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Asia Pacific Induction Heating System Market Trends

Report ID: GMI5396
Published Date: Nov 2024
Report Format: PDF

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Asia Pacific Induction Heating System Market Trends

Strict government regulations aimed at decarbonization, along with the widespread adoption of energy-efficient and clean technologies, will foster growth in the renewable energy sector, benefiting product deployment. Furthermore, the decreasing costs of renewable energy, particularly solar and wind power, will encourage substantial investments in the sector, improving the overall business landscape. Supportive government policies promoting the expansion of the manufacturing industry will lead to an increase in industrial facilities, thereby driving up the demand for these units.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for induction heating system in Asia Pacific reached USD 601.2 million in 2024 and is set to grow at a 4.3% CAGR from 2025 to 2034, driven by the flourishing automobile sector and increasing vehicle sales.

The aerospace induction heating system segment is projected to grow at a CAGR of over 4% through 2034, led by the rising demand for new aircraft and the growing maintenance needs of existing fleets.

The China market is set to reach over USD 200 million by 2034, propelled by stringent government regulations and growing investments in the automotive sector.

The key players in the industry include Abhay Induction Tech, ACME, Ambrell, C-Tech Innovation, Chengdu Jinkezhi Electronic, Da-ichi Kiden, EFD Induction, Electrotherm, Fuji Electric, Inductotherm Group, ITW Welding Singapore, and KBG Induction.