Industrial heater is an important device, which is widely used in different industries such as oil & gas, chemical and food & beverages. The main purpose of using an industrial heater is to provide sufficient amount of heat, which increases temperature of industrial processes or an object. Industrial heaters are also known as the electrical heaters. Industrial heater or electrical heater works on the principle of conversion of electrical energy into heat energy. Various processes are included in the conversion of electrical energy into heat energy.

Market scope and structure

COVID-19 scenario analysis:

• The demand for industrial heating equipment is expected to decrease in the year 2020, owing to low demand from different industries due to lockdown imposed by government of many countries.
• COVID-19 pandemic has shut-down production of various products in the industrial heating equipment industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the industrial heating equipment market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020 and is expected to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

Industrial heating equipment is used in many industries such as plastic industry, chemical industry, food & beverages industry and oil & gas industry. Different types of products have been employed in the industries and these products can be used as industrial heating equipment. These products include boilers, electric furnaces, heat pumps and unitary heaters. To convert electric current or energy into heat, industrial heating equipment are used.The working of the heat pump is different as compare to the electric heater. The refrigeration cycle in the heat pump is drive with the help of electric motor. The heat energy from the source that is outside air or the ground is drawn by that electric motor and it is directed in the space which is to be warmed. Boiler is used for different applications such as sanitation, cooking, power generation and water heating. Various sectors such as educational, industrial, institutional and commercial sectors make use of boiler for various purposes. Because of the variety of applications, the use of boiler is increasing all over the world. This could be the important factor for the growth of industrial heating equipment market. 

New product launch to flourish the market:

Many companies in industrial heating equipment market are developing and introducing new products to the market. These new products are technologically more advanced than previous range of their products. These new products are more efficient and effective in their performance and are widely used in the industry.

In November 2018, a key player in the home appliances and electronics products, Haier has launched new range of the water heater system in the market. Different kinds of products named as E25V, ES15V and ES10V has been included in the product range. These products are available in both horizontal and vertical dimensions and its components are made up of high grade materials such as stainless steel. As compare to the conventional heaters, these heaters are much more efficient.

Key driving factor for the growth of industrial heating equipment market:

Industrial heating equipment are widely used in different industries. The industries such as automobile industry and chemical industry are growing at rapid pace across the globe. As, heating equipment is an important factor for these industries, the demand for industrial heating equipment is expected to rise during the forecast period.

Advanced heating equipment comes with new technologies and gives better efficiency as compare to the conventional heating products. Because of this reason many companies have started to use advanced version of the industrial heating equipment.

Key restraining factor for the growth of industrial heating equipment market:

Oil & gas industry one of the most important industry for the growth of the industrial heating equipment market as these equipment are widely used in this industry. However since last few years, oil and gas industry has not been able to grow. This could be the key restraining factor for the growth of the industrial heating equipment market. 

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the industrial heating equipment 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 market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• The report provides a detailed industrial heating equipment market analysis based on competitive intensity and how the competition will take shape in coming years.