DUBLIN, March 28, 2024 /PRNewswire/ — The “Industrial Ovens – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
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
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SOURCE Research and Markets
