The fired heaters market is expected to grow from its current value of US$ 1 billion in 2023 to US$ 1.8 billion by the end of 2033. From 2023 to 2033, the market for fired heaters is expected to increase globally at a CAGR of 6%.
In essence, direct-fired heaters warm the air by igniting fuel, such petrol or oil. The modular design of direct-fired heaters allows for the use of virtually any furnace burner type in single or multiple burner configurations. Furnaces called fired heaters use the thermal energy that is released when fuel is burned to heat liquids and gases. To heat gases or liquids to the proper temperature, industrial facilities typically use fired heaters, also referred to as furnaces.
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Key pioneers
- AbsolutAire, Inc.
- Sigma Thermal
- Hetsco Inc.
- Thermax
- Exotherm Corporation
- TechEngineering Srl
- Optimized Process Furnaces, Inc.
- The G.C. Broach Company
- Boustead International Heaters Ltd.
Essential Takeaways from the Fired Heaters Market Insights Report
- Comparison of prominent players operating in the Fired Heaters Market Insights.
- Recent developments and key strategies adopted by market players.
- Study of the micro and macro-economic growth indicators.
- Impact of the various factors on the value chain of the Fired Heaters Market Insights.
- Growth opportunities for emerging market players in various regional markets.
- Current trends influencing the scenario of the Fired Heaters Market Insights.
Key Strategies Implemented by Market Players
The global fired heaters market is characterised by a combination of low-end product fragmentation and high-end solution consolidation. Leading businesses are emphasising quality assurance, the creation of solutions tailored to the sector, product standards, and expansion into burgeoning regional markets. Leading fired heater manufacturers are spending money on new product development.
In order to reduce costs while focusing on sustainability and adhering to safety rules, they are also concentrating on the discovery of new materials and advances in processes. Another major area of interest for market players is the development of fired heaters tailored to certain processes. The application range of fired heaters has expanded as a result of a rise in contracts between manufacturers and end users for the delivery of specialised, individualised solutions.
For instance,
- In 2019, Sigma Thermal partnered with Flarectec to strengthen its ability to offer top-notch heating solutions for industrial applications.
Industry Research
• By Product Type :
o Direct-fired Heaters
Reformers
Hydrocrackers
Gas Oil Hydrocrackers
Crude Distillation
Others
o Indirect-fired Heaters
• By Configuration :
o Vertical Cylindrical
o Horizontal Cylindrical
o Cabin Type
• By Heating Capacity :
o Up to 10 MMBtu/hr
o 11 to 50 MMBtu/hr
o Above 50 MMBtu/hr
• By End-use Sector :
o Chemicals
o Petrochemicals
o Power
o Oil & Gas
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa
Important queries related to the Fired Heaters Market Insights addressed in the report:
- Who are the most prominent players in the Fired Heaters Market Insights?
- What are the factors that are likely to hinder the growth of the Fired Heaters Market Insights during the forecast period (2021-2031)?
- Why is the concentration of tier-1 companies high in specific region?
- How are the soaring prices of raw materials impacting the demand for keyword?
- Why are market players eyeing opportunities in particular region?
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