Industrial Heat treatment furnaces are the heating chambers (refractory vessel) that hold the heat and steel stock. These vessels are heated with the help of fuel (coal, gas, or electricity). The industries determine the design of the furnace based on the stock of steel that is to be treated, and type of treatment that has to be carried out. Heat Treatment Furnace market will register a 3.0% CAGR in terms of revenue, the global market size will reach US$ 11300 million by 2028, from US$ 10200 million in 2019.

Top Driver: Rise in demand for heat treatment services will drive the market growth

A significant rise in demand for heat treatment services and equipment is majorly influenced by exponentially growing manufacturing industries, resulting in increased demand for iron making, and steel making facilities. The growth of heat treatment solutions and services is set to expand at a higher pace than other economic activities across the globe. increase in the adoption of machinery enabled with Industrial Internet of Things (IIoT) and equipped with temperature control sensors and POC analyzers and rise in investments in smart factories are anticipated to fuel the market for industrial ovens and furnaces in the next few years. Rising demand for fabricated metals in the automobile industry is anticipated to propel the global industrial ovens and furnaces market during the forecast period. Increase in the consumption of iron and steel in the infrastructure sector in developing countries is projected to propel the global industrial ovens and furnaces market in these countries in the near future.Technological advancements and increased demand for a wide range of processed metal products are some of the major factors estimated to boost the global industrial ovens and furnaces market in the next few years

Atmosphere to Make Crucial Contribution for Growth of Global Industrial Heat Treatment Furnaces

Ву tуре, thе market іѕ ѕеgmеntеd іntо Аtmоѕрhеrе Furnасеѕ, аnd Vасuum Furnасеѕ. Ву аррlісаtіоn, thе mаrkеt іѕ dіvіdеd іntо Меtаllurgісаl І nduѕtrу, Тrаnѕроrtаtіоn, аnd Оthеrѕ. The global heat treating equipment market can be segmented based on product type, metal processed, end-use industry, and region. Based on product type, the heat treating equipment market can be classified into fuel-fired furnace and electrically heated furnace. Based on metal processed, the heat treating equipment market can be segmented into ferrous metals and non-ferrous metal. Based on end-use industry, the global heat treating equipment market can be classified into aircraft, automobile, forging, foundry, and others (heavy machinery manufacturing, powder metal industry, etc.) Atmosphere segment will expected to grow in forecasting period. 

North America dominated to witness fastest growth in Global Industrial Heat Treatment Furnaces

Europe is expected to witness the maximum demand for industrial ovens and furnaces from 2019 to 2027. In terms of consumption, Europe is the leading region of the global industrial ovens and furnaces market. Additionally, Europe is a hub for the automotive industry, owing to presence of top automobile manufacturers with high production capacities such as BMW, Volvo, and Audi.

Asia Pacific is anticipated to be the rapidly expanding market for industrial ovens and furnaces between 2019 and 2027. This is primarily due to rapid industrialization in the region. Also, a few notable steelmaking plants are planning to start their projects in China and India in the next few years. This, in turn, is anticipated to fuel the demand for industrial ovens and furnaces in these countries of Asia Pacific in the near future.  Increase in the production of automobiles, rapid rise in construction activities, and increase in usage of drying and infrared firing ovens and furnaces are driving the market for industrial ovens and furnaces in Asia Pacific.

Players to Focus on Industrial Heat Treatment Furnaces.

Other major players operating in the global heat treatment furnace market include

• Inductotherm Corporation
• ALD
• Ipsen,
• Despatch
• SECO/WARWICK
• Nachi-Fujikoshi
• PVA TePla
• Cieffe(Accu)
• Mersen .

Andritz AG : Andritz AG is an Austria based company that develops industrial process and production system solutions for a range of specialized and standard products. The company’s operating business segments include hydro, pulp & paper, metals, separation, and feed & biofuel. The heat treatment furnace provided by the company is part of its metals business segment. The company operates globally through its subsidiaries.

Tenova S.p.A:  Tenova S.p.A. is an Italian company that designs and distributes a broad array of melt-shop equipment comprising of koster Lances, electric arc furnaces, and consteel continuous scrap feeding and pre-heating systems. The company was established in 1997 and operates worldwide with a wide brand portfolio. Tenova Pyromet, Tenova Nova, Tenova I2S, Tenova HYL, Tenova Italimpianti, and Tenova LOI Thermprocess are some of its prominent brands.

Scope of the Report

By Fuel Type

• Solid Fuels
• Liquid Fuels
• Gaseous Fuels
• Electricity

By Technology

• Atmosphere
• Vacuum

By Industry

• Metallurgy
• Transportation

 By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report 

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.