Heat treatment furnaces are the heating chambers (refractory vessel) that hold the heat and steel stock. These vessels are heated with the help of fuel (coal, gas, or electricity). The industries determine the design of the furnace based on the stock of steel that is to be treated, and type of treatment that has to be carried out.
Global Heat Treatment Furnace Market: Competitive Landscape
Andritz AG is an Austria based company that develops industrial process and production system solutions for a range of specialized and standard products. The company’s operating business segments include hydro, pulp & paper, metals, separation, and feed & biofuel. The heat treatment furnace provided by the company is part of its metals business segment. The company operates globally through its subsidiaries.
Tenova S.p.A. is an Italian company that designs and distributes a broad array of melt-shop equipment comprising of koster Lances, electric arc furnaces, and consteel continuous scrap feeding and pre-heating systems. The company was established in 1997 and operates worldwide with a wide brand portfolio. Tenova Pyromet, Tenova Nova, Tenova I2S, Tenova HYL, Tenova Italimpianti, and Tenova LOI Thermprocess are some of its prominent brands.
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Primetals Technologies is a joint venture of Mitsubishi Heavy Industries and Siemens that was formed in January 2015. The company deals in steelmaking, ironmaking, continuous casting, hot rolling, cold rolling, non-ferocious rolling, processing, and mini mills.
AICHELIN Holding operates as a division of Berndorf AG, and engages in offering heat treatment solutions. The companies operating under AICHELIN are divided into four segments: industrial furnace solution, induction solution, combustion solution, and global services. Industrial furnace solutions are offered through its six brands, which includes AICHELIN GES.M.B.H., AICHELIN Heat Treatment Systems (Beijing) Co. Ltd., AFC HOLCROFT, BOSIO D.O.O. I Industrial Furnace Solutions, SAFED, and Aichelin Unitherm Heat Treatment Systems India Private Limited.
Other major players operating in the global heat treatment furnace market include Inductotherm Corporation, ALD, Ipsen, Despatch, SECO/WARWICK, Nachi-Fujikoshi, PVA TePla, Cieffe(Accu), and Mersen .
Global Heat Treatment Furnace Market: Dynamics
Rise in demand for heat treatment services
A significant rise in demand for heat treatment services and equipment is majorly influenced by exponentially growing manufacturing industries, resulting in increased demand for iron making, and steel making facilities. The growth of heat treatment solutions and services is set to expand at a higher pace than other economic activities across the globe.
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Intensifying market competition
The noteworthy pace in demand for heat treatment services and equipment is expected to increase the count of furnace manufacturers, particularly in Asia, subsequently resulting in intensified competition amongst heat treatment furnace manufacturers. This rise in competition is further expected to challenge the manufacturers to lower the cost of production without impacting quality.