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North America Induction Heating System Market Trends

Report ID: GMI8795
Published Date: Apr 2024
Report Format: PDF

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North America Induction Heating System Market Trends

Favorable government policies toward expansion of manufacturing sector will result in an increase of industrial facilities, which will boost the demand for these units. Policy interventions, environmental regulations, trade facilitation, and technological advancements are some of the key tools which are enabling the industries to meet the growing demand and enter international markets. Strict government regulations pertaining to the decarbonization in line with deployment of energy-efficient technologies will propel the product deployment.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

North America for induction heating system was reached USD 438.3 million in 2023 and is expected to register 5% CAGR from 2024 to 2032, owing to the ongoing expansion of the automobile manufacturing plants along with rising vehicle sales worldwide.

North America induction heating system industry from the portable induction heating system segment is expected to exceed USD 300 million by 2032, due to legislative mandates toward minimizing the carbon emissions and shifting focus on the adoption of flexible heating systems.

The U.S. induction heating system industry is expected to cross USD 500 million by 2032 due to rapid expansion of industries along with rising government initiatives to facilitate approval toward the development of new renewable energy projects in the country.

Fuji Electric Co., Kendrion, Lepel Cap Sealing, Lu-Chiuan Heating Elements Ind, MAGNEFORCE HEAT STATIONS, Neturen, RADYNE, TEAM, Inc., Thermo International, Uchino Co., and Ultraflex Power Technologies, are some of the major induction heating system companies in North America.