Portland, OR, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vacuum furnaces market was estimated at $934.1 million in 2021 and is expected to hit $1.3 billion by 2031, registering a CAGR of 3.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $934.1 Million |
| Market Size in 2031 | $1.3 Billion |
| CAGR | 3.2% |
| No. of Pages in Report | 325 |
| Segments Covered | Type, Operation, End use Industry, and Region. |
| Drivers | Increase in population and rapid urbanization especially in the developing nations such as China, India, Argentina, and Brazil |
| Restraints | Negative impact of the Covid-19 pandemic for the time being |
| Opportunities | Extensive use of vacuum furnaces in the automotive industry |
Covid-19 scenario-
- Restrictions on the manufacturing activities during the pandemic impacted the global vacuum furnaces market negatively. Installation of vacuum furnaces through OEMs was stalled too, which had an adverse impact on the market growth.
- However, the market has already got back on track.
The global vacuum furnaces market is analyzed across type, operation, end use industry, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the horizontal segment held nearly three-fourths of the global vacuum furnaces market revenue in 2021, and is expected to dominate by 2031. The vertical segment, on the other hand, would manifest the fastest CAGR of 3.6% throughout the forecast period.
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By operation, the external heat treatment segment garnered more than three-fourths of the total vacuum furnaces market share in 2021, and is expected to dominate by 2031. The internal het treatment segment, simultaneously, would project the fastest CAGR of 3.6% throughout the forecast period.
By end-user, the industrial segment held nearly 90% of the global vacuum furnaces market revenue in 2021, and is expected to dominate by 2031. The research segment, simultaneously, would cite the fastest CAGR of 3.9% throughout the forecast period.
Based on region, the market across Asia-Pacific generated around half of the global vacuum furnaces market share in 2021, and is anticipated to retain the lion’s share by 2031. The LAMEA region, at the same time, would manifest the fastest CAGR of 4.3% during the forecast period. The other provinces analyzed through the report include Europe and North America.
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Key Players:
The key market players analyzed in the global vacuum furnaces market report include Lakshmi Vacuum, ACME, AMG, Advanced Metallurgical Group N.V., Centorr Vacuum Industries, Chugai Ro Co. Ltd., ECM Group, Fours Industriels BMI, Gasbarre Products, Inc., T-M Vacuum Product, IHI Corporation, Ipsen, Naberthern GmbH, Seco/Warwick S.A., Shanghai Haoyue Technology Co., Ltd., Solar Manufacturing, Stericox India Private Limited, and Therelek. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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