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Oven, Furnace & Furnace Burner Manufacturing in Europe - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

ISIC 2815 August 2024 Spotlight Report

Revenue

€13.1bn

2019-2024 2.3 %
2024-2029 X.X %

Employees

65,409

2019-2024 1.5 %
2024-2029 X.X %

Businesses

3,653

2019-2024 3.4 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

Oven, Furnace & Furnace Burner Manufacturing in Europe industry analysis

European oven, furnace and burner manufacturers have battled numerous headwinds in recent years. In 2020, the pandemic restricted output capacity, with many downstream markets postponing orders amid uncertain economic conditions. Spain and the UK were the most impacted by extensive lockdowns and stringent COVID-19 restrictions, with manufacturers suffering from substantial output drops. Similarly, soaring steel prices have raised manufacturers operating cost base, exacerbated by the Russia-Ukraine conflict, while weak domestic and foreign downstream demand has lowered export growth and industry revenue.Over the five years through 2024, industry revenue is expected to tumble at a compound annual rate of 2.3% to €13.1 billion. Over 2021 and 2022, supply chain bottlenecks adversely impacted output volumes. Manufacturing couldn't keep up with soaring inflation, with output prices falling short of cost increases, causing industry revenue to drop by 6.7% in 2022. Similarly, the state of the global economy significantly impacts furnace and burner manufacturing, as exports account for most of the industry's revenue. Over 2024, industry revenue is expected to tumble by 3.8% because of weak order volumes downstream markets rein in capital spending amid a high-interest environment. Over the five years through 2029, industry revenue is expected to expand at a compound annual rate of 1.7% to reach €14.3 billion. The industry is moving towards greener solutions as EU and Europe push for stronger environmental regulations. European manufacturers will continue pouring money into R&D to create energy-efficient furnaces and burners, focusing on reducing the overall carbon footprint, enhancing productivity and significantly cutting operational costs. On the product side, AI and IoT technologies will revolutionise the sector by providing clients with comprehensive data analytics on the performance of their furnaces and ovens, reducing furnace downtime and enhancing overall fuel efficiency for clients.

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Industry Statistics and Trends

Oven, Furnace & Furnace Burner Manufacturing in Europe key trends

Weak export activity limits revenue prospects.

 

A substantial chunk of industry revenue comes from exports. However, the share of income accounted for by exports has decreased from 62.8% in 2019 to an expected 56% in 2024, with exports falling well below pre-pandemic levels.

Increasing demand for energy-efficient furnaces offers some growth opportunities.

 

European manufacturers will continue pouring money into R&D to create energy-efficient furnaces and burners, focusing on reducing the overall carbon footprint, enhancing productivity and significantly cutting operational costs.

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Oven, Furnace & Furnace Burner Manufacturing in Europe

Industry Revenue

Total value and annual change from 2011-2029. Includes 5-year outlook.

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Oven, Furnace & Furnace Burner Manufacturing in Europe market size (2019-2024)

Industry revenue has declined at a CAGR of 2.3 % over the past five years, to reach an estimated €13.1bn in 2024.

Trends and Insights

The pandemic and supply-side constraints take their toll on the industry

  • Industry revenue dropped over 2020, 2021 and 2022 as many manufacturers battled with soaring input inflation, supply-side constraints and slashed downstream demand.

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Oven, Furnace & Furnace Burner Manufacturing in Europe outlook (2024-2029)

Market size is projected to grow over the next five years.

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Revenue

€13.1bn

2019-2024 2.3 %
2024-2029 X.X %

Employees

65,409

2019-2024 1.5 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

European Leaders & Laggards

Europe Job Growth CAGR: 1.5 % *
  • Job Growth

Top 5 Countries

  1. Russia +35.3%
  2. France +8.2%
  3. Portugal +6.7%
  4. Austria +5.2%
  5. Poland +5.0%

Bottom 5 Countries

  1. Hungary -9.5%
  2. Serbia -9.3%
  3. Greece -8.9%
  4. Sweden -7.8%
  5. Ireland -7.7%

* CAGR values are for the years 2019-2024.

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Biggest companies in the Oven, Furnace & Furnace Burner Manufacturing in Europe

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
SMS Holding GmbH
3,460.4
44.4
1.3
Metso Outotec
5,949.5
566.3
9.5
Robert Bosch GmbH
91,104.3
3,687.8
4.0

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Oven, Furnace & Furnace Burner Manufacturing in Europe

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Top Questions Answered in this Report

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What is the market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Europe in 2024?

The market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Europe is €13.1bn in 2024.

How many businesses are there in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry in 2024?

