New York, US, Oct. 24, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Industrial Air Heaters Market Research Report: Information By Fuel Type, By Material Type, By Technology Type, By Capacity Type, By End-Use, By Application Type and Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 797.9 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 4% during the assessment timeframe.
Industrial Air Heaters Market Key Players
Eminent industry players profiled in the Industrial Air Heaters Market report include-
- Chromalox, Inc. (US)
- Titan Industrial Heating Systems Inc (US)
- Babcock Wanson (UK)
- Mitsubishi Heavy Industries Machinery Systems (Japan)
- Backer Hotwatt Inc (US)
- Heaters Controls and Sensors Ltd (Canada)
- Auzhan Electric Appliances (China)
- Penn Radiant Products (US)
- Heatrod Elements (US)
- OhmEx Industrielle Elektrowärme GmbH (Germany)
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/10390
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 797.9 Million |
| Growth Rate | CAGR of 4% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The increasing chemical processing operations |
| Key Market Drivers | Growing industrial applications of these air heaters |
Browse In-depth Market Research Report (100 Pages) on Industrial Air Heaters Market:
https://www.marketresearchfuture.com/reports/industrial-air-heaters-market-10390
Drivers
Growing Need for Energy Consumption across Different End Use Industries to Boost Market Growth
Rising need for energy consumption in oil and gas, manufacturing, and other industries, as well as energy efficiency requirements due to pricing difficulties, are the primary demand drivers for the industry.
Opportunities
Rise in Chemical Processing Operations to offer Robust Opportunities
The rise in chemical processing operations will offer robust opportunities for the market over the forecast period.
Restraints and Challenges
Lack of Awareness to act as Market Restraint
The lack of awareness and high investment may act as market restraints over the forecast period.
Industrial Air Heaters Market Segmentation
The global industrial air heaters market has been bifurcated based on application, end use, capacity type, technology type, material type, and fuel type.
By fuel type, electric-powered will lead the market over the forecast period.
By material type, steel will dominate the market over the forecast period.
By technology type, direct fired will spearhead the market over the forecast period.
By capacity type, 1-5KW will have the lions share in the market over the forecast period.
By end use, general manufacturing segment will have the largest share in the market over the forecast period.
By application type, air and gas heating will head the market over the forecast period.
Ask To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/10390
COVID-19 Analysis
The increasing burden on financial institutions and the broader impact of COVID-19 are expected to result in substantially slower or perhaps negative global growth during 2020-2021, forcing the world economy into a catastrophe. Though the first three quarters of the current fiscal year have been difficult for the majority of manufacturing businesses, the pharmaceutical industry has continued to thrive because to continuing drug production and, more crucially, COVID-19 curing medicines. The essential capital investments are understood to support Industrial Air heater expansion from the pharmaceutical business to a degree that is predicted to expand on the basis of new facility designs. Otherwise, the industrial air heater market development is predicted to be low, with only the processed food industry being a key beneficiary.
Industrial Air Heaters Market Regional Analysis
APAC to Head Industrial Air Heaters Market
Because of the increasing growth of the industrial sector in the Asia Pacific region, the Asia Pacific region will lead the worldwide industrial air heater market. China, South Korea, India, and Japan are expected to establish dominance in the Asia Pacific industrial air heater market due to increased manufacturing facilities and a rising industrial hub in the country. Because of its rapidly increasing population, Asia-Pacific is expected to have higher demand in the projection year. This feature alone explains why the region would dominate the industrial air heaters market share over the forecast period. Increased GDP per capita and infrastructural development has urbanized the region to a larger extent, transforming rural areas into urban areas. The unexpected spike in demand has pushed cities towards unsustainable spending patterns. The region is home to the top major players in the industrial air heaters market. As big projects are underway in Asia Pacific countries such as China, India, Australia, and Indonesia, the area has the potential to avoid any competition. This is also due to the region's large number of reserves. Because exploration efforts in China are rising, China may have a high need for tin catalysts and compounds. The National Bureau of Statistics predicts that the industrial air heaters market will boost regional demand throughout the projection period. The Asia-Pacific market is predicted to be driven by a constant increase in the manufacturing of common daily used products and rising industrialization. Due to well-established first copy manufacturing of engineering equipment across China, Asia Pacific is expected to position itself as the emerging area in the Industrial Heaters Market. Furthermore, the increasing trend of technical adoption by projecting companies in the region is fueling regional market expansion. Furthermore, regional governments in India, China, Japan, Korea, and other countries are increasing their investment in the manufacturing of oil and gas heating equipment and process engineering in the region.
Check for Discount:
https://www.marketresearchfuture.com/check-discount/10390
North America to Have Admirable Growth in Industrial Air Heaters Market
North America, the leading country in the industrial air heaters market, will experience significant expansion throughout the forecast period. Growth would be achievable due to marketing analytics technologies and existing companies who have been firmly established in the market since its inception. Furthermore, government organizations, businesses, third-party administrations, and others are focusing their efforts on developing customer-centric goods, which will contribute to the region's progress. Rising demand, higher income, advanced technology and machinery, as well as programs to raise awareness of the need, will almost certainly cause the industrial air heaters market to expand significantly. Because of the substantial CAGR of equipment manufacturing across the region, North America dominates the worldwide Industrial Heaters market with roughly 38% market share. Furthermore, technological advancements in the chemical, oil & gas, and plastic industries are pushing demand for the commodity. The United States accounted for around 5% of the CAGR during the projected period, owing to the country's well-established electrification and semiconductor unit industries, as well as the government's improvement of transportation capabilities across the region. Recently, the United States government announced a $100 billion USD investment in transportation alleviation in 2020, which is projected to promote regional prosperity.
Related Reports:
Industrial Boilers Market Information Report: Information by Type, by Fuel Type, by Boiler Horsepower, End-User And by Region - Forecast to 2030
Industrial Air Compressor Market by Type, Seal, Pressure, End-User, & Region - Global Forecast till 2030
Heat Pump Market Research Report: Information by Type, Capacity, End-User, and Region – Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
