Heat Treating Market projected to grow at a compound annual growth rate of 3.5% from 2024 to 2030
Heat Treating Industry Overview The global heat treating market size was estimated at USD 107.18 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.5% from 2024 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 market growth over the forecast period. The increasing demand for heat treatment in EVs is fueled by the pivotal role it plays in enhancing the performance, efficiency, and longevity of critical components within EV drivetrains and battery systems. Gather more insights about the market drivers, restrains and growth of the Heat Treating Market As automakers strive to optimize the efficiency of electric propulsion systems, heat treatment becomes indispensable for components like electric motor components, gears, and battery cells. Moreover, heat treating helps improve the hardness, durabili...