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A53706 | Pages: 302 | Charts: 48 | Tables: 154 |
The global line heaters market was valued at $20.8 million in 2021, and is projected to reach $34.4 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Line heaters are type of production and processing equipment and used to maintain the temperature of the gas in a flow line above the hydrate temperature (freezing temperature). Three components that are commonly found in a line heater include a liquid bath, a fire tube, and a process coil. The process coil, through which the liquids or gases pass, is submerged in the liquid bath's upper part. Underneath the process coil and submerged in the lowest portion of the liquid bath is the fire tube. The fire tube is heated by natural gas combustion inside the fire tube. The heat energy is directly transferred to the liquid bath and then indirectly to the process coil, and eventually to the process fluid or gas.
The report includes the study of the line heaters market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of line heaters industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth. In addition, line heaters help in mitigating the loss of oil and gas product during the production process which is expected to support the expansion of the global line heaters market size in the coming years.
One of the major factors contributing toward the line heater market growth are changes in shale oil and gas exploration activity. Line heaters can improve performance, control operating costs, and reduce unscheduled equipment & well shutdowns. Moreover, both the booming oil and gas drilling industry and increasing adoption of high-power heating equipment contribute to line heaters market opportunities in forecasted period. Major oil and gas companies create opportunities for the line heaters market industry by investing more resources in exploration projects.
Adopting innovative techniques for flare elimination, mitigating fugitive emissions and addressing liquids and gas leaks are the key investment priorities for well site engineers. Global demand for line heaters is being driven by efforts to reduce pipeline maintenance costs and tighten worker safety regulations in different regions. Favorable government initiatives for the adoption of line heaters at production site drive the market growth in the near future.
Hydrate formation in machines is a blockage risk during an oilfield operation. Line heaters help maintain an ideal temperature so that the well extraction can run smoothly without any risk. Customizable, easy installation, quick start, reliability, and cost-effective elements of line heater equipment are some factors that drive the growth of the line heaters market share during the forecast period.
Manufacturers always employ the appropriate assortment of equipment to guarantee a satisfactory rate of production in the oil and gas sector. The use of appropriate production and heat processing equipment is particularly critical as oil and gas production generates a lot of contaminants and by-products which may diminish process efficiency. Overall, line heaters are a crucial component of the oilfield process equipment industry and play a significant role in ensuring safe and efficient operation of the production process.
The line heaters come with the several advantages such as reduction of downtime of machines, prevention of formation of hydrates in pipeline and reduction of maintenance cost of pipelines, which is expected to drive the demand for line heaters equipment in the oil and gas industry. The use of line heaters equipment for hazardous gas operations is anticipated to be fueled by the increase in investments in gas plants. Line heaters are used in several applications of manufacturing process. There is a greater need for a very precise and stable temperature in various chemical industry applications. The line heaters are perfect solution for maintaining precise temperature control over processes, which increases the demand for line heaters globally.
The manufacturer in oilfield industry is increasing the production capacity as per the increasing demand for oil in the market. Increase in production through the existing well boosts the demand for process equipment and pipeline in the market. Every region is witnessing a surge in drilling activity which is driving the demand for various wellsite equipment. Wellsite expertise extends beyond fabrication and construction of well. Several equipment is deployed on well site for efficient working of the plant with minimal loss of oil and gas product in the process. Several companies are entering in the designing and supplying of equipment at well site which drive the global line heaters market trends.
The availability of close substitute products can make an industry more competitive and decrease profit potential for the firms in the industry. Companies are adopting renewable heating sources by which cost of heating process is being reduced. Heat pumps, gas condensing boilers, solar thermal technologies, and hybrid heating systems are a few alternative solutions which are available in the market for line heaters. Moreover, alternative solutions are affordable, effective, and environment-friendly than line heaters which limits the global line heaters market growth. Thus, line heater demand is being impacted by alternative equipment in near future.
The oil exploration activities have increased globally which have a positive impact on the line heaters market. As per line heaters market forecast, significant oil and gas greenfield investment also occurring in low-cost regions like the Middle East and the Asia-Pacific. Today, oil exploration companies are engaged in the finding and building of excavation projects on both onshore and offshore. Increase in oil well excavation projects in different regions is projected to create opportunities for the global line heaters market.
The need for line heaters has increased due to developments in the global oil and gas industry. There has been a surge in the investigation of new oil sources over the past five years, despite the pandemic period. The report further outlines the details about the revenue generated through the sale of line heaters across North America, Europe, Asia-Pacific, and LAMEA. As per line heaters market analysis the major players operating in market are Arc Energy., Forum Energy Technologies, Inc., ENERFLEX LTD., Integrated Flow Solutions, Inc., Inclusive Energy Ltd., Surplus Energy., Honeywell International Inc., Allmand Bros., Inc., Sigma Thermal Inc, 12:eleven Production Equipment Inc., and Aspire Energy Resources Inc.
The line heaters market is segmented on the basis of type, size, end use, and region.
[TYPEGRAPH]
By type, the market is classified into direct line heaters and indirect line heaters. In 2021, the indirect line heaters segment dominated the global line heaters market as indirect line heaters are powerful and highly efficient for several processes. Indirect line heaters are associated with minimal maintenance cost and are less expensive, which boosts the demand for indirect line heaters in the global line heaters market.
[SIZEGRAPH]
By size, the market is classified into 1 MM BTU, 1.5 MM BTU and 2 MM BTU. In 2021, the 1 MM BTU segment dominated the global line heaters market as 1 MM BTU consumes less energy and is highly efficient. According to the oil and gas industry requirements, 1 MM BTU can easily sustain the specified temperature which increases the demand for 1 MM BTU during the anticipated period.
[ENDUSEGRAPH]
By end use, the market is classified into oil and gas industry, chemical industry, and others. Oil and gas industry is further segmented on the basis of category in upstream, downstream and midstream. In 2021, the oil and gas segment dominated the global line heaters market as the demand for oil products is increasing in the developing countries. Line heaters are used for different applications in the oil and gas industry such as upstream, downstream and midstream. This, in turn, drives line heaters demand in the oil and gas industry.
[REGIONGRAPH]
By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America dominated the line heaters market owing to increase in oil extraction projects in the region. In U.S., a total of 11.3 million barrels of crude oil is produced on daily basis which creates huge market for line heaters in the North America region. Several countries in Middle East and Africa are investing in the oil exploration and oil reserve projects which is projected to create opportunity for the line heaters market during the forecast period.
The conflict between Russia and Ukraine has a significant impact on the energy sector. Russia's invasion of Ukraine has created shock waves in global oil, gas and energy markets, leading to price volatility, supply shortages, and security issues. Several oil producing companies shut down the production and export of oil products to different countries which impacted the global line heaters market at a greater extend.
For instance,
The booming world economy has caused exponential population growth and high oil and gas demand which is becoming difficult to fulfil. It is nearly hard to significantly reduce oil demand in the developing nation which is boosting the line heaters market share. Several companies are investing in business expansion, production capacity, and agreement in the line heaters market.
Key Market Segments
Key Market Players