The market for industrial ovens is expanding as a result of the rising demand for them from the food production and processing, chemical processing, electrical & electronics, pharmaceuticals, and automotive & aerospace industries. The demand for processed food products is increasing as a result of the quick urbanization and industrialisation of developing nations like China and India. Since industrial ovens are used to bake and dry food goods, this has raised demand for them. Moreover, the development of sophisticated industrial ovens with temperature control features is a result of the growing emphasis on the production of energy-efficient and low-emission goods. During the forecast period, this is additionally anticipated to fuel market expansion.
In the manufacturing of a variety of products, including paints, chemicals, electronics components, medicines, food products, automobile parts, aerospace components, and other materials, industrial ovens are used for heating and drying processes. Due to their capacity to deliver uniform temperature distribution and exact control over the heat treatment process, they are extensively employed in the manufacturing sector. Parts that have been exposed to chemicals or solvents are cleaned and dried in industrial ovens. Additionally, they can be used to sterilize, bake, dry, dehydrate, and cure items. The growing demand from end-user sectors, including food manufacturing and processing, chemical processing, electrical & electronics, pharmaceuticals, and automotive & aerospace, has raised the requirement for industrial ovens.
The capacity to provide uniform temperature distribution and precise control over heat treatment processes are the key benefits of industrial ovens. They can lower manufacturing costs by using less gas and electricity than conventional ovens, which makes them more energy-efficient. These ovens' cutting-edge technology also produces higher-quality goods that require less upkeep over a longer period of time and little repair. They are suitable for usage in a variety of sectors since they are simple to use and maintain.
An enclosed chamber known as an industrial oven is used for heating and drying operations in the production of a variety of goods, including paints, chemicals, electronics, medicines, food products, automobile parts, and other materials. It offers consistent temperature distribution and accurate management of heat treatment procedures. Industrial ovens are also more fuel-efficient than normal ovens and use less electricity and gas. Due to their capacity to deliver uniform temperature distribution and exact control over the heat treatment process, they are frequently employed in industrial applications.
At a CAGR of 4.5% over the forecast period, the industrial oven market is anticipated to increase from USD 9.02 billion in 2021 to USD 12.58 billion by 2031.
The rising demand for industrial ovens from the food production and processing, chemical processing, electrical & electronics, pharmaceuticals, and automotive & aerospace industries can be credited with the expansion of this market. During the anticipated time frame, Asia Pacific is anticipated to grow at a faster rate than any other region.
This market's expansion is anticipated to be constrained by the rising cost of industrial oven installation and maintenance. Due to the high initial costs involved with sophisticated industrial ovens, purchasers may experience financial difficulties. Additionally, it is anticipated that the adoption rate of industrial ovens in some places will be constrained by the scarcity of experienced workers and experts capable of operating and maintaining these sophisticated equipment. But in the upcoming years, it is anticipated that the availability of customized solutions and ongoing technological improvements will present a growth potential for this industry.
Siemens AG (Germany), Johnson Controls International PLC (Ireland), Grieve Corporation, Wisconsin Oven Corporation, Despatch Industries Inc., Infors HT (Switzerland), Fostoria Process Equipment LLC, Lindberg/MPH LLC, Baker Furnace, Inc., and Thermal Product Solutions, Inc. are a few of the major players in the industrial oven market (U.S.). These businesses are spending money on R&D in order to release cutting-edge products and increase their market share.
The Curving Ovens segment to form major portion of the market
During the anticipated period, the curing ovens segment is anticipated to rule the industrial oven market. For thermal treatment procedures like plastic moulding, laminate and coating adhesion, preheating/annealing, packaging, and sterilizing, curing ovens are employed. The expansion of this market is being driven by the escalating demand from end-user sectors including food production and processing, automotive and aerospace, electricals and electronics, among others.
Food Production and Processing segment segment to be on top of the market
During the projection period, the category for food production and processing is anticipated to increase at the greatest CAGR. In the food production and processing industries, industrial ovens are frequently used for baking, roasting, grilling, and other thermal treatments. Additionally, rising demand for ready-to-eat meals, expanding demand for frozen foods, and rising consumption of nutritious snacks and bakery goods are anticipated to fuel the expansion of this market.
Asia Pacific to dominate the market
During the projected period, the market in Asia Pacific is anticipated to develop at the fastest rate. The market for industrial ovens in this area is anticipated to increase as a result of rising production capabilities in nations like China and India, as well as rising investments in technologically advanced solutions and industrial automation. Additionally, the presence of significant players and supportive government policies intended to promote industrialization are anticipated to support the expansion of this market in the Asia Pacific region.
Covid-19 Impact & Market Status
The industrial oven market has been significantly impacted by the COVID-19 outbreak. The demand for and output of industrial ovens decreased as a result of the worldwide lockdown. Furthermore, the expansion of this market has been impeded by supply chain disruptions brought on by border closures and transit limitations. However, the need for industrial ovens is anticipated to rise in the upcoming years due to rising investments by governments and manufacturing firms, as well as the growing opening of economies around the world. The market for industrial ovens is expected to develop strongly overall between 2021 and 2031.
Latest Innovations in the Global Industrial Oven Market: A Snapshot
A heavy-duty industrial truck-in oven with internal dimensions of 10' W 10′ D 8' H was introduced by Grieve Corporation.
The SE-Series of industrial ovens for high temperature applications was introduced by Fostoria Process Equipment, LLC in 2019.
2020 saw the release of a batch oven by Wisconsin Oven Corporation with internal dimensions of 11' 6" W x 10' D x 7' H.
AC Servomotors Market Scope
|Revenue forecast in 2031
|USD 12.58 billion
|CAGR of 4.5% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Siemens AG (Germany), Johnson Controls International PLC (Ireland), Grieve Corporation, Wisconsin Oven Corporation, Despatch Industries Inc., Infors HT (Switzerland), Fostoria Process Equipment LLC, Lindberg/MPH LLC, Baker Furnace, Inc., and Thermal Product Solutions, Inc. are a few of the major players in the industrial oven market (U.S.)
Key Segment of Industrial Oven Market
By Type Overview (USD Billion)
• Curing Ovens
• Baking Ovens
• Drying Ovens
By Application Overview (USD Billion)
• Food Production & Processing
• Chemical Processing
• Electricals & Electronics
• Automotive & Aerospace
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa