LONDON–(BUSINESS WIRE)–Oct 6, 2020–
The global metal heat treatment market is expected to grow by USD 16.41 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%.
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Technavio has announced its latest market research report titled Global Metal Heat Treatment Market 2020-2024 (Graphic: Business Wire)
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The metal heat treatment market is driven by integrating metal heat treatment with production lines. In addition, the increasing adoption of industrial automation is anticipated to boost the growth of the metal heat treatment market.
Rapid globalization and growing investments in the automobile industry have significantly increased competition in the automobile market. Hence, many organizations are focusing on streamlining their process by adopting automation to increase operational efficiency and gain a competitive edge in the market. For example, many automobile manufacturing companies are integrating metal heat treatment processes with production lines as a part of their operational strategies. This helps them create a continuous system, which leads to quicker development of high-quality products. This trend in the automobile industry is expected to fuel the growth of the global heat treatment market during the forecast period.
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Major Five Metal Heat Treatment Companies:
Advanced Heat Treat Corp.
Advanced Heat Treat Corp. operates its business through segments such as Nitriding and Nitrocarburizing, Conventional Heat Treat, and Other Services. The company offers a wide range of traditional and conventional heat treatment services that include age precipitation, carburizing, carbonitriding, normalizing, and others.
American Metal Treating Inc.
American Metal Treating Inc. operates its business through the HEAT TREATING 101 segment. The company offers a full range of commercial heat treating services that include high-pressure quench vacuum processing, carburizing, cryogenic processing, nitriding, nitro-wear, precipitation hardening, annealing, austempering, stress relieving, ferritic nitro carburizing, and others.
Bluewater Thermal Solutions
Bluewater Thermal Solutions operates its business through segments such as Heat Treatment and Brazing. The company offers a wide range of heat treating services including hardening and tempering, carburizing, normalizing, martempering, nitriding, and heat induction treatment for aluminum, steel, alloy, and other metal parts.
Bodycote Plc
Bodycote Plc operates its business through segments such as The ADE Business and The AGI Business. The company offers heat treatment processes such as case hardening, tempering, solution and aging treatment, Specialty Stainless Steel Processes (S3P), annealing, and normalising.
Metal Heat Co. Ltd.
Metal Heat Co. Ltd. operates its business through a unified segment. The company offers a wide range of heat treating solutions such as vacuum heat treatment, carburizing, induction hardening, nitriding, salt bath quenching, and others for steel and non-ferrous metals.
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Metal Heat Treatment Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Automotive
- Aerospace
- Industrial machinery
- Construction
- Others
Metal Heat Treatment Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- North America
- Europe
- South America
- MEA
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Related Reports onIndustrialsInclude:
Global Vacuum Heat Treatment Market – Global vacuum heat treatment market by end-user (aerospace, automotive, industrial, and commercial) and geography (APAC, North America, Europe, South America, and MEA).
Global Heat Exchanger Market – Global heat exchanger market by product (shell and tube, plate and frame, cooling tower, air cooled, and others), end-user (chemical, fuel processing, HVAC, and others), and geography (Europe, APAC, North America, South America, and MEA).
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SOURCE: Technavio Research
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PUB: 10/06/2020 06:15 PM/DISC: 10/06/2020 06:15 PM
