Industrial Heaters Market Competitive Analysis, Segmentation and Opportunity Assessment 2029

1.9.2023: Industrial Heaters Market witnessed significant growth in 2022, with a valuation of US$ 1.81 billion

Report Scope and Methodology:

Report Scope:
The report offers a comprehensive analysis of the global Industrial Heaters Market, including market values, scope, research methodology, drivers, restraints, and regional insights. It explores various aspects of the industry, including key players, market dynamics, and competitive analysis.

Research Methodology:
The report employs a robust research methodology, incorporating data analysis and industry expertise. It presents complex data in an easily understandable language, ensuring a clear understanding of market trends, opportunities, and challenges.

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What are Industrial Heaters Market Dynamics?

Key Drivers:
The market's growth is driven by rising energy consumption demands across sectors like manufacturing, oil and gas, and others. These demands are coupled with the need for energy-efficient solutions, primarily due to pricing concerns. Industrial heaters play a crucial role in material conversion and various process and equipment engineering applications, contributing to their increasing demand.

Key Restraints:
While industrial heaters offer affordability and energy consumption reduction, certain limitations exist. Electric heaters, for instance, pose risks when used to heat air and wet rooms, limiting their application.

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Industrial Heaters Market Segmentation?

Type of Industrial Heater:

Circulation Heaters: These heaters are designed for heating gases and fluids and are ideal for applications involving supercritical fluids, de-ionized water circulation, and inert gas circulation, among others.
Duct Heaters: Duct heaters are used primarily in refining industries and for heating in various industrial applications.
Technology Used:

Electricity-Based Technology: This segment includes electric immersion heaters and strip heaters, which are in direct contact with the fluid for efficient heating.
Steam-Based Technology: Heaters that use steam as a heat source for industrial processes.
End-Use Industry:

Manufacturing: Industrial heaters used in manufacturing processes across various industries.
Oil and Gas: Heaters used in oil and gas processing and heating applications.
Chemical Industry: Industrial heaters utilized in chemical manufacturing and processing.

Who are Industrial Heaters Market Key Players?

1. Wattco
2. Powermatic Ltd.
3. Excel Heaters
4. Elmatic Ltd.
5. Watlow Electric Manufacturing Co.
6. Winterwarm
7. Dragon Power Electric Co. Ltd.
8. Vijay Heat Industries
9. Auzhan Electric Appliances
10.Kantilal Chunilal and Sons Ltd.
11.Ingersoll Rand PLC
12.Uponor Corporation
13.Honeywell international, Inc.
14.Schneider Electric
15.Johnson Controls
16.Emerson Electric Co.
17.Nortek, Inc.
18.Siemens AG
19.Lennox
20.Robert Bosch GmbH
21.EXHEAT
22.Chromalox
23.Omron
24.TPI Corporation

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Regional Insights:

North America: Dominates the global market with a 38% market share, driven by substantial equipment manufacturing and technological adoptions in sectors like chemical, oil and gas, and plastics.
Asia Pacific: Emerging as a significant region, with China leading the way in manufacturing engineering equipment. Increased technology adoption and government investments in oil and gas heating equipment contribute to growth.
Europe: Expected to experience a CAGR of approximately 5.2%, driven by the demand for efficient engineering equipment and technology adoption in heating processes.
MEA and GCC: These regions are poised for growth due to strong adoption of industrial heaters, high manufacturing capabilities, and improvements in oil and gas infrastructure.

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