Global Electrical Process Heaters (EPH) for Air Separation Units Market Size By Type (Immersion Heaters and Circulation Heaters), By End Use (Iron and Steel Industry, Chemical Industry, Oil and Gas Industry, Power Generation Industry), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationGlobal Electrical Process Heaters (EPH) for Air Separation Units Market Size By Type (Immersion Heaters and Circulation Heaters), By End Use (Iron and Steel Industry, Chemical Industry, Oil and Gas Industry, Power Generation Industry), By Geographic Scope And Forecast
Electrical Process Heaters (EPH) for Air Separation Units Market Size And Forecast
Electrical Process Heaters (EPH) for Air Separation Units Market size was valued at USD 742.70 Million in 2022 and is projected to grow to USD 1,116.28 Million by 2030 with a CAGR of 5.31% between 2023-2030.
The rising demand from end-use sectors such as food and beverage, healthcare, and petrochemicals is expected to drive the need for industrial gases. ASUs play an essential role in producing industrial gases, including oxygen, nitrogen, and argon, and growing preference for these gases is likely to boost demand for EPHs in ASUs. The Global Electrical Process Heaters (EPH) for Air Separation Units Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Electrical Process Heaters (EPH) for Air Separation Units Executive Summary
Technological advancement in electric process heaters, increasing investment in the chemical as well as petrochemical sectors, rising awareness regarding the benefits of using EPS in ASUs, along with growing industrial gas consumption are some of the major factors expected to drive the market over the forecast period. However, high initial and maintenance costs, limited application, and rising competition from substitute technology are some factors anticipated to restrain the market growth over the coming years. Air separation units are utilized in several industries to separate air into its component gases, such as nitrogen, oxygen, and argon. Electric process heaters are essential in air separation units because they heat the air to high temperatures beforehand it is separated. Electric process heater effectiveness in air separation units is crucial to the ultimate efficiency and efficacy of the air separation procedure. Efficient air heating may result in considerable energy savings and lower emissions, whereas inefficient heating may result in lower product value and high operational expenses. Consequently, electric process heaters for air separation units are built to be dependable, long-lasting, and simple to maintain.
Based on type, the immersion heaters segment is accounted for the largest market share throughout the forecast period due to its benefits and advantages, such as being simple to set up, safe to operate, compact, and low maintenance, making them an affordable heating alternative. Meanwhile, the Circulation heaters segment is anticipated to expand at a CAGR of 6.41% throughout the projected period as these heaters are utilized in various sectors, including oil & gas, chemical manufacturing, food, beverage, and water treatment.
Based on End-Use, the Iron and steel industry segment is dominant in the global market over the forecast period due to Increasing demand from Iron and steel Industries in developing economies. Based on region, the Asia Pacific region is expected to hold largest shares in the global EPH for the ASU market. The rising need for oil & gas products for transportation and power generation in emerging economies of the Asia Pacific region, such as China and India, is expected to drive market growth in the region.
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Global Electrical Process Heaters (EPH) for Air Separation Units Market Attractiveness Analysis
The Electrical Process Heaters (EPH) for Air Separation Units Market is experiencing a scaled level of attractiveness in the Asia Pacific Region. The Asia Pacific region has a prominent presence and will account for a significant market share by 2030. China is the world’s largest manufacturer and user of steel, and the iron and steel sector contributes significantly to China’s GDP. According to the World Steel Organization, China produced 77.9 million tons of steel in December 2022. According to the China Iron and Steel Association, around 95% of China’s steel output is used domestically. As a result, electric process heaters in the ASU are projected to be in high demand in China. China has made enormous investments in the iron and steel sector, and its steel manufacturing capacity has grown dramatically in recent years. This increasing output has resulted in increased demand for industrial equipment, such as electric process heaters, for the ASU. Additionally, there has been an increasing emphasis on energy efficiency and environmental sustainability in the Asia Pacific manufacturing industry in recent years. As a result, more technologies, such as electric process heaters for the ASU, are being adopted to assist in minimizing energy usage and carbon gas emissions.
Global Electrical Process Heaters (EPH) for Air Separation Units Market Outlook
The demand for industrial gases is predicted to rise over the forecast period, owing to factors such as the expansion of the healthcare sector and the increased usage of industrial gases in metal fabrication, including welding. As a result, the ASU industry will expand, as will the need for electrical process heaters in these units. Using electrical processing heaters is critical for maintaining the effectiveness, durability, and stability of ASUs and lowering their running costs. Furthermore, rising demand from end-use sectors such as food and beverage, healthcare, and petrochemicals is expected to drive the need for industrial gases. ASUs play an essential role in producing industrial gases, including oxygen, nitrogen, and argon, and growing preference for these gases is likely to boost demand for EPHs in ASUs. Electrical process heaters are essential components of ASUs because they heat the air before it reaches the separation unit. After that, the hot air is cool, compressed, and segregated into its constituent gases. Electrical process heaters are required to keep ASUs running efficiently and reliably. The usage of electrical process heaters also aids in lowering ASU energy use. The heaters decrease the necessary energy for the separation procedure by heating the airflow before it reaches the separation unit. As a result, the operational expenses of ASUs are reduced, rendering them more cost-effective for industrial gas generators.
