Industrial Heater Market Forecasts to 2030 – Global Analysis By Product Type (Duct Heater, Immersion Heater, Circulation Heater, Pipe Heater, Cartridge Heater and Other Product Types), Technology, End User and By Geography

Industrial Heater Market Forecasts to 2030 – Global Analysis By Product Type (Duct Heater, Immersion Heater, Circulation Heater, Pipe Heater, Cartridge Heater and Other Product Types), Technology, End User and By Geography

According to Stratistics MRC, the Global Industrial Heater Market is accounted for $35.8 billion in 2023 and is expected to reach $55.77 billion by 2030 growing at a CAGR of 6.5% during the forecast period. An industrial heater is a tool used to provide heat for a range of industrial settings, applications, and operations. These heaters regulate temperatures, stimulate chemical reactions, supply warmth, and guarantee that machinery and equipment operate as intended across a broad spectrum of industries. A number of parameters, including the particular application, the kind of material being heated, the necessary temperature levels, and efficiency concerns, must be taken into account when choosing an industrial heater. Industrial heaters are essential for guaranteeing product quality, preserving ideal working conditions in a variety of industrial processes, and raising overall energy efficiency.

According to International Heavy Equipment Manufacturers Association, industrial heaters accounted for approximately 74% of total industrial manufacturing and process energy engineering.

Market Dynamics:

Driver:

Expanding use of coatings based on nanotechnology

The use of technology in industrial heaters frequently results in heating processes that are more optimized and efficient. Smart controls, automation, and sensors are examples of cutting-edge technology that can improve the overall energy efficiency of heating systems. By using predictive maintenance solutions, producers may reduce unexpected downtime and enable proactive maintenance by foreseeing possible problems with industrial heaters. This raises the general dependability of the device. Furthermore these innovative technologies may reduce pollutants, maximize fuel efficiency, and integrate greener and more sustainable energy sources to help industrial heaters adhere to environmental requirements.

Restraint:

Availability of alternative heating methods

The market is more competitive when alternative heating techniques are available thus industrial heater producers may find it difficult to increase or hold onto market share, particularly if substitute techniques are well-recognized and extensively used. Certain sectors could have a traditional outlook and favour tried-and-true conventional heating techniques. It can be difficult to persuade such companies to switch to newer, more efficient technology. Industries that have access to alternate heating techniques might be sensitive to cost and adoption of industrial heaters may be adversely affected if the initial outlay or operational expenses are seen to be greater than those of alternatives thereby impeding the market growth

Opportunity:

High affordability and low price range

Affordable industrial heaters increase market accessibility for small and medium-sized businesses (SMEs) and other clients and a bigger consumer base and more market penetration may result from this. The market's overall growth may be aided by the affordability aspect and the market for industrial heaters may expand as more companies become able to afford to buy them, opening doors for suppliers and manufacturers. Cost-effective industrial heater producers might have an edge over rivals, particularly in regions where consumers are price conscious. Increased market share and brand awareness may result from this which create wide range of opportunities for the market growth.

Threat:

High capital expenditure

The typical lifespan of a heater is around 10 to 15 years. The main producers of these heaters take a lot of safety precautions to guarantee their long-term correct operation. They provide premium glass tanks and chemically coated tanks that are outfitted with premium corrosion-resistant tubing and piping. Industrial heater producers employ premium materials and manufacturing techniques, which raises the cost of production. They also need highly experienced workers and sophisticated equipment to make their products.

Covid-19 Impact

The market for industrial heaters is one of the many businesses that have been significantly impacted by the COVID-19 outbreak. Depending on variables including the industry served, the region, and the particular uses of industrial heaters, the impact's scope and character have changed. The end-user industries have a significant impact on the success of the industrial heaters market and the need for industrial heating equipment was impacted by major downturns in industries including oil and gas, aircraft, and automobiles.

The circulation heater segment is expected to be the largest during the forecast period

The circulation heater segment is estimated to have a lucrative growth, as these circulation heaters is made to effectively heat liquids or gases as they move through a closed circuit. When precise and regulated heating is needed, these heaters are frequently employed in a variety of industrial operations. Circulation heaters contribute to the general functioning and efficiency of industrial processes by providing accurate and effective heating solutions in a variety of industrial applications. The application-specific criteria, such as the kind of fluid or gas being heated, flow rates, requirements for temperature control, and ambient operating conditions, all play a role in the circulation heater selection process drive the growth of the market.

The fuel based segment is expected to have the highest CAGR during the forecast period

The fuel based segment is anticipated to witness the highest CAGR growth during the forecast period, because these heaters are frequently utilized in industrial environments to offer space heating, process heating, and other uses where burning fuel is a useful and effective way to produce heat. Fuel-based heaters are made to efficiently produce heat from fuel energy thus the total energy efficiency is enhanced via combustion systems and high-efficiency burners. Moreover, certain fuel-based heaters may be effortlessly transferred to new areas because of their portable nature. This function is useful for temporary heating needs, activities held outside, and building sites which boost the growth of the market.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising usage of energy-efficient goods and renewable energy, Asia Pacific is anticipated to lead the commercial water heaters market over the forecast period. A.O. Smith Corporation, Rinnai Corporation, RHEEM Manufacturing, and Ariston Thermo are a few of the top manufacturers of commercial water heaters, and they have operations in China, India, and Malaysia. Many developing economies, including those of China, India, Singapore, and Malaysia, are found in the region. Investments in the business sectors of these economies are rising.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to demand is directly correlated with North America's total industrial activity. Factors such as factory production, building activity, and economic situations might influence the need for industrial heating solutions. An important factor in the need for industrial heaters is the energy industry. Industrial heaters are frequently needed for a variety of operations in industries including oil and gas, power generation, and renewable energy. The kinds of industrial heaters that companies choose to use might be influenced by energy efficiency requirements and environmental laws propel the growth of the market in this region.

Key players in the market

Some of the key players profiled in the Industrial Heater Market include Rheem Manufacturing Company, Stiebel Eltron, Valliant Group, Andrewes Water Heaters, Daikin , Mitsubishi Electric, Andrewes Water Heaters, Rinnai Corporation, A.O. Smith Corporation, Solahart Industries, Carrier Global, Danfoss, American Water Heaters, Honeywell international, Inc., Siemens AG, Robert Bosch GmbH, Omron, Excel Heaters, Elmatic Ltd. and Dragon Power Electric Co. Ltd.

Key Developments:

In November 2023, Siemens and Elvia partner to increase grid capacity in parts of Norway by 2030 with SaaS solution. Partnership will enable future-proof distribution grid management in Norway, one step further on the journey towards autonomous grids

In October 2023, Bosch announced the launch of New Bosch repair set for high-voltage batteries allows outworn battery modules to be replaced. Five-year warranty for entire repair set following replacement of all high-voltage battery modules

In September 2023, OMRON, a global leader in factory automation including Industry 4.0 solutions has announced the launch of MD-650 autonomous mobile robot (AMR) that provides greater efficiency at production sites.

Product Types Covered:
• Duct Heater
• Immersion Heater
• Circulation Heater
• Pipe Heater
• Cartridge Heater
• Other Product Types

Technologies Covered:
• Steam Based
• Electric
• Hybrid
• Fuel Based
• Other Technologies

End Users Covered:
• Metal & Mining
• Oil & Gas
• Chemical
• Plastic Industry
• Food & Beverages Industry
• Pharmaceutical
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements