According to a new report published by Allied Market Research, 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.
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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.
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