Heat Treating Equipment Market: Introduction
Heat treatment is the process of heating metal without letting it reach its molten or melting stage, and then cooling the metal in a controlled way to select desired mechanical properties. Heat treatment is used to either make metal stronger or more malleable, more resistant to abrasion or more ductile. All heat treatments involve heating and cooling metals, but there are three main differences in the process: the heating temperature, the cooling rate, and the quenching type. The different types of heat treatment are used for ferrous metals, or metal with iron, which consist of annealing, normalizing, hardening, and/or tempering.
Key Drivers of the Heat Treating Equipment Market
- Joint military operations and constructing strong military bases are factors that help in procurement of ammunition and tanks which are made by the forging method and it helps to boost the heat treating equipment market.
- Increasing disposable income and change in expenditure patterns have resulted in increasing demand for automobiles. Many automobile companies use metal to manufacture automobiles for personal and commercial use. These metals are heat treated for molding and parts making.
Technological advancement such as Vector 3D & 4D Quench creating opportunities in the heat treating equipment market
The execution of virtual technologies into the production process brings substantial benefits for consumers. Vector 3D is an evolution of single-chamber vacuum furnace. Vector 3D enables processes such as sintering, debinding, or solution heat which are the key processes for metal 3D printing. 4D Quench is a vacuum heat treatment system solution for individual quenching of component parts such as gears, shafts, and sleeves, and is made of standard or custom case and through hardening steels. It provides good distortion control and enhances precision and repeatability of heat treatment while reducing unit and overall production cost. Such opportunities help in boosting the market.
Regulations & high impact of hazardous situations may restrain the heat treating equipment market
Heat can cause fire that can burn down buildings and cause serious mishaps. Enclosed rooms and the inside of vacuum furnaces are enclosed spaces that can both suffocate and kill. Safety regulations need to be followed by users such as usage of safety harness while entering the furnace, conducting quarterly fire-fighting exercises, conducting evacuation procedures, issuing appropriate safety clothing, and so. Failure to follow regulations can lead to severe health issues and also prove to be fatal. Such factors put restrictions and hamper the growth of the market.
North America the dominant market
The U.S and Canada dominate the heat treating equipment market in North America. Increase in demand for equipment such as furnaces and ovens are attributed to growth of automobile and aviation industries. This factor is likely to drive the demand for heat treating equipment, offering new opportunities to drive demand in the region.
Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the heat treating equipment market are:
- CM Furnaces Inc.
- REMIX SA
- Keith Company
- J.L Becker Co
- The Grieve Corporation
Heat Treating Equipment Market: Research Scope
Heat Treating Equipment Market, by Type
Heat Treating Equipment Market, by Metals
- Ferrous Metals
- Cast Iron
- Stainless Steel
- Tool Steel
- Non-ferrous Metals
Heat Treating Equipment Market, by Heating Method
- Combustion of fuel
Heat Treating Equipment Market, by Handling Charge
Heat Treating Equipment Market, by Application
- Aircraft Industry
- Automobile Manufacturing
- Defense Sector
- Heavy Machinery
- Powder Metal Industries
Heat Treating Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the heat treating equipment Market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.