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Crude Heater Market

Crude Heater Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

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
Crude Heater Market

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