Fired Heaters Market in Numbers:
- The fired heaters market registered a value CAGR of over 5% during the period, 2013 to 2017. The fired heaters industry has been significantly influenced by the various open and seamless trade agreements among established players and vendors worldwide.
- The fired heaters market was valued at over US$ 770 Mn in 2018, and is estimated to record approximately 6% Y-o-Y in 2019.
- East Asia will continue to remain the leading market for fired heaters. . China continues to remain attractive, and accounts for 70% sales of fired heaters 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 remain the high-growth market for fired heaters, underpinned by the lucrativeness of key countries such as India where manufacturing and production facilities of chemical & petrochemical products & equipment are likely to grow in the near future.
- A key trend gaining significant momentum in the fired heaters market is the preference for tailor-made fired heaters, designed by considering the specific requirements of clients.
What are Key Factors Driving Growth of the Fired Heaters Market?
- Recent studies indicate that the global energy demand witnessed a marked uptick, with natural gas gaining traction as the fuel of choice - accounting for over two-fifth share of energy consumption. Fired heaters play a vital role in the natural gas-fired furnaces in the energy & power sector, which in turn continues to uphold their demand.
- Expansion of petrochemical and chemical industry has created massive demand for machinery and equipment in use in these industries, which in turn has driven the adoption of fired heaters for improving the combustion performance.
- The companies in end-use sectors are looking for more optimized and efficient equipment for the purpose of heating various hydrocarbons, and fired heaters witnessed sustained demand for efficient provision of energy to these processes.
- Key developments and approaches to control carbon emission in industries has shifted focus of end-users to adoption of fired heaters with closed combustion systems, as these allow conveyance of the combustion air from the surrounding. The use of such fired heaters helps save-up on energy, thereby enabling cost-optimization for end-users and driving sales.
- The control and measurement viewpoints applied in fired heaters are being evaluated on a large scale. Implementation of new control philosophies that combine advanced data analytics, combustion expertise, and new measurement technologies, have paved new opportunities for fired heater manufacturers to leverage technology6 advances and enhance heater performance.
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Fired Heaters Market - Key Restraints
- Manufacturers of fired heaters are expected to adhere to certain regulatory standards imposed by international regulatory bodies. The regulations pertaining to material used for lining fired heaters are most crucial, making manufacturers to fetch for sustainable alternatives.
- The complex and large profile of fired heaters make it essential for professional installation, resulting in additional costs to the end users. In addition, the relatively greater maintenance costs add to the expenses of fired heater deployments, which in turn continues to hinder adoption of fired heaters.
Key Strategies Implemented by Fired Heaters Market Players
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.
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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Direct Fired Heaters Remain Top-Selling Category
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.
An Adaptive Approach to Modern-day Research Needs
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.
The comprehensive research study published by Fact.MR provides exclusive insights pertaining to the fired heaters market along with a long-term overview of the market for the period of 2018 to 2028.
The report focuses on providing the audience with a detailed perspective of the fired heaters market, thereby aiding in making accurate business decisions for the successful growth of their businesses in future. The main objective of the fired heaters report is to provide actionable insights on the advancements in the global fired heaters market.
Chapter 1. Executive Summary
The report commences with a brief summary of the fired heaters market study. The executive summary section provides significant findings pertaining to the market backed with global market outlook and discussion of demand and supply side trends which allows the readers to gain holistic overview of the market.
The unique analysis and recommendations of the fired heaters market provided in the section, further improves the understanding of the reader.
Chapter 2. Market Overview
This section providers a concise introduction to the fired heaters market along with a market definition and taxonomy. Along with this, this section also discusses the scope and limitations of the fired heaters market.
Chapter 3. Key Market Trends
The third chapter outlines the key trends shaping the future of the fired heaters market. The detailed understanding of innovative configurations of fired heaters, discussion on the consumption of heat energy, and production output further enables the reader to gain exclusive fired heaters market insights.
Chapter 4. Market Background
This chapter offers a detailed understanding of the fired heaters market background. This chapter involves the outlook of the energy sector in terms of investments, company analysis based on the region and customer type, historical and current oil and gas production scenario, along with the upcoming projects.
Furthermore, the evaluation of macro-economic factors and their impact on the overall fired heaters market growth is also discussed in this chapter. Apart from this, the chapter highlights the forecast factors, key fired heaters market dynamics, and a thorough supply chain analysis.
Chapter 5. Global Fired Heaters Market Analysis & Forecast
The fifth chapter compiles the evaluation and forecast of the fired heaters market. The study evaluates the market with the help of a detailed assessment based on the market size and volume. The chapter also includes an assessment of the Y-o-Y growth trend and absolute dollar analysis to understand the market thoroughly.
Chapter 6. Global Fired Heaters Market - Pricing Analysis
This section of the fired heaters market study elaborates the pricing of the product and offers an in-depth evaluation based on the heating capacity. To help the report audience in gaining a comprehensive understanding of the product pricing, the fired heaters market report offers a pricing break-up along with a global average pricing assessment benchmark.
