Allied Market Research

2024

Electric Heating Equipment Market

Electric Heating Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application and by End User Industry : Global Opportunity Analysis and Industry Forecast, 2023-2032

CM : Engineering, Equipment and Machinery

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Author's: | Sonia Mutreja
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Electric Heating Equipment Market Outlook - 2027

Electric heating equipment refers to an industrial equipment, which is used for heating purposes by converting electrical energy into heat energy. It is majorly used to maintain ambient temperature at desired level. Electrical resistor is the core element due to which heating effect occurs in an electric heating equipment. This equipment functions on the principle of the “Joule Effect.” This principle states that the conversion of electric energy to heat energy occurs when electric current is passed through an electrical resistor. Thus, electric heating is considered as the most efficient form of heating, as all the incoming electric energy is transformed to heat energy. Heating element in a modern electric heating equipment, which is made of nichrome wire insulated by ceramic. 

Industrial applications of electric heating equipment include welding, melting, baking, and enameling. In addition, electric heating equipment are used for domestic purposes such as cooking, water heating, room heating, and ironing of cloths. They can be installed anywhere, and do not face the constraint of space. Moreover, they provideuniform distribution of heat energy. Thus, thesee quipment find extensive applications in food processing and pharmaceutical industry, as precision control temperature can be accurately applied at critical points in production line.

Surge in demand for electrical heating equipment is a major factor contributing toward the growth of the global market. This is attributed to various advantages associated with electric heating equipment, such as temperature-controlled process andclean heating. In addition, electric heating equipment produces heat without the need of firing due to which it is free from dust & flue gases. In addition, installation, running, and equipment cost iseconomical, which is akey growth driver ofthe market. Furthermore, electric heating equipment is easy to operate, and has a noise-free operation. These features have compelled manufacturers to produce more electric heating equipment, which is anticipated to boost their demand, globally. Moreover, increase in industrialization in the developing countries such as India, Brazil, Mexico, and Malaysia has significantly propelled the need for electrical heating equipment. In addition, implementation of stringent government norms for sustainable & energy-efficient buildings has positively affected the demand for electrical heating equipment. Shift in consumer preference from conventional to electric heating equipment has further driven the growth of electric heating equipment market, owing to the fact that they are more energy-efficient than conventional thermal equipment. 

However, fluctuation in prices of raw materials & spare parts used for manufacturing electrical heating equipment coupled with high cost of research & development is expected to hinder the growth in demand for electrical heating equipment during the forecast period. On the contrary, technological concepts such as distributed smart controls for heating and cooling to simplify HVAC configuration are anticipated to create lucrative opportunity for the expansion of the global market. Sensor-based electric heating equipment which are increasingly being used in IoT-enabled smart homes is expected to be opportunistic for the market. Heating plays an important role in railway industry for providing comfort, safety, and reliability in railway vehicles. Therefore growth in the railway industry is expected to increase the demand for electric heating equipment. This presents a lucrative opportunity for the growth of electric heating equipment market.

Research & development in photovoltaic cells and solar cells, which have high potential in heating applications for agriculture and food processing industry has created an opportunity for new designs and developments in electric heating equipment. This, in turn, is expected to have a positive impact on the market growth.

Global electrical heating equipment market is segmented into heating method, product type, end-user industry, end-user, and region. On the basis of heating method, theelectrical heating equipment market is classified into resistance heating, arc heating, power frequency heating, induction heating, dielectric heating, and infrared heating. By product type, it is segregated into radiant heaters, furnaces, boilers, heat pumps, unitary heaters, and others. Depending on end-user industry, it is classified into food processing, mining, construction, automotive, chemical, oil & gas, textile, and manufacturing. On the basis of end user, the market is segmented into commercial, residential, and industrial. Region wise, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.

Key players operating in the global electric heating equipment market are Robert Bosch GmbH, Ingersoll-Rand Plc, Danfoss, United Technologies Corporation, Lennox InternationalInc., Johnson Controls, Daikin Industries Ltd., Honeywell International Inc., Emerson Electric Co., and Siemens Building Technologies AG.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the current & future trends of the global electric heating equipment market to elucidate imminent investment pockets.

  • Information about key drivers, restraints, opportunities, and their impact analysis on the market has been provided.

  • Porter’s five forces analysis illustrates the potency of buyers & suppliers that operate in the industry.

  • The quantitative analysis of the global electric heating equipment market has been provided to determine the market potential.

Electric Heating Equipment Market Report Highlights

Aspects Details
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By Type
  • Power Frequency Heating
  • High Frequency Heating
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By Application
  • Space heating
  • Water heating
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By End User Industry
  • Residential
  • Commercial
  • Industrial
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Panasonic Corporation, LG Electronics Inc., Toshiba Corporation, Honeywell International Inc., The Schneider Group, Mitsubishi Electric Corporation, Siemens AG, ABB Ltd, Daikin Industries Ltd., Emerson Electric Co.

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Electric Heating Equipment Market

Global Opportunity Analysis and Industry Forecast, 2023-2032