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Technavio’s market research analysts have identified the increasing demand for internal combustion engines as one of the primary factors that will trigger the growth of the gas nitriding furnace market in the coming years. Gas nitriding process is extensively used for surface hardening of crankshafts which aids in converting energy and power to the rotary movement. Crankshafts utilize connecting rods to transfer piston movements to rotational movements and are required by various engine types in automotive engines. Internal combustion engines are used in a variety of non-automotive applications, owing to this, the demand for ICE is expected to increase in the next five years. More than 1300 million internal combustion engines were used in 2016 and comprise of engines of both automotive and non-automotive industry. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 5% by 2022.
The increasing use of lightweight materials for automobile manufacturing is one of the key trends in the gas nitriding furnace market. Governments across the world are integrating stringent emission regulations which have compelled automakers to focus on developing safe, clean, and zero emission vehicles. The production of lightweight vehicles in the next 20 years will be a result of strong emission regulations and requirements for energy efficiency.
The gas nitriding furnace market is highly fragmented due to the presence of several players. This industry research report provides an in-depth analysis of the competitive environment in the surface hardening market among the leading furnace manufacturers. Moreover, our analysts also provide key areas that the vendors should focus on to sustain the competitive environment and gain maximum market share.
The report offers a detailed analysis of several leading companies, including:
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The non-automotive segment accounted for the major share of the surface hardening market during 2017. During the forecast period, this segment will continue to grow steadily due to the rising demand for construction equipment, generators, industrial machinery, and the aerospace industry.
APAC accounted for the maximum shares of the surface hardening market during 2017. Our analysts have predicted that APAC will witness steady growth in the next five years. The growth of this region can be attributed to the fact that the economic conditions are significantly improving in the emerging countries.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
PART 05: MARKET SIZING
PART 06: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY APPLICATION
PART 08: CUSTOMER LANDSCAPE
PART 09: MARKET SEGMENTATION BY END-USER
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
PART 13: VENDOR LANDSCAPE
PART 14: VENDOR ANALYSIS
PART 15: APPENDIX
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