I know of a few smiths who use them elusively for bladesmithing. The benefit though it that it heats WAY quicker and with less total energy (not electricity)than a standard gas furnace or electrical resistance furnace. Induction is also used in the foundry industry (induction furnaces), and by reversing the loop halfway you can make something called a levitation induction furnace (WAY cooler than an induction heater) .



They aren't really anything special, and are a bit dangerous to use without some sort of shielding between your metal and the coil. A huge amount of electricity goes through that water-cooled pipe and if you end up touching the metal to the pipe in two spots it shorts out. Putting anything in there that will melt will most likely short out the machine as it splashes on the coils.