Annealing Furnaces Market Scope
Annealing is a heat treatment process used to change the properties of metal or material strengths to make it more ductile, relieve internal stresses, and reduce its hardness. Annealing furnaces are used to heat materials at very high temperatures to alter their hardness and strength properties and improve the machinability and mechanical or electrical properties of the treated material. The three stages in an annealing furnace are recovery, recrystallization, and grain growth.
The global annealing furnace market is highly fragmented in nature as numerous local, regional, and international players operate in the annealing furnaces market. Hence, the bargaining power of suppliers is low. The degree of competition among market players is also high. Manufacturers of annealing furnaces are adopting key strategies of new product development and acquisitions to cater to the needs of end-users. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Annealing Furnaces market throughout the predicted period.
Nabertherm GmbH (Germany), Abbott Furnace Company (United States), Thermcraft, Inc. (United States), Nutec Bickley (Mexico), Lindberg/MPH (United States), Carbolite Gero Ltd. (United Kingdom), Consolidated Engineering Company (United States), Lucifer Furnaces, Inc (United States), Heattek Inc. (United States) and Andritz AG (Austria) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Heat Treat Furnaces (United States), CAN-ENG (Canada), Seco/Warwick, Inc. (Poland), Cooldo Electromechanical Equipment Co., Ltd. (China), Aichelin Group (Austria) and B.M.I. Fours Industriels (France).
Segmentation Overview
The study have segmented the market of Global Annealing Furnaces market by Type (Fixed and Mobile), by Application (Oil & Gas, Aerospace, Automotive, Manufacturing, Electronics, Food & Beverage, Laboratory and Others) and Region with country level break-up.
On the basis of geography, the market of Annealing Furnaces has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Integration of SCADA in the Industrial Annealing Furnace
Market Growth Drivers:
Increasing Demand for Fabricated Metals in the End-Use Industry Such As Aerospace and Automotive Industry and Increase in Consumption of Metals and Alloys in Developing Countries
Challenges:
Lack of Safety and High Chances of Injury
Restraints:
High Cost Associated With the Annealing Furnaces
Opportunities:
Increase in Technological Advancements such as Availability of New Oxygen Technologies and Growing Demand for a Wide Range of Processed Metal Products and Rising Consumption of Steel and Iron in the Infrastructure Sector
Market Leaders and their Expansionary Development Strategies
In February 2023, Nabertherm introduced two innovation from the field of furnace manufacturing. The models VL 01/12 LB & VL 01/12 LB Press, The innovative design - with a stainless-steel housing - and a controller with a graphic touch display, as well as the high-grade Nabertherm quality "Made in Germany" speak their own language. This launch helped company to expand its presence in annealing furnaces market
In 2017, HTF Inc. partnered with IBC Advanced Alloys Corp., leading beryllium and copper advanced alloys company to supply and commissioned a new solution annealing furnace and quench tank to meet the demand for copper alloy products. The unit is a gas-fired loader box style furnace that was uniformly tested to AMS2750.
Key Target Audience
Annealing Furnaces Manufacturers, Traders/Exporters/Importers/Distributors, Potential Investors, Governments and Public Undertakings, End-Use Industry and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.