Industrial Heater Market Size & Share, by Technology (Electric, Oil, Solid, Gas); Capacity (Low, Medium, High); Product (Pipe, Duct, Cartridge, Immersion, Circulation); Application (Oil & Gas, Chemical, Food and Beverage, Manufacturing, Automotive)-Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6036
  • Published Date: May 16, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

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%.


Industrial Heater Market overview
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Industrial Heater Market: Growth Drivers and Challenges

Growth Drivers

  • Growing focus on environmental sustainability - Reducing the environmental impact of industrial heating can also be achieved by using industrial heaters, which are a more sustainable choice since they consume less energy and emit fewer greenhouse gases.

    In 2023, more than 55% of businesses began utilizing more environmentally friendly resources, such as recycled materials and goods with reduced emissions.
  • Expanding oil and gas industry - One of the most crucial components in the heating of gas and oil is the industrial heater, which is an incredibly effective appliance that delivers substantial amounts of immediate heat where it's needed.

    As per the International Energy Agency, the oil and gas industry's average return on capital between 2010 and 2022 was between 6 and 9%.
  • Growing sales of automobiles - The automotive sector is expanding rapidly, which will bolster demand for car heaters to satisfy the needs of manufacturing processes at high temperatures, and to enhance the engine's cold starting performance. Global auto sales increased from around 66 million vehicles in 2021 to over 67 million vehicles in 2022.

Challenges

  • Stringent rules and regulations - For many establishments and businesses, industrial heating is necessary, however, installation of industrial heating systems may be subject to legal or construction regulations that contribute to an appliance's reasonable level of safety.

    Respecting the heater standards and regulations established by industry associations and regulatory agencies is essential to ensuring the safe operation of heaters, which are made to protect people and their belongings from any risks that could arise from using heaters. Moreover, adhering to these standards can pose a challenge for the heater producers since it can be time-consuming and resource-intensive.
  • Fluctuating cost of raw materials - Volatility in prices of raw materials such as steel, and aluminum can lead to supply chain disruptions causing production delays and impacting the overall production costs.

Industrial Heater Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6%

Base Year Market Size (2023)

USD 6 Billion

Forecast Year Market Size (2036)

USD 10 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Industrial Heater Segmentation

 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:

          Technology

  • Electric
  • Oil
  • Solid
  • Gas

          Capacity

  • Low
  • Medium
  • High

          Product

  • Pipe
  • Duct
  • Cartridge
  • Immersion
  • Circulation

          Application

  • Oil & Gas
  • Chemical
  • Food and Beverage
  • Manufacturing
  • Automotive 

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Industrial Heater Industry-Regional Synopsis

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.

Research Nester
Industrial Heater Market size
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Companies Dominating the Industrial Heater Market

top-features-companies

    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.

    • Powrmatic Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Excel Heaters
    • Elmatic Ltd.
    • Dragon Power Electric Co. Ltd.
    • Vijay Heat Industries
    • Laars Heating Systems
    • AUZHAN ELECTRIC APPLIANCES (SHANGHAI) CO., LTD.
    • Kantilal Chunilal and Sons Ltd.
    • Ingersoll Rand Inc.
    • Carver Group
    • Watlow Electric Manufacturing Co.
    • Winterwarm

In the News

  • Carver Group announced the acquisition of a leading manufacturer and distributor of industrial and commercial heating, ventilating, and air conditioning (HVAC) equipment, Powrmatic Limited to enhance its standing in the HVAC industry and to seize future expansion prospects in both domestic and international export markets.

    In addition, Carver's manufacturing capacity is increased by the acquisition of a fourth production plant, which will enable them to provide their clients with a wider range of products and solutions.
  • Laars Heating Systems a manufacturer of boilers, water heaters, and pool heaters used in residential, commercial, and industrial applications announced the acquisition of Electro Industries, Inc. to broaden its offering for heating homes, businesses, and industrial spaces, for meeting customers' expanding needs as state and local electrification laws and regulations continue to change across North America. 

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 6036
  • Published Date: May 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of industrial heater was over USD 6 billion.

The market size for industrial heater is projected to cross USD 10 billion by the end of 2036 expanding at a CAGR of 6% during the forecast period i.e., between 2024-2036.

The major players in the market are Excel Heaters, Elmatic Ltd., Dragon Power Electric Co. Ltd., Vijay Heat Industries, Laars Heating Systems, AUZHAN ELECTRIC APPLIANCES (SHANGHAI) CO., LTD., Kantilal Chunilal and Sons Ltd., Ingersoll Rand Inc., and others.

In terms of technology, the gas segment is anticipated to account for the largest market share of 47% during 2024-2036.

The North American industrial heater sector is poised to hold the highest share of 40% by 2036.
Industrial Heater Market Report Scope
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