Thermal Oil Heaters Market
Thermal Oil Heaters Market Size, Share & Trends Analysis Report by Types (Tubular Heating, and Local Rapid Heating), and by Applications (Oil, Chemical, Plastic, Food Processing, Paper Mills, Industrial Laundries, Glass Industry, and Others) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Thermal oil heaters market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The growth of the market is attributed to factors such as increasing demand in various industries and the advantages offered by thermal oil heaters. Further, advancements in technology and growing energy requirements are some of the factors anticipated to fuel the demand for thermal oil heaters. For instance, in the chemical industry, thermal oil heaters are widely used for efficient and controlled heating processes. Therefore various companies provide highly efficient thermal heater for the chemical industry. For instance, Pirobloc offers thermal heaters for chemical sectors for heating reactors. Maintenance and operation of thermal fluid boilers are relatively straightforward compared to other systems. Simple maintenance procedures can prevent issues such as corrosion and scaling, ensuring smooth operation. Another advantage of Pirobloc thermal oil heaters is that they can operate at high temperatures while maintaining low pressures.
Segmental Outlook
The global thermal oil heaters market is segmented based on its types and applications. Based on types, the market is segmented into tubular heating and local rapid heating. Based on applications, the market is categorized into oil, chemical, plastic, food processing, paper mills, industrial laundries, glass industry, and others. Among these, tubular heating is expected to hold a prominent market share due to its versatility and widespread use across different industries.
The Oil and Chemical Industry Sub- Segment are Anticipated to Hold a Significant Share in the Global Thermal Oil Heaters Market
The oil and chemical industry sub- segment are anticipated to hold a significant share in the global thermal oil heaters market. This growth is attributed to the expansion of oil and chemical based plants across the growth. For instance, in February 2023, Luberef, a subsidiary of Saudi Aramco, expanded its base oil plant in Yanbu' al Bahr, Saudi Arabia, which will increase capacity by 230,000 metric tons per year. The project will also upgrade the facility, enabling it to make API Group III base stocks.
Regional Outlooks
The global thermal oil heaters market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the European market is anticipated to cater to a prominent growth over the forecast period due to stringent environmental regulations and increasing focus on energy-efficient solutions. However, the Asia-Pacific region is projected to experience considerable growth in the thermal oil heaters market due to rapid industrialization and expanding manufacturing sectors. For instance, in April 2022, BASF and SINOPEC are expanded their chemical plants in Nanjing, China. The expansion includes new capacities for several downstream chemical plants and a new tert-butyl acrylate plant to serve the growing demand from various industries in the Chinese market. The expanded and new plants are expected to start up by the end of 2023.
Global Thermal Oil Heaters Market Growth, by Region 2023-2030
The North American Region is Anticipated to Hold a Significant Share in the Global Thermal Oil Heaters Market
The North American region is anticipated to account for a significant share in the thermal oil heaters market during the forecast period. The growth of the market in the region is primarily driven by factors such as the presence of a well-established industrial sector, increasing adoption of thermal oil heaters for various applications, and expansion of the manufacturer plants of various industries. For instance, in January 2021, Sigma Thermal manufactured four highly engineered hot oil heating systems for a liquefied natural gas (LNG) plant Project expansion for the Southeastern, US. The project was completed on a tight timeline and included multiple site-specific customizations.
Market Players Outlook
The major companies serving the global thermal oil heaters market include Alfa Laval, Bosch Thermotechnik GmbH, Sigma Thermal Inc., Astec Industries, Inc., Thermax Ltd., and others. These market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market and cater to the evolving needs of customers. For instance, in April 2021, Astec Industries, Inc. launched Heatec HC & HCS heaters are direct fired heaters designed around a helical coil that meets ASME code. These heaters were originally designed for asphalt plants for mixing road grade asphalt, but their versatility allows them to be used in a variety of facilities for different applications. The popularity of these heaters comes from their simplicity, efficiency, low maintenance, and relatively low cost. The heat transfer mediums used can be thermal fluid (hot oil), glycol mixtures, or gases. They are also used as process heaters, directly heating the process fluid or gas. The HC & HCS heaters are available in different sizes and can be customized to meet specific needs.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global thermal oil heaters market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Alfa Laval
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Astec Industries, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Bosch Thermotechnik GmbH
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Sigma Thermal Inc.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Thermax Ltd.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Thermal Oil Heaters Market byTypes
