Press release
Global Electric Heater market size will reach US$ 11,802.0 million by 2025
The Global Electric Heater market size will reach USD 11,802.0 million by 2025 growing at a CAGR of 4.5% during the forecast period. The factors driving the electric heater market size are increase in demand for electric heaters, and increase in demand for clean energy, demand for smart residential and growing demand in emerging economies.Download Key Insights@https://www.supplydemandmarketresearch.com/home/contact/65525?ref=Sample-and-Brochure&toccode=SDMREL65525
In 2019, the electric heater market is dominated by North America followed Europe and Asia Pacific. The North American is majorly dominated by USA, followed by Canada and Mexico. The electric heater scenario in the USA shows significant growth due to the increase in the development of new energy-saving technologies and green initiatives by the government. The USA primarily focused on the reduction of combustion of wood and fossil fuels, no carbon monoxide and indoor air quality. The presence of pharmaceutical, plastics, transportation and appliances contributes to the growth of the electric heater in this region. The presence of major players such as Watlow, Tempco Electric Heater Corporation leverages the electric heater market.
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The Electric Heater market is a fragmented market as the top 5 players contribute approx. 19% of the total market. The major players in the electric heater market are NIBE, OMEGA, Watlow, Tutco, Chromalox, Tempco Electric Heater Corporation, CCI Thermal Technologies, Minco, Industrial Heater Corporation, Durex Industries, Friedr. Freek GmbH, Delta MFG, Thermal Corporation, Akinsun Heat Co., Inc., Hotset GmbH, Wattco, Ulanet, BUCAN. In October 2017, the Thermon Group Holdings acquired CCI Thermal Technologies, Inc. (Canada). CCI is a worldwide leader in development and production of advanced heating and filtration solutions for industrial and hazardous area applications. CCI's business to date has been focused on serving customers' heating and filtration solutions for industrial and hazardous area applications primarily in North America.
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