DUBLIN--(BUSINESS WIRE)--The "Industrial Furnaces and Ovens - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Industrial Furnaces and Ovens estimated at US$7.8 Billion in the year 2020, is projected to reach a revised size of US$9 Billion by 2027, growing at a CAGR of 2% over the period 2020-2027.
Combustion, one of the segments analyzed in the report, is projected to record 1.9% CAGR and reach US$5.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electric segment is readjusted to a revised 2.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $903.2 Million, While China is Forecast to Grow at 2.8% CAGR
The Industrial Furnaces and Ovens market in the U.S. is estimated at US$903.2 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 2.8% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 1.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Select Competitors (Total 227 Featured) -
- Aichelin Group
- Airtec Thermoprocess GmbH
- Andritz AG
- AVS, Inc.
- Can-Eng Furnaces International Limited
- Carbolite Gero Ltd.
- CERI Phoenix Industrial Furnace CO., LTD.
- CM Furnaces, Inc.
- Consolidated Engineering Company
- Despatch Industries, Inc.
- Dijko Ovens BV
- Dowa Thermotech Co., Ltd.
- ElectroHeat AB
- G-M Enterprises
- Grieve Corporation
- Inductotherm Corporation
- Industrial Furnace Company
- International Thermal Systems LLC
- JLS Redditch, Ltd.
- Keith Company
- Kilns & Furnaces Ltd.
- Nachi-Fujikoshi Corp.
- Nutec Bickley
- Primetals Technologies Limited
- Rogers Engineering & Manufacturing Co., Inc.
- SECO/WARWICK S.A.
- Shenwu Technology Group Corp Co., Ltd.
- Solar Manufacturing
- Solo Swiss Group
- Surface Combustion, Inc.
- Tenova S.P.A
- Thermal Product Solutions
- Wisconsin Oven Corporation
- VAC AERO International, Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- COVID-19 Crisis Triggers Negative Tide in GDP & Industrial Output Forecasts
- Industrial Activity to Remain Subdued in the Immediate Term
- An Introduction to Industrial Furnaces and Ovens
- Electric Furnaces
- Combustion Furnaces
- Global Industrial Furnaces and Ovens Market: Prospects & Outlook
- End-Use Dynamics Influence Trends in the Industrial Furnaces and Ovens Market
- Metallurgical Applications Poised for High Growth
- Developing Countries to Make Significant Gains in the Long-Term Future
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Iron and Steel Demand Determines Trends in the Industrial Furnaces and Ovens Market
- COVID-19 Outbreak Impacts Steel Industry
- Steel Production & Demand Statistics
- Widening Role of Electric Arc Furnace (EAF) in Steel Production Landscape
- Automobile Manufacturing: Industrial Furnaces Hold Significance in Reducing Production Costs and Pollution Levels
- Automotive Production Trends Determine Growth Dynamics of Industrial Furnaces and Ovens Market
- With Oil & Gas Sector Confronting Testing Times Amidst the COVID-19 Pandemic, Industrial Furnaces Market to be Impacted
- Global E&P Industry Revenues Set to Nosedive Remarkably amidst COVID-19 Pandemic
- With Air Travel Coming to a Grinding Halt, Aerospace Industry, Demand for Industrial Furnaces and Ovens to be Affected
- Solar Energy Sector to Present Long-term Opportunities for the Market
- Railroad Sector: Another Prominent Market for Industrial Furnaces and Ovens
- Mining, Melting, and Metal Alloy Machinery Demand Impacts Trends in Industrial Furnace and Ovens Market
- Rising Demand from the Medical Sector Lends Traction to Market Growth
- Increasing Healthcare Expenditure Creates Conducive Environment
- Leveraging Industry 4.0 and IIoT for Development of Smart Industrial Furnaces and Ovens
- Global Blast Furnaces Market to Witness Stable Long-Term Growth
- Replacement of Older Furnaces and Ovens with Advanced Equipment: A Potential Market Opportunity
- Increasing Need for Integrating Automated Systems Fuels Demand for Industrial Ovens
- Customized Industrial Ovens Gain Rapid Market Acceptance
- Technological Advancements to Boost Market Growth
- Hybrid Furnaces Gains Traction
- Advances in Metal Reheat Furnaces
- Rising Prominence of Infrared Heating Ovens in Industrial Process Heating Applications
- Furnace Thermal-Imaging Equipment
- Industrial Furnaces Facilitate Efficient Electrical Component Manufacturing
- Energy Efficient Industrial Furnaces & Ovens Enable Cost Optimization, Driving Adoption among Manufacturers
- Oxygen Technologies Increase Furnace Efficiency
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/mizpk0