4.1.1. Tubular Heating
4.1.2. Local Rapid Heating
4.2. Global Thermal Oil Heaters Market by Application
4.2.1. Oil
4.2.2. Chemical
4.2.3. Food Processing
4.2.4. Paper Mills
4.2.5. Industrial Laundries
4.2.6. Glass Industry
4.2.7. Others (Plastic and Cement)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. CNIM Group
6.2. Corbett Industries
6.3. Cream City Boiler Co.
6.4. Dow Chemicals
6.5. ECO Prozesstechnik GmbH
6.6. Exotherm Corporation
6.7. Gaumer Process
6.8. Gencor Industries, Inc.
6.9. Heat Exchange & Transfer, Inc.
6.10. Hovalwerk AG
6.11. Hurst Boiler & Welding Co., Inc.
6.12. Intec Energy Systems Ltd.
6.13. Kroll Energy GmbH
6.14. Meeker Equipment Co. Inc.
6.15. National U. S. Radiator Corp.
6.16. P. Crane Co. Industrial Products Group
6.17. Paratherm
6.18. Parker Boiler Co.
6.19. Performance Heating LLC
6.20. Process Equipment Division
6.21. ProTec Ingredia Ltd.
6.22. Qingdao East Power Industry Equipment Co., Ltd.
6.23. Schmid AG
6.24. Struthers Wells
6.25. Viessmann Group
1. GLOBAL THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY TYPES, 2022-2030 ($ MILLION)
2. GLOBAL TUBE HEATING BY THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL LOCAL RAPID HEATING BY THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
5. GLOBAL THERMAL OIL HEATERS FOR OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL THERMAL OIL HEATERS FOR CHEMICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL THERMAL OIL HEATERS FOR PLASTIC MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL THERMAL OIL HEATERS FOR FOOD PROCESSING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL THERMAL OIL HEATERS FOR PAPER MILLS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL THERMAL OIL HEATERS FOR INDUSTRIAL LAUNDRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL THERMAL OIL HEATERS FOR GLASS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL THERMAL OIL HEATERS FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. NORTH AMERICAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
15. NORTH AMERICAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
16. NORTH AMERICAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
17. EUROPEAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. EUROPEAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
19. EUROPEAN THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
20. ASIA-PACIFIC THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
21. ASIA-PACIFIC THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
23. REST OF THE WORLD THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
24. REST OF THE WORLD THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
25. REST OF THE WORLD THERMAL OIL HEATERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL THERMAL OIL HEATERS MARKET SHARE BY TYPES, 2022 VS 2030 (%)
2. GLOBAL TUBULAR HEATING BY THERMAL OIL HEATERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL LOCAL RAPID HEATING BY THERMAL OIL HEATERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL THERMAL OIL HEATERS MARKET SHARE BY APPLICATION, 2022 VS 2030 (%)
5. GLOBAL THERMAL OIL HEATERS FOR OIL MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL THERMAL OIL HEATERS FOR CHEMICAL MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL THERMAL OIL HEATERS FOR PLASTIC MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL THERMAL OIL HEATERS FOR FOOD PROCESSING MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL THERMAL OIL HEATERS FOR PAPER MILLS MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL THERMAL OIL HEATERS FOR INDUSTRIAL LAUNDRIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL THERMAL OIL HEATERS FOR GLASS INDUSTRY MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL THERMAL OIL HEATERS FOR OTHERS (CEMENT) MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL THERMAL OIL HEATERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. US THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
15. CANADA THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
16. UK THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
17. FRANCE THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
18. GERMANY THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
19. ITALY THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
20. SPAIN THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
21. REST OF EUROPE THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
22. INDIA THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
23. CHINA THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
24. JAPAN THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
25. SOUTH KOREA THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF ASIA-PACIFIC THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF THE WORLD THERMAL OIL HEATERS MARKET SIZE, 2022-2030 ($ MILLION)
