Industry Statistics and Rankings
How does this industry perform in Cyprus compared to Europe?
Country Benchmarking
Industry Data Cyprus
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#16 In EuropeBusiness
#15 In EuropeEmployees
#16 In EuropeWages
#16 In EuropeEuropean 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.
Enterprises
Number of businesses in 2024
Biggest companies in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry for IBISWorld to include in this product.
Top Questions Answered in this Report
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What is the market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus in 2024?
The market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus is €83.4m in 2024.
How many businesses are there in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry in 2024?
There are 34 businesses in the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus, which has declined at a CAGR of 2.2 % between 2019 and 2024.
Has the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus grown or declined over the past 5 years?
The market size of the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus has been declining at a CAGR of 1.5 % between 2019 and 2024.
What is the forecast growth of the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus over the next 5 years?
Over the next five years, the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus is expected to grow.
What does the Oven, Furnace & Furnace Burner Manufacturing in Cyprus include?
Electric furnaces and ovens and Parts for furnaces and ovens are part of the Oven, Furnace & Furnace Burner Manufacturing industry.
How competitive is the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus?
The level of competition is moderate and increasing in the Oven, Furnace & Furnace Burner Manufacturing industry in Cyprus.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
- Other Special-Purpose Machinery Manufacturing in Cyprus
- Food & Drink Processing Machinery Manufacturing in Cyprus
Complementors
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 FURNACEWhat's included in this industry?
Electric furnaces and ovensParts for furnaces and ovensBurnersNon electric furnaces and ovens for roasting and meltingOther productsCompanies
Industry Code
2815 - Manufacture of ovens, furnaces and furnace burners in Cyprus
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Performance
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
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry?
Outlook
Analysis
What's driving the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry outlook?
Volatility
Analysis
What influences volatility in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus 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 Cyprus 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.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry's products and services performing?
Analysis
What are innovations in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus industry?
International Trade
Highlights
- Total Imports into Cyprus
- Total Exports into Cyprus
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)
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.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Oven, Furnace & Furnace Burner Manufacturing in Cyprus located?
Companies
Data Tables
Top 0 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
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.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Oven, Furnace & Furnace Burner Manufacturing in Cyprus 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.
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 Cyprus 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.
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