Heat Treating Market size is expected to reach USD 136.25 billion by 2030
Heat Treating Industry Overview The global heat treating market size was valued at USD 100.73 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2022 to 2030. The rapid growth of the electric vehicle industry, coupled with the growing demand for metallurgical alterations to suit specific applications, is expected to boost the market growth over the forecast period. The pandemic is likely to accelerate the adoption of electric vehicles and is likely to become a key factor for major structural changes in this process, which is highly used in the automotive industry. EVs require heat treatment for specialized materials in DC and AC motors, laminations, bearings, and shafts. Heat treatment for EVs requires a flexible heat treating approach and is likely to increase the demand for new equipment over the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Heat Treatin...