces Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Industrial Furnaces Market: Breakup by Furnace Type (in %), 2023
Figure 5: Global: Industrial Furnaces Market: Breakup by Arrangement (in %), 2023
Figure 6: Global: Industrial Furnaces Market: Breakup by End Use (in %), 2023
Figure 7: Global: Industrial Furnaces Market: Breakup by Region (in %), 2023
Figure 8: Global: Industrial Furnaces (Gas and Fuel Operated Industrial Furnace) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Industrial Furnaces (Gas and Fuel Operated Industrial Furnace) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Industrial Furnaces (Electrically Operated Industrial Furnace) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Industrial Furnaces (Electrically Operated Industrial Furnace) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Industrial Furnaces (Tube or Clamshell Type) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Industrial Furnaces (Tube or Clamshell Type) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Industrial Furnaces (Box Type) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Industrial Furnaces (Box Type) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Industrial Furnaces (Bottom Loading and Car Bottom Furnace) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Industrial Furnaces (Bottom Loading and Car Bottom Furnace) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Industrial Furnaces (Top Loading Furnace) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Industrial Furnaces (Top Loading Furnace) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Industrial Furnaces (Other Arrangements) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Industrial Furnaces (Other Arrangements) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Industrial Furnaces (Metals and Mining) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Industrial Furnaces (Metals and Mining) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Industrial Furnaces (Transportation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Industrial Furnaces (Transportation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Industrial Furnaces (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Industrial Furnaces (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Industrial Furnaces (Chemicals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Industrial Furnaces (Chemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Industrial Furnaces (Other End Uses) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Industrial Furnaces (Other End Uses) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: North America: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: North America: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: United States: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: United States: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Canada: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Canada: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Asia-Pacific: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Asia-Pacific: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: China: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: China: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Japan: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Japan: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: India: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: India: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: South Korea: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: South Korea: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Australia: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Australia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Indonesia: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Indonesia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Europe: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Europe: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Germany: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Germany: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: France: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: France: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: United Kingdom: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: United Kingdom: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Italy: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Italy: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Spain: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Spain: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Russia: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Russia: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Latin America: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Latin America: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Brazil: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Brazil: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Mexico: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Mexico: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Others: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Others: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Middle East and Africa: Industrial Furnaces Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Middle East and Africa: Industrial Furnaces Market: Breakup by Country (in %), 2023
Figure 80: Middle East and Africa: Industrial Furnaces Market Forecast: Sales Value (in Million US$), 2024-2032
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
Table 1: Global: Industrial Furnaces Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Industrial Furnaces Market Forecast: Breakup by Furnace Type (in Million US$), 2024-2032
Table 3: Global: Industrial Furnaces Market Forecast: Breakup by Arrangement (in Million US$), 2024-2032
Table 4: Global: Industrial Furnaces Market Forecast: Breakup by End Use (in Million US$), 2024-2032
Table 5: Global: Industrial Furnaces Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Industrial Furnaces Market: Competitive Structure
Table 7: Global: Industrial Furnaces Market: Key Players
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