Heat Treating Market To Witness High Growth Due To Rising Application In Construction And Automotive Sectors Till 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global heat treating market size is expected to reach USD 122.34 billion by 2025. Growing application in several sectors including aerospace, machining, construction, automotive, and electrical and electronics can propel the market during the forecast period.

According to a report published by Grand View Research, Inc.; the heat-treating market is likely to reach a valuation of around USD 122.34 billion by 2025.

Growing application in several sectors including aerospace, machining, construction, automotive, and electrical and electronics can propel the market during the forecast period (2014 to 2025).

Automotive and aerospace industries are expected to play crucial role in boosting demand for these services in the coming years. Demand for these services in automotive and aerospace are expected to increase due to high demand for commercial vehicles and rising air passenger traffic. Several components of automobile suffer with heavy stress and therefore requires better durability. Thus, efficient treating process can enhance the mechanical performance.

However, usage of conventional technology and processing methods by the small and medium manufacturers in developing countries is likely to hinder the market growth.

Full Research Report On Heat Treating Market Analysis:
https://www.grandviewresearch.com/industry-analysis/heat-treating-market

U.S. heat treating market, by application, 2014 - 2025 (USD Billion)

Worldwide heat-treating market can be segmented on the basis of material, process, equipment, application, and region.  

As per material, the market can be bifurcated into steel, cast iron, and others. Aluminum sector is likely to show high growth in the years to come. Increasing demand for lightweight components coupled with high tensile strength for airplane and automobiles in order to cut primary and secondary weight is expected to increase demand for aluminum. Steel segment dominated the market earlier, still the segment is expected to drop its position during the forecast period. This can be attributed due to rising use of aluminum and other metal to manufacture components in aerospace and automotive industries. Cast iron material is expected to show sluggish growth over the forecast period due to use of other metals such as aluminum, titanium, nickel, and copper in several end-use industries.

Based on process, the market can be categorized into hardening and tempering, annealing, case hardening, normalizing, and others. In 2016, case hardening segment estimated for over 25.0%. the process is expected to exhibit high growth due to growing use of case hardening process like carburizing, carbonitriding, and cyaniding in wide range of end-use applications.

On the basis of equipment, the market can be classified into fuel-fired furnace, electrically heated furnace, and others.

As per application, the market can be split into aerospace, automotive, metalworking, machine, construction, and others. In 2016, automotive segment estimated for the largest market share and likely to continue this trend over the forecast period. Rising production of vehicles and increasing demand for fuel-efficient cars and light commercial vehicles is expected to boost the segment.

Geographically, the market can be divided into North America, Asia Pacific, Europe, Central & South America, and Middle East & Africa.

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Global heat treating market revenue, by region, 2016 (%)

In 2016, Asia Pacific accounted for the largest revenue share and likely to grow at a CAGR of 3.9%. Rising growth of construction, aerospace, and automotive sectors across major developing countries such as China, Indonesia, and India are likely to increase demand for these services in the region. Aerospace application in the region is likely to show highest growth in the region in the coming years due to growing manufacturing of airplane parts and systems in developing countries such as China and India. Rapid infrastructure development in the region is also expected to boost construction activities. This is expected to increase the demand for these services over the forecast period.

The U.S. is expected to support the market growth in North America. The automotive and aerospace industry are recognized as the major drivers for the market growth in the region. Additionally, growing production of automobile as well as other manufacturing activities in Mexico is expected to boost the demand in the years to come.

Some of the major companies in the market include Solar Atmosphere Inc.; Bohler Uddeholm; American Metal Treating Inc.; Bodycote Heat Treatments Ltd.; and Ajax Tocco International Ltd. Participants in the market are increasingly adopting vertical integration across the value chain. The companies are focusing on incorporation of heat treatment conveniences inside the automobile manufacturing facilities. The vendors are also emphasizing on technological collaborations, mergers, and acquisitions between furnace manufacturers.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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