North America will Bolster Growth of the Industrial Oven Market Registering 6.2% growth During 2017-2023
January 14, 2022
The growth of the Industrial Ovens Market is driven by the rapidly growing industrialization across the globe
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, January 14, 2022 /EINPresswire.com/ -- Industrial Oven Market Overview:-
According to a new report published by Allied Market Research, titled, Industrial Ovens Market by Product, Process, Heating Medium, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2017 - 2023, the global Industrial Ovens Market was valued at $8,469 million in 2016, and is projected to reach $12,897 million in 2023, registering a CAGR of 6.2% from 2017 to 2023. There is a rapid shift among end-users on use of continuous industrial ovens over the batch industrial ovens, as continuous ovens do not require repeated loading and unloading, or heating up and cooling down between each batch, and labor and energy demands often are much lower than batch ovens.
Key Findings of the Industrial Ovens Market:
In 2016, Europe dominated the global market with around one-third share, in terms of value.
Asia-Pacific is estimated to witness the highest growth rate from 2017 to 2023.
Based on product, curing ovens segment generated the highest revenue in 2016, and is expected to grow at a CAGR of 6.1%.
On basis of process, the continuous segment held the dominant share in 2016, and is also expected to register the highest CAGR.
The infrared heaters segment is estimated to register the highest CAGR of 6.5%, in terms of revenue.
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Major companies profiled in the report include :-
ASC PROCESS SYSTEMS
EASTMAN MANUFACTURING LTD
ROWAN TECHNOLOGIES (FMC BIOPOLYMER)
WISCONSIN OVEN CORPORATION
JPW OVENS & FURNACES
JLS OVENS SA
STEELMAN INDUSTRIES, INC
An industrial oven is a heated chamber used to perform a wide range of applications among varied industry verticals. Generally, these ovens process a raw material at extremely high temperatures to perform a heat treatment process. Typical applications for industrial ovens include food production, chemical processing, as well as deployment in the electronics industry.
Rapid adoption of continuous line industrial ovens where multiple operations can take place continuously during the processing stage and reduced dependence on workforce skills are major developments witnessed in the global industrial ovens market. However, high initial cost and low awareness among the end users regarding the difference between industrial oven and industrial furnace are expected to hamper market growth in the near future.
In 2016, the food production & processing segment was the leading revenue contributor to the global market. However, the automotive & aerospace segment is expected to witness the fastest growth rate during the forecast period.
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TABLE OF CONTENT :-
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top impacting factors
3.2.3. Top winning strategies
3.3. PORTER’S FIVE FORCES ANALYSIS
3.4. MARKET PLAYERS POSITIONING
3.5. MARKET DYNAMICS
18.104.22.168. Rapid industrialization in emerging economies of the world
22.214.171.124. Increasing inclination towards use of industrial oven over industrial furnaces
126.96.36.199. High demand for continuous line industrial ovens
188.8.131.52. High energy consumption coupled with high initial cost
184.108.40.206. Continuous technological advancements
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