Global Industrial Oven Market Size, Share & Industry Trends Analysis Report By Process, By Industry, By Heating Medium, By Product (Curing Ovens, Baking Ovens, Drying Ovens, Reflow Ovens), By Regional Outlook and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Industrial Oven Market
Market Report Description
The Global Industrial Oven Market size is expected to reach $12.3 billion by 2027, rising at a market growth of 4.6% CAGR during the forecast period.
Industrial ovens are ovens that are used for heating and drying in industries. In addition, they are used in a variety of sectors for heat treatment, curing, drying, and hardening of a variety of materials, from the design stage through the final manufacturing stage. Moreover, they are commonly used in the tempering of metals and glass. Depending on the end-use application, industrial ovens are also available in a number of temperature ranges, sizes, and designs.
Curing, drying, tempering, annealing, or baking of materials, parts, or final products are all common industrial applications for industrial ovens. With the use of a conveyor line, these ovens can be utilized for small as well as large-volume applications, in batches or continuously. Every stage of processing, including aging, annealing, tempering, bonding, baking, homogenizing, stress-relieving, sterilizing, hardening, normalizing, preheating, and others require the usage of an industrial oven.
Some of the key trends of the overall Industrial Oven Market are the rapid use of continuous line industrial ovens, which allow numerous activities to take place simultaneously throughout the processing stage, and less reliance on workforce skills. However, market growth is projected to be hampered due to a lack of understanding among end-users about the differences between an industrial oven and an industrial furnace.
End-users are rapidly shifting to continuous industrial ovens over batch industrial ovens, as continuous ovens do not need repetitive loading and unloading, or heating and cooling between batches and labor and energy demands are generally substantially lower.
COVID-19 Impact Analysis
COVID-19 is a contagious disease that first appeared in China's Hubei province in late December 2020, in the city of Wuhan. Exporters in both advanced and emerging economies have faced a number of obstacles as a result of the global coronavirus pandemic. As many states and governments throughout the world strive to combat COVID-19 with various methods, the challenges faced by exporters of industrial oven' goods are expected to persist for the coming years. Guidelines like Curfew enforcement and social distancing on a worldwide scale have an impact on domestic and foreign production, thereby hampering the market growth.
Market Growth Factors:
Technological innovation and fast-paced Industrialization
In recent years, emerging countries have witnessed increasing industrialization and urbanization. Due to this, many industries demanded equipment that can quickly dry and cure materials. In addition, the increasing usage of industrial ovens rather than industrial furnaces in numerous end-use industries has been witnessed recently. The demand for industrial ovens is increasing as people become more aware of the benefits they provide. Some of the key trends of the market are increased adoption of Industrial Internet of Things (IIoT)-enabled machinery with temperature control sensors and POC analyzers, as well as increased investments in smart factories. Moreover, it is expected that the demand for fabricated metals in the automobile industry would increase in the future.
Growing usage in different end-use industries
Various medical gadgets and instruments can be sterilised in industrial ovens. Medical and surgical components such as staples and metal rods, scalpels, scissors, and syringes are among the other sorts of medical equipment that can be decontaminated utilizing industrial ovens. In addition, Industrial ovens utilized in the healthcare business must be able to precisely control the temperature to make sure that all bacteria, germs, viruses, and some pollutants are eradicated, ensuring that medical equipment is safe to use. Oven innovation is considered advantageous in the pharmaceutical sector. It's because the coatings on pills are baked in industrial ovens.
Marketing Restraining Factor:
Concerns among end-users about heat-loss and irregular heating
Batch ovens, unlike conveyor ovens, usually contain only one oven chamber. If a cool down period is necessary, the product must either remain in the oven chamber until the required temperature is reached or be removed. In either case, heat loss occurs, requiring more energy to raise the oven temperature up to a specific level for the next batch to be processed. Additionally, batch ovens are filled manually the majority of the time, which can lead to unequal product distribution is the oven chamber. During the heating step, if parts are placed unevenly, they may attain somewhat varying temperatures. Uneven heating caused by unpredictable part placement can be mitigated with custom product trays intended to accommodate parts in certain configurations.
Based on Process, the market is segmented into Continuous and Batch. In 2020, the Continuous segment acquired the largest revenue share of the Industrial Oven Market. This is because continuous style ovens provide the benefits of an industrial oven that can operate at a constant rate, resulting in more cost-effective options for high-volume production. The continuous process has a significant advantage over the batch approach in terms of operational consistency. These ovens eliminate the reliance on labor and streamline the manufacturing process, allowing for maximum output at a low cost, which helps the sector thrive.
