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Crude Heater: Introduction

  • Crude heater refers to a heating system used to heat crude oil before the first stage of compression. Crude heaters reduce the viscosity of some kinds of crude oils by preheating the material to generate easy flow. Furthermore, they possess better separation properties as well as improve the fluidity of the crude oil.

Key Drivers and Restraints of Crude Heater Market

  • Rise in demand for durable and efficient crude heating systems in the oil & gas industry is likely to drive the global crude heater market during the forecast period. Crude heater reduces the viscosity of crude oil, thereby improving the separation performances of crude oil. This feature makes its adoption attractive in the oil & gas industry.
  • Consumption of petroleum products has been increasing significantly across the globe due to rapid industrialization and urbanization. Constant rise in demand for refined products in several end-use industries has boosted investments in the expansion and construction of refinery facilities. This, in turn, is estimated to propel the demand for crude heaters during the forecast period. For instance, in March 2018, IOCL announced plans to invest US$ 3.3 Mn in the expansion of Vadodara refinery in India.
  • Technological innovations in designing of crude heating systems to improve operational efficiency are also projected to propel the global crude heater market

Downstream Sector Application Segment to Hold Major Share of Global Market

  • The global crude heater market can be segmented based on application
  • In terms of application, the global crude heater market can be divided into upstream sector and downstream sector. The downstream sector segment is anticipated to expand significantly during the forecast period due to the increase in investments in petroleum product refining facilities. Crude heater is used to reduce the viscosity of crude oil deposits in order to improve the product yield in refineries. This is anticipated to augment the crude heater market.

COVID-19 Impact Analysis

Rapid transmission of the coronavirus is significantly impacting the demand for crude oil. Demand for petroleum products has decreased considerably in several end-use industries. This is expected to hamper the demand for crude heaters, as crude heaters are used to improve the fluidity of the crude oil in upstream and downstream sectors of the oil & gas industry.

Asia Pacific Crude Heater Market to Expand Rapidly

  • In terms of region, the global crude heater market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The crude heater market in North America is expected to expand at a significant pace during the forecast period owing to the increase in investments in exploration and production of shale gas in the region
  • The crude heater market in Europe is projected to expand during the forecast period due to ongoing investments in upgrade and expansion of the existing refining facilities
  • The market in Asia Pacific is anticipated to expand at the faster CAGR than that in other regions during the forecast period due to the increase in capital spending in development of refineries, primarily in South Korea, India, and China. For instance, in October 2020, India announced plans to invest US$ 6 Bn in building a petroleum refinery in the Thanlyn region near Yangon, Myanmar. Rise in demand for petroleum products in end-use industries, including chemical and manufacturing, is a key factor propelling investments in expansion and construction of refining facilities.
  • The crude heater market in Latin America and Middle East & Africa is projected to expand at a sluggish pace during the forecast period due to the rise in demand for crude oil heating systems to improve the fluidity of the crude oil in the upstream sector. Highly viscous reservoir fluids are resistant to being pumped from the discovery site to the well surface. Heaters reduce the viscosity of crude oil deposits to improve product yield. This is anticipated to boost the crude heater market in Latin America and Middle East & Africa.

Key Players Operating in Global Market

Leading companies operating in the global crude heater market include:

  • Exotherm Corporation
  • American Heating Company, Inc.
  • Pirobloc, S.A.
  • C. Broach Company
  • Thermotech Systems Ltd.
  • Chromalox, Inc.
  • Garcem Engineers

Global Crude Heater Market: Research Scope

Global Crude Heater Market, by Application

  • Upstream Sector
  • Downstream Sector

Global Crude Heater Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Norway
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Thailand
    • Indonesia
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Iran
    • Kuwait
    • Oman
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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