| |April 20215Heat treatment has become the essential mode of producing components owing to its benefits in terms of rendering the much needed strength to the material. Industries in which the components need to be lighter and at the same time stronger are the major growth drivers for this market. The global market for industrial furnaces is expected to cross $16 billion by 2023, at a compound annual growth rate (CAGR) of more than 9 per cent. Growth of the industrial furnaces market is being driven by the recurring demand for iron and steel accompanied by other significant materials and metals. In addition, factors such as rise in adoption of electric industrial furnaces and increase in demand for lightweight vehicles, owing to technological advancements, fuel the growth of the global market. In addition, induction furnace has emerged as a boon for small-scale metal manufacturers. It is smaller in size, when compared to electric arc furnace, and has low operational cost. Industry wise, many automotive component producers can be seen utilizing industrial furnaces to manufacture and heat treat metallic automotive parts, which are used in automotive assembly. This upward trend of manufacturing lightweight metal components in the automotive industry coupled with the growth in production and sales of automobiles is fuelling the market growth further. Various parts and components of an automobile undergo heavy stress and require high durability. Automotive components such as crankshafts, fasteners, rods and arms, panels, camshafts, drive shafts, steering knuckles, oil pump gears, valves, brake pad liner plates, and A/T gears undergo heat treatment. With time, industry is going to see wider adoption of furnaces. After studying this industry segment in-depth, we have come up with the list of Top 10 Industrial Furnace Manufacturers who have excelled in this field with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd. We look forward to receiving your feedback and suggestions. Sudhakar SinghEditorsudhakar.singh@theindustryoutlook.comRendering Strength through Heat Treatment Vol 2 · Issue 7-1 · April, 2021Publisher Alok ChaturvediEditor Sudhakar Singh Editorial Team Janifha Evangeline Samrat Pradhan Hridkamal Roy Aveek Pal Chaudhuri Art & Graphics Ashok Kumar Mohan Krishnan GM Sales & MarketingVirupakshi Pattarsales@theindustryoutlook.com Editorial Querieseditor@theindustryoutlook.comCirculation Manager Magendran PerumalCover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Publisher Alok ChaturvediCopyright © 2021 SiliconMedia Technolo-gies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permis-sion from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. | | December 20194
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