Industrial Ovens Global Strategic Business Report 2024 - Rising Prominence of Infrared Heating Ovens in Industrial Process Heating Applications
Saturday, March 30, 2024
DUBLIN, March 28, 2024 /PRNewswire/ -- The "Industrial Ovens - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
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The global market for Industrial Ovens estimated at US$10.8 Billion in the year 2023, is projected to reach a revised size of US$14.8 Billion by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030.
Curing Ovens, one of the segments analyzed in the report, is projected to record 3.9% CAGR and reach US$5.3 Billion by the end of the analysis period. Growth in the Drying Ovens segment is estimated at 4.4% CAGR for the next 8-year period.
The Industrial Ovens market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3 Billion by the year 2030 trailing a CAGR of 5.2% over the analysis period 2023 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Key Market Trends and Drivers:
-- Industrial Ovens Market: Industrialization to Drive Market Growth
-- Industrial Drying Ovens: Benefiting from Rapid Pace of Technology
Developments
-- Customized Industrial Ovens Gain Rapid Market Acceptance
-- Rising Prominence of Infrared Heating Ovens in Industrial Process
Heating Applications
-- Energy Efficient Industrial Ovens Enable Cost Optimization, Driving
Adoption among Manufacturers
-- Replacement of Older Furnaces and Ovens with Advanced Equipment: A
Potential Market Opportunity
-- Rising Industrial Automation Trend to Fuel Growth
-- Rising CAPEX Spending on Plant Automation to Benefit Demand for
Industrial Ovens
-- Increasing Need for Integrating Automated Systems Fuels Demand for
Industrial Ovens
-- Leveraging Industry 4.0 and IIoT for Development of Smart Industrial
Ovens
-- Emergence of AI Ovens
-- Industrial Ovens Hold Tremendous Potential in Enhancing Quality of
3D-Printed Products
-- Sustained Rise in Demand for Convenience and Packaged Foods to Fuel
Growth
-- Food Consumption Patterns to Influence Market Prospects
-- Pandemic Spurs Demand for Packaged Food & Beverages
-- Encouraging Outlook for Automobile Production Despite Disruptions, Bodes
Well for the Growth of Industrial Ovens
-- Encouraging Recovery in Automobile Production, Notwithstanding the Many
Challenges, Offers Hope for Players in the Value Chain Including
Manufacturers of Industrial Ovens
-- Growing Focus on Electric Technologies Augments Demand for Automotive
Electronics
-- Connected Cars on the Rise, Bodes Well for the Market
-- Rising Industry Focus on Engineering of Light Weight Vehicles Pushes
Demand for Advanced Engineering Capabilities
-- Industrial Oven Engineering Services Gain as Automotive OEMs Strengthen
R&D Spending
-- Rise in Aircraft Fleet to Support Demand for Industrial Ovens
-- Rising Demand from the Pharmaceutical and Medical Sector Lends Traction
to Market Growth
-- Laboratory Ovens Continue to Gain Prominence
-- Vacuum Ovens Present a Sizzling Hot Proposition to Labs for Diverse
Applications
-- Rising R&D Investments by Pharmaceutical & Biopharmaceutical Industry to
Fuel Market Growth
-- Commercial Ovens Market: An Overview
-- Increasing Rate of Industrialization and Urbanization Catapults Growth
of the Industrial Ovens Market
The report covers 235 key competitors in the industry.
A selection of featured companies include:
-- Abbott Furnace Company
-- Acim Jouanin SA
-- AET Technologies
-- AFC-Holcroft
-- Aichelin Ges.m.b.H.
-- Airflow World Group Ltd.
-- Airtec Thermoprocess GmbH
-- Ajax Tocco Magnethermic Corporation
-- ALD Vacuum Technologies GmbH
-- ALMOR Group
Key Report Features
-- Full access to influencer engagement stats
-- Free access to digital archives & research platform. The proprietary
platform is fully enabled to unlock creativity and market knowledge of
domain experts worldwide in a cohesive and collaborative manner. The
state-of-art tools bring world class market perspectives while
protecting participants` privacy and identity. Numbers, statistics and
market narrative in the report are based on fully curated insights
shared by domain experts and influencers in this space.
-- Opportunity to engage with interactive questionnaires that come with
real-time data simulator tools & bespoke report generation capabilities
-- Full client access to peer collaborative and interactive platform for
cross-enterprise smart exchange of ideas
-- Complimentary report updates for one year
-- Competitor coverage with global market shares of major players
-- Player market presence analysis (Strong/Active/Niche/Trivial) across
multiple geographies
-- Access to curated YouTube video transcripts of domain experts/influencer
interviews, podcasts, press statements and event keynotes
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
-- Global Economic Update
-- Although Declining for the First Time Since the Russia-Ukraine War,
Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn
Will Take Inflation Longer Than Expected to Fall: Global Average Annual
Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
-- Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected
Problem to Solve in 2023: Global Inflation Rates (In %) for the Years
2019 through 2024
-- Global Economy Slowly Limps Towards Recovery, Resiliently Navigating the
War & Decades-High Inflation: World Economic Growth Projections (Real
GDP, Annual % Change) for the Years 2020 Through 2024
-- Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in
Unemployment Rates: Global Number of Unemployed People (In Million) for
Years 2019 Through 2024
-- Competitive Scenario
-- Industrial Ovens - Global Key Competitors Percentage Market Share in
2023 (E)
-- Competitive Market Presence - Strong/Active/Niche/Trivial for Players
Worldwide in 2023 (E)
-- Select Innovations
-- Global Market Prospects & Outlook
-- End-Use Dynamics Influence Trends in the Industrial Ovens Market
-- Industrial Ovens Eyeing to Become More Energy-Efficient and
Technologically Advanced
-- Analysis by Product Type
-- Analysis by Process
-- Analysis by End-Use
-- Regional Analysis
-- Heating Up Production by Baking Product Performance & Reliability: A
Prelude to Industrial Ovens
-- How Do Industrial Ovens Operate?
-- Industrial Ovens: Comparison of Key Categories
-- Industrial Ovens versus Industrial Furnaces
-- Standard Types of Industrial Ovens
-- Applications & Uses of Industrial Ovens
-- Recent Market Activity
-- Influencer Market Insights
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
-- United States
-- Canada
-- Japan
-- China
-- Europe
-- France
-- Germany
-- Italy
-- United Kingdom
-- Spain
-- Russia
-- Rest of Europe
-- Asia-Pacific
-- Australia
-- India
-- South Korea
-- Rest of Asia-Pacific
-- Latin America
-- Argentina
-- Brazil
-- Mexico
-- Rest of Latin America
-- Middle East
-- Iran
-- Israel
-- Saudi Arabia
-- United Arab Emirates
-- Rest of Middle East
-- Africa
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/yzo2hh
About ResearchAndMarkets.com
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