Robust Demand from Developing Countries Drives the Global Industrial Furnaces and Ovens Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Industrial Furnaces and Ovens markets. Global market for Industrial Furnaces and Ovens is forecast to reach US$13.8 billion by 2020, buoyed by the revival of the global economy and strong demand from end-use sectors such as automotive, railroad, aerospace, metals, construction, machinery, and medical, among others.

Industrial Furnaces and Ovens: A Global Strategic Business Report

Follow us on LinkedIn – As reliable and effective heat treatment solutions, industrial furnaces and ovens are used for various applications such as normalizing, annealing, soft annealing, carburizing, carbonitriding, stress relieving, recrystallization, drying and cooling, welding, pre-heating, post heat treatment, hardening of glued products, and vulcanization of plastics. Industrial furnaces and ovens are used widely for heat treatment applications in the manufacture of metal components, chemicals and glass. Key product attributes essential for the commercial success of industrial furnaces and ovens include superior performance, reliability, and efficiency.

Steel manufacturing represents the largest end-use market for industrial furnaces. Growing demand for annealed or softened steel tubes in precision mechanical tubing used in hydraulic cylinders and bearings production is benefiting demand for high volume continuous bright annealing furnaces. Increasing application of roller hearth furnaces, car-bottom furnaces, monorail heat treatment systems, batch furnaces, Tip-Up furnaces, and integral quench furnaces in the railroad industry for providing consistent and reliable heat treatment bode well for market growth. Also, the growing need for curing, sterilization, drying, and decontamination of medical devices will remain a major driving factor for industrial ovens in medical applications. Recovering construction activity in both developed as well as developing markets, increasing automotive production in developing markets, and increasing use of drying and infrared firing furnaces for the manufacture of very high efficiency solar cells represent other key growth drivers.

Continued advancements in production and processing technologies in the industrial sector are expected to contribute significantly to market demand in the coming. Relentless improvements in metal manufacturing techniques will also drive demand for advanced industrial grade furnaces and ovens. The market will continue to witness innovations in terms of designs, functionalities, and mode of heat transfer and heat recovery techniques. Technology advancements poised to benefit the market include the development of silicon carbide (SiC) production furnace, advanced induction furnace, glass tempering furnace, infinity ZR sintering furnace, mesh belt furnace, bell type furnace, and multi-purpose heat treatment furnace, among others.

As stated by the new market research report on Industrial Furnaces and Ovens, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 4.3% over the analysis period. As the global manufacturing hub, increased manufacturing activity, large pool of low-cost and skilled labor and close proximity to lucrative markets are providing a major boost to demand, particularly in China and India. Strong manufacturing activity, steady economic development, growing automotive production, increasing demand for and production of various production line machinery, and robust construction activity, represent other growth drivers in the region.

Key players covered in the report include AFC-Holcroft, Airtec Thermoprocess GmbH, AVS Inc., Beijing Shenwu Environment & Energy Technology Co., Ltd., Can-Eng Furnaces International Limited, Carbolite Limited, CERI Phoenix Industrial Furnace Co., Ltd., Consolidated Engineering Company, Despatch Industries, Dijko Ovens BV, Dowa Thermotech, Gasbarre Furnace Group, Grieve Corporation, Industrial Furnace Company, Ipsen, Lenton, Nachi-Fujikoshi Corp., Pyradia, Siemens VAI Metals Technologies GmbH, Solo Swiss Group, Tenova S.P.A, and Wisconsin Oven Corporation, among others.

The research report titled “Industrial Furnaces and Ovens: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in dollars for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil, and Rest of Latin America). Product segments analyzed in the report include Electrical Industrial Furnaces & Ovens (Electric Furnaces, Electric Ovens & Kilns, and Other Electric Furnaces & Ovens), Induction & Dielectric Furnaces & Ovens, Industrial Electric Heating Equipment, Fuel-Fired Industrial Furnaces & Ovens, and Other Industrial Furnaces & Ovens.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Industrial_Furnaces_and_Ovens_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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