Fired Heaters Market Analysis, Size, Share, Trends & Growth Projections Studied during 2018-2028 || Key Players - AbsolutAire Inc., TechEngineering S.r.l., Optimized Process Furnaces Inc., G.C. Broach Company

The Fired Heaters Market research study that provides market values and forecasts for the market is based on the upheld and validated research methodology that involves the extensive primary and secondary researches. The established industry experts and analysts at Fact.MR have validated the data gathered through research on the fired heaters market, which added to the credibility of the report. The fired heaters market acts as a vital business tool that authentic source of information for both established as well as emerging players in the fired heaters market. With the help of this business tool, the stakeholders are able to take key decisions and formulate long-term growth strategies for the growth of their business.

Fired Heaters Market in Numbers:

The fired heaters market registered a value CAGR of over 5% during the period, 2013 to 2017. The fired heaters industry has been significantly influenced by the various open and seamless trade agreements among established players and vendors worldwide.
The fired heaters market was valued at over US$ 770 Mn in 2018, and is estimated to record approximately 6% Y-o-Y in 2019.
East Asia will continue to remain the leading market for fired heaters. . China continues to remain attractive, and accounts for 70% sales of fired heaters in East Asia. As China is home to numerous chemical and petrochemical process equipment facilities, the market players continue to focus on strengthening their distribution and optimizing the supply chain to leverage the growth potential in the country.
South Asia will remain the high-growth market for fired heaters, underpinned by the lucrativeness of key countries such as India where manufacturing and production facilities of chemical & petrochemical products & equipment are likely to grow in the near future.
A key trend gaining significant momentum in the fired heaters market is the preference for tailor-made fired heaters, designed by considering the specific requirements of clients.


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What are Key Factors Driving Growth of the Structured Cabling Market?

Recent studies indicate that the global energy demand witnessed a marked uptick, with natural gas gaining traction as the fuel of choice - accounting for over two-fifth share of energy consumption. Fired heaters play a vital role in the natural gas-fired furnaces in the energy & power sector, which in turn continues to uphold their demand.
Expansion of petrochemical and chemical industry has created massive demand for machinery and equipment in use in these industries, which in turn has driven the adoption of fired heaters for improving the combustion performance.
The companies in end-use sectors are looking for more optimized and efficient equipment for the purpose of heating various hydrocarbons, and fired heaters witnessed sustained demand for efficient provision of energy to these processes.
Key developments and approaches to control carbon emission in industries has shifted focus of end-users to adoption of fired heaters with closed combustion systems, as these allow conveyance of the combustion air from the surrounding. . The use of such fired heaters helps save-up on energy, thereby enabling cost-optimization for end-users and driving sales.
The control and measurement viewpoints applied in fired heaters are being evaluated on a large scale. Implementation of new control philosophies that combine advanced data analytics, combustion expertise, and new measurement technologies, have paved new opportunities for fired heater manufacturers to leverage technology6 advances and enhance heater performance.
Fired Heaters Market - Key Restraints

Manufacturers of fired heaters are expected to adhere to certain regulatory standards imposed by international regulatory bodies. The regulations pertaining to material used for lining fired heaters are most crucial, making manufacturers to fetch for sustainable alternatives.
The complex and large profile of fired heaters make it essential for professional installation, resulting in additional costs to the end users. In addition, the relatively greater maintenance costs add to the expenses of fired heater deployments, which in turn continues to hinder adoption of fired heaters.
The global fired heaters market is characterized by a mix of consolidation of high-end solutions, and fragmentation of low end products. The top five companies collectively account for leading shares of the fired heaters market. Product innovation, development of industry-specific solutions, and expansion in proliferating regional markets, are some of the key growth strategies of leading players in the fired heaters market.

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Investment into new product developments by fired heater manufacturing giants have witnessed a marked rise in the recent past, owing to the expanding application scope of fired heaters. These players are also focusing on discovering new materials and innovations in processes, to save on cost while focusing on sustainability.

Process-specific development of fired heaters is another key focus area of the market players that has gained emphasis recently, in line with growing number of contracts between manufacturers and end users for delivering customized, tailor-made solutions, which has further led to widening application scope of the fired heaters as a consequence. The opportune potential of East Asian and South Asian markets has traditionally been strong for players in the fired heaters market, and the status-quo is expected to prevail in the near future, as more manufacturers invest into erecting manufacturing facilities in the region to cater growing demand.

Key players operating in the fired heaters market, as profiled in the study, include AbsolutAire, Inc., TechEngineering S.r.l., Optimized Process Furnaces, Inc., G.C. Broach Company, Thermax, Exotherm Corporation, Amec Foster Wheeler, Sigma Thermal, Hetsco Inc., Unit Birwelco Group, and Boustead International Heaters Ltd.

Against the backdrop of emerging emission control requirements coupled with the increasing demand for cost-effective equipment in industries, end-use sectors are preferring direct-fired heaters, owing to relatively greater cost-effectiveness, durability, and application diversity. In addition, as end users look for greater efficiency in their heating processes, direct-fired heaters are gaining utmost preference in light of their capability to attain 100% efficiency.

According to the study direct-fired heaters are estimated to account for over 75% sales. Companies operating in the fired heaters market continue to explore new ways to cash in on growing customer inclination towards direct-fired heaters, formulating key strategies such as collaborations and new product development. Direct-fired heaters that deliver high air volume in proportion to the heat output are key developments of the market players in the recent past for gaining a competitive edge.

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