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The global induction furnace market is expected to grow from $1.01 billion in 2021 to $1.06 billion in 2022 at a compound annual growth rate (CAGR) of 5.5%. The global induction furnace market size is expected to reach $1.31 billion in 2026 at a CAGR of 5.5%.

The growth of the aerospace industry is expected to propel the growth of the induction furnace market going forward.

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The induction furnace market consists of sales of induction furnaces by entities (organizations, sole traders, and partnerships) that are used to melt various metals at high temperatures in manufacturing industries. An induction furnace consists of an electric coil carrying an electric current that surrounds the camber of metal, which induces a charge. The circulation of this charge produces a high temperature that melts the metals and is used in making alloys of different metal compositions.

Global Induction Furnace Market Segments Include:
By Type: Coreless Induction Furnace, Channel Induction Furnace

By End-Use Industry: Steel Industry, Copper Industry, Aluminum Industry, Zinc Industry

By Furnace Capacity: Up To 1 Ton, 1–100 Ton, More than 100 Ton

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific is the largest region in the global induction furnace market in 2021.

Strategic partnerships are the key trend gaining popularity in the induction furnace market. Companies operating in induction furnaces are undergoing partnerships to strengthen their position in the market.

TBRC’s Induction Furnace Market Report Covers:

Major Market Players: Electrotherm, Danieli & C. S.p.A, SMS Elotherm GmbH, Meltech Ltd, Tenova S.p.A, Doshi Technologies Pvt. Ltd, IHI Machinery and Furnace Co., Ltd, ECM Technologies, Jiangsu Yueda Group Co., LTD, Wuxi Dongxong Heavy Arc Furnace Co., Ltd, OTTO JUNKER GmbH, Agni Electrical Pvt. Ltd, NUPRO CORPORATION, JP Steel Plantech Co., Magnalenz, Pees Induction Equipment’s Pvt. Ltd, ABP Induction Systems GmbH, INDUCTOTHERM GRO

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Induction Furnace Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides induction furnace market overviews, analyzes and forecasts market size, share, induction furnace market players, induction furnace market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s induction furnace market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Foundries Global Market Report 2022

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Iron And Steel Mills And Ferroalloy Global Market Report 2022

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