U.S. Industrial Process Furnace and Oven Market Shows a Slightly Increasing Output

Ovens, Furnaces And Furnace Burners June 26, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

IndexBox has just published a new report "U.S. Industrial Process Furnace And Oven Market. Analysis And Forecast to 2025". Here is a summary of the report’s key findings.

The U.S. Industrial Process Furnace and Oven Market Reached $2.6 Billion

In 2016, the industrial process furnace and oven market reached 2,664 million USD. According to IndexBox estimates, over the past seven year period, the industrial process furnace and oven market recorded steady growth, following a significant 23% contraction of the sector's market volume in 2009, during the throes of the international financial crisis. Despite this sizeable decline in the market, however, the U.S. industrial process furnace and oven market volume had already regained its pre-crisis performance figures in 2012. 

The U.S. Market of Industrial Process Furnaces and Ovens to Expand Moderately

U.S. growth in industrial process furnace and oven consumption is expected to grow with an anticipated CAGR of +1.6% in the medium term, against the current economic recovery and a surge in demand from the metallurgy and construction industries. The slowdown in the market’s rates of growth are mainly due to the sluggish pace of expansion currently being seen in these sectors, as well as in the economy overall. 

U.S. Industrial Process Furnace and Oven Output Increased Slightly

The production of U.S. industrial process furnace and oven manufacturing increased by 5% to 2,685 million USD in 2016. Production dynamics went hand in hand with that of consumption from 2007 to 2016. 

China, Mexico and Canada Were the Main Export Destinations for U.S. Industrial Process Furnaces and Ovens

The U.S. exported 901 million USD of industrial process furnaces and ovens in 2016, which accounted for 34% of the total output. Exports values recorded a mixed trend patterm. After the decline in 2009, figures recovered over the next two years, experiencing a downturn, however, from 2012 to 2016.

In 2016, the main destinations for U.S. industrial process furnace and oven exports were China (15% based on USD), Mexico (14%) and Canada (13%). Mexico recorded the highest annual average rate of growth in terms of imports (+4.8%) amongst the leaders from 2007 to 2016. By contrast, China (-6.5%) showed a negative dynamic from 2007 to 2016.

The shares exported to Canada (+3 percentage points) and Mexico (+7 percentage points) increased, while the share sent to China(-7 percentage points) illustrated a negative dynamic throughout the analyzed period. 

Germany, Japan, and China Were Key Suppliers of Industrial Process Furnaces and Ovens into the U.S.

The value of total U.S. industrial process furnace and oven imports totalled 880 million USD in 2016. The U.S. industrial process furnace and oven market remained dependent on import supplies from those countries overseas specializing in the manufacture of industrial process furnaces and ovens. The share of imports in consumption stood at 33% in 2016, remaining relatively stable over the period under review.

Germany (21% based on USD), Japan (14%), China (13%) and Canada (10%) were the main suppliers of total industrial process furnaces and ovens into the U.S., with a combined share of 58% of total U.S. imports in 2016. China (+10.8% per year) was the fastest growing supplier from 2007 to 2016. Moreover, China (+6 percentage points) strengthened its position in terms of U.S. imports from 2007 to 2016. By contrast, Japan (-2 percentage points) and Canada (-10 percentage points) saw their shares reduced by –7 percentage points and -2 percentage points, respectively.

Do you want to know more about the U.S. industrial process furnace and oven market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • industrial process furnace market share
  • industrial process furnace prices
  • industrial process furnace industry
  • industrial process furnace sales
  • industrial process furnace import
  • industrial process furnace export
  • industrial process furnace market forecast
  • industrial process furnace price forecast
  • key industrial process furnace producers

Source: U.S. Industrial Process Furnace And Oven Market. Analysis And Forecast to 2025