The need for vacuum carburizing furnaces in the automotive and tool & die industries is on the rise, and material improvements for these furnaces are also contributing to this trend. This market is expanding as a result of the growing acceptance of electric cars. Furthermore, during the projected period, the demand for these furnaces is anticipated to be driven by strict government requirements for lowered emissions.
Due to rising demand from important end-use sectors like the automotive, tool & die, and others, the vacuum carburizing furnaces market is anticipated to have considerable expansion in the upcoming years. One of the biggest consumers of premium components with high surface hardness and corrosion resistance is the automotive industry. Because vacuum carburizing has these advantages, it is frequently utilised in the automobile sector. The market is projected to expand due to the increased demand for cars brought on by rising disposable incomes and rising urbanisation. Furthermore, because of their reduced operating costs and greater process flexibility, vacuum carburizing methods are more cost-effective than other heat treatment procedures like nitriding. This will probably increase demand for vacuum carburizing furnaces in the near future. In the upcoming years, it is anticipated that the increasing use of cutting-edge technology in manufacturing processes, such as robotics and automation, would have a significant impact on market growth.
The vacuum carburizing method has many benefits over the traditional carburizing process, including less distortion of the parts being treated, a lower danger of surface oxidation, and more uniform, consistent outcomes, which are all factors contributing to the market's expansion. A further benefit of using the vacuum carburizing technique is that it helps to tighten process control settings, which improves quality and productivity.
Industrial furnaces called vacuum carburizing furnaces are used to heat treat steel and other metals. The procedure entails heating the metal components to extremely high temperatures in a controlled environment, followed by quenching in oil or water. This lessens wear and tear over time by strengthening and hardening the part's surface.
The vacuum carburizing furnaces market is anticipated to reach a value of USD 1,521.4 million by 2031 and expand at a CAGR of 5.8% between 2021 and 2031.
Vacuum carburizing furnaces have significant installation and maintenance costs, which are anticipated to limit market expansion. Additionally, rising costs for the energy and raw materials utilized in these furnaces are anticipated to prevent their widespread use during the projected period. However, throughout the projected period, the market is anticipated to be driven by rising demand for accurate carburizing and expanding use of these furnaces in the automotive sector.
Ipsen International GmbH, Centorr Vacuum Industries Inc., SECO/WARWICK Corporation, VAC AERO International Ltd., and Taikisha Ltd. (TOK) are a few of the well-known companies in the vacuum carburizing furnaces sector. To increase their market share, these businesses are concentrating on strategic alliances and mergers, and acquisitions.
The Single-Chamber Type to Emerge as the Most Lucrative Segment
Vacuum carburizing furnaces come in three different types: single-chamber, double-chamber, and multi-chamber. Considering value, the single-chamber category is anticipated to be the largest because of its widespread use in automotive applications. During the projected period, the double-chamber sector is anticipated to have the highest CAGR.
The Most Popular Application Segment is Tool & Die
The automotive, tool & die, and other segments of the vacuum carburizing furnace market are broken down based on application. Due to the widespread usage of vacuum carburizing furnaces for treating and finishing automotive components, the automotive industry is anticipated to represent the greatest application in terms of value. The category for tools and dies is anticipated to have the highest CAGR throughout the forecast period.
North American region to render Adequate Financing Avenues
As a result of the expanding automotive sector in nations like China and India, the Asia Pacific region is anticipated to see the quickest growth throughout the forecast period. Vacuum carburizing furnaces are expected to have the greatest market in North America, largely as a result of rising investments from illustrious organizations in the region.
COVID-19 Impact and Market Status
The COVID-19 pandemic is predicted to have a detrimental effect on the vacuum carburizing furnaces market due to disruptions in the supply of components and raw materials, labor scarcity, and a drop in consumer demand. Due to the pandemic's interruptions, the automotive industry is one of the most negatively impacted sectors of the economy. According to estimates, the COVID-19 outbreak will have a low initial impact on this market and a substantial impact in the following months. However, throughout the course of the forecast period, it is anticipated that the growing automotive industry in emerging nations will propel the market for vacuum carburizing furnaces. Vacuum carburizing furnace demand is anticipated to increase in response to stricter emission standards and increased consumer demand for lightweight, low-carbon footprint automobiles. Additionally, a variety of end customers' increasing need for high-performance components is anticipated to boost market expansion.
Latest Innovations in the Global Vacuum Carburizing Furnaces Market: A Snapshot
• SECO/WARWICK Group announced in 2019 that it has acquired CECOF S.A., a major supplier of industrial heating furnaces in Europe. The company's portfolio of surface-hardening solutions for steel applications in the automotive and other sectors was strengthened by this acquisition.
• A maker of industrial vacuums and high-pressure water blasters for use in industrial cleaning applications, Vac-Tron Equipment was recently acquired by Grieve Corporation. With the acquisition, Grieve will be able to diversify its product portfolio for vacuum carburizing furnaces.
• A Dutch-based manufacturer of thermal processing technologies, Vacuum Process Technology (VPT), was recently purchased by Ipsen USA. This acquisition gives Ipsen a competitive edge in the global market for vacuum carburizing furnaces and will assist it in growing its product and service portfolio to fulfill customer needs.
Vacuum Carburizing Furnaces Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1,521.4 million|
|Growth Rate||CAGR of 5.8% during 2021-2031|
|Segment Covered||by Type, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Ipsen International GmbH, Centorr Vacuum Industries Inc., SECO/WARWICK Corporation, VAC AERO International Ltd., and Taikisha Ltd. (TOK)|
Key Segments of the Global Vacuum Carburizing Furnaces Market
By Type Overview (USD million)
By Application Overview (USD million)
• Tool & Die
By Regional Overview (USD million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa