Fired Heaters Market Trends Research and Projections for 2018 – 2028
Posted by Preet on October 9th, 2019
The global fired heaters market is characterized by a mix of consolidation of high-end solutions, and fragmentation of low end products. The top five companies collectively account for leading shares of the fired heaters market. Product innovation, development of industry-specific solutions, and expansion in proliferating regional markets, are some of the key growth strategies of leading players in the fired heaters market.
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Investment into new product developments by fired heater manufacturing giants have witnessed a marked rise in the recent past, owing to the expanding application scope of fired heaters. These players are also focusing on discovering new materials and innovations in processes, to save on cost while focusing on sustainability.
Process-specific development of fired heaters is another key focus area of the market players that has gained emphasis recently, in line with growing number of contracts between manufacturers and end users for delivering customized, tailor-made solutions, which has further led to widening application scope of the fired heaters as a consequence. The opportune potential of East Asian and South Asian markets has traditionally been strong for players in the fired heaters market, and the status-quo is expected to prevail in the near future, as more manufacturers invest into erecting manufacturing facilities in the region to cater growing demand.
Key players operating in the fired heaters market, as profiled in the study, include AbsolutAire, Inc., TechEngineering S.r.l., Optimized Process Furnaces, Inc., G.C. Broach Company, Thermax, Exotherm Corporation, Amec Foster Wheeler, Sigma Thermal, Hetsco Inc., Unit Birwelco Group, and Boustead International Heaters Ltd.
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Against the backdrop of emerging emission control requirements coupled with the increasing demand for cost-effective equipment in industries, end-use sectors are preferring direct-fired heaters, owing to relatively greater cost-effectiveness, durability, and application diversity. In addition, as end users look for greater efficiency in their heating processes, direct-fired heaters are gaining utmost preference in light of their capability to attain 100% efficiency.
According to the study direct-fired heaters are estimated to account for over 75% sales. Companies operating in the fired heaters market continue to explore new ways to cash in on growing customer inclination towards direct-fired heaters, formulating key strategies such as collaborations and new product development. Direct-fired heaters that deliver high air volume in proportion to the heat output are key developments of the market players in the recent past for gaining a competitive edge.
The fired heaters market research study that provides market values and forecasts for the market is based on the upheld and validated research methodology that involves the extensive primary and secondary researches. The established industry experts and analysts at Fact.MR have validated the data gathered through research on the fired heaters market, which added to the credibility of the report. The fired heaters market acts as a vital business tool that authentic source of information for both established as well as emerging players in the fired heaters market. With the help of this business tool, the stakeholders are able to take key decisions and formulate long-term growth strategies for the growth of their business.
