DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/xmndj3/induction_furnace) has announced the addition of the "Induction Furnace (IF) Market in India 2015-2019" report to their offering.
The induction furnace market in India will grow at a CAGR of 6.24% during 2014-2019.
Induction furnace has emerged as a boon for small-scale metal manufacturers. It is smaller in size, when compared to Electric Arc Furnace, and has low operational cost. Besides, it comes at an affordable price, which makes the induction furnace the first choice for small scale companies.
Stringent electricity consumption standards and rising energy prices are driving greater demand for energy-efficient IFs. The efficiency of the IF varies from 60% to 80%. Vendors are forced to implement various standards and regulations that govern the production of energy-efficient IFs. However, advances in technology and more advocacy from the vendors' end will likely contribute to market growth during the forecast period.
According to the report, the growth in the IF market in India is because of the increase in capacity building by the steel and copper manufacturers, as the demand for copper and steel is expected to shoot up till 2019.
Further, the report states that and the most prominent challenge for this market is the highly fragmented small-scale metal manufacturers.
The report presents scenario and growth prospects of the induction furnace market in India during 2015-2019. To calculate the market size and vendor share, the report considers the revenue obtained from the sales of ferrous and non-ferrous industrial casting products.
- ABP Induction System
- Electrotherm (India)
- Inductotherm Group India
Other Prominent Vendors
- Agni Electrical
- Magnalenz Induction Melting Furnace
Pees Induction Equipment
For more information visit http://www.researchandmarkets.com/research/xmndj3/induction_furnace