Market Overview:
The Global Induction Melting Furnaces Market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth is attributed to the increasing demand for induction melting furnaces from various end-use industries, such as automotive industry, mechanical engineering, energy industry, construction industry and others. In terms of type, the market is segmented into below 10 tons capacity, 10-30 tons capacity, 30-50 tons capacity and above 50 tons capacity segments. Among these segments, the above 50 tons capacity segment is expected to witness highest growth during the forecast period owing to increase in demand for high-capacity induction melting furnaces from various end-use industries. In terms of application, the market is divided into automotive industry sector (including passenger cars and commercial vehicles), mechanical engineering sector (including machine tools and heavy machinery), energy industry sector (including oil & gas refineries and power generation plants), construction industry sector (including building & construction materials) and other sectors (include medical devices). Among these applications sectors Automotive Industry Sector accounted for largest share in 2017 due to growing demand for automobiles across different regions globally.
Product Definition:
An induction melting furnace is an electrical furnace that melts metal by heating it with electromagnetic fields. The advantage of induction melting over other methods such as gas or electric arc melting is that the heat is applied more uniformly, so the molten metal is less likely to form dross or inclusions.
Capacity: Below 10 Tons:
Capacity:Below 10 Tons, it's usage.
The global Capacity:Below 10 Tons, it's usage and growth factor in the Induction Melting Furnaces market size was valued at USD 0.01 billion in 2015.
Capacity: 10-30 Tons:
Capacity: 10-30 Tons is used in Induction Melting Furnaces for the production of steel. The product has a wide range of applications such as construction, automotive, and consumer goods industries. It also finds its usage in ferrous processing units such as foundry sand molds and die casting machines among others.
Application Insights:
The automotive industry accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growing demand for lightweight materials has led to an increase in the usage of induction melting furnaces in this sector. In addition, increasing investments by foreign companies in India and China are likely to contribute towards growth.
In mechanical engineering, these devices are used for manufacturing precision machined components that meet high standards of finish and accuracy. They also find applications where a high level of automation is required along with a consistent production rate such as medical equipment & robotic systems across various end-use industries such as energy, construction, etc. Furthermore, they melt metal alloys at temperatures suitable for hardening or tempering which improves their ductility & plasticity properties making them more durable than conventional steel alloys used previously.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of increasing foreign investments coupled with rising industrial output. China, India, Japan, South Korea are some of the major countries that form Asia Pacific region.
The demand for induction melting furnaces in Europe is expected to witness significant growth over the forecast period owing to growing automotive industry and mechanical engineering sector in Germany, Italy and France among other countries. In addition, high investment by governments for research & development activities will boost product demand further over the coming years as these products are used for producing metals from scraped materials at a relatively low cost as compared to their raw material costs thus making them suitable for replacing conventional sources such as mining or smelting which results into increased metal production thereby driving regional market growth.
Growth Factors:
- Increasing demand for lightweight and high-strength materials in automotive and aerospace industries
- Growing popularity of electric vehicles, which require lighter and stronger metals for manufacturing
- Rapid expansion of the construction sector in developing countries
- Rising demand from the foundry industry for producing small, intricate metal parts
- Technological advancements that have led to the development of more energy-efficient induction melting furnaces
Scope Of The Report
Report Attributes
Report Details
Report Title
Induction Melting Furnaces Market Research Report
By Type
Capacity: Below 10 Tons, Capacity: 10-30 Tons, Capacity: 30-50 Tons, Capacity: Above 50 Tons
By Application
Automotive Industry, Mechanical Engineering, Energy Industry, Construction Industry, Other
By Companies
Inductotherm Group, Amelt Corporation, ECM Technologies, Electrotherm, ABP Induction Systems, Magnalenz, Carant S.r.l., Autotherm Equipments, MIT, Corroco International Industrial
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Induction Melting Furnaces Market Report Segments:
The global Induction Melting Furnaces market is segmented on the basis of:
Types
Capacity: Below 10 Tons, Capacity: 10-30 Tons, Capacity: 30-50 Tons, Capacity: Above 50 Tons
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
Automotive Industry, Mechanical Engineering, Energy Industry, Construction Industry, 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:
- Inductotherm Group
- Amelt Corporation
- ECM Technologies
- Electrotherm
- ABP Induction Systems
- Magnalenz
- Carant S.r.l.
- Autotherm Equipments
- MIT
- Corroco International Industrial
Highlights of The Induction Melting Furnaces 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:
- Capacity: Below 10 Tons
- Capacity: 10-30 Tons
- Capacity: 30-50 Tons
- Capacity: Above 50 Tons
- By Application:
- Automotive Industry
- Mechanical Engineering
- Energy Industry
- Construction Industry
- 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 Induction Melting Furnaces 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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- Understanding Competition Scenario
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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 melting furnaces are a type of electric furnace that uses an induction coil to heat the metal. The coil creates a magnetic field that causes the metal to heat up quickly. This allows the furnace to melt metals faster than traditional gas or oil furnaces.
