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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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.
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