Worldwide sales of magnetic induction heating devices are projected to increase at a CAGR of 4.2% from 2022 to 2032. As of 2022, the global magnetic induction heating devices market accounts for a revenue of US$ 518 million and is anticipated to reach US$ 781.6 million by the end of 2032.
Increasing focus on sustainability and growing need to reduce fossil fuel use are the main factors that are expected to promote demand for magnetic induction heating devices across the forecast period.
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Competitive Landscape :
Magnetic induction heating device manufacturers are focusing on integrating advanced induction heating technologies in various devices to create more sustainable solutions.
Magnetic induction heating product suppliers are also adopting innovative marketing strategies to promote their products and increase sales.
- In November 2021, Havells India Limited, announced the launch of its new campaign to promote its heater based on induction-based heat transfer technology. The Magnatron Water Heater was promoted under the campaign titled “Shower that saves power” and was meant to attract the more environment-conscious consumers in India.
Segmentation of Magnetic Induction Heating Devices Industry Research
Magnetic Induction Heating Devices Market by Power Type :
- 0 to 5 kWh
- 5 to 10 kWh
- More than 10 kWh
Magnetic Induction Heating Devices Market by Application :
- Heating Treatment
- Plastic Processing
Magnetic Induction Heating Devices Market by Region :
- North America
- Latin America