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Asia Pacific Induction Heating Systems Market Share

Report ID: GMI5396
Published Date: Nov 2022
Report Format: PDF

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Asia Pacific Induction Heating Systems Market Share

Top companies operating in the induction heating systems market in Asia Pacific are

Ultraflex Power Technologies
Microtech Inductions Pvt. Ltd.
Solidheat Industries Pte. Ltd.
C-Tech Innovation
TM Induction Heating
EFD Induction
KBG INDUCTION
Abhay Induction Tech Pvt. Ltd.
Kitashiba Electric Co., Ltd.
Inductotherm Group Japan
Neturen Co., Ltd
Schaeffler (Singapore) Pte. Ltd.
Electrotherm

These firms are focusing on business expansions and other strategies to reinforce their presence in the market.

For instance, in August 2022, Schaeffler (Singapore) expanded its warehouse facility, including distribution and consolidation centers, across India. The expansion required the warehouse to be equipped with 16,000 pallet sites in a 100,000 sq. feet area. Such initiatives will enable the company to establish a strong footprint in the regional industry.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of induction heating systems in Asia Pacific crossed USD 574.8 million in 2023 and is expected to grow at more than 4.1% CAGR through 2032, on account of the large-scale integration of clean energy sources.

The stationary product segment is slated to register over 4% CAGR between 2022 and 2030, owing to low noise emissions, and zero exhaust gas, among other benefits offered by the system.

China is anticipated to held more than 25% of the revenue share by 2030, given the escalating use of advanced heating systems and car sales in the country.

Ultraflex Power Technologies, Microtech Inductions Pvt. Ltd., TM Induction Heating, EFD Induction, Kitashiba Electric Co., Ltd., Schaeffler (Singapore) Pte. Ltd., and Electrotherm are some of the key players in the industry.