There are 3,653 businesses in the Oven, Furnace & Furnace Burner Manufacturing industry in Europe, which has grown at a CAGR of 3.4 % between 2019 and 2024.

Has the Oven, Furnace & Furnace Burner Manufacturing industry in Europe grown or declined over the past 5 years?

The market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Europe has been declining at a CAGR of 2.3 % between 2019 and 2024.

What is the forecast growth of the Oven, Furnace & Furnace Burner Manufacturing industry in Europe over the next 5 years?

Over the next five years, the Oven, Furnace & Furnace Burner Manufacturing industry in Europe is expected to grow.

What does the Oven, Furnace & Furnace Burner Manufacturing in Europe include?

Electric furnaces and ovens and Parts for furnaces and ovens are part of the Oven, Furnace & Furnace Burner Manufacturing industry.

Which countries have the most businesses in the Oven, Furnace & Furnace Burner Manufacturing industry in Europe?

The European country with the most businesses in the Oven, Furnace & Furnace Burner Manufacturing industry is Turkey.

How competitive is the Oven, Furnace & Furnace Burner Manufacturing industry in Europe?

The level of competition is moderate and steady in the Oven, Furnace & Furnace Burner Manufacturing industry in Europe.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

Companies in this industry manufacture electrical and other industrial furnaces, burners and ovens, including incinerators for industrial and domestic use and other thermal equipment. The industry does not include the manufacture of household electric stoves and ovens, central heating radiators and boilers, solar cells, solar panels and dryers.

Related Terms

ARC FURNACELABORATORY FURNACEVACUUM FURNACE

What's included in this industry?

Electric furnaces and ovensParts for furnaces and ovensBurnersNon electric furnaces and ovens for roasting and meltingOther products

Companies

SMS Holding GmbHMetso OutotecRobert Bosch GmbH

Industry Code

ISIC 2006

2815 - Manufacture of ovens, furnaces and furnace burners in Europe

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Performance

Key Takeaways

The pandemic and supply-side constraints take their toll on the industry

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Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue Growth
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry (2011 -2029)
  • Employees in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry (2011 -2029)
  • Business in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry (2011 -2029)
  • Profit in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry (2011 -2029)
Analysis

What's driving current industry performance in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?


Outlook

Analysis

What's driving the Oven, Furnace & Furnace Burner Manufacturing in Europe industry outlook?


Volatility

Analysis

What influences volatility in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

Soaring demand for metal production lifts orders. Soaring metal prices have increased demand for electric furnaces as downstream metal processors and producers rush to benefit from higher market prices.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Oven, Furnace & Furnace Burner Manufacturing in Europe industry's products and services performing?

Analysis

What are innovations in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?


International Trade

Highlights

  • Largest Importer
  • Smallest Importer
  • Total Imports into Europe
  • Largest Exporter
  • Smallest Exporter
  • Total Exports into Europe
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Revenue by Region (2024)
  • Share of Total Industry Enterprises by Region (2024)
  • Share of Total Industry Employment by Region (2024)
  • Share of Total Industry Wages by Region (2024)

Industry Geographic Breakdown

Data Tables

Values and annual change provided for 37 European countries:

  • Revenue (2024)
  • IVA (2024)
  • Enterprises (2024)
  • Employment (2024)
  • Exports (2024)
  • Imports (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

The industry is highly fragmented. The industry is characterised by a high degree of fragmentation thanks to the broad product portfolio and the large number of customers with diverse needs.

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Supply Chain

Charts

Buyer and supply industries

Companies

Market Share

Charts
  • Industry Market Share by Company (2019-2024)

Companies

Data Tables

Top 10 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit Margin (2024)

Data Tables
  • Countries of operation for SMS Holding GmbH
  • Countries of operation for Metso Outotec
  • Countries of operation for Robert Bosch GmbH
  • Countries of operation for Vaillant GmbH
  • Countries of operation for Viessmann Group GmbH & Co KG
  • Countries of operation for NIBE Group AB
  • Countries of operation for Fives Group SAS
  • Countries of operation for Ferroli SpA
  • Countries of operation for IVA Schmetz GmbH
  • Countries of operation for Hornos Industriales Pujol SA

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Manufacturers must abide by EU and national product standards and regulations. For example, the most essential set of rules for the commercial use of heat pumps is EU Regulation 517/2014 on hydrofluorocarbons.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Large-scale manufacturers protect themselves against input inflation. Some large-scale manufacturers have managed to at least partially offload higher steel prices on downstream consumers or hedge against input price fluctuations via long-term fixed-price supply contracts.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Oven, Furnace & Furnace Burner Manufacturing in Europe industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.