Based on Industry, the market is segmented into Food Production & Processing, Automotive & Aerospace, Chemical Processing, Electricals & Electronics, Pharmaceuticals and Others. The Automotive & Aerospace segment obtained a significant revenue share of the Industrial Oven Market in 2020. In the aerospace sector, industrial ovens are used for a variety of mission-critical tasks like heat treating, composite curing, and finishing, among others. There is a vast selection of industrial ovens available to fulfill the industry's specific application needs. Manufacturers give the option of customizing to perform specialty heat treatment and drying applications on aircraft, space vehicles, guided missiles, aircraft engines, propulsion units, and associated parts in addition to the regular models available.
Heating Medium Outlook
Based on Heating Medium, the market is segmented into Infrared Heaters, Electric Heat, Fuel & Gas-fired and Others. In 2020, the Infrared Heaters segment obtained the biggest revenue share of the Industrial Oven Market. High-intensity illumination is used in infrared ovens to enhance productivity while reducing energy use. Electromagnetic radiation quickly pulls the oven up to full power, allowing for precise and constant heating. Coating and curing procedures, as well as applications requiring precision and speed, are best done in infrared ovens.
Based on Product, the market is segmented into Curing Ovens, Baking Ovens, Drying Ovens, Reflow Ovens and Others. The Baking segment held a significant revenue share of the Industrial Oven Market in 2020. Baking ovens are used to remove moisture, volatile chemicals, and trapped gases from completed items' coatings. Moreover, the baking procedure in powder coating warms the powder to its melting point in order to bond it to a metal item. Baking ovens integrate curing and drying in single thermal processing equipment. They cure painted objects by eliminating moisture from the air during the drying process, resulting in a faultless surface. Furthermore, industrial baking ovens are used in the food and packaged food industries to boost the speed of food production.
|Market size value in 2020||USD 9.2 Billion|
|Market size forecast in 2027||USD 12.3 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 4.6% from 2021 to 2027|
|Number of Pages||259|
|Number of Tables||489|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Process, Heating Medium, Product, Industry, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, Europe emerged as the leading region in the overall Industrial Oven Market. In addition, the region is expected to showcase a similar kind of trend even during the forecasting period. The growth of the regional market is attributed to the presence of top automobile companies that use industrial ovens for drying and curing purposes.
Free Valuable Insights: Global Industrial Oven Market size to reach USD 12.3 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ASC Process Systems, Harper International Corporation, Thermal Product Solutions LLC (Wisconsin Oven Corporation), JPW Industrial Ovens & Furances, Davron Technologies Inc., Grieve Corporation, JLS Ovens and Furnaces Ltd., Steelman Industries, Inc., and Eastman Manufacturing, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Food Production & Processing
- Automotive & Aerospace
- Chemical Processing
- Electricals & Electronics
By Heating Medium
- Infrared Heaters
- Electric Heat
- Fuel & Gas-fired
- Curing Ovens
- Baking Ovens
- Drying Ovens
- Reflow Ovens
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ASC Process Systems
- Harper International Corporation
- Thermal Product Solutions LLC (Wisconsin Oven Corporation)
- JPW Industrial Ovens & Furances
- Davron Technologies Inc.
- Grieve Corporation
- JLS Ovens and Furnaces Ltd.
- Steelman Industries, Inc.
- Eastman Manufacturing, Inc.
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What would be the size of the industrial oven market by 2027?
The industrial oven market size is projected to reach USD 12.3 billion by 2027.
What are the key driving factors and challenges in the industrial oven market?
Growing usage in different end-use industries are driving the market in coming years, however, concerns among end-users about heat-loss and irregular heating limited the growth of the market.
Who are the leading players in the industrial oven market?
ASC Process Systems, Harper International Corporation, Thermal Product Solutions LLC (Wisconsin Oven Corporation), JPW Industrial Ovens & Furances, Davron Technologies Inc., Grieve Corporation, JLS Ovens and Furnaces Ltd., Steelman Industries, Inc., and Eastman Manufacturing, Inc.
At what CAGR is the industrial oven market estimate to grow in the forecast period?
The expected CAGR of the industrial oven market is 4.6% from 2021 to 2027.
Which segment shows a high revenue share of the industrial oven market in 2020?
The Food Production & Processing segment acquired maximum revenue share the Global Industrial Oven Market by Industry in 2020, thereby, achieving a market value of $3.6 billion by 2027.
Which region dominated the industrial oven market in 2020?
The Europe market dominated the Global Industrial Oven Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.2 billion by 2027.