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Furnaces and ovens; industrial or laboratory, including incinerators, non-electric

8417 (Harmonized System 1992 for 4-digit)

2023
World Trade $6.02BRnk 486 / 1217
2023
Top Exporter | Top Importer $2B | $442MChina | United States
2023
Product Complexity 0.88Rnk 217 / 1044
2022 - 2023
Export Growth (CAGR) 16.1%Rnk 86 / 1217
2023
Share of World Trade 0.027%Rnk 486 / 1217

About

Overview This page contains the latest trade data of Industrial Furnaces. In 2023, Industrial Furnaces were the world's 486th most traded product, with a total trade of $6.02B. Between 2022 and 2023 the exports of Industrial Furnaces grew by 16.1%, from $5.18B to $6.02B. Trade in Industrial Furnaces represent 0.027% of total world trade.

Industrial Furnaces are a part of Machinery, mechanical appliances, & parts. They include Parts of industrial or laboratory furnaces/ovens, Industrial furnace, oven, incinerator non-electric ne, Furnaces/ovens non-electric for ores/pyrites/metals, and Bakery ovens, etc non-electric.

Exports In 2023 the top exporters of Industrial Furnaces  were China ($2B), Germany ($701M), Italy ($631M), United States ($301M), and Czechia ($236M).

Imports In 2023 the top importers of Industrial Furnaces were United States ($442M), India ($348M), Indonesia ($325M), China ($267M), and Malaysia ($249M).

Ranking Industrial Furnaces ranks 217th in the Product Complexity Index (PCI).

Description Industrial or laboratory furnaces and ovens are used to heat other materials. They can be made from a variety of materials, including iron, steel, copper, brass, and aluminum.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Industrial Furnaces. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$2B
Top Destination (2023)United States$442M

In 2023 Industrial Furnaces were the world's 486th most traded product (out of 1,217).

In 2023, the top exporters of Industrial Furnaces were China ($2B), Germany ($701M), Italy ($631M), United States ($301M), and Czechia ($236M).

In 2023, the top importers of Industrial Furnaces were United States ($442M), India ($348M), Indonesia ($325M), China ($267M), and Malaysia ($249M).

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Exporters of Industrial Furnaces (2023)
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Importers of Industrial Furnaces (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$227M
Top Destination Growth (2022 -  2023)Malaysia$184M

Between 2022 and 2023, the exports of Industrial Furnaces grew the fastest in China ($227M), Czechia ($146M), Germany ($105M), Turkey ($50.2M), and South Korea ($42.8M).

Between 2022 and 2023, the fastest growing importers of Industrial Furnaces were Malaysia ($184M), Uzbekistan ($164M), India ($158M), United States ($99.3M), and China ($64.1M).

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Exporters of Industrial Furnaces (2022 - 2023)

Importers of Industrial Furnaces (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Industrial Furnaces.

In 2023, market concentration measured using Shannon Entropy, was 3.92. This means that most of the exports of Industrial Furnaces are explained by 15 countries.

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Value of Exports in Industrial Furnaces

Net Trade

TOP NET EXPORTER (2023)China$1.73B
TOP NET IMPORTER (2023)Indonesia$321M

This map shows which countries export or import more of Industrial Furnaces. Each country is colored based on the difference in exports and imports of Industrial Furnaces during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Industrial Furnaces were China ($1.73B), Italy ($523M), Germany ($466M), Czechia ($196M), and Spain ($128M).

In 2023, the countries that had a largest trade value in imports than in exports of Industrial Furnaces were Indonesia ($321M), India ($243M), Malaysia ($231M), Uzbekistan ($226M), and Russia ($176M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Industrial Furnaces, disaggragated by their HS6 level were Parts of industrial or laboratory furnaces/ovens ($2.58B), Industrial furnace, oven, incinerator non-electric ne ($1.85B), Furnaces/ovens non-electric for ores/pyrites/metals ($1.14B), and Bakery ovens, etc non-electric ($451M)

HS6 Disaggregation for Industrial Furnaces (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Industrial Furnaces.
It is possible to select the main countries that export or import Industrial Furnaces in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Industrial Furnaces by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $45.2M
TOP IMPORT POTENTIALItaly+ $8.13M

Industrial Furnaces’s highest export potential is India. With an export gap of $45.2M.  Industrial Furnaces’s highest import potential is Italy with an import gap of $8.13M.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Industrial Furnaces.

Country by Relatedness

The following visualization shows the relatedness of Industrial Furnaces to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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