9th October, 2018 - Vacuum Heat Treatment Market is expected to witness lucrative growth over the forecast period. The factors contributing to the market growth includes increasing demand from automobile industry, growing copper and steel industries and need for hardening dissimilar materials. In addition, adaptation of internet of things is the factor contributing to the growth in coming six years.
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Growing copper and steel industries is estimated to be the major factor driving market growth. The demand for copper is increasing owing to the increasing investment in the construction industry which consumes copper in large quantity. Vacuum heat treatment technology helps copper to achieve surface modifications and required specific metallurgical properties.
Increasing demand from automobile industry is another factor leading to market growth. In this industry, vehicles manufacturing involves use of various components such as piston mills, gears, flywheels and camshaft made from metals including iron, steel, aluminum and other alloys. In the process of manufacturing, various types of heat treatment and surface engineering processes are used so as to enhance the performance of automotive components. These processes help in increasing reliability, improving the strength and hardness of material and increasing the lifespan of the components.
The vacuum heat treatment market is segmented geographically into North America, Europe, Asia Pacific, Latin America and MEA. North America is expected to dominate the market owing to large number of manufacturers, high R&D expenditures, well established infrastructure, and urbanized lifestyle.Asia Pacific is estimated to witness fastest growth over the decade. Rising disposable income, high steel availability and rising population base are the drivers contributing to market growth.
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