Report Scope & Overview:

The Induction Furnace Market Size was esteemed at USD 0.91 billion out of 2022 and is supposed to arrive at USD 1.43 billion by 2030, and develop at a CAGR of 5.7% over the forecast period 2023-2030.

Induction Furnace Market give a perfect, energy-effective, and controllable dissolving process and are normally utilized in the development of steel, copper, and aluminium. Induction furnace use convection current to accomplish the liquefying point of these metals, in this manner using less energy than different furnace that ordinarily fire at higher temperatures than those expected to dissolve the metals. Channel Induction furnace is shared with grandstand exceptional development rate during the figure time frame because of its higher electrical proficiency than coreless Induction furnace. On opposite, among end-use industry section, the steel portion is expected to see steady market development over the gauge period, ascribed to expanding reception of handled and refined steel across every single significant application.

Induction Furnace Market Revenue Analysis

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Induction furnace is an electrical furnace where the intensity is created by Induction intensity of the metal. Induction limits range from short of what one kilogram to 100 tons, and generally used to liquefy iron, steel, copper, aluminum and valuable metal. The primary benefit of the Induction furnace is a perfect, energy-proficient and well-controllable liquefying process contrasted with most different method for metal softening.

These electrical modern types of gear are getting some forward momentum across different metal assembling and metallurgy areas, attributable to their good credits, for example, sans oxidation item, clean, and all around controlled softening cycle in contrast with different method for metal dissolving. As, they work on sans smoke and energy-productive frameworks including an Induction curl, shifting types of gear for pouring liquid metal, and a cooling framework.

Ascribed to this, Induction furnace are progressively being taken on across iron and steel making, metal part fabricating, non-ferrous metal creation, aluminum producing, others. This is projected to expand the interest for Induction furnace in the worldwide market.

Market Dynamics:

Driving Factors:

  • The rising railroad industry

  • More appeal for mining, refining, and metal combination hardware

Restraining Factors:

  • Significant expense

  • Need for gifted work


  • The better presentation qualities of induction furnace, for example, quick warming rate, high creation proficiency, less decarbonization and decompression, saving materials and manufacturing bite the dust costs


  • Complex establishment cycle of induction furnace

Impact of Covid-19:

Coronavirus has spread all around the globe. The pandemic has decisively affected the aluminium market. Rising Covid cases have made organizations delayed down or even stop creation because of upset supply chains and diminished request. This situation has prompted a decrease in the utilization of induction furnace, which upsets the business' development. The elements moving the market's development incorporate the rising railroad area and high prerequisites for refining, mining, and metal amalgam hardware. By the by, because of the COVID-19 pandemic, most development projects have been delayed, and travel limitations have been forced. The rail business has had an emotional effect, which, thus, is likewise thwarting the development of the market for induction furnace. Because of the developing utilization of induction furnace for homegrown purposes, Europe holds the biggest portion of the worldwide market. What's more, the developing business sector for sustainable power additionally drives interest for copper, which thus, is expected to push the development of the induction furnace market after the lockdown period.

Market Estimations:

By Types:

Based on types, the induction furnace market has been bifurcated into coreless induction furnace and channel induction furnace. The coreless induction furnace fragment held a huge piece of the pie in 2021 and is expected to extend at impressive CAGR during the conjecture time frame because of expanding utilizations of coreless induction furnace in the steel business and copper industry. The coreless induction furnace involves the loops conveying electrical flow. A metallic charge comprising of pig iron, piece, and ferroalloys are normally liquefied in such a vessel. At the point when an electrical flow is applied to the curl, an attractive field shapes that thus produces nuclear power bringing about the dissolving of the charge.

By Application:

In light of Applications, the induction furnace market is separated into steel industry, copper industry, aluminium industry, and zinc industry. Steel Industry is supposed to be the most appealing fragment and expected to grow at a huge CAGR during the estimate time frame. The execution of induction furnace in the steel business has altogether expanded in the beyond couple of years. The expansion of new and trend setting innovations in induction furnace is supposed to fuel the market before long. Induction furnace is fundamental for limited scope metal producers. It is more modest in size than the electric curve furnace, and has low functional expenses. In addition, it is less exorbitant, which pursues the induction furnace the primary decision for limited scope organizations.

