Heat treatment is the process of heating metal without letting it reach its molten or melting stage, and then cooling the metal in a controlled way to select desired mechanical properties. Heat treatment is used to either make metal stronger or more malleable, more resistant to abrasion or more ductile. All heat treatments involve heating and cooling metals, but there are three main differences in the process: the heating temperature, the cooling rate, and the quenching type. The different types of heat treatment are used for ferrous metals, or metal with iron, which consist of annealing, normalizing, hardening, and/or tempering.
Key Drivers of the Heat Treating Equipment Market
- Joint military operations and constructing strong military bases are factors that help in procurement of ammunition and tanks which are made by the forging method and it helps to boost the heat treating equipment market.
- Increasing disposable income and change in expenditure patterns have resulted in increasing demand for automobiles. Many automobile companies use metal to manufacture automobiles for personal and commercial use. These metals are heat treated for molding and parts making.
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Technological advancement such as Vector 3D & 4D Quench creating opportunities in the heat treating equipment market
The execution of virtual technologies into the production process brings substantial benefits for consumers. Vector 3D is an evolution of single-chamber vacuum furnace. Vector 3D enables processes such as sintering, debinding, or solution heat which are the key processes for metal 3D printing. 4D Quench is a vacuum heat treatment system solution for individual quenching of component parts such as gears, shafts, and sleeves, and is made of standard or custom case and through hardening steels. It provides good distortion control and enhances precision and repeatability of heat treatment while reducing unit and overall production cost. Such opportunities help in boosting the market.
Regulations & high impact of hazardous situations may restrain the heat treating equipment market
Heat can cause fire that can burn down buildings and cause serious mishaps. Enclosed rooms and the inside of vacuum furnaces are enclosed spaces that can both suffocate and kill. Safety regulations need to be followed by users such as usage of safety harness while entering the furnace, conducting quarterly fire-fighting exercises, conducting evacuation procedures, issuing appropriate safety clothing, and so. Failure to follow regulations can lead to severe health issues and also prove to be fatal. Such factors put restrictions and hamper the growth of the market.
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North America the dominant market
The U.S and Canada dominate the heat treating equipment market in North America. Increase in demand for equipment such as furnaces and ovens are attributed to growth of automobile and aviation industries. This factor is likely to drive the demand for heat treating equipment, offering new opportunities to drive demand in the region.
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Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the heat treating equipment market are:
- CM Furnaces Inc.
- REMIX SA
- Keith Company
- J.L Becker Co
- The Grieve Corporation