Press release
Industrial Furnaces Market Worth $16,996.5 Million in 2026 | Business Outlook and Growth Strategies
Industrial Furnaces Market
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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 major objectives of using an industrial furnace are to use heat proficiently (so that losses are minimum), and to manage and control the diverse phases (gas, liquid, or solid) moving at various speeds for different temperatures and times such that corrosion and erosion of the refractory are least.
One of the major factors that drives the growth of the industrial furnaces market include the recurring demand for iron and steel accompanied by other significant materials and metals. In addition, factors such as rise in adoption of electric industrial furnaces and increase in demand for lightweight vehicles, owing to technological advancements, fuel the growth of the global market.
Moreover, many automotive component producers utilize industrial furnaces to manufacture and heat treat metallic automotive parts, which are used in automotive assembly. This upward trend of manufacturing lightweight metal components in the automotive industry coupled with the growth in production and sales of automobiles drives the market growth.
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Key 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
Key Players
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
Thermal Product Solutions
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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