Make in India initiative drives the furnace market
The induction furnace market in India is poised to grow by US$74.81 million during 2021-2025, progressing at a CAGR of 6.63%, said a report by ResearchAndMarkets.
The market is driven by increasing business confidence within furnace industry and the focus on technology upgrades, according to the report the “Induction Furnace Market in India 2021-2025” release on 21 July 2022.
It identifies the ‘Make in India’ initiative as one of the prime reasons driving the induction furnace market growth in India during the next few years.
Key industry players are:
Electro Power Enterprise
Foster Induction Pvt Ltd
HK Malvi Industries
Inductotherm Group
Jyoti CNC Automation Ltd
Magnalenz
Orbit Induction
Plasma Induction India Pvt Ltd
Priyanka Induction Supermelt
UVRAX ENGINEERING OPC Pvt Ltd.
The induction furnace market in India is segmented as below Steel, Copper, Aluminum and Zinc industries. fiinews.com
