Industrial Electric Heating Element Market

Global Industrial Electric Heating Element Market Size (2024-2032):

The size of the global industrial electric heating element market was worth US$ 29.82 Billion in 2023. The global market is anticipated to grow at a CAGR of 4.45% from 2024 to 2032 and be worth US$ 44.12 billion by 2032 from US$ 31.15 billion in 2024. 

Current Scenario of the Global Industrial Electric Heating Element Market

A heating element uses the Joule heating process to turn electrical energy into heat. Electric current travelling through the element encounters resistance, causing the element to heat up. In a system, process stream, or closed environment, industrial heaters convert energy from a fuel or energy source to thermal energy.

Heating elements are often formed of a coil, ribbon, or strip of wire that distributes heat (like a lamp filament). Heating elements are made up of an electric current that travels through a wire, coil, or ribbon and heats up to a very high temperature. The element converts the electrical energy that passes through it into heat, which propagates in all directions.

Heating elements aid in the conversion of power to heat. To comprehend how a heating element works, however, we must first understand some basic electrical concepts. For starters, conductors are efficient electricity carriers. Insulators, on the other hand, are poor conductors of electricity. Resistance is provided by both conductors and insulators to electric currents flowing through them, though in differing proportions. Insulators have high resistance, whereas conductors have low resistance. Resistors are used in electronic circuits to control how much current flows. In this research, the term "industrial electric heating element" refers to heaters used in industrial settings, as opposed to commercial heaters such as those found in homes.

MARKET GROWTH

The spike in demand for electrical heating equipment is one of the main drivers of global industrial electric heating element market growth. This is due to a variety of benefits connected with the electric heating element, including temperature control and clean heating. Furthermore, electric heating equipment produces heat without the requirement for combustion, which means it is free of dust and flue gases.

MARKET DRIVERS

Electric heating equipment is simple to use and produces no noise. It produces heat without the need for combustion, which means it is free of dust and flue gases. Furthermore, the cost of installation, operation, and equipment is low, which is a key market growth driver.

These characteristics have compelled manufacturers to build more electric heating equipment, which is expected to increase global demand. Furthermore, the rise in the industry in developing countries has increased the demand for electrical heating equipment significantly. The introduction of strict regulatory standards for sustainable and energy-efficient buildings has also had a significant impact on demand. The movement in consumer choice from traditional to electric heating elements, which are more energy-efficient than traditional thermal equipment, has fueled the industry's expansion.

Furthermore, the rise of heaters is fueled by an increase in continuous and constant energy consumption from industries in growing nations, which pushes the market. In addition, rising oil and gas exploration and production, as well as expansion projects and other building activities in developing and developed economies, will drive demand for the market in the future years.

MARKET RESTRAINTS

The imposition of strict government rules aimed at reducing pollution works as a brake on the overall market expansion.

In addition, fluctuating costs of raw materials and spare parts used in the manufacture of electric heating elements, as well as the high cost of research and development, are projected to stifle demand growth in the Industrial Electric Heating Element market throughout the forecast period.

Furthermore, the Chemical & Plastics Industry, Manufacturing, Oil & Gas Businesses, and a variety of other industries were severely impacted by the COVID-19 outbreak. Construction activities were likewise severely hampered or prohibited. On a global scale, manufacturing and transportation activities, as well as their supply chains, were hampered. This hampered the Industrial Electric Heating Element market growth.

In the third and fourth quarters of 2020, however, the market stabilized. Furthermore, all industries are gradually returning to normal manufacturing and service operations. This is also likely to result in the companies resuming operations at full capacity, which will aid the market's recovery.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Industrial Electrical Heating Element Market Analysis By Product

During the projection period, immersion heaters are expected to have the largest market share. Immersion heaters are electric devices that heat the liquid in which they are submerged. It is largely used to heat materials in a variety of industries, including gas and oil, chemical, automotive, and others, in order to provide a clean energy source that does not emit pollutants or waste. As a result, the industrial electric heating elements market industry is predicted to grow. Moreover, it is also eco-friendly and built as per government regulations, which promotes consumer buying.

Global Industrial Electrical Heating Element Market Analysis By Application

The need for heating elements is increasing across a variety of industries. The market is likely to be driven by rising oil and gas demand. The requirement for heating in the oil & gas industry is much more in comparison to other industries. Heating is required to manufacture different forms of oil and gas. Thus, it is obvious that it will lead the segment. However, the chemical and plastic industry will also have a significant share of the market.

REGIONAL ANALYSIS

Over the period 2024-2032, the Asia-Pacific region has the biggest share, with a CAGR of 3.6%. In the last five years, the quickly rising emerging economies, particularly China and India in terms of both economy and infrastructure, have greatly raised the demand for industrial electrical heating elements. In the Asia-Pacific area, industrial electrical heating elements are mostly sold in developing countries like India, Japan, and China. This is because of the increasing urbanization improving living conditions, and disposable income of consumers.

KEY PLAYERS IN THE GLOBAL INDUSTRIAL ELECTRICAL HEATING ELEMENT MARKET

Companies playing a prominent role in the global industrial electric heating element market include Watlow, NIBE, Tutco Heating Solutions Group, Chromalox, Indeeco, Tempco Electric Heating Element Corporation, Industrial Heater Corporation, OMEGA, Minco, Delta MFG, Wattco, and Others.

RECENT HAPPENINGS IN THE GLOBAL INDUSTRIAL ELECTRICAL HEATING ELEMENT MARKET

• The SPP Board of Directors authorized a recommendation from an industry expert panel (IEP) for NextEra Energy Transmission Southwest to construct the Minco-Pleasant Valley-Draper transmission line. The IEP assessed this project using its competitive transmission owner selection procedure, which is required for certain transmission projects under the Federal Energy Regulatory Commission's Order No. 1000.
• Spectrum, Inc.'s business assets have been bought by ASPEQ Heating Group LLC ("ASPEQ"), a renowned provider of custom-configured electric heating and thermal management technologies. Electric track switch heaters, hot air blowers, thaw shed heaters, and associated controls for the rail industry are among the acquired corporate assets and product lines.

DETAILED SEGMENTATION OF THE GLOBAL INDUSTRIAL ELECTRICAL HEATING ELEMENT MARKET INCLUDED IN THIS REPORT

This research report on the global industrial electric heating element market has been segmented and sub-segmented based on product, application and region.

By Product

• Immersion Heaters
• Tubular Heaters
• Circulation Heaters
• Band Heaters
• Strip Heaters
• Coil Heaters
• Flexible Heaters

By Application

• Chemical & Plastics Industry
• Oil & Gas
• Building Construction
• Pharmaceutical Industry
• Food Industry

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa