Market Overview:
The global hydrogen furnace 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 hydrogen in various applications such as electric vacuum industry, ceramics, alloy, medical equipment and aerospace. Additionally, the growing demand for clean energy is also propelling the growth of the global hydrogen furnace market. However, high installation and maintenance cost may restrain the growth of this market during the forecast period.
Product Definition:
A hydrogen furnace is a type of furnace that uses hydrogen as the primary heating fuel. Hydrogen furnaces are used in a variety of industries, including metalworking, glassmaking, and ceramics. They are also used in research and development laboratories to heat materials for testing purposes.
Horizontal Type:
Horizontal type is a method of casting iron or steel sheets on an open hearth furnace. It is one of the oldest and traditional processes used for manufacturing large quantities of metal products in a short time. Horizontal casting involves moving the molten metal along the line of cast iron or steel, allowing it to cool slightly before being picked up by a rolling mill and finished into shape.
Vertical Type:
Vertical type is also known as inclined or sloped face. It refers to the process of casting iron products into a furnace at an angle. In inclined face, the molten metal flows from top to bottom in order to fill all spaces and obtain maximum volume for a product, thus resulting in high quality and uniform products with minimum wastage.
Application Insights:
The market is segmented by application into electric vacuum industry, ceramics, aolly, medical equipment and aerospace. Electric vacuum industry was the largest application segment in 2017 and accounted for over 40% of the total revenue share. Growing demand for hydrogen from various industries including steel making, oil & gas etc. is expected to drive the growth of this segment over the forecast period.
Medical equipment is anticipated to be one of the fastest growing segments during future years on account of increasing applications in hospitals across globe due to its ability to cleanroom manufacture high-quality medical devices with less cost as compared with other technologies such as 3D printing or CNC machining which are used for same purpose currently.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 60% in 2017 and is anticipated to witness significant growth during the forecast years. This can be attributed to increasing demand from countries, such as Japan, India, and China. In addition, rising investments by governments in these regions are likely to boost product demand over the coming years.
The Asia Pacific was followed by Europe with a share of more than 20% in 2017 owing to growing product adoption across several industries including aerospace & defense and medical equipment manufacturing sector due to favorable government regulations supporting hydrogen energy infrastructure development coupled with supportive FDI policies implemented by various nations including U.K.
North America emerged as one of prominent consumers owing high level of technological advancement observed within this region along with presence major aircraft manufacturers Boeing Co.
Growth Factors:
- Increasing demand for hydrogen in various end-use industries such as chemicals, refining, and metals production is expected to drive the growth of the hydrogen furnace market over the forecast period.
- Growing demand for clean energy is another key factor that is expected to fuel the growth of this market in the near future. Hydrogen furnaces emit zero pollutants and are thus environment-friendly alternatives to traditional furnaces.
- The increasing popularity of fuel cells as a source of clean energy is also anticipated to boost the demand for hydrogen furnaces in coming years. Fuel cells generate electricity by combining hydrogen and oxygen, making them an ideal choice for powering vehicles, buildings, and other applications requiring electric power generation.
- Rapid industrialization in emerging economies such as China and India is projected to create lucrative opportunities for players operating in this market over the forecast period .The growing need for efficient heating solutions across these regions is likely to propel demand for hydrogen furnaces in coming years . 5) Technological advancements that have led to development of more compact and energy-efficient models are likely to spur growth prospects of this market during the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydrogen Furnace Market Research Report
By Type
Horizontal Type, Vertical Type
By Application
Electric Vacuum Industry, Ceramics, Aolly, Medical Equipment, Aerospace, Others
By Companies
Naura, Nabertherm GmbH, MTI Corporation, Thermal Technology, Carbolite Gero Ltd., Concepts&Methods Company, Carbolite Gero Ltd, Shanghai Jvjing Precision Instrument Manufacturing Co, Advanced Corporation for Materials & Equipments, Nanjing Boyuntong Instrument Technology, Sichuan Nanguang Vacuum Technology Co
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
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Hydrogen Furnace Market Report Segments:
The global Hydrogen Furnace market is segmented on the basis of:
Types
Horizontal Type, Vertical Type
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
Electric Vacuum Industry, Ceramics, Aolly, Medical Equipment, Aerospace, Others
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:
- Naura
- Nabertherm GmbH
- MTI Corporation
- Thermal Technology
- Carbolite Gero Ltd.
