U.S.: Market for Industrial Process Furnaces And Ovens 2024

Market Size for Industrial Process Furnaces And Ovens in the U.S.

The U.S. market for industrial process furnaces and ovens expanded sharply to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Industrial process furnace and oven consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Industrial Process Furnaces And Ovens in the U.S.

In value terms, industrial process furnace and oven production totaled $X in 2022. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Industrial process furnace and oven production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Industrial Process Furnaces And Ovens

Exports from the U.S.

After three years of growth, overseas shipments of industrial process furnaces and ovens decreased by X% to X tons in 2022. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, industrial process furnace and oven exports expanded modestly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of industrial process furnace and oven exports from the United States, together comprising X% of total exports. India, Japan, Colombia, Australia, South Korea, Germany, Malaysia, the UK, the Philippines and Belgium lagged somewhat behind, together accounting for a further X%.

From 2013 to 2022, the biggest increases were recorded for Colombia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and Japan ($X) constituted the largest markets for industrial process furnace and oven exported from the United States worldwide, together accounting for X% of total exports. China, Malaysia, South Korea, India, Germany, Australia, the Philippines, the UK, Colombia and Belgium lagged somewhat behind, together accounting for a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for industrial process furnaces and ovens amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, faced a deep reduction. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Process Furnaces And Ovens

Imports into the U.S.

Industrial process furnace and oven imports into the United States expanded markedly to X tons in 2022, surging by X% on the year before. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, industrial process furnace and oven imports rose sharply to $X in 2022. The total import value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X tons), Mexico (X tons) and China (X tons) were the main suppliers of industrial process furnace and oven imports to the United States, together comprising X% of total imports. Italy, India, Colombia, Japan, Canada, Spain, Taiwan (Chinese), South Korea, Austria and Malaysia lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial process furnace and oven suppliers to the United States were Germany ($X), Japan ($X) and Italy ($X), together comprising X% of total imports. Mexico, Canada, China, Austria, Spain, South Korea, India, Malaysia, Taiwan (Chinese) and Colombia lagged somewhat behind, together comprising a further X%.

Colombia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for industrial process furnaces and ovens amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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