The North America Industrial Heating Element Market was valued at USD 1,195.1 million in 2020 and is estimated to reach market value of USD 1599.8 million by 2028 growing at a CAGR of 4.3% during the forecast period 2021-2028. Heating elements convert electric energy to heat energy due to the resistance. The heating element market has products that use the renewable sources of energy such as coal, petroleum, etc.

These products produce ash and smoke that is not beneficial to the environment. The demand of the products has surged due to the above reasons and the rising concerns of people towards the environment. The heating elements on the basis of characteristics are classified into basic heating elements which include metal heating elements, ceramic and semiconductor heating elements, thick film heating elements and polymer heating elements. The other types of heating elements based on characteristics are composite heating elements and combination heating element systems

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The heating element market is segmented based on the product types, end users and region. Based on the product type the market is segmented into band heaters, circulation heaters, immersion heaters, strip heaters, tubular heaters and infrared heaters. The end user market is segmented according to the segments that are the consumers for the market which include building and construction, chemical and plastic, food processing, oil and gas and pharmaceuticals. Based on the North America region the market is segmented mainly for United States and Canada.

During the COVID-19 pandemic the market witnessed a decrease in growth due to the import and export restrictions due to the lockdowns imposed in various countries to curb the pandemic. The pandemic hampered the supply chains which affected the availability of products in the market. The sales of the products also reduced due to the shutdown of almost all the industries except the pharmaceutical industry which was a setback for the manufacturers. The market players in the region are caring out extensive R&D activities to enhance their products and undertaking marketing campaigns to foster the supply chain that were affected by the pandemic. The gradual lifting of the lockdowns in countries as the virus spread is gradually under control the market is estimated to recover gradually and grow in the upcoming years.

As per Growth Market Reports industry analyst Alok Sahu, “the market is anticipated to have a significant growth during the forecast period 2021-2028. The preference of consumers for the electric heating element products when compared to the conventional heaters are the damage the environment will be a reason for the growth of the market. The low cost of product and the maintenance costs than the heaters using conventional sources will be a major driver for the growth of the market. However, the growth will be hampered due to the availability of cheap counterfeit products and low availability of cheap labor will be a concern for the market.”

Key Takeaways from the Study

  • The pharmaceutical segment is projected to have a significant growth during the forecast period as they are used to maintain temperatures and keep the medium safes from losses.
  • The tubular heaters are estimated to represent a major revenue share due to the rising concerns for the environmental issues caused by the other products in the segment and their capability to set precise temperature settings which can be a driver for the growth of the tubular heaters.
  • The immersion heaters are among the heaters that are projected to hold a significant market share, they are immersed on liquids for heating and the preference of the consumers for the immersion heaters.
  • United States is projected to have a major market share during the forecast period 2021-2028 due to the stringent regulations imposed by the government to control the environmental damages and the tax exclusions for using the renewable sources of heating. Canada will be other segment that will dominate the market due to the concentration of business in high population regions and also the regulations imposed by the government due to the concerns for the environmental damages.
  • The technological advancements in the market will be a growth driver for the market which will help to innovate the existing products in the products.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 1,195.1 Million

Market Growth Rate (from 2020 to 2027)

4.3%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Units Considered

Value (US$ Million)

Market Segments

By Product type, By End User, By Region

Regional Scope

North America

Key Companies Profiled

Chromalox (Spirax-Sarco Engineering), Minco Products Inc, Omega Engineering (Spectris plc), Indeeco, Durex Industries, Industrial Heater (Industrial Heater Corp), Tempco Electric Heater Corporation, Accutherm, Inc, American Heating Company, Inc., Hotset GmbH, NIBE Industrier AB, and Rama Corporation

Customization Scope

Report customization available on request

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