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Industrial Heating Equipment Market Trends

Report ID: GMI10361
Published Date: Jul 2024
Report Format: PDF

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Industrial Heating Equipment Market Trends

Ongoing technological advancements in energy efficiency and the integration of IoT for smart control systems will propel the industry growth. Additionally, stringent environmental regulations and a shift towards sustainable energy sources are influencing manufacturers to innovate and adopt cleaner heating technologies, accelerating the product deployment. Increasing investment across the manufacturing sector along with surging modernization of small & medium scale industries will positively sway the business potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of industrial heating equipment was worth USD 21.7 billion in 2023 and will expand at 6.8% CAGR between 2024 and 2032, driven by growing emphasis on energy efficiency and cost savings along with increasing industrial activities across manufacturing, oil & gas, and chemicals.

The food processing segment in the industrial heating equipment industry will achieve 7% CAGR through 2032, due to rising demand for equipment that enhances efficiency and conserves energy, along with the growing emphasis on equipment capable of utilizing alternative energy sources.

Asia Pacific industrial heating equipment industry will exceed USD 12 billion by 2032, owing to expanding manufacturing sectors, increasing investments in infrastructure, and rising adoption of automation in industrial processes.

Atlas Copco AB, Babcock and Wilcox Enterprises, Inc., Clayton Industries, Daikin Industries Ltd., Emerson Electric Co., Mitsubishi Electric India Pvt. Ltd., Robert Bosch GmbH, Siemens Energy, Swegon Ltd., Thermax Limited, The Fulton Companies, and Trane Technologies among others.