Industrial Electric Heating Element Market By Type (Immersion Heaters, Tubular Heaters, Circulation Heaters, Band Heaters, Strip Heaters, Hoil heaters, Flexible Heaters) , By Application (Chemical and Plastics Industry, Oil and Gas, Building Construction, Pharmaceutical Industry, Food Industry) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Industrial Electric Heating Element Market
The industrial electric heating element market was valued at $2.8 billion in 2023 and is projected to reach $4.5 billion by 2032, growing at a CAGR of 5.3% from 2024 to 2032.
Industrial electric heating element is an equipment that makes use of Joule heating method to transform electric energy into heat. Joule heating is the process in which electric current passes through a conductor, resulting in collision between charge carriers and ions of the conductor. Industrial electric heating elements exist in various forms such as coils, rods, tubes, and plates; with the capability to sustain unfavorable environments and high temperatures. Different types of heating elements include ceramic band heaters, immersion heaters, cartridge heaters, flexible heaters, and electrical coil heaters.
Rapid expansion of industrialization and emergence of manufacturing sectors are driving the growth of the industrial electric heating element market. In addition, surge in awareness regarding energy efficiency is boosting the adoption of heating elements over traditional heating methods. This adoption aids industries in regulating their operational costs and augments the market development. With increasing need for precise heating, the development of industrial electric heating elements with heat control ability is acquiring traction. These elements deliver precise temperatures for different industrial processes and are being adopted across several industries, including pharmaceuticals, food processing, and chemical & plastics.
However, continuous operation of heating elements leads to high electricity costs that deters various small-scale organizations from investing in them and hampers the development of the industrial electric heating element market. Furthermore, the presence of competent alternatives such as steam and gas heating restrains the market growth significantly. On the contrary, with rising adoption of automation and IoT integration across industries, the deployment of smart capabilities into heating elements is anticipated to open new avenues for the market. Smart heating elements are projected to reduce the downtime of industries by minimizing errors. As per a report by McKinsey & Company, digitization and automation lead to more than 65% decline in overall deviations in the manufacturing sector.
Segment ReviewThe industrial electric heating element market is segmented into type, application, and region. On the basis of type, the market is divided into immersion heaters, tubular heaters, circulation heaters, band heaters, strip heaters, coil heaters, and flexible heaters. Depending on application, it is classified into chemical & plastics industry, oil & gas, building construction, pharmaceutical industry, and food industry. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key FindingsOn the basis of type, the immersion heaters segment is expected to dominate the market during the forecast period.
Depending on application, the chemical & plastics industry segment is projected to be the highest shareholder throughout the forecast period.
Region wise, Asia-Pacific is anticipated to be the highest revenue generator by 2032.
Competition AnalysisThe leading players operating in the global industrial electric heating element market include Watlow Electric Manufacturing Company, Chromalox, Inc., Honeywell International Inc., THERMCRAFT, INC. (AECO Corp.), Tempco Electric Heater Corporation, Omega Engineering Inc, NIBE Industrier AB, Durex Industries, Inc., Tutco Heating Solutions Group, and Indeeco Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeImmersion Heaters
Tubular Heaters
Circulation Heaters
Band Heaters
Strip Heaters
Hoil heaters
Flexible Heaters
By ApplicationChemical and Plastics Industry
Oil and Gas
Building Construction
Pharmaceutical Industry
Food Industry
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Chile
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Nigeria
Rest of Middle East and Africa
Key Market PlayersWatlow Electric Manufacturing Company.
Chromalox, Inc.
Honeywell International Inc.
THERMCRAFT, INC. (AECO Corp.)
Tempco Electric Heater Corporation
Omega Engineering Inc
NIBE Industrier AB
Durex Industries, Inc.
Tutco Heating Solutions Group
Indeeco Corporation.