Global Vacuum Furnaces Market By Type (Horizontal, Vertical), By Operation (External Heat Treatment, Internal Heat Treatment), By End User Industry (Industrial, Research): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global vacuum furnaces market size was valued at $934.1 million in 2021, and is projected to reach $1,298.8 million by 2031, registering a CAGR of 3.2% from 2021 to 2031. Vacuum furnace heat-treats workpieces in an air-free environment. The absence of oxygen in the furnace allows the furnace to heat the workpiece at extremely elevated temperatures. This way, vacuum furnace prevents oxidation or decarburization of the workpiece during heat treatment; thus, no metamorphic layers are formed.
Vacuum furnaces are available in a wide range of sizes, capacities, operations, and technologies in the market, thereby making them usable for a wide range of applications in industries and R&D institutes. Often, when the workpiece is heated in a traditional furnace, it tends to change its surface characteristics; thus, vacuum furnaces are used.
Rise in population, globalization, and rise in disposable income of people has fueled the growth of industries such as aerospace, automotive, and medical equipment manufacturing. These industries are major users of vacuum furnaces; thus, growth in these industries is expected to drive the vacuum furnaces market. In addition, rise in population and urbanization has fueled the demand in building construction sector, which is expected to positively affect the vacuum furnaces market. Furthermore, rise in R&D activities in developing countries such as India, China, Vietnam, Brazil and others is anticipated to drive the demand for vacuum furnaces market. However, the low heat transfer efficiency of vacuum furnaces is expected to constrain the market. Furthermore, development of technologies that have enabled vacuum furnaces to be more efficient is expected to provide lucrative opportunities for the vacuum furnaces market growth.
The vacuum furnaces market is segmented on the basis of type, operation, end-user industries, and region. By component, the market is bifurcated into horizontal and vertical. On the basis of operation, it is segmented into external heat treatment and internal heat treatment. Furthermore, on the basis of end-user industry, the market is categorized into industrial and research. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as business expansion, partnership, product launch, and product development to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the vacuum furnace market report include ACME, AMG, Advanced Metallurgical Group N.V., Centorr Vacuum Industries, Chugai Ro Co. Ltd., ECM Group, Fours Industriels BMI, Gasbarre Products, Inc., IHI Corporation, Ipsen, Lakshmi Vacuum, Naberthern GmbH, Seco/Warwick S.A., Shanghai Haoyue Technology Co., Ltd., Solar Manufacturing, Stericox India Private Limited, Therelek, and T-M Vacuum Product.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global vacuum furnaces market analysis from 2021 to 2031 to identify the prevailing global vacuum furnaces market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the global vacuum furnaces market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global global vacuum furnaces market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Horizontal
Vertical
By Operation
External Heat Treatment
Internal Heat Treatment
By End User Industry
Industrial
Application
Aerospace
Automotive
Medical
Others
Research
By Region
North America
Mexico
U.S.
Canada
Europe
Germany
France
Italy
UK
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Vietnam
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
UAE
South Africa
Kenya
Key Market Players
AMG Advanced Metallurgical Group N.V.
Centorr Vacuum Industries
Chugai Ro Co. Ltd
ECM Group
Fours Industriels BMI
Gasbarre Products, Inc.
Ipsen
Seco/Warwick S.A
Solar Manufacturing
IHI Corporation
ACME
Nabertherm GmbH
Shanghai Haoyue Technology Co., Ltd.
THERELEK
T-M VACUUM PRODUCTS, INC
Lakshmi Vacuum
Stericox India Private Limited
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