About Heat Treating
Heat Treatment is the process used to enhanced chemical and physical properties of a material. There are three major stages of the heat treatment process including Step 1 (heating material slowly to keep uniform temperature), step 2 (holding material for a specific time at a point of temperature), and step 3 (cooling process). The growing use of heat treatment service in the aerospace sector is fueling the growth of the market. Additionally, rising demand from the construction industry and increasing use of vacuum heat treatment technology and digitalization in heat treatment service have been supplementing the overall growth of the market. However, the high cost and time-consuming process of the heat treatment process are considered as a limiting factor in the operating market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 3.69% |
The growing number of smartphone users combined with increasing penetration of internet through wireless telecom and broadband medium has led to the emergence of new mobile based payment solutions. This solutions have experienced massive success in recent years due to ease of convenience offered by them, other than offering better faster and secured transactions. Asia Pacific is a leading market due to massive contribution by China and India in the mobile commerce space.The Manufacturers having a strong hold in the market are Ajax Tocco International, Pillar Induction, Aichelin Holding Gmbh, American Metal Treating, Bluewater. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Heat Treating market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ajax Tocco International (United Kingdom), Pillar Induction (United States), Aichelin Holding Gmbh (Germany), American Metal Treating (United States), Bluewater Thermal Solutions LLC (United States), General Metal Heat Treating (United States), Houston Heat Treat (United States), Keith Company (United States), Pacific Metallurgical (United States) and Paulo (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Thermex Metal Treating Ltd (Canada), ThermTech, Inc. (United States) and Tri-J Heat Treating (United States).
Segmentation Overview
AMA Research has segmented the market of Global Heat Treating market by , Application (Automotive, Aerospace, Metalworking, Machine, Construction and Others) and Region.
On the basis of geography, the market of Heat Treating 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). If we see Market by Process , the sub-segment i.e. Hardening & Tempering will boost the Heat Treating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Treatment Type, the sub-segment i.e. Integral Heat Treatment will boost the Heat Treating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Heat Treating Material Type, the sub-segment i.e. Steel will boost the Heat Treating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Equipment Type, the sub-segment i.e. Fuel-fired furnace will boost the Heat Treating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Vacuum Heat Treatment Technology in Heat Treatment Service and Increasing Digitalization for Furnace Controllability and Maintainability
Market Growth Drivers:
Increasing Demand for Heat Treating Services from Aerospace Sector and Increasing Demand for Heat Treating Services in Construction Industry from Asian and the Middle East Region
Challenges:
Metal Get Oxidized During Heat Treatment Process and High Time-Consuming Process
Restraints:
High Cost for Heat Treating Service due to High Installation and Operating Cost
Opportunities:
Increasing Demand from Rapidly Growing Automotive Industry due to High Demand of Commercial Vehicles and Rising Requirement for High Quality Metal Products and Increasing the Number of Furnace Manufacturers
Market Leaders and their expansionary development strategies
In June 2023, Metso launched RotarEkiln for heat-treating advanced materials. Metso has optimized its existing rotary kiln technology and is launching RotarEkiln, an electrically powered, indirectly heated rotary kiln. The electric heating system
Key Target Audience
Heat Treating Service Providers, Heat Treating Equipment Manufacturers, Raw Material Suppliers, Government Associations and Agencies, Potential Investors, Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.