What is Global Electric Heater Market?
The Global Electric Heater Market is a vast and dynamic sector that encompasses a wide range of products and applications. Electric heaters are devices used to convert electrical energy into heat, and they are utilized in various industries and households worldwide. The global market for these heaters is continually evolving, driven by technological advancements, changing consumer preferences, and varying climatic conditions. In 2022, the market's value stood at a significant US$ 8384 million, indicating the high demand for these products. The market is projected to grow further, reaching an estimated value of US$ 10840 million by 2029. This growth trajectory, which represents a Compound Annual Growth Rate (CAGR) of 3.7% from 2023 to 2029, underscores the market's potential and the opportunities it presents for manufacturers and investors alike.
Immersion Heaters, Tubular Heaters, Circulation Heaters, Band Heaters, Strip Heaters, Coil Heaters, Flexible Heaters, Others in the Global Electric Heater Market:
The Global Electric Heater Market is segmented based on the type of heaters, which include Immersion Heaters, Tubular Heaters, Circulation Heaters, Band Heaters, Strip Heaters, Coil Heaters, Flexible Heaters, among others. Each of these heaters has unique features and applications, catering to different needs and requirements. For instance, Immersion Heaters are designed to heat liquids directly, making them ideal for industrial applications such as chemical processing. On the other hand, Tubular Heaters are versatile and can be used in a variety of applications, from heating air to heating liquids. Similarly, Circulation Heaters are used to heat fluids as they pass through a heated chamber, while Band Heaters are used to heat cylindrical surfaces. Strip Heaters, Coil Heaters, and Flexible Heaters are also widely used, each offering specific advantages. Among these, Flexible Heaters hold the largest market share, accounting for about 30% of the global market.
Chemical & Plastics Industry, Pharmaceutical Industry, Transportation, Appliances, Others in the Global Electric Heater Market:
The Global Electric Heater Market also varies based on the application, with key areas of use including the Chemical & Plastics Industry, Pharmaceutical Industry, Transportation, Appliances, and others. In the Chemical & Plastics Industry, electric heaters are used for processes such as heating raw materials, maintaining temperature during reactions, and drying finished products. In the Pharmaceutical Industry, they are used for sterilization, temperature maintenance, and other processes. In the Transportation sector, electric heaters are used in vehicles for comfort and safety purposes, such as heating seats and defrosting windows. In Appliances, electric heaters are used in a wide range of products, from water heaters to ovens. Among these applications, Appliances hold the largest share, accounting for about 50% of the global market.
Global Electric Heater Market Outlook:
In conclusion, the Global Electric Heater Market is a robust and growing sector, with a diverse range of products and applications. The market's value, which stood at US$ 8384 million in 2022, is projected to reach US$ 10840 million by 2029, growing at a CAGR of 3.7% during the forecast period. The market is dominated by a few key players, who collectively hold over 30% of the global market share. The market is also segmented based on the type of heaters and their applications, with Flexible Heaters and Appliances holding the largest shares in their respective segments.
| Report Metric | Details |
| Report Name | Electric Heater Market |
| Accounted market size in 2022 | US$ 8384 in million |
| Forecasted market size in 2029 | US$ 10840 million |
| CAGR | 3.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Zoppas Industries, NIBE, Watlow (Tinicum), Zhenjiang Dongfang Electric Heating Technology, Spirax-Sarco Engineering plc, Tutco, Thermon, Thermowatt (Ariston Thermo), Tempco Electric Heater Corporation, Minco Products, Inc., Hotset GmbH, Headway Electric Heat Components, Honeywell, OMEGA(Spectris plc), Holroyd Components Ltd, Durex Industries, Thermal Corporation, Friedr. Freek GmbH, Wattco |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
