The Induction Furnace Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Induction Furnace Market?
The size of the induction furnace market has been expanding significantly over the years. It is forecasted to increase from $1.21 billion in 2024 to $1.29 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Induction Furnace Industry?
The Induction Furnace Global Market is projected to reach a market size of $1.7 billion in 2029, with a compound annual growth rate (CAGR) of 7.1%.
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What are the Key Growth Drivers Fueling the Induction Furnace Market?
The key drivers in the induction furnace market are:
• Rapid industrialization driving demand
• Growth of the automotive market supporting furnace use
• Expansion of the aerospace industry requiring more induction furnaces
• Rising global demand for steel and copper accelerating market growth
Global Market Segmentation: Identifying Major Induction Furnace Industry Segments
The induction furnace market covered in this report is segmented –
1) By Type: Coreless Induction Furnace, Channel Induction Furnace
2) By Furnace Capacity: Up To 1 Ton, 1-100 Ton, More Than 100 Ton
3) By End-Use Industries: Steel, Copper, Aluminium, Zinc, Other End-Use Industries
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What are the Emerging Trends Shaping the Future of the Induction Furnace Market?
The key trends in the induction furnace market are:
• The integration of automation and IoT in induction furnaces is a major emerging trend.
• There is a growing trend towards the development of compact and portable induction furnaces.
• The adoption of green technologies is becoming increasingly prevalent in the market.
• The use of induction stirring technology is on the rise.
Who Are the Top Competitors & Leading Players in the Induction Furnace Market?
Major companies in the induction furnace market are:
• Danieli Group
• SMS Group
• Tenova S.p.A
• Electrotherm Limited
• IHI Group
• Meltech Ltd.
• ABP Induction Systems
• Inductotherm Group
• JP Steel Plantech Co.
• ECM Technologies
• Indotherm Equipment Corporation
• Dongguan Jinlai Electromechanical Device Co. Ltd.
• Guangzhou Durowelder Limited
• Shandong Huaxin Electric Furnace Co. Ltd.
• Xi'an Abundance Electric Technology Co. Ltd.
• EFD Induction Ltd
• Consarc Engineering Ltd
• Wallwork Group
• eldec Induction GmbH
• Inductoheat Europe GmbH
• PIOMA-ODLEWNIA S.A
• Electrometalurgica S.A.
• Pillar Induction
• ESC Induction
• AMLET
• EMSCO Inc.
• Ajax Tocco Magnethermic
• Amir Industrial Equipments
• Iran Industrial Furnaces
• Cerefco
• MUR Industries CC
• Induction Technology Corporation
• GH Induction group
• TermiSoluciones SAS
• Thermochem Furnaces Pvt. Ltd
• ELTERMA S.A
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the induction furnace market in 2024
