Asia Pacific Induction Heating Systems Market is set to grow exponentially by 2030

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Asia Pacific Induction Heating Systems Market
report 2022-2030 by regional revenue, growth
trends analysis
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Industry Overview

• 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.
• 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.

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• Induction heating systems market in South Korea
  is anticipated to reach nearly USD 60 million by
  2030, on account of the increasing preference for
  sustainable heating technologies. The regional
  government has introduced varied initiatives for
  the development of clean energy projects. The
  report claims that these factors are likely to
  stimulate the use of induction heating systems
  for renewable power generation applications.
• 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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