Industrial Heaters Market Overview:
The global Industrial Heaters Market, valued at $1.88 billion in 2023, is projected to reach $2.51 billion by 2030, expanding at a CAGR of 4.2%. The market’s growth is driven by the increasing adoption of energy-efficient heating technologies and strategic mergers and acquisitions (M&A) across key regions including the US, Asia-Pacific, and Europe.
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Key Market Dynamics
Technological Adoption and Energy Efficiency Demand
The demand for industrial heaters is rising due to their critical applications in manufacturing, oil and gas, and process engineering. Advanced heating technologies offering cost-effective and energy-efficient solutions have further fueled market growth.
Key sectors such as semiconductor, plastic, and oil purification industries are increasingly integrating circulation and electric immersion heaters, underscoring their versatile applicability.
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Industrial Heaters Market Segmentation
by Product
Pipe heaters
Immersion heaters
Duct heaters
Cartridge heaters
Circulation heaters
The market for industrial heaters is dominated by the circulation heaters segment:
The compactness of circulation heating for gases and fluids, as well as its suitability for supercritical fluid applications, de-ionized water circulation, inert gas circulation, and general heating applications across the semiconductor, electrical, and electronics industries, contributed to the circulation heaters segment’s 700 million USD valuation in 2023. Additionally, the segment’s main demand driver is the growing use of heat-exchanging mechanisms in the pulp and paper, oil and gas purification, and other industries.
by Technology
Electric based
Steam-based
Hybrid based
by End User
Chemical industry
Oil and gas industry
Plastic industry
Food and beverages industry
Industrial Heaters Market Key Players
1. Wattco
2. Powermatic Ltd.
3. Excel Heaters
4. Elmatic Ltd.
5. Watlow Electric Manufacturing Co.
6. Winterwarm
7. Dragon Power Electric Co. Ltd.
8. Vijay Heat Industries
9. Auzhan Electric Appliances
10.Kantilal Chunilal and Sons Ltd.
11.Ingersoll Rand PLC
12.Uponor Corporation
13.Honeywell international, Inc.
14.Schneider Electric
15.Johnson Controls
16.Emerson Electric Co.
17.Nortek, Inc.
18.Siemens AG
19.Lennox
20.Robert Bosch GmbH
21.EXHEAT
22.Chromalox
23.Omron
24.TPI Corporation
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Industrial Heaters Market Regional Insights
Due to the substantial CAGR of equipment manufacturing in the region, North America currently holds a 38% market share in the worldwide industrial heaters market. Furthermore, the product’s demand is being driven by technology adoptions in the plastic, oil and gas, and chemical industries. Due to the USA’s well-established electricity and semiconductor industries, as well as government improvements to regional transportation infrastructure, the USA accounted for about 5% of the total growth rate during the predicted period. The United States government recently allocated almost $100 billion USD for transportation relief in 2023, which is anticipated to spur regional development.
Due to China’s well-established first-copy manufacture of engineering equipment, the Asia Pacific area is predicted to emerge as the market leader for industrial heaters. Additionally, the market is growing regionally due to the growing trend of technology adoption by projecting businesses in the area. Additionally, the regional governments of China, Japan, Korea, India, and other nations are investing more in process engineering and the production of oil and gas heating equipment throughout the region.
𝗖𝗹𝗶𝗰𝗸 𝗵𝗲𝗿𝗲 𝘁𝗼 𝘃𝗶𝗲𝘄 𝘁𝗵𝗲 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗿𝗲𝗽𝗼𝗿𝘁 𝗶𝗻 𝗳𝘂𝗹𝗹 𝗱𝗲𝘁𝗮𝗶𝗹 – https://www.maximizemarketresearch.com/market-report/global-industrial-heaters-market/101554/
Key questions answered in the Industrial Heaters Market are:
- What is Industrial Heaters?
- What is the growth rate of the Industrial Heaters Market?
- Which are the factors expected to drive the Industrial Heaters market growth?
- What are the different segments of the Industrial Heaters Market?
- What growth strategies are the players considering to increase their presence in Industrial Heaters?
- What are the upcoming industry applications and trends for the Industrial Heaters Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Heaters Market?
Key Offerings:
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
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