The market for vacuum hardening furnaces is expanding as a result of various factors such as rise in demand for aerospace vehicles, heat-treated items, and automotive parts and components. This market is also driving due to fast rate of development in technology. there is increase in productivity and efficiency of the market as a result of the advent of new technologies which includes remote monitoring, automatic data logging systems, and improved temperature controls.
In a variety of industrial applications, including the fabrication of tool and dies, automotive, aerospace, and other industries, vacuum hardening furnaces are used to obtain increased hardness and oxidation resistance. In comparison to conventional treatments, the vacuum hardening technique offers improved part life and superior surface polish at a lower cost. The need for vacuum hardening furnaces is also anticipated to increase due to the growing use of high-strength steel parts and components in automotive and aerospace vehicles.
There are various benefits of vacuum hardening furnaces which includes high number of durable parts, superior surface finishes, and high-quality heat treatment results. These furnaces also give the items a quality of greater hardness and increased oxidation resistance. Utilizing computerized temperature control systems also improves treatment accuracy for parts, producing goods of higher calibre.
In order to strengthen parts and components through the process of carbon diffusion, vacuum hardening furnaces are specialist pieces of hot-treatment equipment. The contaminants, like as oxygen and nitrogen, are subsequently removed from the part as the furnace is then evacuated. After that, it is cooled to a temperature close to absolute zero, improving its hardness and strength characteristics.
According to projections, the market for vacuum hardening furnaces would increase from USD 1.72 billion in 2021 to USD 2.48 billion by 2031, at a compound annual growth rate (CAGR) of 5.0%. The rising demand for vacuum hardening furnaces from the aerospace, automotive, tool & die, and other end-user sectors is responsible for the expansion of the vacuum hardening furnaces market.
There are various limitations of the market which hampers the growth of the market. The high cost of these furnaces is the major limitation of the market for vacuum hardening furnaces which is hampering the growth of the market.
Additionally, it is anticipated that there is shortage of workers who have experience in order to run and maintain these devices which furthur restrain the expansion of the market. However, the adoption of cutting-edge technologies like remote monitoring and automatic data logging systems is anticipated to save maintenance costs while enhancing performance.
SECO/WARWICK Corporation (US), Grieve Corporation (US), ECM Technologies SA (France), PVA TePla AG (Germany), VAC AERO International Inc. (Canada), IPSEN Group (France), Lindberg/MPH (US), and Ipsen USA are a few of the leading companies in the vacuum hardening furnaces market (US). To strengthen their position in the global market, these firms are concentrating on various methods which includes launch of new products, acquisitions, partnerships, and expansions.
The Oil Hardening segment to form major portion of the market
During the projected period, the sector for oil hardening is anticipated to develop at the greatest compound annual growth rate during the upcoming years in the forecast period. This can be explained by various qualities which are offered by the product like superior toughness and hardness, inexpensive price, and widespread availability when compared to other varieties of vacuum hardening furnaces. The result which is rpoduced by these furnaces is also superior in comparison to the result given by the traditional heat treatments which include carburizing and nitriding.
Vehicles segment segment to be on top of the market
Due to the rise in demand for lightweight cars and high-strength steel components in the manufacturing of automobiles, the vehicle category is anticipated to rise at the greatest compound annual growth rate during the upcoming years in the forecast period. Automotive producers can cut weight by making the use of vacuum hardening furnaces in order to replace the traditional steel with lighter, and stronger components. As a result, the demand for these furnaces from the automotive industry has been skyrocketed.
Asia Pacific region to dominate the market
Due to rise in demand for lightweight vehicles and high-strength parts in the automotive industry from nations like India, China, and Japan, the Asia Pacific vacuum hardening furnaces market is anticipated to expand at the highest CAGR during the forecast period. The market expansion in this area is also being fueled by the rising demand for these furnaces from the aerospace and automotive industries. Additionally, it is anticipated that investments made by both domestic and foreign vendors to increase their production capacity will stimulate the development of this regional industry.
Covid-19 Impact & Market Status
The market for vacuum hardening furnaces has been negatively impacted by the COVID-19 outbreak. Due to the lockdown that has been imposed, there were various restrictions applied on traveling, and there was closure of numerous manufacturing facilities which lowered the demand for these furnaces. However, it has been anticipated that activities of production would see an increase as the limitations which were initially applied during lockdown are gradually eased which is giving the market a good chance to rebound.
Latest Innovations in the Global Vacuum Hardening Furnaces Market: A Snapshot
1. Grieve Corporation unveiled a new furnace in 2019 for heat treatment uses.
2. ECM Technologies SA has established a partnership with the French company known as Ceratizit Group in the year 2020 in order to provide services for advanced metal processing.
The aim of trade research analysis is to provide lessons which are reliable and trustworthy on the universal Vacuum Hardening Furnaces Market. Data which is complex has been identified by the research study and it also demonstrates the prevailing and historical state of the industry along with market drifts which are expected and expected size of the market. All the descriptions of the sector have been recognized by the report study which also includes leaders of the market, investors, customers, and new entrants
Vacuum Hardening Furnaces Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 2.48 billion|
|Growth Rate||CAGR of 5.0% during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||SECO/WARWICK Corporation (US), Grieve Corporation (US), ECM Technologies SA (France), PVA TePla AG (Germany), VAC AERO International Inc. (Canada), IPSEN Group (France), Lindberg/MPH (US), and Ipsen USA|
Key Segments of the Vacuum Hardening Furnaces Market
Type Overview, 2021-2031 (USD Billion)
• Oil Hardening
• Gas Hardening
Application Overview, 2021-2031 (USD Billion)
• Tool & die
End- User Overview, 2021-2031 (USD Billion)
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America