U.S.: Market for Industrial Process Furnaces And Ovens 2024

Market Size for Industrial Process Furnaces And Ovens in the U.S.

In 2023, the U.S. market for industrial process furnaces and ovens increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Industrial process furnace and oven consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Industrial Process Furnaces And Ovens in the U.S.

In value terms, industrial process furnace and oven production stood at $X in 2023. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Industrial process furnace and oven production peaked at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Exports of Industrial Process Furnaces And Ovens

Exports from the U.S.

After six years of growth, overseas shipments of industrial process furnaces and ovens decreased by X% to X tons in 2023. In general, total exports indicated a tangible increase from 2013 to 2023: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2022, and then declined in the following year.

In value terms, industrial process furnace and oven exports skyrocketed to $X in 2023. The total export value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and Japan (X tons) were the main destinations of industrial process furnace and oven exports from the United States, together accounting for X% of total exports. China, India, Bolivia, Colombia, Germany, Taiwan (Chinese), South Korea, Bahamas, Australia and Singapore lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bolivia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Canada ($X) and Mexico ($X) appeared to be the largest markets for industrial process furnace and oven exported from the United States worldwide, together accounting for X% of total exports. China, Taiwan (Chinese), Germany, South Korea, Singapore, India, Colombia, Australia, Bolivia and Bahamas lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Bolivia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for industrial process furnaces and ovens stood at $X per ton in 2023, picking up by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Bahamas ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Process Furnaces And Ovens

Imports into the U.S.

In 2023, industrial process furnace and oven imports into the United States rose remarkably to X tons, picking up by X% compared with the previous year's figure. In general, imports recorded strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, industrial process furnace and oven imports surged to $X in 2023. Overall, total imports indicated a prominent increase from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Mexico (X tons) and China (X tons) were the main suppliers of industrial process furnace and oven imports to the United States, with a combined X% share of total imports. Germany, Canada, India, South Korea, Japan, Spain, Turkey, the UK, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial process furnace and oven suppliers to the United States were Germany ($X), Japan ($X) and Italy ($X), with a combined X% share of total imports. The UK, Mexico, South Korea, Canada, China, Spain, Turkey, India, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for industrial process furnaces and ovens stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform