Industry Overview

For the metal casting and iron and steel industries, furnaces are the indispensable devices. As the economy and infrastructure demand grow, the demand of iron and steel also grow with the same pace. This requires the high quality furnaces to melt and cast the steel and iron. Apart from this there are other industries that need these furnaces for the metal casting. Apart from this the furnaces are also used for heating purpose in the colder regions of the world.

USA is no doubt is the leading supplier of the furnaces, both electric and gas. This is probably because of continuous expenditure in research and development and skilled technocrats. Followed by USA is European Union and Japan. In Asia, China is emerging as major player in manufacturing of furnaces.

India rely heavily on imports for meeting the local demand for furnace. The main furnace that is demanded in India is induction furnace. This demand is catered both by domestic and the foreign manufactures. In the last two decades, the local manufacturers have largely met the demands. The rapid growth of Induction Furnace industry in India in the last two decades reflects that with lesser investment, small space requirement, steel-making capacity can be increased in a short time.

Regarding potential market no doubt China, India, Brazil, and other Asian countries are emerging as big market. India and China with large amount of investments in infrastructure are the good prospective market. The domestic manufacturer are also gearing up to meet the challenges pose by the foreign manufacturers. The solution lies in the manufacturing of cost effective furnaces based on sound scientific principles.