The Business Research Company’s Induction Furnace Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Induction Furnace Global Market Report 2023 evaluates induction furnace market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global induction furnace market is expected to grow to $1,463.84 million in 2027 at a rate of 6.4%. The market is then expected to grow at a CAGR of 7.4% from 2027 and reach $2,092.24 million in 2032.
The rapid and increased industrialization is expected to drive the growth of the induction furnace market during the forecast period. The macroeconomic variables, such as expanding industrial activity, improved metal output, and rising demand for refined metals in many nations, have accelerated the use of induction furnaces. The procedures used by foundries, manufacturers, mining enterprises, engineering activities, and steel manufacturing firms all depend on specialized industrial induction furnaces. Metallurgical industry induction furnaces, which provide the induction heat required to carry out processing tasks, are at the heart of operations for these industries. The use of induction furnaces in foundries for the production of steel, cast iron, and nonferrous metals has expanded in response to the rising demand for high-quality alloys and metals produced in ecologically sound circumstances. Smelting, steelmaking, metal casting, and heat treatment are a few of the purposes of industrial induction furnaces. For instance, in December 2022, based on three-month moving averages, worldwide industrial production increased 1.5% over the same period the previous year, excluding the United States. For the same period, advanced economies outside of the United States had a decline of less than 0.3%. Following the COVID-19 breakout, the world’s industrial production fell, but it gradually recovered over the following months, reaching a peak of 23% in June 2021. Therefore, the rapid and increased industrialization globally is expected to drive the induction furnace market going forward.
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The induction furnace market segments in the report are:
1) By Type: Coreless Induction Furnace; Channel Induction Furnace
2) By End Use Industries: Steel; Copper; Aluminium; Zinc; Other End Uses
3) By Furnace Capacity: Up to 1 ton; 1-100 ton; More than 100 ton”
The table of contents in TBRC’s induction furnace market report includes:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
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18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Induction Furnace Market, Conclusions And Recommendations
22. Appendix
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