Market Overview:
The global heating 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 heating furnaces in various applications such as metallurgy, petrochemical industry, material handling, and others. In terms of type, the combustion type segment is expected to hold a major share of the global heating furnace market during the forecast period. This can be attributed to factors such as low installation and maintenance costs and easy availability of fuel sources.
Product Definition:
A heating furnace is a device used to heat a building or space. The importance of a heating furnace is that it provides warmth in cold weather.
Combustion Type:
The combustion type is used in the heating furnace to convert the energy from fuels such as oil, gas or coal into heat and steam. The process of combustion takes place in two steps, namely complete oxidation and partial oxidation. In complete oxidation step all types of fuel are converted completely to heat and light by oxygen present in air. Whereas, partial oxidation process only burns part of the fuel at a time so that there remains some available for next burn cycle.
Electric Type:
An electric type heating furnace is a heat pump which works on the principle of transferring electricity to the radiators for heat generation. The most common types of heating furnaces include resistance, convection and hybrid.
Resistance Heating Furnace: It uses electrical current to generate heat by passing an electric current through the metal coils inside the furnace.
Application Insights:
The metallurgy application segment led the global heating furnace market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for steel from various industries, including construction, automotive, and energy generation. In addition, rising demand for carbon steel from China and India is expected to drive product demand over the next seven years.
Petrochemical industry accounted for more than 20% share of global revenue in 2017 owing to growing petrochemical production across emerging economies such as China, India and Brazil along with stable supplies from Saudi Arabia and Iran are expected fuel industry expansion over the forecast period.
Regional Analysis:
Asia Pacific dominated the global heating furnace market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand for industrial furnaces from various end-use industries, such as metallurgy, petrochemical industry, and material handling. In addition, rising investments by governments in developing countries are anticipated to boost industrialization which will further propel product demand.
The Asia Pacific regional market was valued at USD X million in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030 owing high growth opportunities offered by rapidly expanding end-use industries such as metallurgy & mining; construction; automotive; food & beverage processing; pharmaceuticals etc., especially in India, China, Japan (JAP), South Korea (KOR), Indonesia (IDN), Malaysia (MYT) Thailand(THA) Vietnam(VNM).
Growth Factors:
- Rising income levels of consumers in developing countries is expected to drive the demand for heating furnaces over the forecast period.
- Increasing awareness about energy-efficient heating furnaces is projected to propel the growth of this market during the forecast period.
- Growing popularity of smart homes is anticipated to boost the demand for heating furnaces in the near future.
- Proliferation of online retail platforms is expected to provide a significant impetus to this market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Heating Furnace Market Research Report
By Type
Combustion Type, Electric Type
By Application
Metallurgy, Petrochemical Industry, Material Handling, Other
By Companies
Andritz, Danieli, Tenova, ALD, Ipsen, Shenwu, SECO/WARWICK, Jiangsu Yanxin, Nachi-Fujikoshi, Changzhou Energy, Primetals Technologies, Aichelin Group, Inductotherm, CEC
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Heating Furnace Market Report Segments:
The global Heating Furnace market is segmented on the basis of:
Types
Combustion Type, Electric 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
Metallurgy, Petrochemical Industry, Material Handling, Other
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:
- Andritz
- Danieli
- Tenova
- ALD
- Ipsen
- Shenwu
- SECO/WARWICK
- Jiangsu Yanxin
- Nachi-Fujikoshi
- Changzhou Energy
- Primetals Technologies
- Aichelin Group
- Inductotherm
- CEC
Highlights of The Heating 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:
- Combustion Type
- Electric Type
- By Application:
- Metallurgy
- Petrochemical Industry
- Material Handling
- Other
- 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 Heating 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.
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 heating furnace is a device that uses heat to warm the air in a room. Heating furnaces are used in homes and businesses to heat the air.
Some of the major players in the heating furnace market are Andritz, Danieli, Tenova, ALD, Ipsen, Shenwu, SECO/WARWICK, Jiangsu Yanxin, Nachi-Fujikoshi, Changzhou Energy, Primetals Technologies, Aichelin Group, Inductotherm, CEC.
The heating furnace market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Heating Furnace Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Heating Furnace Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Heating Furnace Market - Supply Chain
4.5. Global Heating Furnace Market Forecast
4.5.1. Heating Furnace Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Heating Furnace Market Size (000 Units) and Y-o-Y Growth
4.5.3. Heating Furnace Market Absolute $ Opportunity
5. Global Heating Furnace Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Heating Furnace Market Size and Volume Forecast by Type
5.3.1. Combustion Type
5.3.2. Electric Type
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Heating Furnace Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Heating Furnace Market Size and Volume Forecast by Application
6.3.1. Metallurgy
6.3.2. Petrochemical Industry
6.3.3. Material Handling
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Heating Furnace Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Heating Furnace Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Heating Furnace Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Heating Furnace Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Heating Furnace Demand Share Forecast, 2019-2026
9. North America Heating Furnace Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Heating Furnace Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Heating Furnace Market Size and Volume Forecast by Application
9.4.1. Metallurgy
9.4.2. Petrochemical Industry
9.4.3. Material Handling
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Heating Furnace Market Size and Volume Forecast by Type
9.7.1. Combustion Type
9.7.2. Electric Type
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Heating Furnace Demand Share Forecast, 2019-2026
10. Latin America Heating Furnace Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Heating Furnace Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Heating Furnace Market Size and Volume Forecast by Application
10.4.1. Metallurgy
10.4.2. Petrochemical Industry
10.4.3. Material Handling
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Heating Furnace Market Size and Volume Forecast by Type
10.7.1. Combustion Type
10.7.2. Electric Type
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Heating Furnace Demand Share Forecast, 2019-2026
11. Europe Heating Furnace Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Heating Furnace Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Heating Furnace Market Size and Volume Forecast by Application
11.4.1. Metallurgy
11.4.2. Petrochemical Industry
11.4.3. Material Handling
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Heating Furnace Market Size and Volume Forecast by Type
11.7.1. Combustion Type
11.7.2. Electric Type
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Heating Furnace Demand Share, 2019-2026
12. Asia Pacific Heating Furnace Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Heating Furnace Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Heating Furnace Market Size and Volume Forecast by Application
12.4.1. Metallurgy
12.4.2. Petrochemical Industry
12.4.3. Material Handling
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Heating Furnace Market Size and Volume Forecast by Type
12.7.1. Combustion Type
12.7.2. Electric Type
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Heating Furnace Demand Share, 2019-2026
13. Middle East & Africa Heating Furnace Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Heating Furnace Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Heating Furnace Market Size and Volume Forecast by Application
13.4.1. Metallurgy
13.4.2. Petrochemical Industry
13.4.3. Material Handling
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Heating Furnace Market Size and Volume Forecast by Type
13.7.1. Combustion Type
13.7.2. Electric Type
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Heating Furnace Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Heating Furnace Market: Market Share Analysis
14.2. Heating Furnace Distributors and Customers
14.3. Heating Furnace Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Andritz
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Danieli
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Tenova
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. ALD
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Ipsen
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Shenwu
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SECO/WARWICK
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Jiangsu Yanxin
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Nachi-Fujikoshi
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Changzhou Energy
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Primetals Technologies
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Aichelin Group
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Inductotherm
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. CEC
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
