Global Heat Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Heat Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Heat Treatment market finds that the global Heat Treatment market reached a value of USD 6113.42 million in 2022. It’s expected that the market will achieve USD 7763.09 million by 2028, exhibiting a CAGR of 4.06% during the forecast period.

Influence of COVID-19 Outbreak on Heat Treatment Industry Development

The impact of COVID-19 reduced the demand for heat treatment services in multiple end-user industries around the world in the short term. The global heat treatment market was severely affected by COVID-19 in 2020. Due to the pandemic, many countries have been forced to enter a lockdown state, resulting in the closure of manufacturing facilities in almost every industry in the world within a certain period of time. The COVID-19 crisis has hit the already challenging supplier landscape in the aerospace industry. The impacts include reduced demand, supply disruption, financial pressure and labor damage, leading to one of the largest global shocks in the industry’s history. The COVID-19 pandemic has had a rapid and serious impact on the globally integrated automotive industry, including the interruption of Chinese parts exports, the interruption of large-scale manufacturing in Europe, and the closure of assembly plants in the United States. The interruption of industrial production also affected the production of metals, machinery and ore. In addition, even after the lock-up agreement was relaxed, the loss of investment plans in various industries and the termination of planned projects continued. The operation of multiple end-user industries has been severely hit, which directly led to a decline in the demand for heat treatment services, which in turn affected the normal operation of the global heat treatment industry.

Due to the spread of the COVID-19 epidemic, many countries have been forced to enter a lockdown state, affecting the normal manufacturing, production and operations of almost every industry in the world. On the other hand, the global pandemic has intensified and travel restrictions have expanded, eliminating the traditional method of directing overheated project managers and field technicians to the customer’s worksite. However, out of concerns that cost overruns and schedule backlogs will cause a greater catastrophic impact, some industry leaders need to adopt advanced heat treatment services and digital applications to resume production in special periods. In this case, it is more prevalent to be able to understand and determine the true needs of customers and apply digital intelligent solutions that are in line with the current economic and environmental conditions. By remotely operating heat treatment equipment and digitally managing quality assurance, it can minimize risks, improve quality, reduce costs and save time for end industry users in special periods.

Strength

The importance of heat treatment in the production process of the end user industry.
The downstream applications are extensive and the permeability is high.
The heat treatment process and technology are constantly being upgraded and optimized.

Weakness

The initial setup cost of the heat treatment system is high.
Potential fire and explosion risks during heat treatment.
The adverse effects of heat treatment on the environment.

Opportunities

Emerging economy markets have huge potential for development in industries such as automobiles and machinery.
Intelligent digital heat treatment solutions.
The adoption of new heat sources that reduce carbon emissions and energy consumption.
Threat
Strict operating standards and government supervision.
Increasingly strict environmental regulations.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Bodycote is one of the major players operating in the Heat Treatment market, holding a share of 11.31% in 2021.

Bodycote is the world's largest and most respected provider of heat treatment and heat treatment services. These services are an important link in the manufacturing supply chain, as well as value-added and proprietary expertise that provide unique solutions for various applications. Bodycote's heat treatment services consist of a number of core technologies, including heat treatment, metal joining, hot isostatic pressing and surface technology.

Aalberts is a technology company that designs mission-critical technologies for pioneering industries and everyday life. Premier Thermal provides commercial metal processing, the process provided: annealing-complete, subcritical and isothermal ferrite nitrocarburizing, neutral hardening, normalizing, quenching and tempering-oil, glycol, polymer and water shot blasting Phosphate and lubricating oil coating pickling and oil-coated polymer coating solution/quenching/aluminum spheroid zing effect force elimination, etc.

Segmentation Overview:

Among different product types, Hardening & Tempering segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Automobile segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Heat Treatment market covered in Chapter 3:

DOWA Thermotech
Specialty Steel Treating
Madinger
ThermTech
Ajax Tocco International
Fengdong
Oerlikon Balzers
Rex Heat Treat
Bodycote
NITREX
Braddock Metallurgical
Woodworth Heat Treating
Aalberts (including Premier Thermal Solutions)
Heat Treating Services Corporation of America
SHU&EHT
Grupo ETSA
Solar Atmospheres
Paulo
Advanced Heat Treat Corp.
Bluewater Thermal Solutions
ALD Thermal Treatment
Hanomag

In Chapter 4 and Chapter 14.2, on the basis of types, the Heat Treatment market from 2018 to 2029 is primarily split into:

Annealing
Normalizing
Case Hardening
Hardening & Tempering
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Heat Treatment market from 2018 to 2029 covers:

Aerospace
Automobile
Metalworking
Heavy Construction Machinery
Mining
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)