Patrocinado

The Melting Induction Furnace Market is Anticipated to Post 5.6% CAGR by 2032

0
3KB

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

 

 

 

 

Patrocinado
Patrocinado
Pesquisar
Patrocinado
Categorias
Leia mais
Outro
North America Tomato Pastes and Purees Market Growth Opportunities, Key Drivers and Competitive Outlook
North America Tomato Pastes and Purees Market, By Product (Tomato Pastes and Tomato Purees),...
Por dbmrmarket 2025-06-30 06:35:51 0 1KB
Outro
Digital Storage Devices Market Analysis Growing Industry To 2033
According to the Market Statsville Group (MSG), the Global Digital Storage Devices...
Por Harshsingh 2025-04-25 11:30:40 0 2KB
Networking
Artificial Insemination Market Worth US$ 3,677.9 million by 2030
The global artificial insemination market size was USD 1,929.2 million in...
Por vipinmsg 2023-06-02 07:32:36 0 6KB
Outro
Emergency Shutdown System Market Analysis by Size, Share, Growth, Trends and Forecast (2023-2030) | UnivDatos
The emergency shutdown system (ESD) market is experiencing significant growth, driven by a...
Por ahasanumi 2025-01-03 07:20:32 0 2KB
Outro
Fraud Detection and Prevention Market Growth Analysis Report 2022 to 2030
Fraud Detection and Prevention Market overview Recently the rising fraud in different...
Por Trending_Technology 2023-03-08 07:15:01 0 7KB
Patrocinado
TikTikTalk https://tiktiktalk.com