Key Market Segmentation:

By Types:

  • Coreless Induction Furnace

  • Channel Induction Furnace

By Applications:

  • Steel Industry

  • Copper Industry

  • Aluminium Industry

  • Zinc Industry

Induction Furnace Market Segmentation Analysis

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Regional Analysis:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Assuming we take a gander at Induction heater piece of the pie and different subtleties, this industry is strikingly working in five significant locales of the world that is Asia Pacific, Europe, North America, Latin America, Middle East, and Africa. During the conjecture time frame, the Asia Pacific area will overwhelm this market as this locale is the biggest maker of aluminium, zinc, steel, and others, which further requires acceptance heaters, on the planet. The North American locale will observer moderate development during the time of exploration as this market is now developed in this area yet the airplane business present will set out a few open doors for the development of this market around here. The European area, then again, will observer critical development as the development of the environmentally friendly power market is supporting the interest for copper which thusly is expanding the interest for these acceptance heaters around here.

Key Players:

Electrotherm, Danieli Group, SMS Elotherm GmbH, Meltech Ltd, Tenova SpA, Doshi Technologies Pvt. Ltd, IHI Machinery and Furnace Co., Ltd, JP Steel Plantech Co., ECM Technologies, Agni Electrical Pvt. Ltd, Pees Induction Equipment’s Pvt. Ltd, Magnalenz

Induction Furnace Report Scope:
Report Attributes Details
Market Size in 2022 US$ 0.91 Billion
Market Size by 2030 US$ 1.43 Billion
CAGR CAGR of 1.27 % From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Types (Coreless Induction Furnace and Channel Induction Furnace)
• By Applications (Steel Industry, Copper Industry, Aluminum Industry, and Zinc Industry)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Electrotherm, Danieli Group, SMS Elotherm GmbH, Meltech Ltd, Tenova SpA, Doshi Technologies Pvt. Ltd, IHI Machinery and Furnace Co., Ltd, JP Steel Plantech Co., ECM Technologies, Agni Electrical Pvt. Ltd, Pees Induction Equipment’s Pvt. Ltd, Magnalenz
DRIVERS • The rising railroad industry
• More appeal for mining, refining, and metal combination hardware
RESTRAINTS • Significant expense
• Need for gifted work

Frequently Asked Questions

 Ans: Types and Applications segments are covered in the Induction Furnace Market.

Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.

Ans: the Asia Pacific has the biggest offer in the Induction Furnace market.

Ans: Significant expense and Complex establishment cycle of induction furnaces are the restraining factor and challenges faced by the Induction Furnace market.

Ans: The Global Induction Furnace Market is supposed to arrive at USD 1.27 billion by 2028, and develop at a CAGR of 5.7% over the forecast period 2022-2028.

Table of Contents


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions


2. Research Methodology


3. Market Dynamics

3.1 Drivers          

3.2 Restraints

3.3 Opportunities

3.4 Challenges


4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World


5. Value chain analysis


6. Porter’s 5 forces model


7. PEST analysis


8. Global Induction Furnace Market segmentation, By Types

8.1 Coreless Induction Furnace

8.2 Channel Induction Furnace


9. Global Induction Furnace Market segmentation, By Applications

9.1 Steel Industry

9.2 Copper Industry

9.3 Aluminium Industry

9.4 Zinc Industry


10. Global Induction Furnace Market, by region/ country

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America


11. Company profiles

11.1 Electrotherm

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 Swot Analysis

11.1.4 The SNS View

11.2 Danieli Group

11.3 SMS Elotherm GmbH

11.4 Meltech Ltd

11.5 Tenova SpA

11.6 Doshi Technologies Pvt. Ltd

11.7 IHI Machinery and Furnace Co., Ltd

11.8 JP Steel Plantech Co.

11.9 ECM Technologies

11.10 Agni Electrical Pvt. Ltd

11.11 Pees Induction Equipment’s Pvt. Ltd

11.12 Magnalenz


12. Competitive Landscape

12.1 Competitive Bench Marking

12.2 Market Share Analysis

12.3 Recent Developments


13. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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