Market Overview:
The Global Induction Heating Systems Market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for induction heating systems in various end-use industries such as industrial, medical, and others. Additionally, the growing demand for portable induction heating systems is also contributing to the market growth. However, high installation and maintenance costs are restraining the market growth. Based on type, the global induction heating systems market can be segmented into portable type and benchtop type. The portable type segment is projected to grow at a higher CAGR during the forecast period from 2018 to 2030 owing to its features such as easy portability and low installation cost as compared with benchtop type induction heating systems. Based on application, the global induction heating systems market can be divided into industrial applications and medical applications. The industrial applications segment dominates this market due to its wide usage in various manufacturing processes across different industries such as automotive, aerospace & defense, metalworking & fabrication etc.
Product Definition:
Induction heating systems are a type of electrical heating system that use an induction coil to create a magnetic field. The object to be heated is placed in the induction coil, and the magnetic field causes electricity to flow through the object. This creates heat that can be used to cook food, melt metal, or heat other objects. Induction heating systems are important because they are more efficient than other types of electrical heating systems and they can heat objects evenly without creating hotspots.
Portable Type:
Portable type is a device that generates electricity from an external source of energy and can be used in various places. It has varied applications such as for charging small electronic devices, powering small appliances like fans, lamps, and others. Portable types are also used to provide power for induction heating systems which are mostly found in homes and offices. Induction heating system uses the portable type of equipment to convert the electrical energy into heat energy for usage at home or office warming purposes during winters only.
Benchtop Type:
The benchtop type is used in induction heating systems for research and development, pilot testing, process development & commercialization and manufacturing of products. It is also used to design the equipment that will be installed in production lines.
The market size spans application areas such as automotive, aerospace & defense, electronics industry (PCB fabrication), energy generation (power plants), food processing industries among others.
Application Insights:
The industrial application segment held the largest market share of over 70% in 2017. The growing demand for induction heating systems from various industries including oil & gas, chemical, metal and mining is expected to drive the global industry growth over the forecast period.
Induction heating system plays a significant role in manufacturing automation processes in several industries such as automotive, medical equipment and food processing among others. Automotive sector accounted for a major share due to increasing production of electric vehicles across the globe which demands high-quality components manufactured by using automated process management systems that require precise temperature control during different phases of manufacturing process. This factor is anticipated to further boost product demand globally over the coming years.
Medical application segment is expected to witness substantial growth rate owing to rapid urbanization along with rising incidences of cardiovascular diseases.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing industrialization and rising living standards of the people. In addition, rapid urbanization in developing countries such as India and China has created a huge demand for household appliances including induction cookers, which will drive industry expansion further.
The Middle East & Africa is also likely to witness significant growth during the forecast period owing to growing oil & gas exploration activities in countries such as Saudi Arabia and UAE. Furthermore, increasing government spending on healthcare sector coupled with rising geriatric population will boost product demand in this region over the next eight years.
Growth Factors:
- Increasing demand for induction heating systems in the automotive and aerospace industries due to their high efficiency and performance.
- Growing popularity of induction heating systems among small-scale businesses due to their low cost of ownership and easy operability.
- Rising demand for induction heating systems from the medical device industry as they are used for sterilization, heat treatment, and bonding applications.
- Increasing adoption of induction heating systems in the metalworking industry as they offer superior performance over traditional methods such as gas or electric welding torches.
Scope Of The Report
Report Attributes
Report Details
Report Title
Induction Heating Systems Market Research Report
By Type
Portable Type, Benchtop Type
By Application
Industrial, Medical
By Companies
SKF, Timken, Radyne Corporation, Inductoheat Europe GmbH, Ambrell, EFD a.s., BALTECH GmbH, Bega Special Tools, C.E.F.I., GH ELECTROTERMIA S.A., GYS, Miller, OLIP SYSTEMS INC, Simatec AG, SMS Elotherm GmbH, Thermatool, Ultraflex Technologies Group
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Induction Heating Systems Market Report Segments:
The global Induction Heating Systems market is segmented on the basis of:
Types
Portable Type, Benchtop 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
Industrial, Medical
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:
- SKF
- Timken
- Radyne Corporation
- Inductoheat Europe GmbH
- Ambrell
- EFD a.s.
