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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Industrial Oven Market Outlook
The global industrial oven market is expected to grow at a CAGR of 5.2% in the forecast period of 2024-2032 to reach a value of USD 18.70 billion by 2032.
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Continuous Process Type to Dominate the Global Market for Industrial Oven
Based on process type, the continuous segment dominates the global market for industrial oven and is expected to further maintain its dominance in the forecast period. The growth of the segment can be attributed to the growing demand for continuous style ovens owing to their ability to operate at a continuous rate and facilitate high-volume production at an economical rate. The major benefit offered by the continuous process as compared to the batch process is consistency in operation. These ovens reduce the dependence on workforce and simplifies the manufacturing process, providing maximum output at an affordable cost, which is aiding the industry growth.
Europe to be a Major Regional Market for Industrial Oven
Region-wise, Europe accounts for a significant share in the industry. The market growth can be attributed to the increasing utilisation of electric industrial ovens in the region due to the rising environmental concern and the favourable government policies. Meanwhile, the Asia Pacific is expected to provide enhanced growth opportunities for the market expansion owing to the rapid industrialisation and urbanisation in emerging nations like India and China.
Industrial Oven: Market Segmentation
Industrial ovens are the ovens that are used in industries for heating and drying purposes. They play a significant role, starting from the planning stage to the final manufacturing stage, in various industries for heat treatment, drying, curing, and hardening of a range of materials. They are extensively utilised for the tempering of metals and glass. Industrial ovens are further available in a variety of temperature ranges, sizes, and configurations based on the requirement of the end use applications.
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Based on product type, the market is divided into:
- Curing Oven
- Baking Oven
- Drying Oven
- Reflow Oven
- Others
By process type, the industry can be segmented into:
- Batch
- Continuous
On the basis of heating medium, the industry is categorised into:
- Natural Gas
- Electric Heat
- Steam Coal
- Fuel Oil
- Others
The various applications of industrial ovens are:
- Aerospace
- Furniture
- Marine
- Automotive
- Pharmaceutical
- Food Production
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rapid Industrialisation and Growing Utilisation of Industrial Ovens in Various Applications to Boost the Industry Growth
The growing industrialisation and urbanisation, particularly in developing regions, are driving the growth of the global market for industrial oven. This is further supported by the growing adoption of industrial ovens over industrial furnaces in various end use sectors. The growing awareness regarding the benefits offered by industrial oven is driving the demand for the product.
Over the forecast period, the rapid technological advancements and the growing investments to develop industrial ovens that consume less electricity while meeting the international standards are expected to have a positive effect on the expansion of the global market. Meanwhile, the growing demand for walk-in ovens is expected to be a major trend in the forecast period.
Key Industry Players in the Global Industrial Oven Market
The report gives a detailed analysis of the following key players in the global industrial oven market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ASC Process Systems
- Eastman Manufacturing Ltd.
- Wisconsin Oven Corporation
- JPW Industrial Ovens & Furnaces Inc.
- The Grieve Corporation
- Steelman Industries, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Process Type |
|
| Breakup by Heating Medium |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Industrial Oven Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 18.70 billion by 2032.
The major drivers of the market are the growing industrialisation, need to enhance productivity and reduce manufacturing cost, rising demand from developing regions, and growing technological advancements.
The key trends guiding the growth of the market include the growing awareness and rising demand for walk-in ovens.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types of industrial oven in the market are curing oven, baking oven, drying oven, and reflow oven, among others.
The major process types of industrial oven in the market are batch and continuous.
The significant heating mediums in the market are natural gas, electric heat, steam coal, and fuel oil, among others.
The leading applications in the market are aerospace, furniture, marine, automotive, pharmaceutical, and food production, among others.
The major players in the global industrial oven market are ASC Process Systems, Eastman Manufacturing Ltd., Wisconsin Oven Corporation, JPW Industrial Ovens & Furnaces Inc., The Grieve Corporation, and Steelman Industries, Inc., among others.
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