As per Future Market Insights, the Immersion Heater market is anticipated to attain a value pool of USD 800 Million by 2023-end. Global demand for immersion heaters is expected to rise at a CAGR of 5% to USD 1,300 Million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 800 Million |
| Projected Market Value in 2033 | USD 1,300 Million |
| Growth Rate (2023 to 2033) | 5% CAGR |
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The immersion heater market has been growing steadily in recent years, driven by increasing demand for efficient and cost-effective heating solutions. The key driver of the immersion heater market is the increasing focus on energy efficiency.
Governments around the world have been implementing initiatives and regulations to promote the use of energy-efficient heating solutions, which has led to a surge in demand for immersion heaters. The rising cost of energy has also made immersion heaters more attractive as they are often less expensive to operate than other heating options.
Development of new technologies is also driving the growth of the immersion heater market. Smart immersion heaters, for example, allow users to control the temperature and energy consumption remotely, using a smartphone or other device.
This has made immersion heaters more convenient and user-friendly, which has boosted their popularity. A prominent opportunity for the immersion heater market is the increasing adoption of advanced technologies such as low NOx burners and advanced materials for immersion heaters, which are expected to drive the market's growth by improving the efficiency and durability of the heaters.
The immersion heater market in Europe and North America is experiencing a robust growth, thanks to the adoption of advanced heating systems and the growing focus on energy efficiency. The market is expected to continue its upward trajectory, with new and innovative technologies entering the market. It's an exciting time for the industry, and it will be intriguing to see how the market develops in the coming years.
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The increasing demand for energy-efficient heating systems in chemical and plastic industry is driving the market's growth. The use of immersion heaters in the chemical and plastic industry for various applications such as the heating of chemical reactions, the heating of molds, the heating of plastic resins, the heating of chemical storage tanks, the heating of viscous liquids, and the heating of reactor vessels has increased significantly over the years.
The chemical and plastic industry is also witnessing an increase in the adoption of advanced technologies, such as low-NOx burners and advanced materials for immersion heaters, which is expected to drive segment’s growth further.
Leading players in the immersion heater market are investing in the development of advanced materials, such as ceramic and titanium, for immersion heaters to improve their durability and efficiency. They are also offering smart and programmable controls for immersion heaters, which allow for remote monitoring and control of the heaters through smartphones and other devices.
Recent Developments:
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Immersion heaters are used to heat various liquid substances such as water, oil, chemicals, and at times to stabilize gas that are stored in reservoirs. Immersion heaters are designed to withstand any virtual condition and can be used either in a pure water tank or under any acidic medium.
Immersion heaters are used inside in various liquid storage tanks in several industries and in the pressurization of storage containers. Immersion heaters are specifically used for pressure vessel, tank or a pipe body installation purpose.
Immersion heaters are connected through a cable to their own power supply. An immersion heater is an electric water heater in a hot water tank. The working resembles that of an electric kettle using an electrical resistance heater to heat the water around it.
The working benefits of an immersion heater over conventional heaters is estimated to drive the market forward during the stipulated period. The main benefit of having an immersion heater is as a backup supply of hot water.
Rapid development of environmentally friendly building projects & smart city construction would fuel the growth of the immersion heater market. The market situation is projected to gain traction by ongoing policy initiatives to install energy-efficient heating equipment to reduce carbon emissions and power consumption.
The Department of Energy has urged manufacturers to implement innovative heat building technologies that are rated on standby loss and thermal efficiency.
The government has defined stringent regulations related to the output rates of electrical products. In addition, the increasing demand for hot water in domestic applications coupled with the demand for energy-efficient heating systems in commercial applications are set to increase the demand of the Immersion Heater market.
A challenging factor that could pose threat to the rising immersion heater market is the pertaining high cost of these equipment as compared to the conventional heating systems. Also, it is very important to understand as to which type of immersion heater is suitable for residential or commercial use. Choosing the wrong product might result in several mishaps.
Extreme climatic conditions coupled with increasing consumer inclination towards heating systems with reduced power consumption will open up opportunistic avenues for the rising adoption of immersion heater. The market is expected to grow due to increased demand for quick hot water supply.
Increasing use of immersion heaters primarily in residential premises due to improved living standards would expand the market demand. Changing consumer preference for sustainable structures and enhancing quality standards will have a positive impact on the market outlook.
A trending factor in the immersion heater market is that the heating element inside can be removed, ensuring a quick replacement without any equipment being used. Several manufacturers are providing options to customize the immersion heater according to need basis.
Some of the prominent features such as fuel efficiency and minimal maintenance will promote the immersion heater adoption. Rising deployment of immersion heaters across residential & small scale commercial establishments relying on its precision temperature control & improved environmental sustainability will favor the business scenario over the forecast period.
North America and Europe are estimated to hold a dominant share in the global immersion heater market during the forecast period owing to regulatory policies that decrease the nature of low-efficiency and environmentally polluting appliances.
Strict environmental measures related to carbon emissions and strong emphasis on fuel-efficient technology would drive the growth of the UK market in this region. Europe is followed by Asia Pacific in terms of market share of the global immersion heater market due to the rapid adoption of these heaters by residential users.
This may be attributed to surging demand for immersion heaters from manufacturing industries in Asian countries such as India, China, South Korea and Japan. Latin America is projected to witness growth in the immersion heater market adhering to growing focus towards ongoing replacement of conventional heating systems will complement the business outlook.
Energy-efficient systems combined with introduction of environmental-related policies would fuel growth in the developing economies such as India, Brazil, Indonesia, Turkey and Thailand.
Some of the market participants of the global Immersion Heater market are as follows:
“The research report on Immersion Heater market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Immersion Heater market report also contains projections using a suitable set of assumptions and methodologies. The research report on Immersion Heater market provides analysis and information according to market segments such as product type, application and distribution channel.
The Immersion Heater market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The Immersion Heater market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Immersion Heater market report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Application 6.3. Distribution Channel 7. Global Market Analysis and Forecast, By Product Type 7.1. Over the side Immersion Heater 7.2. Flanged Immersion Heater 7.3. Threaded/Screw Immersion Plug Heater 7.4. Oil Immersion Heaters 7.5. Screw Plug Immersion Heaters 8. Global Market Analysis and Forecast, By Application 8.1. Chemical and Plastics Industry 8.2. Pharmaceutical Industry 8.3. Automotive Industry 8.4. Marine 8.5. Oil and Gas 8.6. Others 9. Global Market Analysis and Forecast, By Distribution Channel 9.1. Offline 9.2. Online 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia 10.6. Oceania 10.7. Middle East & Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Product Type, Application, and Distribution Channel for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. NIBE 20.2. CIRCOR International, Inc. 20.3. Chromalox INC 20.4. Headway Electric Heat Components CO. Ltd 20.5. Hotset GmbH 20.6. Phillips & Temro Industries 20.7. Warren Electric Industrial Electric Heaters 20.8. Thermal Transfer Systems Inc. 20.9. Holroyd Components Ltd 20.10. Thermal Corporation 20.11. Winkler GmbH 20.12. Industrial Heater Corporation 20.13. Delta MFG 20.14. Friedr. Freek GmbH 20.15. Tutco Heating Solutions Group 20.16. OMEGA Engg. 20.17. Zoppas Industries 20.18. Tempco Electric Heating Element Corporation 20.19. CCI Thermal Technologies
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Immersion Heater Market
