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Induction Heating System Market Size
- Report ID: GMI5642
- Published Date: Nov 2024
- Report Format: PDF
Induction Heating System Market Size
The global induction heating system market was valued at USD 1.94 billion in 2024 and is predicted to grow at a CAGR of 4.9% from 2025 to 2034. The continuous expansion of the automotive production base coupled with rising vehicle sales is set to drive the business growth. This sector's growth can be attributed to tax incentives for purchases, which have led to a significant increase in the demand for small-capacity engine vehicles.
Induction heating systems are a type of electric heating technology that uses electromagnetic induction to heat materials, typically metals, without direct contact. The process involves passing an alternating current (AC) through a coil, which generates a high-frequency magnetic field. Government policies that support the expansion of domestic manufacturing have led to a rise in industrial facilities, which in turn will drive the product penetration.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Induction Heating System Market Size in 2024: | USD 1.94 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 4.9% |
| 2034 Value Projection: | USD 3.13 Billion |
| Historical Data for: | 2021 to 2024 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 35 |
| Segments covered: | Product, End Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Induction Heating System Market Scope
