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.
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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL VACUUM FURNACES MARKET, BY TYPE
CHAPTER 5: GLOBAL VACUUM FURNACES MARKET, BY OPERATION
CHAPTER 6: GLOBAL VACUUM FURNACES MARKET, BY END USER INDUSTRY
CHAPTER 7: GLOBAL VACUUM FURNACES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Global Vacuum Furnaces Market," the global vacuum furnaces market size was valued at $934.09 million in 2021, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 3.2% from 2022 to 2031.The most commonly observed types of vacuum furnaces available on the market are horizontal and vertical. Among these, the horizontal segment accounted for the highest market share in 2021, owing to its easy usability and easy maintenance. The market is analyzed with respect to different operations of vacuum furnaces, such as external heat treatment and internal heat treatment. Among these, internal heat treatment segment is expected to witness the fastest growth with a high CAGR, owing to faster heating and cooling speed. And by end-user industry, it is segmented into industrial and research. Among these, industrial segment registered the highest revenue in 2021. Furthermore, the market is mainly driven by rise in automotive and aerospace industry, which is attributed to rise in R&D activities across the globe. However, low heat transfer efficiency of the vacuum furnace constrains the vacuum furnaces market growth.
In 2021, Asia-Pacific dominated the global vacuum furnaces market share in terms of revenue, followed by North America and Europe. Moreover, the market in LAMEA is expected to grow at a high CAGR, owing to growth in number of industries.
The key players in the vacuum furnaces industry are constantly working on making their products efficient and production-friendly. For instance, in April 2021, SECO/WARWICK, Inc., received the patent for a low-pressure carburizing pit vacuum furnace. This new technology is known as Pit-LPC®. It is an efficient alternative to gas carburizing. It is three times more efficient than a gas-fired furnace.
However, during the pandemic lockdown, various manufacturers in the vacuum furnaces market had to stop their business in countries such as China, the U.S., and India. This halt directly impacted sales of vacuum furnace manufacturing companies in the initial lockdowns. In addition, lack of manpower and raw materials constrained the supply of raw materials for vacuum furnaces and negatively influenced the growth of the market. However, after two years of the COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the vacuum furnaces market forecast 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 Findings of the Study
- The report provides an extensive analysis of the current and emerging vacuum furnaces market trends and dynamics.
- Depending on the type, the horizontal segment dominated the vacuum furnaces market in terms of revenue in 2021 and the vertical segment is projected to grow at a significant CAGR during the forecast period.
- By operation, internal heat treatment segment is expected to grow at a higher CAGR.
- By end-user industry, industrial segment registered the highest revenue in 2021.
- LAMEA is projected to register the highest growth rate in the coming years.
- The key players within the vacuum furnaces market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the vacuum furnace industry.
- The report provides an extensive analysis of vacuum furnaces market opportunites.
- In-depth vacuum furnaces market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 325 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 934.1 million |
| Forecasted Market Value ( USD | $ 1298.8 million |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
