According to the recently published study by Fact.MR, the global sales of fired heaters were close to 695 units in 2018, and are estimated to register approximately 5% Y-o-Y in 2019. The fired heaters industry remains influenced by a slew of factors that range from continued adoption in chemical and petrochemical industries, to focus of manufacturers in optimizing the operational efficiencies of fired heater to minimize energy consumption.
The study finds that energy demand witnessed a remarkable rise in 2018, and the consumption continues on an upward spiral, primarily driven by pervasive rise in cooling and heating requirements. As fired heaters used in process industries, such as chemical, petrochemical and pharmaceutical, account for a notable energy consumption, leading manufacturers are putting efforts to optimize the heater operation even in fluctuating loads. Development of hardware-based control schemes to reduce the NOx emissions, is another key focus area of leading players in the fired heaters market.
According to the study, the direct-fired heaters was estimated to account for over 70% market share in the global fired heaters market. The increasing consumer demand for cost-effective yet highly productive fired heaters, coupled with a higher preference for efficient heating equipment has translated into a significant demand for direct-fired heaters, in light of their capability to attain 100% operational efficiency. This rise in demand for direct-fired heaters is prompting leading manufacturers to focus on the development of equipment with improved air volume to heat output ratios.
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Fired Heaters Market – Scope of Report:
A latest publication by Fact.MR on the global Fired Heaters market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.
The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.
The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2018-2028.
Important indicators for the successful growth of the Fired Heaters market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.
This research study can support readers to know the demand for Fired Heaters supplements, and the quantitative development opportunities during the study period.
The research is beneficial for shareholders in Fired Heaters, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.
Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.
Attractiveness of East Asia for Fired Heater Manufacturers Endures:
According to the study, East Asia will continue to remain the most attractive market for fired heaters, with sales estimated to account for nearly 25% sales in 2019. China continues to remain an attractive market for fired heater manufacturers, and accounts for over 70% sales in East Asia. As China is home to numerous chemical and petrochemical process equipment facilities, the market players continue to focus on strengthening their distribution and optimizing the supply chain to leverage the growth potential in the country.
South Asia will also remain lucrative for fired heater manufacturers, and the study opines that sales in the region will grow at a relative faster rate than those in East Asia in the foreseeable future. This can be significantly attributed to the lucrativeness of key countries such as India, where manufacturing and production facilities of chemical & petrochemical products & equipment are likely to grow in the upcoming years. 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.
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Report benefits & key questions answered
- Post covid consumer spending on Fired Heaters: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
- Fired Heaters demand outlook: the market intelligence study reports highlights the factor propelling the demand for Fired Heaters. As per the study, the demand for Fired Heaters will grow through 2028.
- Fired Heaters historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2018-2028.
- Fired Heaters consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.
Fired Heaters Market Segmentations:
-
Product Type
- Direct-fired heaters
- Reformer
- Hydrocracker
- Gas Oil Hydrocracker
- Crude Distillation
- Others
- Indirect fired heaters
- Direct-fired heaters
-
Configuration
- Vertical cylindrical
- Horizontal cylindrical
- Cabin type
-
Heating Capacity
- Upto 10 MMBtu/hr
- 11-50 MMBtu/hr
- Above 50 MMBtu/hr
-
End-Use Sector
- Chemical
- Petrochemical
-
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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