Industrial heaters are equipment used to increase the temperature of an industrial object or process. Technological advancement has created exciting new opportunities for manufacturers of industrial heaters. A major factor influencing the industrial heaters market is the rising demand for energy-efficient products. Growing energy consumption in the industrial and residential sectors is expected to fuel the demand for industrial heaters to decrease the cost of operation and enhance energy savings.
Factors such as affordable pricing and high efficiency are likely to fuel the demand for industrial heaters during the forecast period. Advancement in electro-technologies has significant potential to improve productivity and reduce consumption of energy, which is projected to drive the demand for industrial heaters in the near future. Moreover, low operational and maintenance cost of industrial heaters is boosting the growth of the market.
Growth in various industries, such as, oil & gas, food, chemical, and plastic industries is propelling the demand for industrial heaters across the world. Rise in industrialization and urbanization has generated high demand for automobiles, which in turn, is likely to increase the demand for oil and fuel. This is expected to drive the growth of the industrial heaters market. Moreover, rise in consumption of packed food and beverages, leading to high demand for plastic, is projected to augment the demand for industrial heaters during the forecast period.
In order to reduce maintenance and operational costs and to save energy, industrial buyers are using modern heating equipment instead of conventional method of manufacturing, which is likely to drive the demand for industrial heaters in the next few years. Owing to various factors such as high competition and cost structure manufactures of various industries are bound to use modern method of manufacturing instead of conventional method boost the demand for global industrial heaters market as it save energy and leads to decrease the manufacturing cost. Industrial heater are useful for consumption of energy and improve operational efficiency.
The use of duct heaters is limited due to their incapability to heat wet rooms and requirement of safeguards to ensure fire safety measures are hindering the growth of the global industrial heaters market.
The global industrial heaters market can be segmented based on technology, product type, end-user industry, and region. In terms of product type, the market can be divided into pipe heaters, duct heaters, cartridge heaters, circulation heaters, and immersion heaters. On the basis of technology, the industrial heaters market can be classified into steam-based, electricity-based, and hybrid based. In terms of end-user industry, the industrial heaters market can be categorized into plastic, chemical, oil & gas, and food.
Based on region, the global industrial heaters market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the global market, in terms of market share, due to technological advancement and rapid growth of industries in the region. A significant increase in the CAGR of the industrial heaters market in Western Europe is expected due to end of recession in the region. Asia Pacific is expected to dominate the market in terms of growth rate due to growing urbanization industrialization in countries, such as, India and China. Middle East & Africa is expected to hold potential share of the global industrial heaters market due to the presence of a large number of oil & gas companies in the region.
Major players operating in the global industrial heaters market include Excel Heaters Elmatic (Cardiff) Ltd., Watlow Electric Manufacturing Company, Kantilal Chunilal & Sons Appliances Private Ltd., Auzhan Electric Appliances (Shanghai) Co. Ltd., Vijay Heat Industries, Dragon Power Electric Co. Ltd., Winterwarm, Powrmatic Ltd, and Wattco.
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