The global vacuum furnaces market size was valued at USD 963.99 Million in 2022 and is likely to reach USD 1.27 Billion by 2031, expanding at a CAGR of 3.2% during the forecast period, 2023–2031. The high demand for vacuum furnaces in automotive sector is anticipated to drive the market in the coming years.
A vacuum furnace allows for the treatment of heat in the vacuum. Cold wall vacuum furnaces work with a water-cooled vacuum recipient. The heating elements are placed inside this recipient, which is kept cold during the heat treatment process. Moreover, hot wall vacuum furnaces hand functions with heating elements. The elements are placed outside the vacuum recipient while the receiver is heated.
The applications of vacuum heat treatment include vacuum annealing, vacuum soldering and brazing, and sintering. A vacuum furnace is used for any type of heat treatment in a non-oxidizing atmosphere. Moreover, vacuum furnaces are used for heat treatment with oxygen concentration.
The COVID-19 pandemic hampered the vacuum furnace market. According to the International Monetary Fund (IMF), the economic output rose by 6.5% in 2021 in emerging countries, followed by a decline of 2.0% in 2020. Cases related to COVID-19 reduced in the middle of 2022, which in turn, led to the complete re-opening of vacuum furnace industries.
Vacuum Furnaces Market Dynamics
Major Drivers
Population growth, rising disposable income, and globalization propel industries including automotive, aerospace, and others. These industries are prominent users of vacuum furnaces. Thus, their expansion is expected to drive the market. Moreover, by applying the Internet of Things (IoT) several developments in systems to upgrade the furnace quality and controlling ability boost the market.
Existing Restraints
The ability of heat transfer in vacuum furnaces is low. The cost of the furnaces is high, which in turn, hampers the market. The components in the vacuum furnace are heated leading to a decline in hardness with previously quenched materials.
Emerging Opportunities
The use of vacuum furnaces in the R&D sector is likely to create lucrative opportunities in the market. The producers of vacuum furnaces are developing their products to make them more effective. Rise in the number of R&D activities is anticipated to propel the market.
Scope of Vacuum Furnaces Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Vacuum Furnaces Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Vacuum Brazing Furnaces, Vacuum Carburizing Furnaces, Vacuum Quench Furnaces, and Others), Operation (Internal Heat Treatment and External Heat Treatment), End-user (Power Generation, Aerospace, Automotive, Tool and Die, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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HHV; Ipsen; ALD Vacuum Technologies; Chugai Ro Co., Ltd.; TAV VACUUM FURNACES; Centorr Vacuum Industries; AMG; IHI Machinery and Furnace Co.,Ltd; Gasbarre Products, Inc.; and SECO/WARWICK, INC.
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Vacuum Furnaces Market Segment Insights
Type Segment Analysis
Based on type, the vacuum furnaces market is divided into vacuum brazing furnaces, vacuum carburizing furnaces, vacuum quench furnaces, and others. The vacuum brazing furnaces segment is expected to expand at a significant pace during the projection period.
Operation Segment Analysis
On the basis of operation, the global market is segregated into internal heat treatment and external heat treatment. The internal heat treatment segment is projected to register a considerable CAGR during the forecast period. Internal heat treatment is required for manufacturing high-temperature furnaces. The manufacturing capability is high in internal heat treatment.
Vacuum brazing is used to make high-quality joints with different materials such as ceramic and steel. It employs temperatures ranging between 800°C and 1150°C in a vacuum atmosphere. The vacuum brazing furnaces add two or more metal materials together. The brazing oven is heated until the metal started to flow by the time the liquid metal solidifies.
End-user Segment Analysis
In terms of end-user, the vacuum furnaces market is categorized as power generation, aerospace, automotive, tool and die, and others. The aerospace segment is expected to register a robust growth rate during the forecast period. Vacuum furnace is primarily employed in aerospace.
The furnaces are widely used in different procedures including aging, and heat treatment for several materials. Moreover, vacuum furnaces are used to assure a reduction in contamination at the time of heat treatment.
Regional Analysis
Based on region, the global vacuum furnaces market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period. Key players in the region are focusing on developing digital features including cleaning-related products. The products can be accessed through mobile applications and specialized recommendations.
Segments
The vacuum furnaces market has been segmented on the basis of
Type
- Vacuum Brazing Furnaces
- Vacuum Carburizing Furnaces
- Vacuum Quench Furnaces
- Others
Operation
- Internal Heat Treatment
- External Heat Treatment
End-user
- Power Generation
- Aerospace
- Automotive
- Tool and Die
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- HHV
- Ipsen
- ALD Vacuum Technologies
- Chugai Ro Co., Ltd.
- TAV VACUUM FURNACES
- Centorr Vacuum Industries
- AMG
- IHI Machinery and Furnace Co.,Ltd
- Gasbarre Products, Inc.
- SECO/WARWICK, INC.
Competitive Landscape
Key players competing in the global vacuum furnaces market are HHV; Ipsen; ALD Vacuum Technologies; Chugai Ro Co., Ltd.; TAV VACUUM FURNACES; Centorr Vacuum Industries; AMG; IHI Machinery and Furnace Co.,Ltd; Gasbarre Products, Inc.; and SECO/WARWICK, INC. These companies use strategies such as acquisitions, mergers, production expansion, collaboration, partnerships, and product launches to cater to the increasing demand from consumers worldwide. For instance,
- In September 2021, Centorr Vacuum Industries announced the launch of six furnaces under its Workhouse product line. These furnaces are likely to be employed for applications such as process metals for brazing, annealing, and treating and other uses.
- In February 2022, Ipsen extended its services by introducing ultrasonic wall thickness testing for vacuum furnaces. This non-destructive method removes the small amounts of paint at each test point.
