Bolt Heaters Market By Type (Gas Bolt Heaters, Electric Bolt Heaters, Flexible Bolt Heaters), By End Use (Oil and Gas, Marine, Power Generation, Food and Plastic Packaging, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global bolt heaters market was valued at $179.4 million in 2021 and is projected to reach $269.4 million by 2031, registering a CAGR of 4.3% from 2022 to 2031.
Bolt heaters are used to tighten big hollow bolts that require a high concentration of heat for expansion. These are put into the hollow bolt and preheats, allowing the bolt to be tightened further. These are commonly used in heavy machinery and equipment to tighten huge bolts and studs. Large bolts may be heated to full expansion in 15-30 minutes using the bolt heaters. Furthermore, bolt heaters are commonly utilized in cylinders, die blocks, turbines, engine heads, big compressors, presses, and pressure vessels.
Growth in the demand for industrial machinery across the globe in various end-use industries is expected to increase the demand for bolt heaters. The increase in the construction of various infrastructures due to rapid industrialization and urbanization is expected to increase the demand for bolt heaters. Ocean shipping is the primary means of global trade, with around 90% of traded products transported across the waves. Maritime transport is one of a larger set of economic activities that can provide economic value. This brings with it both possibilities and problems. Shipping accounts for 2.9% of global greenhouse gas emissions. As global freight demand rises, marine commerce volumes are expected to quadruple by 2050. All such factors positively influence the growth of the bolt heaters market.
Economic progress around the world has led to various changes, such as improvements in life support and health, access to goods and a wide variety of foods, hundreds of millions of jobs created, and others which are particularly noticeable in emerging economies. The backbone of all these developments such as industrialization, and globalization is the energy sector. Being the power source metric of civilization, world energy consumption has profound repercussions for the socioeconomic development of society as energy, population, and urbanization are dependent on each other. The surge in the demand for power has led to an increase in the investment of the government in renewable energy such as wind power. The increase in wind power share in total power generation in most of the developed and developing countries across the globe have driven the demand for wind turbines, hence having a positive impact on the demand for the bolt heaters market. The above-mentioned positive factors are the major reason for the growth of the bolt heaters market.
Bolt heater technology is simple equipment that can be manufactured by any machinery or metal manufacturing industry. The presence of low demand or saturation of the demand for bolt heaters across the globe has led to the low investment of the manufacturers to optimize or innovate new bolt heater equipment. Furthermore, its application in large-scale manufacturing industries such as aerospace, aeronautics, and other processing industries has a great impact on the market, as these manufacturing facilities are unique and are only found in developed regions such as North America, and Europe. The abovementioned factor is expected to hamper the growth of the bolt heaters market expansion during the forecast period.
The bolt heaters market analysis is segmented on the basis of type, application, and region. By type, the market is categorized into gas bolt heaters, electric bolt heaters, and flexible bolt heaters. By end use, it is divided into oil & gas, marine, power generation, food & plastic packaging, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Impact of Covid-19 on Global Bolt Heaters Market
The COVID-19 pandemic led to the temporary long-term halting of manufacturing and construction activities in major economies such as the U.S., Canada, Germany, China, and India. A similar economic decline was witnessed in other countries as well. This decline in manufacturing output and postponing of construction projects deeply hampered the global bolt heaters market.
Competitive Landscape
Key players in the bolt heaters industry Protherm Industries, Durex Industries, Indeeco, Heatrex, Cetal, Bucan Electric Heating Devices Inc., National Plastic Heater Sensor, and Control Inc., Vulcanic TEE, Big Chief Inc., Elektrotermija.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bolt heaters market analysis from 2021 to 2031 to identify the prevailing bolt heaters market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the bolt heaters market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global bolt heaters market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Flexible Bolt Heaters
Gas Bolt Heaters
Electric Bolt Heaters
By End Use
Oil and Gas
Marine
Power Generation
Food and Plastic Packaging
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Indeeco
Cetal
Big Chief Inc.
Bucan Electric Heating Devices Inc.
Heatrex
Vulcanic TEE
Elektrotermija
Durex Industries
National Plastic Heater, Sensor and Control Inc.
Protherm Industries
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