Chapter 7. Market Demand Assessment and Forecast
The fired heaters market report is backed with a significant assessment of the historical and current fired heaters market in terms of the market value. Backed by the historical and current market scenario, the fired heaters market is study offers projections for the forecast period of 2018-2028.
Chapter 8. Segmentation of Global Fired Heaters Market by Product Type
With this chapter the segmentation analysis of the global fired heaters market is initiated. The first section covers the segmentation of the global fired heaters market on the basis of product type. The chapter begins with an introduction followed by a historical and current market analysis in terms of market value and volume and concludes with the market forecast with respect to the segment.
Chapter 9. Segmentation of Global Fired Heaters Market by Configuration
The chapter covers the segmentation of the global fired heaters market on the basis of configuration. The chapter includes an introduction, key findings pertaining to the segment, historical and current market analysis in terms of market value and volume and fired heaters market forecast by configuration.
Chapter 10. Segmentation of Global Fired Heaters Market by Heating Capacity
The chapter offers a segmentation analysis of the global fired heaters market on the basis of heating capacity. The chapter comprises of an overview, major outcomes pertaining to the heating capacity segment, historical and current market evaluation with respect to market value and volume and fired heaters market forecast by heating capacity.
Chapter 11. Segmentation of Global Fired Heaters Market by End-Use Sector
This chapter includes the assessment of segmentation of the global fired heaters market on the basis of end-use sectors. The chapter offers an overview of the end use sectors, major findings pertaining to this segment, historical and current market assessment in terms of market value and volume and the forecast of the fired heaters market by end-use sector.
Chapter 12. Global Fired Heaters Market - Regional Analysis & Forecast
The next chapter offers a detailed analysis of the key regions across which the global fired heaters market is operated. The chapter offers an overview of the regional markets along with key findings regarding the regions. The historical and current market assessment in terms of market value and volume and the forecast of the fired heaters market by region further boosts the credibility of the fired heaters market study.
Chapter 13. Evaluation of Fired Heaters Market in North America
The detailed assessment of the fired heaters market in North America is discussed in this chapter. The key developments, trends, and factors influencing growth are included in the chapter with a detailed, country-level evaluation, allowing readers to gain an extensive understanding of the North American fired heaters market.
Chapter 14. Evaluation of Fired Heaters Market in Latin America
The in-depth evaluation of the fired heaters market in Latin America is provided in this chapter. The key developments, trends, and factors influencing growth in this region are compiled in this chapter with a thorough, country-wise evaluation, giving clients an extensive understanding of the fired heaters market in Latin America.
Chapter 15. Evaluation of Fired Heaters Market in Europe
The thorough analysis of the European fired heaters market includes key developments, industry trends, and factors stimulating growth in Europe The chapter compiles a thorough, country-wise evaluation, giving clients a comprehensive overview of the fired heaters market in Europe.
Chapter 16. Evaluation of Fired Heaters Market in East Asia
The analysis of the fired heaters market in East Asia is compiled in this report. The chapter discusses the pricing, historical and current market scenario, key developments, trends, and growth drivers in the region along with a deep-rooted, country-wise evaluation of the fired heaters market in East Asia.
Chapter 17. Evaluation of Fired Heaters Market in South Asia
The assessment of the fired heaters market in South Asia is provided in this report. The chapter discusses the pricing, key developments, historical and current market scenario, trends, and growth drivers in the region along with a deep-rooted, country-wise evaluation of the fired heaters market in East Asia.
Chapter 18. Evaluation of Fired Heaters Market in Oceania
The evaluation of the Oceania fired heaters market is included in this report. This chapter discusses the pricing in the region along with key developments, historical and current market scenario, trends, and market growth drivers in the Oceania region with an in-depth, country-wise assessment of the fired heaters market in Oceania.
Chapter 19. Evaluation of Fired Heaters Market in Middle East
The evaluation of the fired heaters market in Middle East is provided in this study. The chapter discusses the key developments, pricing, historical and current market scenario, key industry trends, and growth drivers in the region and offers a detailed country-wise evaluation of the Middle East fired heaters market.
Chapter 20. Evaluation of Fired Heaters Market in India
The evaluation of the fired heaters market in India is discussed in the chapter along with key developments, pricing, historical and current market scenario, key industry trends, and growth drivers in the region.
Chapter 21. Evaluation of Fired Heaters Market in Brazil
The evaluation of the fired heaters market in Brazil is compiled in the chapter along with an analysis of the key developments, pricing, historical and current market scenario, key industry trends, and growth drivers in the region.
Chapter 22. Competitive Assessment
This chapter of the fired heaters market study provides a detailed evaluation of the fired heaters market competitive structure. The chapter includes a unique dashboard view of the prominent players in the fired heaters market.
This chapter also includes the company share analysis of the key players in the fired heaters market. The chapter also includes the recent developments made by the players operating in the fired heaters market.
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