Latest News- Fired Heaters Market: Oil and gas is expected to lead the Product segment during 2025-2029

The Fired Heaters Market is being driven by Rise in global oil and gas refinery capacity

The Fired Heaters Market is expected to grow at a CAGR of 3.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 171.3 million. Electric-fired heaters, which convert electricity into steam or hot water, have faced limitations in industrial and commercial applications due to the high cost and unreliable supply of electricity. However, recent advancements in power generation technology, including reduced transmission losses and increased global electricity generation capacity, have led to a decrease in the average unit price of electricity. Furthermore, many developed and rapidly growing developing countries have ensured a consistent electricity supply. Sigma Thermal Inc. provides immersion and circulation electric heaters, offering power outputs ranging from 2 watts to 60 watts per square inch. 

Get more information on Fired Heaters Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in global oil and gas refinery capacity
• Emerging regulations and increasing government initiatives to reduce emissions
• Growth in global petrochemical and specialty chemicals industries

However, the market also witnesses some limitations, which are as follows:

• Volatility in manufacturing costs
• Global shift toward solar and wind energy
• Growth of rental market

Benefits of Buying Global Fired Heaters Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Fired Heaters Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Fired Heaters market encompasses Direct Fired Heaters and Indirect Fired Heaters used in Oil & Gas industries, including Refineries, Gas Plants, and Petrochemicals. These heaters come in Vertical Cylindrical and Horizontal Cylindrical designs, providing Heat Generation Equipment for Oil, Gas, and Steam. Advanced control systems and Automation technologies are integrated with IoT and Connectivity solutions for Emission Control and Predictive Maintenance. Amidst Environmental Regulations, Digitalization is driving the adoption of CO2 emissions reduction technologies in Fired Air Heaters, Furnaces, and Process Heaters. Chemicals sector also benefits from this technology for various applications.

Market Research Overview

The Fired Heaters market is a significant segment of the larger industrial machinery and supplies and components market. This market encompasses companies manufacturing Direct Fired Heaters (DFH) and Indirect Fired Heaters (IFH), including Vertical Cylindrical and Horizontal Cylindrical designs. The global industrial machinery and supplies and components market's size is determined by Technavio based on the consolidated revenue of machinery and component manufacturers supplying to industrial sectors. The market's growth is primarily driven by the expanding industrial output in process and discrete industries, fueled by increasing global demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies. The integration of Internet of Things (IoT) technology in fired heaters is also expected to boost market growth by enhancing operational efficiency and productivity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/