Press release
Increasing Aircraft Deliveries Drive Growth In Superalloy Melting Equipment Market: An Emerging Driver Transforming The Superalloy Melting Equipment Market Landscape
Superalloy Melting Equipment
What Is the Projected Growth of the Superalloy Melting Equipment Market?
The superalloy melting equipment market size is projected to increase from $1.05 billion in 2024 to $1.12 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth is attributed to a rising aerospace industry, higher demand for high-performance materials in power generation, expansion of the automotive sector, a need for corrosion-resistant materials in the chemical industry, and growth in the oil and gas sector.
The superalloy melting equipment market size is projected to grow to $1.44 billion in 2029, at a CAGR of 6.5%. This growth is attributed to rising demand from aerospace, defense, automotive, and power generation industries, a focus on lightweight and high-performance materials, increased R&D activities, expanding healthcare applications, and growing environmental regulations. Trends include automation and AI integration, sustainable practices, advancements in melting technique
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What Are the Different Superalloy Melting Equipment Market Segments?
The superalloy melting equipmentmarket covered in this report is segmented -
1) By Type: Benchtop Hot-Melt Equipment, Glue Guns
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By Application: Commercial, Industrial
Subsegments:
1) Benchtop Hot-Melt Equipment: Manual Benchtop Hot-Melt Equipment, Automatic Benchtop Hot-Melt Equipment
2) Glue Guns: Standard Glue Guns, High-Temperature Glue Guns
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What Are the Primary Drivers Shaping the Superalloy Melting Equipment Market?
The increasing aircraft deliveries are expected to drive the superalloy melting equipment market. As demand for air travel rises and fleets are upgraded, superalloy melting equipment plays a crucial role in producing high-performance components for aircraft. In February 2023, the International Civil Aviation Organization reported a 53% increase in aircraft orders and a 20% rise in deliveries compared to 2021, underscoring the growth of the superalloy melting equipment market.
Which Companies Are Leading in the Superalloy Melting Equipment Market?
Major companies operating in the superalloy melting equipment market are Thyssenkrupp AG, Henkel AG & Co. KGaA, Precision Castparts Corp., Allegheny Technologies Incorporated, SMS Group GmbH, Nordson Corporation, Graco Inc., Carpenter Technology Corporation, Nippon Yakin Kogyo Co. Ltd., VDM Metals Group, Kurtz Holding GmbH & Co. Beteiligungs KG, Valco Cincinnati Inc., SECO/WARWICK Group, Plansee Group, Nabertherm GmbH, ABP Induction Systems, Robatech AG, ALD Vacuum Technologies, Hitachi Industrial Equipment & Solutions America LLC, Inductotherm Group LLC, TAV Vacuum Furnaces, MTI corporation, Glue Machinery Corporation
What Trends Are Driving Growth in The Superalloy Melting Equipment Market?
Companies in the superalloy melting equipment market are adopting new melting methods like investment casting to improve product quality and durability. Investment casting involves creating detailed metal parts by molding and melting wax models. For instance, in November 2022, Impro Precision Industries Limited, a Hong Kong-based manufacturer, expanded its superalloy investment casting capabilities. They upgraded their equipment, increasing the maximum casting weight and producing larger, more complex components under vacuum conditions, improving quality and casting efficiency.
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What Are the Top Revenue-Generating Geographies in the Superalloy Melting Equipment Market?
Asia-Pacific was the largest region in the superalloy melting equipment market in 2024. The regions covered in the superalloy melting equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Superalloy Melting Equipment Market?
2. What is the CAGR expected in the Superalloy Melting Equipment Market?
3. What Are the Key Innovations Transforming the Superalloy Melting Equipment Industry?
4. Which Region Is Leading the Superalloy Melting Equipment Market?
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