Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) — The “Global Heat Treating Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global heat treating market size reached US$ 100.6 Billion in 2022. Looking forward, the market is expected to reach US$ 127.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.96% during 2022-2028.
The rising volume of air traffic on account of the expanding international trade, the increasing business travel, and the thriving tourism sector represents one of the key factors stimulating the market growth.
Moreover, the boosting sales of vehicles worldwide are propelling the demand for heat treating to enhance the effective utilization of different components in the automotive industries while satisfying customer needs and environmental norms.
Apart from this, as it assists in improving the machinability and surface properties and increasing strength, hardness, and wear resistance of metals, the heat-treating process is used to increase the thermomechanical behavior of Nickel-Titanium (Ni-Ti) based alloys. These alloys find extensive applications in the biomedical sector to produce coils and treat cerebral aneurysms, which are localized dilations of the intracranial arteries.
Furthermore, the leading market players are introducing a reliable, low-cost smart system for automating the heat-treating process. It includes a control unit, algorithm, sensor, and drive circuit that helps reduce time and human intervention and error. This is anticipated to impact the application of heat treating in the construction and oil and gas industries around the world.
Key Market Segmentation
This research provides an analysis of the key trends in each sub-segment of the global heat treating market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on material, process, equipment and application.
Breakup by Material:
Breakup by Process:
- Hardening and Tempering
- Case Hardening
Breakup by Equipment:
- Fuel-Fired Furnace
- Electrically Heated Furnace
Breakup by Application:
The competitive landscape of the industry has also been examined along with profiles of the following key players
- Ajax TOCCO International Ltd
- American Metal Treating Inc
- Bluewater Thermal Solutions
- Bodycote plc
- East-Lind Heat Treat Inc.
- General Metal Heat Treating
- Nabertherm GmbH
- Pacific Metallurgical Inc
- Seco/Warwick Inc.
- Thermax Limited
- Unitherm Engineers Limited
Key Questions Answered in This Report
- How big is the global heat treating market?
- What is the expected growth rate of the global heat treating market during 2023-2028?
- What are the key factors driving the global heat treating market?
- What has been the impact of COVID-19 on the global heat treating market?
- What is the breakup of the global heat treating market based on the material?
- What is the breakup of the global heat treating market based on the process?
- What is the breakup of the global heat treating market based on the equipment?
- What is the breakup of the global heat treating market based on the application?
- What are the key regions in the global heat treating market?
- Who are the key players/companies in the global heat treating market?
|No. of Pages
|2022 – 2028
|Estimated Market Value (USD) in 2022
|Forecasted Market Value (USD) by 2028
|Compound Annual Growth Rate
For more information about this report visit https://www.researchandmarkets.com/r/olzbv2
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- Global Heat Treating Market