Asia Pacific Induction Heating Systems Market Revenue Forecast 2022-2030 By Regional Manufacturers
The report reveals that the growth of the APAC automobile sector due to economic and population expansion is one of the key drivers for induction heating equipment demand. Based on statistics from the ASEAN Automotive Federation, in 2020, EV sales stood at 2.45 million in ASEAN member states. These factors are expected to bolster the requirement for induction heating for the hardening, tempering, brazing, and bonding of auto parts. Government bodies have also been introducing favorable tax rebates and incentives to support electric vehicle manufacturing, which may further augment the adoption of induction heating tools.
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The portable product segment accounted for around 52% share of the Asia Pacific induction heating systems market in 2021, given the shifting preference toward flexible heating equipment. To minimize greenhouse gas emissions, several legislative mandates and strict codes and standards have been introduced, supporting the deployment of energy-efficient heating units. These factors are likely to propel the usage of portable induction systems as a sustainable method for industrial heating.
In terms of end-use, the Asia Pacific induction heating systems market from aerospace segment is poised to register more than 4% growth rate through 2030. This is a result of the broad application scope of induction heating in hot heading, bonding of composite materials, and levitation melting and vacuum of special alloys in the aerospace sector. Over the next two decades, new aircraft demand in the region is projected to rise, owing to the retirement of less fuel-efficient fleets and accelerating air traffic in the region. These factors, alongside the surging need for existing fleet maintenance, will accelerate the usage of induction heating in aerospace applications.
To browse this report titled, “Asia Pacific Induction Heating Systems Market by Growth Insight, Competitive Analysis and Regional Statistics to 2030”.
Australian induction heating systems market size is also predicted to grow substantially during the forecast period. The ongoing expansion of the metal industry and the consumption of advanced heating solutions in industrial automation, machinery tools, power generation, and railway are among the key factors driving product consumption. Furthermore, the introduction of rigorous emission targets and the high dependence on sustainable heating solutions will bolster induction heating equipment development in Australia.
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