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Immersion Heater Market Size, Share & Industry Analysis, By Product Type (Over-the-side Immersion Heater, Flanged Immersion Heater, Screw Plug Immersion Heater, Circulation Immersion Heater), By End-user (Gas & Oil Industry, Chemical Industry, Automotive Industry, Others) And Regional Forecast 2023-2030

Region : Global | Report ID: FBI105389 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

An immersion heater is a device that is installed in a container or tank to heat liquid substances such as, oil, chemical and water. The installation can be flanged, over-the-side or screw plugged. It is also utilized to stabilize the gas inside the tanks. These heaters are designed to withstand every virtual condition and can be used under any acidic medium or in a pure water tank.


The emergence of immersion heater is attributed to its advantages such as, ecologically sound, cost effective method and most importantly, can be utilized as a backup supply of hot water. Additionally, it is primarily utilized for heating material across industries including, gas & oil, chemical, automotive and others to provide clean energy source without leaving pollutants and residual discharge. This in turn, is expected to bolster the market growth. Moreover, the rapid development of environmental-friendly building projects coupled with stringent government regulations and end-user preference of installing heating systems with reduced power consumption is expected to fuel the global immersion heater market growth.


Global immersion heater market participants such as, Omega Engineering Inc., Watlow, Tempco Electric Heater Corporation, Tutco and others are providing customized options as per the end-user requirements. It is because, in recent years, countries such as, Brazil, India, Indonesia, Turkey, Saudi Arabia, etc. are emphasizing on replacing conventional heating systems with immersion heaters. The main reason being, in the immersion heater, heating element inside can be removed and quickly replaced without any equipment being used.


Considering the above-mentioned points, the global immersion heater market is projected to observe booming growth in the forecast period.


Key Market Driver -

• Fast-tracked building development projects • Increasing demand for environmental friendly appliances

Key Market Restraint -

• High maintenance cost


Key Players Covered:


Key players operating in the global immersion heater market are Wattco, NIBE Group, Watlow, Chromalox, Warren Electric Corporation, Tempco Electric Heater Corporation, Hotset GmbH, Tutco, CIRCOR International, Inc., CCI Thermal Technologies, Durex Industries, Delta MFG., THERMOWATT spa, Omega Engineering Inc., Zoppas Industries, Headway Electric Heat Components CO., LTD, Minco Products, Inc, Heatrex, Phillips & Temro Industries and others.


Regional Analysis


North America is in the best position to lead the market. It is attributed to the regulatory policies that the governmental bodies have set in order to decrease the nature of low-efficiency and environmental polluting appliances. Additionally, leading manufacturers such as, Wattco, Tempco Electric Heater Corporation and others are manufacturing these heaters by obeying the industrial standards such as, UL and CSA that is further increasing the demand for immersion heaters. However, the COVID-19 pandemic has halted the manufacturing processes and is probable to sustain for a substantial period in the future. The immersion heater being an industrial component is witnessing demand downfall owing to, unsettled the supply chain and international trade.


Europe shows strong market growth in the forecast period owing to, the strict environmental measures related to fuel efficiency technologies and carbon emissions across the U.K., Germany, Italy and other European countries. Across Europe, the immersion heater market is moderately affected by the COVID-19 pandemic. The manufacturers have experienced roughly unchanged operations in the heating sector. For instance, in February 2020, NIBE Group acquired Nathan Holding B.V. to strengthen its heating and cooling solution business across the Netherlands, Luxemburg and Belgium.


Asia Pacific is witnessing the highest CAGR. It is attributed to the surging demand for immersion heaters across gas & oil, chemical and manufacturing industries in countries including, China, Japan, India and others. The Middle East & Africa and South America are anticipated to witness substantial growth. It is mainly attributed to the growing focus on replacing conventional heating systems with immersion heaters as it adhere to cost-saving and energy efficient systems. Brazil, Saudi Arabia and others are mainly emphasizing on it as these they largely focuses on providing modern quality products to its customers.


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Segmentation






















  ATTRIBUTE


  DETAILS

By Product Type




  • Over-the-side Immersion Heater

  • Flanged Immersion Heater

  • Screw Plug Immersion Heater

  • Circulation Immersion Heater



By End-user




  • Gas & Oil Industry

  • Chemical Industry

  • Automotive Industry

  • Others



By Region




  • North America (U.S., Canada and Mexico)

  • Europe (U.K., Germany, Spain, Italy, France, Benelux, Nordics and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania and Rest of Asia Pacific)

  • Middle East & Africa (Israel, Turkey, GCC, North Africa, South Africa and Rest of the Middle East & Africa)

  • South America (Brazil, Argentina and Rest of South America)



Key Industry Developments



  • April 2020: Minco Products, Inc. has expanded its product line of ESA (European Space agency) qualified heaters to support their customers in heating applications across missions including, solar system exploration, telecommunication and earth observation.

  • January 2018: Phillips & Temro Industries introduced ‘Zerostat Forced Flow Circulation Heater’ for diesel and natural gaseous gensets that runs at optimal temperature and is CSA, UL certified.


  • Ongoing
  • 2021
  • 2018-2020

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