img

Global Industrial Electrical Heating Element Market Size By Type (Immersion Heaters, Tubular Heaters, Circulation Heaters), By Application (Oil & Gas, Building Construction, Pharmaceutical Industry), By Geographic Scope And Forecast


Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Industrial Electrical Heating Element Market Size By Type (Immersion Heaters, Tubular Heaters, Circulation Heaters), By Application (Oil & Gas, Building Construction, Pharmaceutical Industry), By Geographic Scope And Forecast

Industrial Electrical Heating Element Market Size And Forecast

Industrial Electric Heating Element Market size was valued at USD 30.82 Billion in 2024 and is projected to reach USD 55.60 Billion by 2031, growing at a CAGR of 5.45% during the forecast period 2024-2031.

An industrial electric heating element is a heating device that converts electricity into heat through the process of resistive or Joule heating. Electric current passing via the equipment encounters resistance, resulting in heating of the element. Unlike the Peltier effect, this procedure is independent of the direction of the current flow. The Global Industrial Electrical Heating Element Market report delivers a holistic evaluation of the market. The report offers a thorough analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a significant role in the market.

Global Industrial Electrical Heating Element Market Definition

A heating element converts electrical energy into heat through the method of Joule heating. Electric current passing via the element encounters resistance, resulting in heating of the element. Industrial heaters are utilized to convert energy from a fuel or energy source to thermal energy in a system, process stream, or closed environment.

The process by which thermal energy is transformed from an energy source to a system can be defined as heat transfer. Typically, heating elements are made from a coil, ribbon, or strip of wire that delivers heat (like a lamp filament). Heating elements comprise an electric current, which flows via the wire, coil, or ribbon and becomes very hot. The element alters the electrical energy passing through it into heat, which spawns outward in every direction.

Heating elements help transform electricity into heat. However, to understand how a heating element works, we must recognize some basic electricity lessons. First, conductors are good carriers of electricity. Conversely, insulators are poor carriers of electricity. Both conductors and insulators deliver resistance to electric currents that flow through them, although in different amounts. Conductors offer low resistance, while insulators offer a high level of resistance. So, electronic circuits include resistors, which govern how much current flow. In this report, Industrial electric heating element refers to heaters utilized in industrial environments, which are different from commercial heaters, such as household appliances.

What's inside a
industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

Global Industrial Electrical Heating Element Market Overview

The surge in demand for electrical heating equipment is a primary factor contributing to the growth of the global market. This is attributed to different advantages associated with the electric heating element, such as temperature-controlled processes and clean heating. In addition, electric heating equipment delivers heat without the need for firing due to which it is free from dust & flue gases. In addition, installation, running, and equipment cost is economical, which is an essential growth driver of the market. Also, electric heating equipment is easy to operate and has a noise-free operation. These features have forced manufacturers to produce more electric heating equipment, which is anticipated to boost their demand, globally. Besides, the increase in industrialization in developing countries such as India, Brazil, Mexico, and Malaysia also has greatly propelled the need for electrical heating equipment. The implementation of stringent government norms for sustainable & energy-efficient buildings has also completely affected the demand for the electrical heating element. The shift in consumer preference from conventional to electric heating elements has further driven the growth of the market because they are more energy-efficient than conventional thermal equipment.

Furthermore, an increase in continuous and stable energy demands from industries in developing economies increases the growth of the heaters, which in turn drives the market. Also, an increase in oil & gas exploration and production activities and a rise in expansion projects coupled with other construction activities in growing and developed economies propel the demand for the market in the forthcoming years.

However, the implementation of stringent government regulations toward environmental pollution acts as a restraint on the overall market growth. Also, fluctuation in prices of raw materials & spare parts used for manufacturing electrical heating elements associated with the high cost of research & development is expected to hinder the growth in demand for the Industrial Electric Heating Element market during the forecast period.

Furthermore, during the COVID-19 outbreak, the Chemical & Plastics Industry, manufacturing, oil & gas industries, and many other industries were majorly affected. Construction activities were also blocked or restricted to a huge extent. Manufacturing and transportation activities along with their supply chains were impeded on a global level. This directly hindered the Industrial Electric Heating Element market growth. However, the market gained stability in the third and fourth quarters of 2020. Moreover, gradually all industries are continuing their regular manufacturing and services. This is further expected to lead to the re-initiation of the companies at their full-scale capacities, which is expected to help the market to start to recover.

Global Industrial Electrical Heating Element MarketSegmentation Analysis

The Global Industrial Electrical Heating Element Market is segmented on the basis of Product, Application, and Geography.

Industrial Electrical Heating Element Market, By Type

  • Immersion Heaters
  • Tubular Heaters
  • Circulation Heaters
  • Band Heaters
  • Strip Heaters
  • Coil Heaters
  • Flexible Heaters

To Get Summarized Market Report By Type-

Based on Type, the market is bifurcated Tubular Heaters, Immersion Heaters, Coil Heaters, Circulation Heaters, Strip Heaters, Band Heaters, and Flexible Heaters. Tubular Heaters accounted for the largest market share in 2020. Tubular heaters provide a great way of maintaining the ambient temperature in a variety of environments and are cleaner and more cost-effective than other alternatives.

Industrial Electrical Heating Element Market, By Application

  • Chemical & Plastics Industry
  • Oil & Gas
  • Building Construction
  • Pharmaceutical Industry
  • Food Industry

To Get Summarized Market Report By Application-

On the basis of application, the Global Industrial Electric Heating Element Market has been segmented into Oil & Gas, Chemical & Plastic, Pharmaceuticals, Building, and Food. Oil & Gas accounted for the largest market share in 2020. The rising demand for crude oil globally coupled with the development of integrated facilities in emerging economies is expected to boost consumption in the application segment.

Industrial Electrical Heating Element Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world

To Get Summarized Market Report By Geography-

On the basis of regional analysis, the Global Industrial Electric Heating Element Market is classified into North America, Europe, Asia Pacific and Rest of the world. Asia Pacific is expected to hold the largest market share of the Industrial Electric Heating Element over the forecast period followed by North America. The Asia Pacific region is expected to grow at a significant pace over the forecast period, owing rising capital investment along with increase exports in Bangladesh, Vietnam, and Malaysia is expected to have a positive impact on the market over the forecast period.

Key Players

The “Global Industrial Electrical Heating Element Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Watlow, Industrial Heater Corporation, Chromalox, Tutco Heating Solutions Group, Minco, Tempco Electric Heating Element Corporation, NIBE, OMEGA, Durex Industries, Indeeco, Delta MFG, Wattco, among others.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

  • NIBE Industrier AB has signed an agreement to acquire 50% of the shares in the English company Go Geothermal Ltd and the remaining shares within five years.
  • OMEGA Expands Sensor Offerings through a Strategic Partnership With B&K Vibro

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

KEY COMPANIES PROFILED

Watlow, Industrial Heater Corporation, Chromalox, Tutco Heating Solutions Group, Minco, Tempco Electric Heating Element Corporation, NIBE, OMEGA, & Others

SEGMENTS COVERED
  • By Type
  • By Application
  • By Geography
CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days)  with purchase. Addition or alteration to country, regional & segment scope

Research Methodology of Market Research

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )