LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global atmospheric heat treatment equipment market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The report has further segmented the global atmospheric heat treatment equipment market on the basis of end-users (aerospace, automotive, heavy equipment, and others) and geography (APAC, the Americas, and EMEA).
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global atmospheric heat treatment equipment market:
- Stable growth of automotive industry
- Expansion of construction sector
- Growing machine tools market
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Stable growth of automotive industry
Components such as mills, gears, pistons, and flywheels that are made up of metals like aluminum, steel, iron, and other alloys are utilized in the manufacturing process in the automotive industry. To improve the performance of automotive components, several heat treatment processes are used in automobile manufacturing. These processes increase the reliability and lifespan of the components by improving the strength and hardness of the materials.
According to Gaurav Mohindru, a lead analyst at Technavio for engineering tools research, “In emerging economies of APAC, the automobile manufacturing industry is gaining importance. The demand for automobiles, including passenger cars, is steadily rising in these regions due to the rapid rate of urbanization and growing economic activity. The population size, income, and the availability of raw materials, such as steel are some of the factors that influence the production of vehicles in these countries.”
Expansion of construction sector
The global construction sector is witnessing growth because of the rising economic activity and investments in infrastructure. It is predicted that the commercial and residential construction segments will witness steady growth in demand. The primary reason for the slow-moving market is the large residential inventories in these countries. Nevertheless, the market regrowth is expected to be supported by government policies.
In India, the implementation of Real Estate Regulatory Authority (RERA) is likely to bring more transparency in the residential sector. The rising economic condition of the world post the economic slowdown has promoted the growth of the non-residential sector. Therefore, commercial construction is gaining momentum.
Growing machine tools market
Global atmospheric heat treatment equipment market is substantially driven by the global machine tools market. The leading end-users of machine tools are automotive, aerospace and defense, telecommunications, and industrial machinery. The progress in these sectors drives the growth of the global machine tools market, which further propels the demand for atmospheric heat treatment equipment.
“Aviation sector is witnessing growth because of the increasing air traffic. The rising air traffic in countries in APAC, mainly in India and China, is driving the demand for new aircraft. This will further boost the demand for machine tools in the aerospace sector. Air traffic in Asia is expected to increase substantially due to urbanization and increase in wealth. In 2016, Airbus started the operation of its new factory in China as the company believes that the country offers a huge market potential for the aviation industry,” says Gaurav.
Browse Related Reports:
- Global Industrial Fans and Blowers Market 2017-2021
- Global 3D Laser Cutting Machine Market 2017-2021
- Global Safety Air Guns and Air Nozzles Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.