Industrial Heating Equipment Market
The intelligence report by Allied Market Research is the solid outcome of deep study and arduous assessment of numerous dynamics modeling the growth of the Industrial Heating Equipment market. Allied Market Research fosters a highly efficient team of experts, strategists, analysts, and industry specialists who provide proper frameworks and approaches to make efficient decisions. Their systematic analysis and insights help executives steer through their critical priorities with utmost confidence.
global industrial heating equipment market was valued at $36.9 billion in 2020, and is expected to reach $64.1 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030 The meticulous scrutiny of the countless forces influencing the dynamics of the market, guides business ventures in understanding various consumer schemes & proposals. The clients then happen to utilize perspectives to perk up customer experience in the fast-paced business milieu.
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The frontrunners in the industry
The major market players analyzed in the global Industrial Heating Equipment market report comprise Carrier, Easco Boiler Corp., Emerson Electric Co., Ingersoll Rand Inc., Johnson Controls, Inc., Lennox International Inc., McKenna Boiler Works Inc., The Danfoss Group, Thermcraft, Inc. and Uponor Corporation. These players have brought forth an array of different stratagems, which take in new alliances, development, partnership, joint collaboration, and others to sustain their stand in the sector.
Growth of the industrial heating equipment market is majorly driven by rise in industrialization and urbanization in emerging countries of LAMEA and Asia-Pacific region. In addition, prominent countries such as China, the U.S. and Germany, have a large scale of manufacturing plants that utilize industrial heating equipment. Further, technological advancement and ecofriendly fuel will boost the industrial heating equipment market during the forecast period
Analysis of the Covid-19 scenario-
Outbreak of the Covid-19 pandemic has had a preposterous impact on the lives of people. Most of the business verticals across the world were highly affected. The Industrial Heating Equipment market report doles out a compact overview of the Covid-19 impact on the industry. Moreover, it takes in a micro- and macro-economic impact assessment. The report further cites the market extent and share as one of the major impacts of the pandemic. At the same time, it offers a detailed overview of the influence of COVID-19 on the Industrial Heating Equipment market supply chain.
Last but not the least; the market report focuses on the key approaches incorporated by the industry players throughout the global health crisis. In a nutshell, the Industrial Heating Equipment market report offers an overview of pre- as well as post-Covid-19 impact exploration.
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The industrial heating equipment market is driven by rise in demand for steam boilers from various end-use industries such as chemical, pharmaceutical and others. With industrialization and urbanization in emerging countries in LAMEA and Asia-Pacific region, demand for steam boilers has significantly increased in the past few years. In addition, increase in investment by the governments and large scale manufacturers toward adding power generation capacity has also surged the demand for industrial heating equipment in the market and in turn is leading to the industrial heating equipment market growth.
Key Market Segments
By Product Type
- Heat pumps
- Furnaces
- Boilers
By Fuel Type
- Fossil fuel
- Electric
By End-user Industry
- Oil & gas
- Metal & mining
- Chemical
Key Findings Of The Study
- By product type, the boiler segment was the highest revenue contributor in 2020.
- By fuel type, the fossil fuel segment generated the highest revenue in 2020.
- By end-user industry, the others segment generated the highest revenue in 2020.
- By region, the Asia-Pacific generated the highest revenue in 2020.
The major queries answered in the report are given below:
- Who are the frontrunners active in the global Industrial Heating Equipment market?
- What is the dominant scenario of the market?
- What are the existing drifts & leanings that would possibly determine the global Industrial Heating Equipment market study in the next few years?
- What are the driving factors, limitations, and opportunities in the industry?
- What are the probable forecasts for the future that would help in coming up with further strategic steps to propel the growth of the market?
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