- Concepts&Methods Company
- Carbolite Gero Ltd
- Shanghai Jvjing Precision Instrument Manufacturing Co
- Advanced Corporation for Materials & Equipments
- Nanjing Boyuntong Instrument Technology
- Sichuan Nanguang Vacuum Technology Co
Highlights of The Hydrogen Furnace 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:
- Horizontal Type
- Vertical Type
- By Application:
- Electric Vacuum Industry
- Ceramics
- Aolly
- Medical Equipment
- Aerospace
- Others
- 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 Hydrogen Furnace 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.
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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 hydrogen furnace is a type of industrial furnace used to produce hydrogen from water. Hydrogen furnaces use heat and pressure to break water molecules into their atomic components, hydrogen and oxygen.
Some of the key players operating in the hydrogen furnace market are Naura, Nabertherm GmbH, MTI Corporation, Thermal Technology, Carbolite Gero Ltd., Concepts&Methods Company, Carbolite Gero Ltd, Shanghai Jvjing Precision Instrument Manufacturing Co, Advanced Corporation for Materials & Equipments, Nanjing Boyuntong Instrument Technology, Sichuan Nanguang Vacuum Technology Co.
The hydrogen furnace 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 Hydrogen Furnace 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 Hydrogen Furnace Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Hydrogen Furnace 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 Hydrogen Furnace 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 Hydrogen Furnace Market Size & Forecast, 2020-2028 4.5.1 Hydrogen Furnace Market Size and Y-o-Y Growth 4.5.2 Hydrogen Furnace 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 Horizontal Type
5.2.2 Vertical Type
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 Electric Vacuum Industry
6.2.2 Ceramics
6.2.3 Aolly
6.2.4 Medical Equipment
6.2.5 Aerospace
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hydrogen Furnace 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 Hydrogen Furnace 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 Horizontal Type
9.6.2 Vertical Type
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 Electric Vacuum Industry
9.10.2 Ceramics
9.10.3 Aolly
9.10.4 Medical Equipment
9.10.5 Aerospace
9.10.6 Others
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 Horizontal Type
10.6.2 Vertical Type
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 Electric Vacuum Industry
10.10.2 Ceramics
10.10.3 Aolly
10.10.4 Medical Equipment
10.10.5 Aerospace
10.10.6 Others
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 Horizontal Type
11.6.2 Vertical Type
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 Electric Vacuum Industry
11.10.2 Ceramics
11.10.3 Aolly
11.10.4 Medical Equipment
11.10.5 Aerospace
11.10.6 Others
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 Horizontal Type
12.6.2 Vertical Type
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 Electric Vacuum Industry
12.10.2 Ceramics
12.10.3 Aolly
12.10.4 Medical Equipment
12.10.5 Aerospace
12.10.6 Others
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 Horizontal Type
13.6.2 Vertical Type
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 Electric Vacuum Industry
13.10.2 Ceramics
13.10.3 Aolly
13.10.4 Medical Equipment
13.10.5 Aerospace
13.10.6 Others
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 Hydrogen Furnace Market: Competitive Dashboard
14.2 Global Hydrogen Furnace Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Naura
14.3.2 Nabertherm GmbH
14.3.3 MTI Corporation
14.3.4 Thermal Technology
14.3.5 Carbolite Gero Ltd.
14.3.6 Concepts&Methods Company
14.3.7 Carbolite Gero Ltd
14.3.8 Shanghai Jvjing Precision Instrument Manufacturing Co
14.3.9 Advanced Corporation for Materials & Equipments
14.3.10 Nanjing Boyuntong Instrument Technology
14.3.11 Sichuan Nanguang Vacuum Technology Co