Heat Treating Market Is Expected To Reach USD 136.25 Billion By 2030

 

Heat Treating Industry Overview

 

The global heat treating market size was estimated at USD 107.18 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2030. The rapid growth of the electric vehicle industry, coupled with the growing demand for metallurgical alterations to suit specific applications, is expected to boost market growth over the forecast period.

 

The increasing demand for heat treatment in EVs is fueled by the pivotal role it plays in enhancing the performance, efficiency, and longevity of critical components within EV drivetrains and battery systems.

 

Gather more insights about the market drivers, restrains and growth of the Heat Treating Market

 

As automakers strive to optimize the efficiency of electric propulsion systems, heat treatment becomes indispensable for components like electric motor components, gears, and battery cells. Moreover, heat treating helps improve the hardness, durability, and overall structural integrity of materials, ensuring that components withstand the rigorous demands of EV operations.

 

EVs require heat treatment for specialized materials in DC and AC motors, laminations, bearings, and shafts. Heat treatment for EVs requires a flexible heat-treating approach and is likely to increase the demand for new equipment over the forecast period.

 

The COVID-19 pandemic resulted in significant losses for the automotive industry of the U.S. resulting in supply chain and raw material price volatility. Moreover, the pandemic accelerated the growing environmental concerns, which are anticipated to increase the demand for environment-friendly heat treatment equipment over the forecast period.

 

Heat treatment processes that are commonly used to improve the microstructure of these automotive components encompass annealing, isothermal annealing, normalizing, spheroidizing, quenching, tempering, austempering, and case hardening. Growing requirements for lightweight and fuel-efficient automobiles motivated the demand for heat treatment to achieve desirable properties of automotive components.

 

The pandemic has triggered self-sufficiency in manufacturing, primarily in the U.S. and Europe. Increased use of technologies such as IIOT technology and application of data analytics and continuous monitoring of furnaces are expected to augment the industry growth over the forecast period.

 

The furnaces used in heat treating consume a significant amount of energy to achieve the desired temperature required for heating the metals. Conventional gas-fired and fuel-fired furnaces use fossil oil (FO) and light diesel oil (LDO) as fuel for heat treating. This leads to higher heat losses and thus high environmental impact, which is likely to hamper industry growth.

 

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Heat Treating Market Segmentation

 

Grand View Research has segmented the global heat treating market based on material, process, equipment, application, and region:

 

Heat Treating Material Outlook (Revenue, USD Billion, 2018 – 2030)

• Steel
• Cast Iron
• Others

Heat Treating Process Outlook (Revenue, USD Billion, 2018 – 2030)

• Hardening & Tempering
• Case Hardening
• Annealing
• Normalizing
• Others

Heat Treating Equipment Outlook (Revenue, USD Billion, 2018 – 2030)

• Fuel-fired Furnace
• Electrically Heated Furnace
• Others

Heat Treating Application Outlook (Revenue, USD Billion, 2018 – 2030)

• Automotive
• Aerospace
• Metalworking
• Machine
• Construction
• Others

Heat Treating Regional Outlook (Revenue, USD Billion, 2018 – 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o Spain
o UK
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o UAE
o Saudi Arabia

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Key Companies profiled:

• Bluewater Thermal Solutions LLC
• American Metal Treating Inc.
• East-Lind Heat Treat Inc.
• General Metal Heat Treating, Inc.
• Shanghai Heat Treatment Co. Ltd.
• Pacific Metallurgical, Inc.
• Nabertherm GmbH
• Unitherm Engineers Limited
• SECO/WARWICK Allied Pvt. Ltd.
• Triad Engineers

Recent Developments

• SECO/WARWICK Allied Pvt. Ltd. saw an increase of 15% in its production in 2023 compared to that of 2022, and in January 2024, invested in production capacity development, by expanding its plants in China, India, and the U.S., by as much as 60%.

• In August 2022, SECO/WARWICK delivered a Vector vacuum furnace to Atlas Autos Ltd. The furnace is designed for tempering and hardening processes, featuring a unique design that enables efficient gas cooling of elements and dies essential for automotive production components.