Market Overview:
The global furnace heating coils market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for furnace heating coils in various applications, such as industrial and commercial sectors. In terms of type, the metal heating elements segment is expected to hold a major share of the global furnace heating coils market during the forecast period. This can be attributed to their high efficiency and durability as compared to other types of heating elements. In terms of application, the industrial sector is expected to hold a major share of the global furnace heating coils market during the forecast period.
Product Definition:
In a furnace, heating coils are the metal tubes that heat up and produce warmth. The coils are usually located near the front of the furnace so that they can heat up air as it comes in. This air is then blown across the house to provide warmth.
Metal Heating Elements:
Metal heating elements are used in furnaces for the purpose of heat treatment and production of steel, iron, alloying elements & other metals. The metal heating element is a part of furnace which generates heat energy required to melt the raw material and produce final product. In case of ferrous materials such as steel or cast iron; these materials have high melting point so that they can be heated to their boiling point (1400C) before adding them into molding machine.
Ceramic and Semiconductor Heating Elements:
Ceramic and semiconductor heating elements are used in furnace heating coils for heat treatment processes. These products have applications in various end-use industries including automotive, construction, electrical and electronics manufacturing. The growing demand for energy-efficient solutions is expected to drive the global market over the forecast period.
Application Insights:
The industrial application segment accounted for the largest share of over 70.0% in 2017 and is projected to witness significant growth over the forecast period. Furnace heating elements are widely used in various industries including steel, automotive, oil & gas, chemical and power generation owing to their ability to provide uniform heat across a wide area within seconds.
Industrial furnaces require high heat resistance materials for their components as they are exposed to corrosion and other environmental factors such as dust particles, dirt etc., during manufacturing processes. Ceramic products have shown capability of withstanding harsh environments which makes them suitable for use in industrial applications where durability is an important factor driving product demand.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rapid industrialization and increasing demand for energy-efficient furnaces from various end-use industries. Furthermore, rising construction activities in emerging countries such as India, China, Indonesia, Malaysia and Thailand are likely to drive product demand further.
The growing manufacturing sector across Asia Pacific economies including China has led to an increase in production facilities that require high temperature furnace heating systems for efficient processing of materials. Moreover, favorable government initiatives encouraging domestic manufacturing practices are projected to boost regional product demand over the forecast period.
Europe accounted for a significant share of revenue on account of growing adoption by several key end-use industries such as metal processing & shaping (heating elements), food & beverage (ceramic heating elements), pharmaceuticals (semiconductor heating elements) etc., especially from countries including Germany; U.K.
Growth Factors:
- Increasing demand for energy-efficient heating systems: The global market for furnace heating coils is expected to grow at a CAGR of 5.5% from 2016 to 2021. This growth can be attributed to the increasing demand for energy-efficient heating systems, especially in developed countries such as the U.S., Canada, and Germany.
- Rising awareness about the benefits of furnace heating coils: Furnace heating coils offer several advantages over other types of home heating systems, such as reduced electricity bills and improved indoor air quality. As a result, there is rising awareness about these benefits among consumers, which is driving the growth of the global furnace heating coils market.
- Growing popularity of smart homes: With advancements in technology, there is growing demand for smart homes that are equipped with features such as voice recognition and remote monitoring capabilities. Furnace heating coils are an important part of these homes and are expected to witness significant growth in demand in the coming years owing to this trend..
Scope Of The Report
Report Attributes
Report Details
Report Title
Furnace Heating Coils Market Research Report
By Type
Metal Heating Elements, Ceramic and Semiconductor Heating Elements, Others
By Application
Industrial, Commercial
By Companies
Sandvik, Sentro Tech, Industrial Furnace Interiors (IFI), Escorts Limited, Watlow Electric Manufacturing, Tutco, Marathon Heater, Phoenix Induction
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
165
Number of Tables & Figures
116
Customization Available
Yes, the report can be customized as per your need.
Global Furnace Heating Coils Market Report Segments:
The global Furnace Heating Coils market is segmented on the basis of:
Types
Metal Heating Elements, Ceramic and Semiconductor Heating Elements, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sandvik
- Sentro Tech
- Industrial Furnace Interiors (IFI)
- Escorts Limited
- Watlow Electric Manufacturing
- Tutco
- Marathon Heater
- Phoenix Induction
Highlights of The Furnace Heating Coils Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Metal Heating Elements
- Ceramic and Semiconductor Heating Elements
- Others
- By Application:
- Industrial
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Furnace Heating Coils Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A furnace heating coils are a type of electric heating element used in furnaces to heat the air or gas inside the furnace.
Some of the major players in the furnace heating coils market are Sandvik, Sentro Tech, Industrial Furnace Interiors (IFI), Escorts Limited, Watlow Electric Manufacturing, Tutco, Marathon Heater, Phoenix Induction.
The furnace heating coils market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Furnace Heating Coils Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Furnace Heating Coils Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Furnace Heating Coils Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Furnace Heating Coils Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Furnace Heating Coils Market Size & Forecast, 2020-2028
4.5.1 Furnace Heating Coils Market Size and Y-o-Y Growth
4.5.2 Furnace Heating Coils Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Metal Heating Elements
5.2.2 Ceramic and Semiconductor Heating Elements
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Furnace Heating Coils Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Furnace Heating Coils Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Metal Heating Elements
9.6.2 Ceramic and Semiconductor Heating Elements
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Metal Heating Elements
10.6.2 Ceramic and Semiconductor Heating Elements
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Metal Heating Elements
11.6.2 Ceramic and Semiconductor Heating Elements
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Metal Heating Elements
12.6.2 Ceramic and Semiconductor Heating Elements
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Metal Heating Elements
13.6.2 Ceramic and Semiconductor Heating Elements
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Furnace Heating Coils Market: Competitive Dashboard
14.2 Global Furnace Heating Coils Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sandvik
14.3.2 Sentro Tech
14.3.3 Industrial Furnace Interiors (IFI)
14.3.4 Escorts Limited
14.3.5 Watlow Electric Manufacturing
14.3.6 Tutco
14.3.7 Marathon Heater
14.3.8 Phoenix Induction
