Vacuum Furnaces Market

Description:

The Vacuum Furnaces Market is expected to grow from US$ 881.88 million in 2021 to US$ 1,248.86 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

Market Overview:

The vacuum furnaces market is expanding due to increased demand and growth in various industries, including electronics, medicine, crystal growth, energy, artificial jewels, and others. A wide range of enterprises and research institutes employ vacuum furnaces. Additionally, due to its advantages over traditional furnaces, such as reduced carbon dioxide emissions and environmental friendliness, the use of a vacuum furnace is increasingly becoming widespread.

Furthermore, the vacuum furnaces market is expected to rise by applying the Internet of Things (IoT) concept and systems integration to improve furnace maintainability and controllability over the next few years. The vacuum furnaces market ecosystem constitutes three major stakeholders, namely, raw materials suppliers, vacuum furnace manufacturers, and end users. Raw materials suppliers’ providers include companies that provide various raw materials for assembling and designing furnaces for the desired application. For instance, some major product types are metals, actuators, motors, and drives.

Get Sample PDF:

https://www.theinsightpartners.com/sample/TIPRE00006235/

Leading players in the global vacuum furnaces market are AMG ADVANCED METALLURGICAL; ALD Vacuum Technologies; Centorr Vacuum Industries; Chugai RO Co., LTD; ECM Technologies; HHV Ltd.; HI Machinery and Furnace Co., Ltd.; Ipsen; Solar Manufacturing; and TAV Vacuum Furnaces. Several other companies are functioning in the vacuum furnaces market and are contributing substantial revenues to propel the market growth.

According to Ipsen (US), its customers in eleven states across the US and four other countries — India, Japan, Mexico, and Taiwan placed fresh equipment orders since the beginning of July 2021. Heat exchangers, jet engine components, fasteners, and saw blades are among the products processed in the furnaces. Most sales came from aerospace customers, but Ipsen also claims an increase in orders from new industries such as electric car manufacture and additive manufacturing. As a result of the growth of various sectors, the demand for vacuum furnaces is increasing catalyzing the vacuum furnaces market.

By end users, the vacuum furnaces market is segmented into aerospace, automotive, power generation, tool & die, and others. Based on product type, the market is segmented into vacuum quench furnaces, vacuum brazing furnaces, vacuum carburizing furnaces, and others. Based on geography, the global market is segmented into five major regions: North America

Buy Now: https://www.theinsightpartners.com/buy/TIPRE00006235/

Impact of COVID-19 Pandemic on North America Vacuum Furnaces Market

According to IMF data, following the downturn of 3.4% in 2020, the US economy grew by 5.6 % in 2021. Vacuum furnace providers in the region are committed to achieving the highest safety and environmental protection standards in their manufacturing facilities. Within the US, the Pfeiffer Vacuum Group showcased a gratifying product sales development in the fiscal year 2021. Ipsen (US) received new vacuum furnace orders in 2021, confirmed twenty-two new equipment orders, and recorded part bookings in the first quarter of 2022.

The North America vacuum furnaces market witnessed improved business levels, driven by growing demands for improved thermal process capabilities. Vacuum furnace market orders observed a huge demand from the automotive, additive manufacturing, aerospace, commercial heat treating, and tool and die end-use industries. Companies operating in the North America vacuum furnaces market reported increased demands from the aerospace and additive manufacturing sectors. In Q1 of 2022, Ipsen performed over 250 field service visits to monitor installation and start-up, furnace relocation, preventive maintenance, calibrations and leak checks, and boost its after-sales services.

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876