However, Compared to other fuel-powered alternatives, the high initial expenditure needed to establish an EPH system is expected to restrain the market growth. High capital expenditure can be a substantial obstacle for many businesses, especially small and medium-sized businesses (SMEs). Small and medium-sized enterprises may need more financial means to operate in an EPH system, limiting their capacity to enter the market, which is expected to hinder the EPH or ASUs market.
Furthermore, high costs can lengthen the system’s expected return. The repayment duration is the time it takes for the system to produce enough money to recoup its initial investment. The greater the financial risk connected with the expenditure, the lengthier the rate of return. This might discourage businesses from engaging in EPH technology, especially if they are unsure regarding the long-term need for air separation solutions.
Global Electrical Process Heaters (EPH) for Air Separation Units MarketSegmentation Analysis
The Global Electrical Process Heaters (EPH) for Air Separation Units Market is segmented on the basis of Type, End Use, and Geography.
Electrical Process Heaters (EPH) for Air Separation Units Market, By Type
- Immersion Heaters
- Circulation Heaters
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Based on Type, the market is segmented into Immersion Heaters and Circulation Heaters. Immersion Heaters accounted for the largest market share in 2021 and are projected to grow during the forecast period. Circulation Heaters were the second-largest market in 2021. Immersion heaters may be a very efficient and effective way to heat the process fluids in the ASU. They are a beneficial alternative for this application because of their small shape, quick heating abilities, and corrosion resistance. Immersion heaters are made up of an electric heating component that is immersed in the fluid being heated. The heating element often comprises a corrosion- and erosion-resistant metallic alloy, including stainless steel or titanium. Immersion heaters may be configured to heat liquids, gases, or even solids, giving them a flexible alternative for ASU heating applications. Meanwhile, the usage of circulation heaters in ASUs has various advantages. For instance, they provide ideal temperature control, ensuring the fluid is heated to the proper temperature for extraction. They can also be constructed to have fast heat transfer rates, allowing for quick fluid heating.
Electrical Process Heaters (EPH) for Air Separation Units Market, By End Use
- The Iron and Steel Industry
- Chemical Industry
- Oil and Gas Industry
- Power Generation Industry
- Other Industries
By End Use, the market is segmented into the Iron and Steel Industry, Chemical Industry, Oil and Gas Industry, Power Generation Industry, and Other Industries. The Iron and Steel Industry accounted for the largest market share in 2021 and is projected to grow during the forecast period. Chemical Industry was the second-largest market in 2021. Many industrial processes require huge amounts of various gases as fuel sources and for ancillary applications. A steel mill with a basic oxygen furnace can consume many tonnes of oxygen when converting iron to steel, contributing 15% to the metals and materials market segment. These gases are extracted from the air we breathe by separating the atmospheric mix into its various components, with up to six gases recoverable on a practical basis. Many industrial gases, such as oxygen, nitrogen, and argon, are used in the smelting process of iron and steel companies. Oxygen is primarily used in blast furnaces, melting reduction smelting furnaces, converters, and electric furnace smelting. Nitrogen is primarily used in furnace sealing, protective gas, steelmaking, refining, slag splashing in converters to protect furnaces, security gas, heat transfer medium, and system purging, amongst other applications. Argon gas is primarily used in the steelmaking and refining processes.
Electrical Process Heaters (EPH) for Air Separation Units Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
To Get a Summarized Market Report By Geography-
On the basis of regional analysis, the Global Electrical Process Heaters (EPH) for Air Separation Units Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The US accounted for the largest market share in 2021 and is projected to grow during the forecast period. The market’s expansion has been aided by rising demand from major end-use industries such as oil and gas, chemicals, petrochemicals, food and beverage, and the power generation industry. Air Separation units play an important role in the healthcare industry in this region by producing medical-grade oxygen, which is necessary for patients who require oxygen therapy. Increasing industrial gas applications in Canada’s metal and mining industries are driving growth in the industry. Fast-growing economies in the Asia Pacific region include India, Indonesia, Singapore, and Malaysia. As a result, there will be an increase in demand for oil and gas products for transportation and power generation. China is one of the countries increasing its investment in the oil and gas industry. Electrical processing heaters can be used in crude oil processing to separate oil and water. Japan is the fourth-largest seller of semiconductor manufacturing equipment in the world. By increasing efficiency, heaters can help to reduce production costs and improve product quality.
Key Players
The major players in the market are; Sigma Thermal, Chromolox, Vulcanic, Ex Heat, Watlow Electric Manufacturing Company, Heatec, an Astec Brand, HEAT EXCHANGE AND TRANSFER, Integrated Flow Solutions, Kanthal, Hampton Controls, and others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 3 players operating Electrical Process Heaters (EPH) in the Air Separation Units Market. takes into consideration several factors before providing a company ranking. The top three players in the Electrical Process Heaters (EPH) for Air Separation Units Market are Chromolox, Watlow Electric Manufacturing Company, and Vulcanic. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product-related sales obtained by the company in recent years and its share in the total revenue. further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the comp
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