Industrial Furnaces Market Outlook - 2026, Key Segments, Competitive Analysis | By Furnace Type, Arrangement, End User

According to a new report published by Allied Market Research, titled, " Industrial Furnaces Market by Furnace Type, Arrangement, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global industrial furnaces market size was valued at $10,958.5 million in 2018 and is projected to reach $16,996.5 million in 2026, growing at a CAGR of 5.4% from 2019 to 2026. The gas/fuel operated industrial furnace segment accounted for over 40% of the industrial furnaces market share in 2018 and is expected to witness significant growth during the forecast period.

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There has been an increase in demand for metals across many end-users, which include railroads, buildings, automobiles, bridges, metallurgy, and ornaments, among various others. This demands more industrial plants to satisfy the growing demand, which in turn, confirms that there is an enormous demand for industrial furnaces from businesses globally. Moreover, industrial furnaces manufacturers have been implementing various technological enhancements in the furnaces, which have been developed in recent years. These new technologies, such as IIoT and others, are anticipated to offer lucrative growth opportunities for the market during the forecast period.

The rise in demand for high-performance, energy-efficient, and low-emission vehicles drive the global industrial furnaces market growth. In addition, a surge in investments in the construction industry and an increase in the manufacturing machinery industry stimulate the industrial furnaces market growth. On the other hand, instability in the prices of raw materials is projected to hinder market development.

In terms of end-user, the transportation segment has secured the highest share in the market in 2018. Whereas, the mechanical & manufacturing equipment segment is expected to witness growth at a CAGR of 4.6% during the forecast period, owing to technological innovations and an increase in emphasis on the construction and other industrial sectors. This is expected to provide lucrative growth opportunities for the industrial furnaces market players in the developing economies.

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The major players in the industrial furnaces market such as International Thermal Systems and Carbolite Gero Ltd. are focused on introducing energy-efficient products to strengthen their product portfolio and market presence in the global market. For instance, UK-based Carbolite Gero Ltd. offers HTF industrial furnace. Electric furnaces are capable of applications such as ceramic injection molding (CIM), annealing, debinding, degassing, drying, debinding in air, sintering, sublimation, synthesis, sintering in air, and tempering.

The key players profiled in the report include ANDRITZ AG, Carbolite Gero Limited, Epcon Industrial Systems, LP, Gasbarre Products, Inc., International Thermal Systems LLC, Ipsen International GmbH, NUTEC Group, SECO/WARWICK S.A., Thermcraft Incorporated, and Thermal Product Solutions.

Key Benefits for Stakeholders:

The report provides an extensive analysis of the current and emerging industrial furnaces market trends and dynamics.

In-depth industrial furnaces market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.

Extensive analysis of the industrial furnaces market is conducted by following key product positioning and monitoring of the top competitors within the market framework.

A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

The global industrial furnaces market forecast analysis from 2018 to 2026 is included in the report.

The key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the industrial furnaces industry.

Global Industrial Furnaces Market Segments:

By Furnace Type

Gas/fuel Operated Industrial Furnace
Electrically Operated Industrial Furnace

By Arrangement

Tube or Clamshell Type
Box Type
Bottom Loading & Car Bottom Furnace
Top Loading Furnace
Others

By End-User

Metals & Mining
Transportation
Oil & Gas
Chemicals
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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