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INDUSTRIAL ELECTRIC HEATING ELEMENT MARKET REPORT OVERVIEW
The global industrial electric heating element market size is USD 2855.05 million in 2021 and is projected to touch USD 5516.91 million by 2032, exhibiting a CAGR of 6.17% during the forecast period. In the market study, our analysts have considered industrial electric heating element players such as NIBE, Watlow, Chromalox, Durex Industries, Industrial Heater Corporation, Minco, Tempco Electric Heating Element Corporation, OMEGA, Delta MFG, Indeeco, Wattco, and Tutco Heating Solutions Group, etc.
A heating component known as an industrial electric heating element uses resistive or Joule heating to transform electricity into heat. The element is heated when an electric current traversing the apparatus hits resistance. This process is not reliant on the direction of the current flow, unlike the Peltier effect. The global industrial electrical heating element market report offers a comprehensive industry analysis. The Joule heating process transforms electrical energy into heat in a heating element. The element is heated due to the resistance that the electric current traveling through it meets.
Industrial heaters are used to transform electrical energy into thermal energy in a closed environment, process stream, or system. Heat transfer is the method through which thermal energy is transferred from an energy source to a system. Typically, a coil, ribbon, or strip of wire that transmits heat makes up heating components (like a lamp filament). Electric current is used in heating elements; it passes via a wire, coil, or ribbon and heats up quickly. The substance transforms electrical energy flowing through it into heat, which radiates outward.
COVID-19 Impact: Lockdown Disrupted the Supply Chain, Which Hampered Growth
The global COVID-19 pandemic has been unprecedented and staggering, with industrial electric heating elements experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
The manufacturing, oil & gas, chemical & plastics, and many other businesses were severely impacted by the COVID-19 pandemic. Additionally, construction operations were greatly impeded or prohibited. Global manufacturing and transportation operations, as well as their supply chains, were hampered. This consequently hampered the market growth for industrial electric heating element market. Nevertheless, the market stabilized in the third and
LATEST TRENDS
"Growing Demand for Electric Heating Elements to Augment Major Market Growth"
The demand for electric heating elements is growing as it has various advantages in the temperature-controlled and clean heating processes. It produces heat without the need for fire and is free from flue glasses and dust. It is easy to operate, which increases its adoption in the global market. These features compelled the producers to generate industrial electric heating elements, which are estimated to surge the electric heating element market growth. One of the main factors driving the expansion of the global market is the spike in demand for electrical heating equipment. This is explained by a variety of benefits connected to electric heating elements, including clean heating and processes that may be controlled by temperature. Additionally, because electric heating equipment does not require combustion to produce heat, it is free of flue gasses and dust. Additionally, installation, operation, and equipment costs are reasonable, which is a crucial market growth driver.
INDUSTRIAL ELECTRIC HEATING ELEMENT MARKET SEGMENTATION
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By Type Analysis
By type, the market is segmented into immersion heaters, tubular heaters, circulation heaters, band heaters, strip heaters, coil heaters, and flexible heaters.
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By Application Analysis
Based on application, the market is classified into the chemical & plastic industry, oil & gas, building construction, pharmaceutical, and food industry.
DRIVING FACTORS
"Changing Lifestyle of the Population to Propel Product Demand"
The building industry is anticipated to grow the product demand due to changing lifestyles and people adopting better lifestyles due to an improved economy. The increased demand for clean energy products over those made with natural resources that emit smoke and ash and harm the environment will also aid in the market's expansion. The food business, where it is anticipated that consumers will spend more due to better economic conditions, is the other sector that is anticipated to boost the market's growth. The electric heating element demand is rising due to the expanding end-use industries such as industrial, commercial, and scientific.
"Growing Energy Consumption to Surge Market Growth"
The market is driven by rising steady and consistent energy consumption from sectors of developing nations, which in turn fuels heating growth. The demand for the market will be boosted in the coming years by an increase in oil and gas exploration and production operations and expansion projects, along with other construction activities in developing and emerging countries. Launching advanced technologies such as sensors, semiconductors, and automatic timers, including in the manufacturing industries, is forecasted to aid the market expansion.
RESTRAINING FACTORS
"Lack of Skilled Labor and Availability of Inferior Products Hold Back the Market Growth"
The lack of skilled labor is estimated to hamper the market growth. The market lacks trained labor, which impedes market expansion. The presence of inferior products may affect market expansion, as it heats slowly and hampers the efficiency of electric heating elements.
INDUSTRIAL ELECTRIC HEATING ELEMENT MARKET REGIONAL INSIGHTS
"Asia Pacific to Dominate the Market Due to the Growing Export Activities in the Region"
Asia Pacific is predicted to gain major growth in the market by the increasing capital investment coupled with the rise in exports in other countries.
North America is estimated to hold a significant part of the market share due to the rapid development of the semiconductor industry.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in Market"
Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products.
List Of Top Industrial Electric Heating Element Companies
- NIBE (Sweden)
- Watlow (U.S.)
- Chromalox (U.S.)
- Durex Industries (U.S.)
- Industrial Heater Corporation (U.S.)
- Minco (U.S.)
- Tempco Electric Heating Element Corporation (U.S.)
- OMEGA (Switzerland)
- Delta MFG (Taiwan)
- Indeeco (U.S.)
- Wattco (U.S.)
- Tutco Heating Solutions Group (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using various primary and secondary sources. The research provides a complete analysis of the key market segments,restraints, drivers, competitive landscape, trends, and other elements important to the industry.
| REPORT COVERAGE | DETAILS |
|---|---|
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Market Size Value In |
US$ 2855.05 Million in 2021 |
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Market Size Value By |
US$ 5516.91 Million by 2032 |
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Growth Rate |
CAGR of 6.17% from 2021 to 2032 |
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Forecast Period |
2024-2032 |
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Base Year |
2024 |
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Historical Data Available |
Yes |
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Regional Scope |
Global |
Segments Covered | |
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By Types
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By Application
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By Geography
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Frequently Asked Questions
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What value is the industrial electric heating element market expected to touch by 2032?
Based on our research, the industrial electric heating element market is projected to touch USD 5516.91 million by 2032.
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What CAGR is the industrial electric heating element market expected to exhibit by 2032?
The industrial electric heating element market is expected to exhibit a CAGR of 6.17% by 2032.
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What are the segments of the industrial electric heating element market?
By type, the industrial electric heating element market is segmented into immersion heaters, tubular heaters, circulation heaters, band heaters, strip heaters, coil heaters, and flexible heaters. Based on application, the market is classified into the chemical & plastic industry, oil & gas, building construction, pharmaceutical, and food industry.
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Which are the driving factors of the industrial electric heating element market?
Changing lifestyle of the population to propel product demand and the growing energy consumption to surge market growth are the factors driving the industrial electric heating element market.
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Which are the top companies operating in the industrial electric heating element market?
NIBE, Watlow, Chromalox, Durex Industries, Industrial Heater Corporation, Minco, Tempco Electric Heating Element Corporation, OMEGA, Delta MFG, Indeeco, Wattco, and Tutco Heating Solutions Group are the top companies operating in the industrial electric heating element market.
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