India: Non-Electric Industrial Furnace Market 2025

Non-Electric Industrial Furnace Market Size in India

In 2022, the Indian non-electric industrial furnace market increased by 3.4% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, recorded a mild contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Non-Electric Industrial Furnace Production in India

In value terms, non-electric industrial furnace production rose to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 15%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Industrial Furnace Exports

Exports from India

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 50%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 43%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Egypt (X units), Tanzania (X units) and the United Arab Emirates (X units) were the main destinations of non-electric industrial furnace exports from India, with a combined 51% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +56.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric industrial furnace exported from India were Egypt ($X), Tanzania ($X) and the United Arab Emirates ($X), together comprising 48% of total exports.

Egypt, with a CAGR of +51.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, declining by -14.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.8%), while the prices for the other major destinations experienced a decline.

Non-Electric Industrial Furnace Imports

Imports into India

In 2022, imports of non-electric industrial or laboratory furnaces and ovens into India surged to X units, increasing by 21% compared with the year before. Overall, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 86% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports skyrocketed to $X in 2022. In general, imports, however, saw a deep reduction. The growth pace was the most rapid in 2018 with an increase of 93%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-electric industrial furnace supplier to India, accounting for a 59% share of total imports. Moreover, non-electric industrial furnace imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-11.1% per year) and Germany (-8.0% per year).

In value terms, China ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to India, comprising 59% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.1% per year) and Germany (-5.9% per year).

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, rising by 9.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2020 an increase of 25%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and Italy ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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