Press release
Heat Treating Market Dynamic Demand, Growth, Development, and Challenges with Forecast 2031
The global heat treating market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). The rising demand from the construction and automotive industries is expected to drive the worldwide heat treating market. Heat treatment is mostly utilized in the automobile industry to produce lightweight components since it increases the tensile strength and hardness of the metal while also providing corrosion resistance. Aside from that, the utilization of heat treating services in construction and industrial units is projected to broaden the market reach in the near future. Steel's tensile strength, toughness, and durability are improved by heat treatment for use in construction.
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Heat Treating Market - Competitive Landscape
Leading players in the heat treating market are General Metal Heat Treating, Inc., Bluewater Thermal Solutions LLC, East-Lind Heat Treat Inc., American Metal Treating Inc., Pacific Metallurgical, Inc., Shanghai Heat Treatment Co. Ltd., Nabertherm GmbH, SECO/WARWICK Allied Pvt. Ltd., Unitherm Engineers Limited, and Triad Engineers.
COVID-19 has encouraged market participants to take precautionary measures to ensure their future. Market players are adopting automation to maintain consistency in their processes and increase efficiency and productivity. Moreover, rising customized demand is projected to disrupt traditional methods.
Companies in the global heat treating market are emphasizing the use of sustainable technology to decrease the environmental effect. They are concentrating on lowering energy use and pollution emissions. This has resulted in a considerable improvement in the heating process, which is projected to benefit the heat treating market growth during the projection period.
Heat Treating Market - Trends and Opportunities
The increasing use of heat treating in sectors such as aerospace, electronics, construction, mining, and automotive is expected to drive the global heat treating market during the forecast period. Moreover, the usage of lightweight materials in vehicle production and the increasing use of various metals such as steel and copper are projected to boost the global heat treating market throughout the projection period.
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Heat treating's primary application categories are automotive and aerospace. The rising demand for air travel as a result of increased aviation needs produced by increased air traffic is a critical element for heat-treating operations. Furthermore, the rising demand for heat-treating for construction, notably in the Asia Pacific and the Middle East and Africa, is likely to support market expansion in the forecast years.
In emerging countries like Brazil, China, India, Indonesia, and Mexico, the rising automobile sector is boosting the usage of heat treatment. For long years, automotive manufacturers have favored heat treatment services. The expanding operations of important car manufacturers in developing countries are expected to propel the global heat treating market in the future years. Proficient heat treating of different vehicle components and parts may improve the durability and mechanical strength, consequently boosting the vehicle's performance.
Additionally, the fast rise of the electric vehicle sector and an increasing need for metallurgical changes to fit particular applications are likely to drive market growth over the forecast period. The COVID-19 pandemic is anticipated to hasten the adoption of electric cars and play a crucial role in important radical reforms in this process, which is widely employed in the automotive sector. Heat treatment is required for specialty materials in DC and AC motors, bearings, laminations, and shafts in EVs. Heat treatment for EVs necessitates a flexible heat treating technique, which is expected to enhance demand for new equipment throughout the projection period.
Heat Treating Market - Regional Landscape
The Asia Pacific heat treating market is expected to grow during the forecast period. Stability and a favorable economic outlook following the COVID-19 pandemic are projected to boost demand in the region, resulting in an increase in industrial production and growing end-use industries such as construction and aerospace.
The heat treating market in Europe is likely to experience growth during the forecast period. Stringent government rules governing the use of green technology have contributed significantly to the rise in demand for ecologically friendly heat treatment methods in Europe. Moreover, increasing automotive and construction sectors in Germany and the United Kingdom are likely to provide revenue-generation opportunities in heat treating market in Europe.
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The North America heat treating market is anticipated to expand during the forecast period. The United States is expected to be the largest revenue generator in heat treating market in North America. The aerospace sector in the United States is estimated to increase its innovation process in order to counteract the damages induced by the pandemic, favorably benefiting the market. Moreover, increased localized production to safeguard potential supply chain disruptions is expected to promote market growth in the United States.
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