Chapter 12: Economics

Induction heating is a rapid, efficient technique for producing localized or through heating in a wide range of industries. The economics as well as the technical feasibility of induction heating should be important considerations prior to investing in such a system. A number of cost elements enter into the analysis. These include equipment and energy costs, production lot size and ease of automation, material savings, labor costs, and maintenance requirements. This chapter discusses each of these factors. It compares the cost elements of induction heating with those of its main competitor, gas-fired furnace heating. Several typical examples are provided to illustrate the economic considerations in design and application of induction heating processes.