Industrial Furnaces Market Worth $16,996.5 Million by 2026 | Covid-19 Impact With Competitive Analysis
The recurring demand for iron and steel in conjunction with other major materials and metals is fueling the market for industrial furnaces.
PORTLAND, OR, UNITED STATES, Aug 25, 2021 /EINPresswire.com/ – The demand for metals has increased among many end users, including railways, buildings, automobiles, bridges, metallurgy, and ornaments, and others. This requires more industrial equipment to meet the growing demand, which in turn confirms that there is tremendous demand for industrial furnaces from companies around the world.
The global market for industrial furnaces grew to 10,958.5 million in 2018.
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In addition, the manufacturers of industrial furnaces have implemented various technological advancements on the furnaces that have been developed in recent years. These emerging technologies like IIoT and others are expected to offer lucrative growth opportunities for the market during the forecast period.
The increasing demand for high-performance, energy-efficient and low-emission vehicles is driving the global growth of the industrial furnace market. In addition, the surge in investment in the construction industry and an increase in the manufacturing machine industry are stimulating the growth of the industrial furnace market. On the other hand, the instability of raw material prices is likely to hamper market development.
Top 10 leading players
Carbolite Gero Limited
Epcon Industrial Systems, LP
Gas Barre Products, Inc.
International Thermal Systems LLC
Ipsen International GmbH
SECO / WARWICK SA
Thermal product solutions
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Important market segments
According to furnace type
Gas / fuel-powered industrial furnace
Electrically operated industrial furnace
Pipe or clamshell type
Floor loading & car floor oven
Top loading oven
According to end user
Metals & Mining
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August 25, 2021, 04:23 GMT
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