NEW YORK, Dec. 17, 2018 /PRNewswire/ -- Report Scope:
This study reviews industrial furnace technology categories, along with relevant market and production information, technological descriptions and issues, and applications and market factors and potential, and provides an overview of relevant incentives and regulations in major global markets.This study will be of interest to current and potential manufacturers and suppliers of industrial furnaces, entrepreneurs and entrepreneurial companies interested in entering or expanding into the industrial furnace technology sector.
Read the full report: https://www.reportlinker.com/p05658130
It will also be of interest to corporate planners and strategists; furnace research and development strategists; engineering, procurement and contracting (EPC) firms involved in the development and installation of large industrial furnaces; furnace industry groups; and other public- and private-sector interest groups and market analysts. Specific furnace technologies and applications included in this study are summarized in two charts below.
The data presented are agnostic of fuel and include furnaces powered by electricity, as well as by fossil fuels and alternative fuels as relevant. The market analysis provided in this report is based on various data sources, including the most recent government, industry and corporate data on industrial furnace sales, production, imports and exports; manufacturing and industrial productivity data used to help gage historic and anticipated future market growth; data generated by recent and ongoing research and development efforts aimed at identifying new and developing niches for certain classes of industrial furnaces and potential for associated growth; and available corporate project announcements for major industrial furnace installations.
Furnace technology advances can be characterized by incremental change rather than by industry-shaping leaps.Nonetheless, emerging industrial furnace technologies that may become commercially viable within the next five years are summarized, but they are not included in the market assessment of this report.
BCC Research analyzes each major viable industrial furnace technology, determines its current market status, examines its impact on future markets and presents forecasts for growth through 2023.Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry.
Sales of both new and replacement or retrofit furnaces are considered.
BCC Research analyzes the industrial furnace industry on a global basis in terms of its manufacturing and the deployment of its technologies or products. BCC Research also examines key market drivers and headwinds, along with their roles in driving or throttling the global industrial furnace market.
Report Includes:
- 56 data tables and 49 additional tables
- An overview of the global markets for industrial furnaces
- Analyses of global market trends, with data from 2017 to 2018, and projections of CAGRs through 2023
- Information on various industrial furnace technologies, applications, and packaged versus engineered systems
- A look at the industrial furnace supply chain, industry trends, market factors, opportunities, key regulatory trends and recent developments
- Review of patents segmented by region, leading patent recipients, and technology
- Detailed profiles of the major market players, including Abbott Furnace, Baker Furnace Inc., C.I. Hayes, Honeywell, Ipsen, Siemens, and TEi-Struthers Wells
Summary
The global market for industrial furnaces, highly fragmented and exceptionally diverse, is currently advancing at a rapid pace in the face of global economic development combined with regional manufacturing trends and the influence of transitional technologies and systems. With a high rate of innovation and customization, the global industrial furnace industry is characterized by a wide array of niche markets that provide custom and semi-custom-tailored furnace solutions, along with a segment of increasingly standardized production-level and packaged type furnace systems. Herein, key regional and national technology-level and application-oriented opportunities for development will drive strong
growth in the industrial furnace market through 2023.
Key industry trends are driving this observed and anticipated growth.Specifically, pent-up demand in many advanced economies, particularly in Europe, is supporting a reinvigoration of those markets as has not been observed since prior to the Great Recession.
The advance of populism is also showing early signs of market impact, and in particular it is helping to drive more rapid growth in North America, a region that has been showing signs of revitalized industrial development since the natural gas fracking boom began nearly a decade ago.The Asia-Pacific economies are presented with an interesting transition, as Chinese growth will continue to anchor the region, whereas other emerging economies are expected to present new and formidable opportunities for growth in select industrial furnace applications.
At the application level, most industrial furnace applications considered here are expected to show moderate to strong growth through 2023. Nonetheless, certain industrial furnace applications affected by new sources of competition from advanced manufacturing techniques are expected to decline through 2023, particularly in advanced economies, including the U.S. and much of Europe.
Industrial furnaces, defined here as "industrial heating systems capable of producing temperatures of at least 400°C," are integral to a wide array of industrial processes and applications considered in this study, including metals and metallurgy, calcining, ceramics production, glass production, chemicals and petrochemicals, curing and forming, additive manufacturing and other industrial furnace applications.These applications are served by five key technological categories considered in the scope of the study, which include electric resistance furnaces, electric induction furnaces, natural gas-fired furnaces, petroleum coke- and coal-fired furnaces, and furnaces fired by other fuels.
The full study also provides regional- and national-level breakdowns for North America (U.S. and Canada), Europe (e.g., Germany, U.K., France, Italy, Rest of Europe) and the Asia-Pacific region (e.g., China, India, Japan, South Korea, Rest of Asia-Pacific).
The total global market for industrial furnaces will advance from $REDACTED billion in 2017 to an anticipated $REDACTED billion by the end of 2018.By 2023, the global market will advance at a considerable rate to $REDACTED billion at a strong global compound annual growth rate (CAGR) of REDACTED %.
Summaries for electric furnacesand fuel-fired furnaces illustrate stronger growth and larger market values in the fuel-fired furnace segment.Herein, market values for fuel-fired boilers will advance from $REDACTED billion in 2017 to $REDACTED billion in 2018, and then further accelerate to nearly $REDACTED billion in 2023, equivalent to a CAGR of REDACTED %.
Markets for electric furnaces will advance from $REDACTED billion in 2017 to $REDACTED billion in 2018, and then ultimately to $REDACTED billion in 2023, equivalent to a moderate REDACTED % CAGR.
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