Induction Furnace Market Report 2026

The induction furnace market size has grown strongly in recent years. It will grow from $1.27 billion in 2025 to $1.35 billion in 2026 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to rising steel production, growth of aluminium and copper industries, increasing demand for efficient metal melting processes, expansion of foundries and metal processing units, adoption of medium frequency coreless induction furnaces.

The induction furnace market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increased demand for high-frequency coreless induction furnaces, expansion in vertical and horizontal channel induction furnace applications, growth in zinc and other non-ferrous metal processing, technological advancements in furnace automation, rising investment in electric melting solutions. Major trends in the forecast period include increasing adoption of coreless induction furnaces, rising demand for high-capacity furnaces, growth in steel and aluminium melting applications, expansion of copper and zinc processing, advancements in electric furnace technologies.

The expansion of the aerospace industry is anticipated to boost the growth of the induction furnace market in the future. Aerospace companies frequently utilize induction furnaces due to their specific manufacturing requirements. In this sector, induction furnaces have various applications, including heat treating, metal hardening, curing epoxies and coatings, conducting research and testing of special materials, heating and bonding composite materials, casting metals like titanium and super alloys, and vacuum and levitation melting of specialty alloys. For instance, in September 2024, the Aerospace Industries Association, a U.S.-based government agency, reported that the U.S. aerospace and defense industry achieved a significant milestone in 2023, surpassing $955 billion in sales, marking a 7.1 percent increase from the previous year. Therefore, the ongoing growth of the aerospace sector is expected to drive the induction furnace market.

Major companies in the induction furnace market are increasingly adopting induction stirring technology to improve the homogeneity of molten metal. This method uses magnetic fields to create swirling motions that enhance mixing and alloying, making it particularly advantageous for producing specialty alloys and high-quality castings. For instance, in October 2023, Tenova, an Italy-based company offering sustainable solutions for the mining and metals industries, partnered with ABB, a Switzerland-based firm specializing in electrification and automation technologies. This collaboration aims to enhance electric arc furnace performance by integrating advanced stirring technologies and automation systems, thereby boosting efficiency, productivity, and environmental sustainability in steel production processes.

In March 2023, Busch Vacuum, a Germany-based company specializing in compressors and vacuum pumps, acquired McLaughlin Furnace Group for an undisclosed amount. This acquisition expands Busch Vacuum's offering in the heat and metallurgy industries, providing customers with a more comprehensive range of vacuum services. McLaughlin Furnace Group, a manufacturer of various furnaces, enhances Busch Vacuum's capabilities in serving the evolving needs of its customer base.

Major companies operating in the induction furnace market report are Danieli Group, SMS Group, Tenova S.p.A, Electrotherm Limited, IHI Group, Meltech Ltd., ABP Induction Systems, Inductotherm Group, JP Steel Plantech Co., ECM Technologies, Indotherm Equipment Corporation, Dongguan Jinlai Electromechanical Device Co. Ltd., Guangzhou Durowelder Limited, Shandong Huaxin Electric Furnace Co. Ltd., Xi'an Abundance Electric Technology Co. Ltd., EFD Induction Ltd, Consarc Engineering Ltd, Wallwork Group, eldec Induction GmbH, Inductoheat Europe GmbH, PIOMA-ODLEWNIA S.A, Electrometalurgica S.A., Pillar Induction, ESC Induction, AMLET, EMSCO Inc., Ajax Tocco Magnethermic, Amir Industrial Equipments, Iran Industrial Furnaces, Cerefco, MUR Industries CC, Induction Technology Corporation, GH Induction group, TermiSoluciones SAS, Thermochem Furnaces Pvt. Ltd, ELTERMA S.A.

Asia-Pacific was the largest region in the induction furnace market in 2025. The regions covered in the induction furnace market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the induction furnace market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The induction furnace market consists of sales of refractory lining, coil and yokes, tilting frame and furnace cover. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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