- BALTECH GmbH
- Bega Special Tools
- C.E.F.I.
- GH ELECTROTERMIA S.A.
- GYS
- Miller
- OLIP SYSTEMS INC
- Simatec AG
- SMS Elotherm GmbH
- Thermatool
- Ultraflex Technologies Group
Highlights of The Induction Heating Systems 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:
- Portable Type
- Benchtop Type
- By Application:
- Industrial
- Medical
- 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 Induction Heating Systems 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?
Induction heating systems use a magnetic field to generate heat. The system works by passing an electric current through coils that are wrapped around a metal core. This creates a powerful magnetic field, which in turn causes the metal to heat up.
Some of the major players in the induction heating systems market are SKF, Timken, Radyne Corporation, Inductoheat Europe GmbH, Ambrell, EFD a.s., BALTECH GmbH, Bega Special Tools, C.E.F.I., GH ELECTROTERMIA S.A., GYS, Miller, OLIP SYSTEMS INC, Simatec AG, SMS Elotherm GmbH, Thermatool, Ultraflex Technologies Group.
The induction heating systems market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Induction Heating Systems 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 Induction Heating Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Induction Heating Systems 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 Induction Heating Systems 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 Induction Heating Systems Market Size & Forecast, 2018-2028
4.5.1 Induction Heating Systems Market Size and Y-o-Y Growth
4.5.2 Induction Heating Systems Market Absolute $ Opportunity
Chapter 5 Global Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Type
5.2.1 Portable Type
5.2.2 Benchtop Type
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Applications
6.2.1 Industrial
6.2.2 Medical
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Induction Heating Systems 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 Induction Heating Systems 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 Induction Heating Systems Analysis and Forecast
9.1 Introduction
9.2 North America Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Type
9.6.1 Portable Type
9.6.2 Benchtop 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 Induction Heating Systems Market Size Forecast by Applications
9.10.1 Industrial
9.10.2 Medical
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 Induction Heating Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Type
10.6.1 Portable Type
10.6.2 Benchtop 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 Induction Heating Systems Market Size Forecast by Applications
10.10.1 Industrial
10.10.2 Medical
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 Induction Heating Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Type
11.6.1 Portable Type
11.6.2 Benchtop 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 Induction Heating Systems Market Size Forecast by Applications
11.10.1 Industrial
11.10.2 Medical
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 Induction Heating Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Induction Heating Systems 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 Induction Heating Systems Market Size Forecast by Type
12.6.1 Portable Type
12.6.2 Benchtop 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 Induction Heating Systems Market Size Forecast by Applications
12.10.1 Industrial
12.10.2 Medical
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) Induction Heating Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Induction Heating Systems 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) Induction Heating Systems Market Size Forecast by Type
13.6.1 Portable Type
13.6.2 Benchtop 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) Induction Heating Systems Market Size Forecast by Applications
13.10.1 Industrial
13.10.2 Medical
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 Induction Heating Systems Market: Competitive Dashboard
14.2 Global Induction Heating Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SKF
14.3.2 Timken
14.3.3 Radyne Corporation
14.3.4 Inductoheat Europe GmbH
14.3.5 Ambrell
14.3.6 EFD a.s.
14.3.7 BALTECH GmbH
14.3.8 Bega Special Tools
14.3.9 C.E.F.I.
14.3.10 GH ELECTROTERMIA S.A.
14.3.11 GYS
14.3.12 Miller
14.3.13 OLIP SYSTEMS INC
14.3.14 Simatec AG
14.3.15 SMS Elotherm GmbH
14.3.16 Thermatool
14.3.17 Ultraflex Technologies Group
