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.

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.

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• The global mining waste management market size was estimated at USD 228.5 billion in 2023 and is projected to grow at a CAGR of 4.7% from 2024 to 2030. 

• The global semiconductor bonding market size was estimated at USD 925.00 million in 2023 and is anticipated to grow at a CAGR of 3.8% from 2024 to 2030. 

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

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

Key Heat Treating Company Insights

To increase market penetration and cater to changing technological requirements from various end-uses, such as automotive, machine, construction, aerospace, and metalworking, manufacturers use a variety of strategies, such as joint ventures, mergers, acquisitions, new product launches, and geographical expansions.

• January 2022, Honeywell International Inc. inaugurated a new production facility in Jubail, Saudi Arabia, outfitted with Callidus Flare technology. This technology is specialized in manufacturing products utilizing thermal combustion for the oil and gas industry. The range of flares produced encompasses basic utility flares to high-performance ultra-low steam flares.

Recent Developments

• SECO/WARWICKAllied 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.

Order a free sample PDF of the Heat Treating Market Intelligence Study, published by Grand View Research.

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