Immersion Heater Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: SE231208 | Research Suite: Report (PDF) & Market Data (Excel)
The global market value of the immersion heater market was valued at USD 770.29 million in 2022, and a CAGR of 5.9% is expected during the forecast period. Immersion heaters are versatile devices used for heating liquids, primarily in industrial, commercial, and residential settings. Some common applications include water heating, industrial processes, laboratory use, the food industry, agriculture, and the oil and gas industry. The continual growth of industries like oil and gas, chemical processing, food and beverage, and pharmaceuticals necessitates efficient heating solutions, driving the demand for efficient heaters.
Innovations in materials, designs, and control enhance the efficiency, reliability, and safety of immersion heaters, attracting industries to adopt newer and more efficient heating technologies. Increased focus on energy conservation and the development of energy-efficient immersion heaters help industries reduce their operational costs. The rise in renewable energy products and the expansion of the food and beverage industry are driving the growth of the market.
Impact
of Covid-19
COVID-19 significantly impacted the immersion heater market.
Due to disruptions in supply chains and rising economic uncertainties, the market
had to face a slowdown. However, as people adapted to remote work, the demand
for immersion heaters for heating the water at home increased, and the market
significantly noticed the growth. Big markets like the United States and China
were badly affected by COVID-19, and overall market growth was affected by it.
Post-COVID-19, the market significantly noticed a growth in demand. China and
India, being the most populous countries in the world, are significantly
contributing to the market for immersion heaters.
Growth
Drivers
The immersion heater market’s growth drivers include technological advancements, energy efficiency, and increasing demand in various industries like oil and gas, beverages, chemicals, and food. Expanding use of these heaters in residential applications due to their convenience and effectiveness is driving the growth of the market significantly.
The market is also promoted by regulatory policies, promoting energy-efficient appliances, and the rising adoption of electric heater solutions worldwide. More efficient heating technologies are driving the growth of the market. Fast-tracked building development projects and increasing demand for energy-efficient and environmentally friendly products are driving the growth of the market.
The growing focus on replacing conventional heating systems with immersion heaters is driving the growth of the market significantly. Immersion heaters are popular due to their versatility, from heating water in homes to industrial processes in diverse industries. They offer direct heating, transferring heat directly into the liquid.
They are relatively simple to install, either by screwing them
or by attaching them via a flange. They are cost-effective to purchase and
operate, providing an efficient heating solution at a reasonable price.
Immersion heaters are available in different shapes, sizes, and materials,
making them adaptable to different environments.
Segmentation
By
Product Type
·
Flanged Immersion Heater
·
Screw Plug Immersion Heater
·
Circulation Immersion Heater
·
Over-the-side-immersion Heater
By
End-User
·
Oil, and Gas Industry
·
Chemical Industry
·
Automotive Industry
Regional
Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East, and Africa
Immersion
Heater Market End-User Industry
On the basis of end-users, the immersion heater market is segmented into the oil and gas industry, chemical industry, and automotive industry. The immersion heater market typically caters to various end-users, including residential, commercial, and industrial sectors. In residential settings, they are used for heating water at home. Commercially, they are applied in hotels, hospitals, and other industrial facilities. They are utilized in manufacturing processes across different industries, like chemicals, oil and gas, and food and beverages.
Immersion
Heater Market Product Type Segmentation
On the basis of product type, the immersion heater market is segmented into flanged immersion heaters, screw-plug immersion heaters, circulation immersion heaters, and over-the-side immersion heaters. A flanged immersion heater is a type of immersion heater in which there is a flange, or a projecting rim or collar, designed for easy installation in tanks or containers. These heaters are commonly used in industrial applications for heating liquids like water, oil, or chemicals in tanks or reservoirs.
The flange allows
for secure attachment to the container, enabling efficient heat transfer.
Screw-plug immersion heaters are another type of immersion heater designed with
a threaded plug that is easily screwed into a tank or container. They are
versatile and often used in various applications, like water heating in
boilers, oil heating in tanks, and industrial processes that require precise
and localized heating. These heaters allow flexibility in various heating
setups. A circular immersion heater refers to a specific design of immersion
heater with a rounded or circular shape. They are tailored for specific
applications where a compact, rounded heating element is required.
Regional
Outlook
On the basis of regions, the immersion heater market is segmented into 5 parts: Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. North America is leading the market due to regulatory policies, according to which low-efficiency appliances were needed to be replaced. Environmental pollution is not acceptable at all in North America. The presence of the leading manufacturers in the region is driving the growth of the market.
Though COVID-19 has hampered the growth rate, after a certain
time, the demand for the product increased. Europe is another leading market
worldwide due to strict environmental measures related to fuel efficiency
technology and carbon emissions across Germany, France, Italy, and the United
Kingdom. There was a moderate effect of COVID-19 on European countries.
Manufacturers in this region almost did not have to face the change in
operations. Surging demand for immersion heaters across countries like China,
Japan, India, and South Korea is driving the market towards a big success.
Brazil, Saudi Arabia, and Other countries in Middle East region are mainly emphasizing on it, as they seek to provide the best services to their clients, and modern quality products to their customers.
Key
Players
·
Wattco
·
Watlow
·
Nibe group
·
Circor International
·
Omega Engineering INC
·
Minco Products
·
Heatrex
·
Philips, and Termo Industries
·
Electric Heat Components Co.
·
Warren Electric Corporation
· Other Players