Some of the major players in the induction melting furnaces market are Inductotherm Group, Amelt Corporation, ECM Technologies, Electrotherm, ABP Induction Systems, Magnalenz, Carant S.r.l., Autotherm Equipments, MIT, Corroco International Industrial.
The induction melting furnaces market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Induction Melting Furnaces 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. Induction Melting Furnaces Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Induction Melting Furnaces Market - Supply Chain
4.5. Global Induction Melting Furnaces Market Forecast
4.5.1. Induction Melting Furnaces Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Induction Melting Furnaces Market Size (000 Units) and Y-o-Y Growth
4.5.3. Induction Melting Furnaces Market Absolute $ Opportunity
5. Global Induction Melting Furnaces 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. Induction Melting Furnaces Market Size and Volume Forecast by Type
5.3.1. Capacity: Below 10 Tons
5.3.2. Capacity: 10-30 Tons
5.3.3. Capacity: 30-50 Tons
5.3.4. Capacity: Above 50 Tons
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Induction Melting Furnaces 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. Induction Melting Furnaces Market Size and Volume Forecast by Application
6.3.1. Automotive Industry
6.3.2. Mechanical Engineering
6.3.3. Energy Industry
6.3.4. Construction Industry
6.3.5. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Induction Melting Furnaces 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. Induction Melting Furnaces 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 Induction Melting Furnaces 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. Induction Melting Furnaces 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 Induction Melting Furnaces Demand Share Forecast, 2019-2026
9. North America Induction Melting Furnaces 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 Induction Melting Furnaces 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 Induction Melting Furnaces Market Size and Volume Forecast by Application
9.4.1. Automotive Industry
9.4.2. Mechanical Engineering
9.4.3. Energy Industry
9.4.4. Construction Industry
9.4.5. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Induction Melting Furnaces Market Size and Volume Forecast by Type
9.7.1. Capacity: Below 10 Tons
9.7.2. Capacity: 10-30 Tons
9.7.3. Capacity: 30-50 Tons
9.7.4. Capacity: Above 50 Tons
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 Induction Melting Furnaces Demand Share Forecast, 2019-2026
10. Latin America Induction Melting Furnaces 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 Induction Melting Furnaces 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 Induction Melting Furnaces Market Size and Volume Forecast by Application
10.4.1. Automotive Industry
10.4.2. Mechanical Engineering
10.4.3. Energy Industry
10.4.4. Construction Industry
10.4.5. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Induction Melting Furnaces Market Size and Volume Forecast by Type
10.7.1. Capacity: Below 10 Tons
10.7.2. Capacity: 10-30 Tons
10.7.3. Capacity: 30-50 Tons
10.7.4. Capacity: Above 50 Tons
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 Induction Melting Furnaces Demand Share Forecast, 2019-2026
11. Europe Induction Melting Furnaces 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 Induction Melting Furnaces 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 Induction Melting Furnaces Market Size and Volume Forecast by Application
11.4.1. Automotive Industry
11.4.2. Mechanical Engineering
11.4.3. Energy Industry
11.4.4. Construction Industry
11.4.5. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Induction Melting Furnaces Market Size and Volume Forecast by Type
11.7.1. Capacity: Below 10 Tons
11.7.2. Capacity 10-30 Tons
11.7.3. Capacity: 30-50 Tons
11.7.4. Capacity: Above 50 Tons
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 Induction Melting Furnaces Demand Share, 2019-2026
12. Asia Pacific Induction Melting Furnaces 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 Induction Melting Furnaces 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 Induction Melting Furnaces Market Size and Volume Forecast by Application
12.4.1. Automotive Industry
12.4.2. Mechanical Engineering
12.4.3. Energy Industry
12.4.4. Construction Industry
12.4.5. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Induction Melting Furnaces Market Size and Volume Forecast by Type
12.7.1. Capacity: Below 10 Tons
12.7.2. Capacity: 10-30 Tons
12.7.3. Capacity: 30-50 Tons
12.7.4. Capacity: Above 50 Tons
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 Induction Melting Furnaces Demand Share, 2019-2026
13. Middle East & Africa Induction Melting Furnaces 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 Induction Melting Furnaces 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 Induction Melting Furnaces Market Size and Volume Forecast by Application
13.4.1. Automotive Industry
13.4.2. Mechanical Engineering
13.4.3. Energy Industry
13.4.4. Construction Industry
13.4.5. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Induction Melting Furnaces Market Size and Volume Forecast by Type
13.7.1. Capacity: Below 10 Tons
13.7.2. Capacity: 10-30 Tons
13.7.3. Capacity: 30-50 Tons
13.7.4. Capacity: Above 50 Tons
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 Induction Melting Furnaces Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Induction Melting Furnaces Market: Market Share Analysis
14.2. Induction Melting Furnaces Distributors and Customers
14.3. Induction Melting Furnaces Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Inductotherm Group
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Amelt Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. ECM Technologies
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Electrotherm
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ABP Induction Systems
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Magnalenz
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Carant S.r.l.
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Autotherm Equipments
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. MIT
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Corroco International Industrial
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
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
