Industrial Oven Market: Introduction
Industrial oven plays a vital role from planning stage to the final manufacturing stage in chemical sector to steel industries, for heat treatment, drying, curing and hardening of different types of materials for a wide range of industrial applications. The industrial ovens are highly used for the tempering of metals (such as aluminium, copper, ferrous metals, copper and brass) as well as glass.
The iconic growth in the industrial oven market is expected with the increase in the industrialization across the globe. At every stage of processing, such as aging, annealing, tempering, bonding, baking, Homogenizing, stress relieving, hardening, normalizing, preheating, sterilization and many others, industrial oven market is expected to gain a profitable monetary value over the forecast period. The industrial oven market offers goods, which can be operated with less electricity and less heat (under 1000 degrees F), while maintaining the international standards to meet the future requirements of the end users.
Some of the manufacturers in industrial oven market also offer the in-house-built industrial ovens named as walk-in ovens, which can save money on construction and shipping. Thus it can be expected to represent an upcoming trend in the industrial oven market over the forecast period.
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Industrial Oven Market: Drivers and Restraints
In heat treatment operations, where less than 1000 degrees F temperature is required in the manufacturing plants, the industrial oven has been expected to replace the industrial furnaces and accentuate the growth of industrial oven market over the forecast period.
One of the developments observed is the continuous line industrial ovens where multiple operations can take place without any intermission during the processing stage and reduced reliance on skills of the workforce. Such ease at the manufacturing stage aids in the productivity economically, which lead to gain lucrative growth in the industrial oven market. Thus, maximum output at affordable cost is expected to be achieved, resulting in gaining fortune for the industrial oven market over the forecast period.
However, the initial cost of the industrial oven is one of the confining factors inhibiting the growth of industrial oven market. Also, difficulty to trust the machines over the man power leads towards affecting the productivity of the companies using the industrial oven over the forecast period.
Less awareness among the manufacturers regarding the requirement of industrial oven or furnace for similar applications is also a factor expected to hamper the growth of industrial oven market in near future.
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Industrial Oven Market: Segmentation
Industrial oven market can be segmented on the basis of product type:
- Batch Oven
- Powder Coat Oven
- High Efficiency Oven
- Composite Oven
- Clam Shell Oven
Industrial oven market can be segmented on the basis of process type:
- Batch process
- Continuous/ conveyor process
Industrial oven market can be segmented on the basis of heating medium:
- Natural Gas
- Electric Heat
- Steam Coal
- Fuel Oil
Industrial oven market can be segmented on the basis of application:
- Food Production
Industrial Oven Market: Region Wise Outlook
Based on geography, the industrial oven market is expected to be dominated by Europe over the forecast period, followed by the U.S. The market growth in the region is expected to be fuelled by the demand for electric heating industrial oven. With the increasing rate of industrialization in Asia Pacific region, the region is estimated to gain substantial monetary value in the industrial oven market over the forecast period.
Certain noteworthy steel making plants are expected to start projects in India and China, which will aid to gain profitable share in the industrial oven market for conveyor industrial oven. Whereas, countries such as Turkey in Middle East region are expected to account for moderate share in industrial oven market over the forecast period.
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Industrial Oven Market: Market Participants
Some of the examples of market participants in the global industrial oven market are listed below:
- ASC Process Systems
- Harper International
- Eastman Manufacturing Ltd.
- Rowan Technologies
- Wisconsin Oven Corporation.
- JPW Ovens & Furnaces
- Davron Technologies
- Grieve Corporation
- JLS Ovens
- Steelman Industries, Inc.