If you are new to TikTikTalk ? Your first verification mail might be in your spam folder.Check there and move it to your inbox to complete registration or account verification process..
Sponsor
sociofans

APAC to Foster the Global Induction Furnace Market

0
2K

Global Induction Furnace Market Overview

According to Market Research Future (MRFR), The Melting Induction Furnace Market is expected to cross USD 1.5 Billion at a CAGR of 5.6% from 2023 - 2032 (forecast period). The report presents the COVID-19 review of the global induction furnace market and provides a rigorous illustration of market segments, emerging developments, growth forecasts, and market challenges.

Induction furnaces provide a clean, energy-efficient, and controllable melting process and are commonly used in the production of steel, copper, and aluminum. Induction furnaces use convection current to achieve the melting point of these metals, thereby utilizing less energy than other furnaces that typically fire at higher temperatures than those needed to melt the metals.

Get the sample copy of report here

Key Players

Notable players in the global induction furnace industry are

·       Electrotherm

·       Danieli

·       Doshi Technologies Pvt. Ltd

·       SMS Elotherm GmbH

·       Meltech Ltd

·       Tenova SpA

·       IHI Machinery and Furnace Co., Ltd

·       ECM Technologies

·       Agni Electrical Pvt. Ltd

·       JP Steel Plantech Co.

·       Pees Induction Equipment’s Pvt. Ltd

·       Magnalenz

Market Dynamics

The increasing railroad industry, along with a higher demand for mining, smelting, and metal alloy machinery, contributes to the growth of the induction furnace industry. Steel and copper production is shifting from conventional bases in North America and Europe to fast-growing economies in Asia like India, China, and Bangladesh. The establishment of new plants is also a significant driver of market growth.

Industry/ Innovation/ Related News: 

August 05, 2020 ---- SS Steel Ltd. (Bangladesh), announced the acquisition of its competitor producer Saleh Steel in a deal worth USD 2.86 MN to boost the production capacity. Saleh Steel has a steelmaking capacity of 84,000 tonnes per year from an induction furnace in Chattogram province.

SS Steel also produces steel billet from an induction furnace, which consumes scrap and sponge iron and then rolls the billet using a bar mill made in Italy. The company also revealed its plans to invest further in the "smooth running" of the Saleh plant.

Market Segmentation

The global induction furnace market has been segmented into type, furnace capacity, and industry vertical. 

By Type    : Coreless Induction Furnace, Channel Induction Furnace, and others.

By Furnace Capacity: Up to 1 Ton, 1–100 Ton, and More than 100 Ton.

By Industry Vertical: Steel, Aluminum, Copper, and others.

By Regions              :  Europe, North America, APAC, and Rest-of-the-World.

Explore trending research reports@

Cutting Equipment Market

Laser Cutting Machines Market

Heating, Ventilation and Air Conditioning (HVAC) Market

Water and Wastewater Treatment Equipment Market

 

Sponsor
Sponsor
Zoeken
Sponsor
Categorieën
Read More
Networking
Geothermal Exploration Market Growth Projections Updated for 2030
Geothermal Exploration Market Overview Maximize Market Research, a Geothermal...
By sandipmaximize 2024-12-17 13:00:57 0 2K
Other
Shadow Banking Market 2024-2032 | Size, Trends, Share, Growth And Industry Demand
Shadow Banking Market offers a comprehensive analysis of the current market status of Shadow...
By brireport 2024-04-24 06:54:22 0 3K
Other
Procurement Software Market Size, Share | Growth [2032]
Procurement Software Market Overview: The procurement software market is a vital component of...
By Trending_Technology 2024-10-31 05:37:53 0 1K
Other
Online Sports Coach Market size is expected to grow to USD 1,881.5 million by 2033
According to the Market Statsville Group (MSG), the global online sports coach...
By marketstatsvillegroup 2023-05-10 09:12:35 0 5K
Other
Middle East Solid State Transformer Market Analysis by Size, Share, Growth, Trends, Opportunities and Forecast (2024-2032) | UnivDatos Market Insights
Middle Eastern countries have been famous for their oil and gas resources, however, existing...
By univdatos123 2024-12-09 11:14:04 0 1K
Sponsor