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Industrial Heaters Market was valued at US$ 1.88 Bn. in 2023 and it is expected to reach US$ 2.51 Bn. by 2030 at a CAGR of 4.2% during the forecast period.<br><br>Learn More :https://www.maximizemarketresearch.com/market-report/global-industrial-heaters-market/101554/
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Industrial Heaters MarketGlobal Analysis Report 2024-2030 Published by: Rajnandini, Research Analyst
Market Size & Overview: The Industrial Heaters Market was valued at approximately USD 1.88 billion in 2023 and is projected to reach around USD 2.51 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period. Industrial heaters are essential for converting electrical or steam energy into thermal energy, facilitating processes like heat tracing of pipes, oil lubrication heating, and hot forging across various manufacturing sectors.
Market Growth & Opportunities The market's growth is primarily driven by the rising energy consumption in sectors such as manufacturing and oil and gas, coupled with a demand for energy-efficient solutions due to pricing concerns. Industrial heaters are integral in reducing energy consumption and operational costs, making them appealing to equipment manufacturers. Additionally, the trend towards automation and technological advancements in equipment processing has bolstered the adoption of industrial heaters. Sample Request
Market Segmentation by End User • Chemical industry • Oil and gas industry • Plastic industry • Food and beverages industry by Product • Pipe heaters • Immersion heaters • Duct heaters • Cartridge heaters • Circulation heaters by Technology • Electric based • Steam-based • Hybrid based
Regional Analysis: • North America: This region has a well-established industrial base, leading to a consistent demand for industrial heaters. The focus on energy efficiency and modernization of manufacturing facilities contributes to market growth. • Europe: Stringent environmental regulations and a strong emphasis on sustainable manufacturing practices drive the adoption of energy-efficient industrial heaters in this region. • Asia-Pacific (APAC): Rapid industrialization, especially in countries like China and India, has led to increased demand for industrial heaters. The expansion of the manufacturing sector and infrastructural developments are key contributors to market growth in APAC.
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Merges and Acquisition • Siemens' Acquisition of Amprius Technologies (March 2023): Siemens acquired Amprius Technologies, a developer of solid-state batteries. While not directly related to industrial heaters, this investment indicates Siemens' growing interest in high-performance energy solutions, which could influence heating technologies in the future. • Hotfoil-EHS's Specialization in Custom-Designed Bolt Heaters: Hotfoil-EHS focuses on creating custom-designed bolt heaters to enhance efficiency and durability in high-temperature applications. • Powermaster's Focus on Portable and Efficient Bolt Heating Solutions: Powermaster emphasizes the development of portable and efficient bolt heating solutions, aiming to minimize maintenance downtime and improve operational efficiency. Buy This Report
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