Dublin, April 14, 2021 (GLOBE NEWSWIRE) -- The "Industrial Heating Equipment Market Analysis By Product, By Application And Segment Forecasts, 2017-2026" report has been added to ResearchAndMarkets.com's offering.
The growing construction industry and an increase in demand for energy-efficient solutions are likely to stimulate demand for industrial heating equipment.
The Global Industrial Heating Equipment Market size is expected to reach USD 33.88 billion by 2027
After a disappointing trade flow in 2016-2017, global trade in the first half of 2018 has shown significant improvement owing to low global manufacturing output along with unstable crude oil prices.
Moving forward, the vulnerability in raw material prices remains a concern, along with unpredictable trade policies adopted by major consumers and manufacturers. The chemical and mining sectors accounted for the largest share in the industrial heating equipment market. This has been calculated on the basis of chemical industries outlook for the future by precedence to a capacity addition of the chemical and the mineral, material, and mining industries.
An increase in demand for residential buildings in developed economies, driven by low-interest rates, a decrease in unemployment rates, and low debt service ratios, will positively contribute to the construction activities, which will aid in the growth of the industrial heating equipment market.
Further key findings from the report suggest
The heat pump segment was valued at USD 2.53 billion in 2019 and is estimated to reach USD 3.46 billion by the end of the forecast period. The segment is anticipated to grow at a CAGR of 4% due to an exponential increase in the capacity of SMEs under the specialty chemical industry in Asia. This segment registered a decline in production by 11% during 2014-2016; however, it is expected to pick up the pace by the end of 2019.
The U.S. region is expected to grow significantly during the forecast period at a CAGR of 4.6%. The industrial sector in the U.S. contributed to over 30% of the thermal demand in the region. In 2010, the petroleum refining and chemicals industries accounted for 31% and 20% of the total process heating energy use, respectively. The petroleum refining and chemical industries use more than 1 quad of energy each for process heating.
The demand for thermal energy varies from 900 GJ to 3.6 TJ depending on the size of a refinery plant. The industrial manufacturing sector of Canada accounts for nearly 65% of the thermal energy demand. The paper & pulp and petroleum refining industries are the largest consumers of industrial heating equipment.
Key participants in the industry include Danfoss, Ingersoll-Rand Plc, Lennox International, Inc., Daikin Industries Ltd., Robert Bosch GmbH, Johnson Controls, Uponor Corporation, United Technologies Corporation, Emerson Electric Co. and Honeywell International Inc.In 2018, Danfoss acquired shares in Finland-based developer and provider of turnkey IoT solutions, Leanheat. Danfoss plans to strengthen its global position in building energy optimization and management.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Industrial Heating Equipment Market Segmentation & Impact Analysis
4.1. Industrial Heating Equipment Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Industrial Heating Equipment Market Impact Analysis
4.4.1. Market driver analysis
22.214.171.124. Growing Construction Industries
126.96.36.199. Demand for energy efficient solutions
4.4.2. Market restraint analysis
188.8.131.52. High Costs
4.5. Key opportunities prioritized
4.6. ETOP Analysis
4.7. Porter's Five Forces Analysis
4.8. Competitive Metric Space Analysis
4.9. Price trend Analysis
Chapter 5. Industrial Heating Equipment Market By Product Insights & Trends
5.1. Product Dynamics & Market Share, 2018 & 2026
5.2. Heat Pumps
5.4. Unitary Heaters
5.6. Radiant Heaters
Chapter 6. Industrial Heating Equipment Market By Application Insights & Trends
6.1. Application Dynamics & Market Share, 2018 & 2026
6.2. Oil & Gas
6.3. Mining Materials & Metals
6.4. Machinery Manufacturing Industry
Chapter 7. Industrial Heating Equipment Market Regional Outlook
7.1. Industrial Heating Equipment Market share by region, 2018 & 2026
Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Market positioning
8.5. Strategy Benchmarking
8.6. Vendor Landscape
Chapter 9. Company Profiles
United Technologies Corporation
Lennox International Inc.
Daikin Industries Ltd.
Robert Bosch GmbH
Emerson Electric Co.
Honeywell International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/8qgmjc
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