Home > Industrial Machinery > HVAC > Induction Heating Systems > Induction Heating System Market

Induction Heating System Market Size

Report ID: GMI5642
Published Date: May 2023
Report Format: PDF

Download Free Sample

Induction Heating System Market Size

Induction Heating System Market size surpassed USD 1.9 billion in 2023 and is poised to expand at 4.8% CAGR from 2024 to 2032 driven by the positive outlook of the automotive sector worldwide.

Induction Heating System Market

To get key market trends

Download Free Sample

These optimistic scenarios, in covalence with favorable purchase tax incentives across several economies, resulting in increased sales of small-capacity engine vehicles, will positively sway industry growth. Induction heating systems usually involve high upfront costs and initial investments, which may limit their adoption by 2032. On the other hand, evolving automotive trends and rapid industrial growth across both developed and developing economies will strengthen the induction heating system market outlook.

Induction Heating System Market Report Attributes
Report Attribute	Details
Base Year:	2023
Induction Heating System Market Size in 2023:	USD 1.9 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 2.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	280
Tables, Charts & Figures:	417
Segments covered:	Product, End Use
Growth Drivers:	Increasing investments across the automotive sector Robust industrialization & surging infrastructure developments Large scale integration of renewable energy resources
Pitfalls & Challenges:	High initial investment

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of induction heating system exceeded USD 1.9 billion in 2023 and is projected to expand at 4.8% CAGR from 2024 to 2032, attributed to the flourishing automotive industry globally.

The stationary induction heating system market size is slated witness 4.5% growth rate during 2023-2032, driven by the increasing inclination toward renewable and clean energy technologies.

The induction heating system market revenue from the power generation application is estimated to amass USD 700 million by 2032, owing to the growing environmental concerns and an increased emphasis on reducing production costs of power generation equipment.

Notable players in the induction heating system business landscape are Fuji Electric Co., Heatrotherm, Interpower Induction, RADYNE, Thermo International, Ultraflex Power Technologies, Electrotherm, Microtech Inductions, Ambrell, C-Tech Innovation, EFD Induction, Lu-Chiuan Heating Elements Ind, and others.