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The Metal Heat Treatment Market is estimated to grow at a CAGR of 2.74% between 2022 and 2027, and the size of the market is forecasted to increase by USD 15.18 billion. The growth of the market depends on several factors, including the integration of metal heat treatment processes into production lines, the increase in demand from developing countries, and the growing demand from end-user industries.
This report extensively covers market segmentation by end-user (automotive, industrial machinery, construction, aerospace, and nuclear and others), material (steel, cast iron, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Metal Heat Treatment Market Customer Landscape
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The integration of metal heat treatment processes into production lines is driving market growth. Rapid globalization and increasing investments in the automotive sector have led to intense competition in the automotive sector. As a result, several organizations are streamlining their processes to increase their operational efficiency. The rising demand for high-quality products due to globalization and population growth has encouraged companies to undertake automation in manufacturing. This growth mainly focuses on areas such as technology, hardware, software, services, and advanced machinery.
The development of cost-effective, high-quality products compelled automotive companies to adopt automation in factory operations. Many companies are integrating metal heat treatment processes into their production lines. Thus, the integration of heat treatment processes into production lines is expected to drive the growth of the global metal heat treatment market during the forecast period.
The increasing demand for CNC-incorporated machine tools is a key trend shaping the market. The design that provides the desired shape to the final product is the most important aspect of any product development process. Computer numerical control (CNC) machines adhere to design specifications and help in conveniently developing products in the desired form with maximum accuracy. Continuous R&D efforts are leading to advances in machine tools, especially CNC machines. CNC machines are highly productive, with the incorporation of modem technologies in functional units of end-user industries.
The growing demand for high-quality products has encouraged companies to adopt automation in their manufacturing operations. Therefore, businesses and investors globally are investing in process automation. Manually controlled machine tools, especially in SMEs, are being replaced by numerical control (NC) and CNC machines. The new machines use programmed commands and computers to ensure high productivity. NC and CNC machines reduce the time and human effort involved in manufacturing processes. In addition, the adoption of industrial automation across various end-user industries requires advanced metal heat treatment processes, which, in turn, will boost the growth of the global metal heat treatment market during the forecast period.
The growth of the global second-hand machine market is challenging market growth. Several manufacturing companies have moved to APAC owing to low-cost manufacturing and high use of second-hand machines from the US and Europe, especially in emerging economies such as China, India, and Pakistan. Many Asian contractors and mining companies purchase second-hand European construction machinery at low prices. This enables contractors and rental providers to control their capital investments. China is a major market for second-hand machines among European companies.
The growing second-hand machine market will negatively impact the demand for new industrial and construction equipment, which, in turn, can limit the adoption of metal heat treatment solutions. Many metal heat treatment equipment manufacturers are selling second-hand metal heat treatment equipment. Thus, the growing global second-hand machine market will adversely affect the global metal heat treatment market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Metal Heat Co. Ltd. - The company offers metal heat treatment such as vacuum annealing and solution treatment. It is involved in metal heating and cooling processes, including tempering, annealing, and normalizing, among others.
ONEX Corp. - The company offers metal heat treatment, such as high-frequency heat treatment and bright heat treatment. Through the Metal Heat Treatment and Processing Business segment, the company is involved in metal heat treatment, metal remediation, and processing businesses.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.
The automotive segment will account for a significant share of market growth during the forecast period. Heat treatment processes help in determining the properties of finished parts in the manufacturing of automotive components. It is applicable to various automotive parts, such as engine components. Rapid urbanization and the changing expenditure pattern have increased sales of luxury cars. A large number of vehicles are produced annually. Hence, there is a need for heat treatment for the mass production of automotive components. Therefore, the demand for metal heat treatment equipment and services will increase in the automotive sector during the forecast period.
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The automotive segment was valued at USD 31.91 billion in 2017 and continued to grow until 2021. Some of the vendors providing metal heat treatment for the automotive industry are Bodycote, Bluewater Thermal Solutions, Keith Co. Inc. (Keith), and East-Lind Heat Treat Inc. (East-Lind Heat Treat). Thus, the increasing establishment of new automotive production facilities across the world is expected to create a demand for metal heat treatment during the forecast period.
The steel segment will account for a significant share of market growth during the forecast period. The increasing demand for heat-treated steel parts in the construction industry, especially in the US, China, and India, is anticipated to increase the demand for steel heat treating during the forecast period. Steel is heated to achieve various mechanical qualities, such as strength, wear resistance, and surface hardness. The machining and formability of steel structures are enhanced by controlled heating and cooling. The advantages of heat treatment steel are expected to increase demand for steel heat treatment, which, in turn, will boost the growth of the global metal heat treatment market during the forecast period.
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APAC is estimated to contribute 50% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The demand for metal heat treatment from countries, such as China, Vietnam, Bangladesh, Japan, South Korea, and India is increasing across the world. Rapid industrialization and significant production of automobiles and industrial machinery are increasing the demand for metal heat treatment processes. In APAC, the growth of end-user industries, competitive manufacturing costs, and high economic growth rates are supporting the growth of the market in end-user industries such as automotive, aerospace, and construction. The oil and gas industry is growing, with an increase in the number of offshoring and nearshoring activities in countries such as China and India, which, in turn, will fuel the demand for metal heat treatment.
The outbreak of COVID-19 led to a strict lockdown in most developed and developing countries, which resulted in a decline in the process of using metal heat treatment by the automotive and construction industries globally. However, from Q3 2020, the ease of lockdowns in different countries and the focus on resuming the operations of businesses will lead to the gradual growth of industrial activities. This will, in turn, propel the growth of the market during the forecast period.
The metal heat treatment market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Metal Heat Treatment Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.74% |
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Market growth 2023-2027 |
USD 15.18 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
1.93 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 50% |
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Key countries |
US, China, Japan, South Korea, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aalberts NV, Advanced Heat Treat Corp., American Metal Processing Co., Bluewater Thermal Solutions, BMT Group Ltd., Bodycote Plc, General Metal Heat Treating Inc., Houston Heat Treat, Keith Co. Inc., Metal Heat Co. Ltd., Nabertherm GmbH, NATIONAL HEAT TREAT LLC, ONEX Corp., Pacific Metallurgical Inc, Paulo Heat Treating, Metal Finishing and Brazing, SECO/WARWICK SA, SEI Heat Treat, Summitglow Ltd., Thermex Metal Treating Ltd, and TRI-J Metal Heat Treating Inc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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