A crude heater is used for heating the fuel oil to a desired or prerequisite temperature before combusting it in a boiler. To ensure efficient operations in an oil & gas industry, plant managers equip their facilities with superior, dependable, and durable industrial heating systems. These heaters are used to reduce the amount of pollution and increase the performance of the equipment. Moreover, crude heaters are utilized for complete combustion of the fuel oil. They are used to ensure higher separation properties as well as enhance the fluidity of the crude oil. For example, cold and viscous oil imposes high pressure in the process systems, which in turn, hampers the performance of the systems. Additionally, it is used to lower the viscosity of crude oils by preheating the material. The global crude heater market is anticipated to rise over the forecast period, owing to the product’s beneficial properties.
COVID-19 scenario analysis:
Many of the industries are facing tough situation due to COVID-19 pandemic. The global crude heater market has been impacted negatively due to the coronavirus situation. The prices of crude oil have reduced drastically. The worldwide lockdown has reduced the demand for automobiles, which reduces the fuel consumption. Moreover, international travel ban is expected to further reduce the demand for oil from the aviation sector. These factors reduce the demand for crude heater during the forecast period.
Top impacting factors: Market scenario analysis, trends, and drivers
The growing demand for efficient and durable crude heaters in the oil & gas industry is expected to be the main growth driver for the global crude heater market. The oil industry is expected to witness constant increase within the near future due to the growing demand for fuel and gas. The constantly increasing demand for refinery products across numerous end-use sectors is an indication for the future demand for high-quality crude oil. Lack of training among workers in specific regions is anticipated to hamper the growth of the global crude heater market throughout the forecast period. Leakage of oil inside the combustion area leads to mishaps, which further restrains the market growth of crude heater over the forecast period.
The ongoing trend gaining momentum within the oil & gas industry is the introduction of the flameless combustion method by Great Southern Flameless (GSF). This technology was brought in the glass and metal industry a few years before, as both these industries perform at very high temperatures and run at steady constant state conditions, which are considered to be perfect conditions for flameless combustion. The commercialization of flameless fired crude heaters demanded numerous design capabilities to have a flameless heater working in the refining environment.
On the basis of region, the global crude heater market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Asia-Pacific is a key opportunistic region in the global market, owing to the setting up of latest refineries to satisfy the growing demand for brand new units in developing nations. This factor can positively affect the global crude heater market over the forecast period. The growing number of refinery initiatives in Europe and the Middle East, specifically Russia, Kazakhstan, Saudi Arabia, and many others, is anticipated to propel the demand for crude heaters.
Key benefits of the report:
- This study presents the analytical depiction of the global crude heater market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global crude heater market share.
- The current market is quantitatively analyzed to highlight the global crude heater market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the crude heater market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Crude Heater Market Report Highlights
By end-use industry
Key Market Players
Paratherm Corporation, Chromalox Inc., Radco Industries Inc., Exotherm Corporation, Thermotech Systems Ltd., Amec Foster Wheeler, Solutia Inc., C. Broach Company, American Heating Company, Garcem Engineers