Industrial Heater Market size was valued at USD 6 Billion in 2023 and is predicted to exceed USD 10 Billion by the end of 2036, registering over 6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of industrial heater is assessed at USD 6.54 Billion.
The market is growing as a result of the rising demand for food across the globe, leading to extensive usage of industrial heaters since heat may be needed during food processing, beverage preparation, product packing, and product storage processes. As per estimates from the Food and Agriculture Organization, to feed the 9.1 billion people that will inhabit the planet by 2050, total food production would need to increase by about 70%.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6% |
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Base Year Market Size (2023) |
USD 6 Billion |
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Forecast Year Market Size (2036) |
USD 10 Billion |
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Regional Scope |
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Technology (Electric, Oil, Solid, Gas)
Gas segment is projected to account for around 47% industrial heater market share by 2036. It is anticipated that by 2025, there will be more than 170,000 warehouses worldwide, owing to the growth of e-commerce.
A tubular heat exchanger receives hot exhaust gas from a burner in a gas air heater that warms the surrounding air in sizable industrial and commercial spaces using a gas burner. For heating large, open rooms, commercial gas heaters are an excellent option and are more affordable, dependable, and efficient as compared to electric heaters. Large areas make up warehouses and industrial structures which necessitate the use of gas industrial heaters, which are essential to keep warehouses and industrial areas warm and cozy. Moreover, it might be difficult to heat warehouses in the winter, which makes gas-fired unit air heaters ideal for these settings.
Additionally, heat is produced by the conversion of electrical energy in electric industrial heaters, which are employed in many different operations when raising an object's or process's temperature is necessary in vast locations such as factories, garages, warehouses, and more where gas is either unavailable or not a chosen option.
Application (Oil & Gas, Chemical, Food and Beverage, Manufacturing, Automotive)
Over the forecast period, the chemical segment in the industrial heater market is estimated to record a significant CAGR. Immersion heaters are essential in many chemical industry processes because they provide accurate temperature control, improve the execution of chemical reactions, and aid in separation procedures to ensure optimal reaction kinetics and product quality.
Furthermore, industrial heaters are indispensable in the chemical sector as they enable the purification and isolation of chemical compounds with high accuracy. Industrial heaters find widespread use in heating utilities within chemical plants for heating air streams for drying applications and preheating feedstock.
Chemical industries require consistent temperature maintenance to ensure that chemicals and liquids remain in their proper state. Many processes and components in these industries rely on heat, such as molded and extruded components, steam heating, and so on. Thus, there is a significant need for industrial heaters in this area, resulting in industrial heater market growth. As per estimates, in 2022, the worldwide chemical industry's total revenue was more than USD 6 trillion.
Product (Pipe, Duct, Cartridge, Immersion, Circulation)
The duct segment in the industrial heater market is likely to generate substantial revenue of USD 3.5 billion by 2036. The growth can be attributed to the rising demand for HVAC systems. Industrial duct heaters come in various varieties and configurations and are an essential part of HVAC systems that are made to offer regulated and effective heating in commercial and industrial environments.
According to the International Energy Agency, by 2050, there will be 5.6 billion air conditioners in buildings worldwide, up from 1.6 billion at present.
Our in-depth analysis of the industrial heater market includes the following segments:
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Technology |
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Capacity |
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Product |
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Application |
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North American Market Statistics
North America region in industrial heater market is poised to dominate around 40% revenue share by the end of 2036. The market growth in the region is expected on account of growing industrial activities. The North American manufacturing industry is expected to expand as a result of regional specialties and industrial growth across a wide range of sectors.
The United States' manufacturing activity grew at its quickest rate since 2022, leading to higher demand for industrial heaters owing to their diverse uses in a range of industries, including manufacturing, food, and others. According to estimates, more than 9% of global economic production, or around USD 2 trillion, came from the highly diversified US manufacturing sector in 2023.
Moreover, the goal of the National Research Council Canada (NRC) and Natural Resources Canada (NRCan) is to find low-cost, low-carbon industrial heating technologies that will reduce carbon emissions to help the country move closer to its net-zero emissions goals, which may drive industrial heater market demand in Canada. The Canadian government committed to achieving net zero emissions by 2050 with the introduction of the Canadian Net-Zero Emissions Accountability Act in December 2020, which also includes a USD 15 billion plan with 64 initiatives aimed at achieving the country's 2030 target.
APAC Market Analysis
The Asia Pacific region will also encounter huge revenue for the industrial heater market during the forecast period owing to the increasing urbanization. The region is undergoing a significant change owing to an unparalleled surge in its urban population driven by factors including employment opportunities, educational institutions, and urban lifestyle. This may drive the need for industrial heaters in the region.
As of 2023, cities were home to more than 60% of China's population. Furthermore, industrial heating is the primary source of energy consumption in China's industrial sector, with industrial heaters used in a variety of procedures to increase the temperature of an object or process.
South Korea is becoming more industrialized, with exceptional economic success and global integration over the last four decades, which may increase industrial heater market demand.
Besides this, to maintain a secure workplace while increasing output and efficiency, Japanese companies are also investing in robotic process automation, leading to an increase in the nation's need for industrial heaters. Compared to around 45% in the US, Japan has an overall automation potential of more than 50% of hours worked.
To compete in the business, the major players in the industrial heater market are concentrating on economies of scale, brand recognition, technological advances, and marketing strategies.
Author Credits: Richa Gupta
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