Induction furnace is an electrical furnace that facilitates melting of metal using induction heating. It is an energy-efficient and easily-controlled melting process, based on the heating effect of the electromagnetic field.
A typical induction furnace comprises inductor coil, shell, crucible, and cooling system, and a tilting mechanism for pouring the molten metal. The inductor coil generates magnetic flux as alternating current passes through it. It is the magnetic flux that creates the heating effect inside the furnace.
This report contains market size and forecasts of Electric Induction Furnace in global, including the following market information:
Global Electric Induction Furnace Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Electric Induction Furnace Market Sales, 2017-2022, 2023-2028, (K Units)
Global top five Electric Induction Furnace companies in 2021 (%)
The global Electric Induction Furnace market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Induction Melting Furnace Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Electric Induction Furnace include OTTO JUNKER, Inductotherm Group, ABP Induction Systems, ECM Technologies, Electrotherm, EFD Induction, SMS, Ajax Tocco and Indotherm, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Electric Induction Furnace manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Electric Induction Furnace Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Electric Induction Furnace Market Segment Percentages, by Type, 2021 (%)
Induction Melting Furnace
Induction Heating Furnace
Global Electric Induction Furnace Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Electric Induction Furnace Market Segment Percentages, by Application, 2021 (%)
Non-Ferrous
Ferrous
Specialty Melting
Global Electric Induction Furnace Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Electric Induction Furnace Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Electric Induction Furnace revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Electric Induction Furnace revenues share in global market, 2021 (%)
Key companies Electric Induction Furnace sales in global market, 2017-2022 (Estimated), (K Units)
Key companies Electric Induction Furnace sales share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
OTTO JUNKER
Inductotherm Group
ABP Induction Systems
ECM Technologies
Electrotherm
EFD Induction
SMS
Ajax Tocco
Indotherm
Megatherm
Ningbo Haishun Electronic Co., Ltd
Ningbo Shenguang Electric Furnace Co., Ltd
Retech Systems LLC
Hebei YUANTUO
Dai-ichi Kiden Co.,Ltd
Jinlai Electromechanical
Agni Electrical
Shenzhen Shuangping