The increasing demand for industrial heaters from various industries such as manufacturing, food & beverages and others is predicted to boost the industrial heaters market growth, says Fortune Business Insights™ in a report, titled “Industrial Heaters“ Market Size, Share & Industry Analysis, By Technology (Electric-based, Steam-based, Hybrid-based Fuel-based), By Product Type (Pipe Heaters, Duct Heaters, Cartridge Heaters, Immersion Heaters, Circulation Heaters ), By Industry (Oil & Gas, Food & Beverages, Petrochemical Industry, Automotive, Pharmaceuticals, Others) and Regional Forecast, 2019-2026 The rising focus of companies towards partnerships and acquisitions to develop innovative products is predicted to accelerate the growth of the market in the forthcoming years.
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Some of the Major Companies in the Industrial Heaters Market Include:
- Auzhan Electric Appliances Co. Ltd.
- Excel Heaters, Wattco
- Elmatic Ltd.
- Powrmatic Ltd.
- Watlow Electric Manufacturing Company
- Dragon Power Electric Co. Ltd.
According to the Report, based on technology, the market is classified into electric-based, steam-based, hybrid-based fuel-based. The electric-based and steam-based heaters are predicted to witness high growth during the forecast period owing to the rising demand for industries. Furthermore, the increasing adoption of process heaters by industries is predicted to accelerate the growth of the market in the foreseeable future. For instance, as per the analytical results, industrial process heating operations accounts or 65% of the manufacturing sector process energy end-use. Moreover, Industries use different types of industrial heaters, depending on temperature, availability, fuel, and others. Additionally, the growing inclination of industries towards enhancing productivity is likely to enable healthy growth of the market in the forthcoming years. Industrial heaters work on different heating process technologies and designs, such as electric-based, fuel-based, steam-based and hybrid process heating technologies. In addition, increasing technological advancement in electric-based, fuel-based, steam-based, and hybrid process heating technologies is expected to spur new growth opportunities for the market in the forthcoming years.
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1. By Technology
2. By Product Type
- Pipe Heaters
- Duct Heaters
- Cartridge Heaters
- Immersion Heaters
- Circulation Heaters
3. By End-Use Industry
- Oil & Gas
- Food & Beverages
- Petrochemical Industry
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
Key Market Driver – Increasing demand for electro-technologies for efficient workflow in the industrial sectors is driving the market.
Key Market Restraint – Environmental policies by governments, high initial costs, and maintenance are the primary factors that are hindering the growth of the market.
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Key Recent Developments –
- October, 2017 – Thermon Group Holdings, Inc. acquired CCI Thermal Technologies Inc., which is a leader in the development of engineered heating and filtration solutions for industrial purposes. This will help Thermon Group in expending its product portfolio, across the globe.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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