The global industrial heating equipment market report offers the complete market share, size, and the growth rate of different segments at both the country and regional levels. It provides an in-depth study of the market subtleties such as the current trends, drivers, opportunities, and even the restraining factors. The report also highlights the qualitative aspects in the study. Additionally, the unit takes in the key findings, in terms of market overview and investment prospects. The market report also involves the competitive landscape containing the profiles of top ten major players in the industry. The frontrunners have been thoroughly assessed based on their revenue size, service/product portfolio, regional presence, key plans & policies, and overall contribution to the growth of the market.
Industrial heating equipment include systems such as boilers, heat pumps and furnaces used in industries such as chemical, oil & gas, metal, mining and others to carry out manufacturing processes. Boiler is a closed vessel in which water or other liquid is heated and steam is generated, which then acts as a driving force for machines when disposed under high pressure
industrial heating equipment market was valued at $36,861.7 million in 2020, and is expected to reach $64,134.8 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.
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Covid-19 Scenario:
- Owing to temporary closure of manufacturing facilities and disruptions in the supply chain, the global industrial heating equipment market has been negatively impacted, especially in the initial period of the pandemic.
- Unavailability of raw materials and shortage of skilled labor force was a major challenge, which is why, carrying out manufacturing in full capacity was impossible.
- The demand from applications sectors reduced significantly due to stoppage of new construction, deployment, and maintenance activities during the lockdown. However, the demand is expected to regain during the post-lockdown.
The industrial heating equipment market is majorly driven by rise in demand for steam boilers from various end-use industries. Increase in continuous and stable energy demands from industries in developing economies, such as China, India, Japan, and Brazil, boosts the growth of the steam boiler, which in turn drives the industrial heating equipment market
Report coverage & details:
| Report Coverage | Details |
| Market size available for the years | 2022-2031 |
| Base year considered | 2021 |
| Forecast period | 2022-2031 |
| Forecast unit | Value (USD) |
| Segments covered | Product TypeApplicationEnd User |
| Regions covered | North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific)LAMEA (Latin America, the Middle East, and Africa) |
| Companies covered | Carrier, DANFOSS A/S, Easco Boiler Corp., EMERSON ELECTRIC CO., Ingersoll Rand Inc., JOHNSON CONTROLS, Lennox International Inc., McKenna Boiler Works Inc., Thermcraft, Inc., Uponor Corporation |
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increase in oil & gas exploration and production activities and rise in expansion projects coupled with other construction activities in developing and developed economies propels the demand for steam boilers, which, in turn, drives the growth of the market in the coming years. In addition, increase in investment toward adding power generation capacity is driving the industrial heating equipment market. The industrial heating equipment market in regions, such as Asia-Pacific, the Middle East, Latin America, and Europe, exhibits potential growth opportunities due to rise in investment toward building and construction of new power generation infrastructure in the region.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging industrial heating equipment market trends and dynamics.
- In-depth industrial heating equipment market analysis is conducted by estimations for the key segments between 2021 and 2030.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The market forecast analysis from 2021 to 2030 is included in the report.
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.