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Process Heating Equipment Market By Equipment Type: Global Opportunity Analysis and Industry Forecast, 2024-2032

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    Report

  • 245 Pages
  • July 2024
  • Region: Global
  • Allied Market Research
  • ID: 5994203
Description Jump to:
The global process heating equipment market was valued at $84.3 billion in 2023, and is projected to reach $107.1 billion by 2032, growing at a CAGR of 2.7% from 2024 to 2032.

Process heating equipment refers to machinery and systems used to generate and apply heat in industrial and manufacturing processes. This equipment is essential for operations such as drying, curing, melting, and chemical processing. Common types include boilers, furnaces, kilns, heat exchangers, and ovens. These devices use various energy sources such as electricity, natural gas, oil, or steam to achieve the desired temperature and heat transfer. The efficiency, control, and safety of process heating equipment are crucial for optimizing production, reducing energy consumption, and ensuring consistent product quality in diverse industries such as metalworking, food processing, and chemical manufacturing.

The global process heating equipment market is experiencing robust growth due to several key factors. A primary driver is rise in demand for energy-efficient heating solutions within industrial processes. Industries are increasingly aiming to cut energy use and lessen their environmental footprint, leading to the adoption of advanced process heating technologies that enhance energy efficiency and lower emissions. Moreover, manufacturers are focusing on developing equipment that meets the heating requirements of various industrial applications and minimizes energy consumption. This shift is driven by rise in the cost of energy and stringent environmental regulations aimed at reducing carbon emissions. Technologies such as advanced heat recovery systems, high-efficiency burners, and improved insulation materials are becoming standard features.

However, adherence to these standards impedes the accessibility and affordability of specific equipment for most consumers, thus limiting the market's overall growth. Contrarily, integration of the Internet of Things (IoT) and Industry 4.0 principles offers lucrative opportunities in the process heating equipment market. IoT-enabled heating systems provide real-time monitoring, predictive maintenance, and advanced analytics, leading to improved operational efficiency and reduced downtime. These smart systems collect and analyze data on temperature, energy consumption, and equipment performance, allowing operators to make informed decisions and quickly address any issues. For instance, Siemens AG is recognized for its advancements in digitalization and automation technologies, key components of Industry 4.0 initiatives. Their products leverage IoT to enhance industrial processes, increase efficiency, and support predictive maintenance, all crucial in the sector of process heating equipment markets.

Segmentation Overview

The process heating equipment market is segmented into equipment type, temperature range, end-user industry, and region. Depending on equipment type, the market is divided into heat pump, furnaces, and boilers. As per temperature range, it is segregated into 50 to 200 degree Celsius, 201 to 500 degree Celsius, 501 to 1, 500 degree Celsius, and Above 1, 500 degree Celsius. According to end-user industry, the market is classified into chemicals, food and beverage, pharmaceuticals, plastic and rubber, metal, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By equipment type, the heat pump segment is anticipated to experience faster growth during the forecast period.

Depending on temperature range, the 501 to 1, 500-degree Celsius segment is expected to garner the highest market share throughout the projection period.

According to end-user industry, the metal segment is projected to dominate the process heating equipment market during the forecast period.

Region wise, Asia-Pacific to maintain its dominance by 2032.

Competitive Scenario

The major players operating in the process heating equipment market include Babcock Wanson International, Siemens AG, Armstrong International Inc., Mitsubishi Electric Corporation, Thermax Limited, Johnson Controls International PLC, Danfoss, Hurst Boiler & Welding Company, Inc., Carrier, and Chromalox. These players have adopted several strategies, including mergers & acquisitions, partnerships, collaborations, and product development & diversification, to maintain their position in the dynamic market.

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Key Market Segments

By Equipment Type

  • Heat pump
  • Furnaces
  • Boilers

By Temperature Range

  • 50 to 200 Degree Celsius
  • 201 to 500 Degree Celsius
  • 501 to 1,500 Degree Celsius
  • Above 1,500 Degree Celsius

By End-User Industry

  • Chemical
  • Food and beverage
  • Pharmaceutical
  • Plastic and rubber
  • Metal
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
Key Market Players
  • Babcock Wanson International
  • Siemens AG
  • Armstrong International Inc.
  • Mitsubishi Electric Corporation
  • Thermax Limited
  • Johnson Controls International PLC
  • Danfoss
  • Hurst Boiler & Welding Company, Inc.
  • Carrier
  • Chromalox, Inc.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: PROCESS HEATING EQUIPMENT MARKET, BY EQUIPMENT TYPE
4.1. Market Overview
4.1.1 Market Size and Forecast, By Equipment Type
4.2. Heat Pump
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.3. Furnaces
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
4.4. Boilers
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, By Region
4.4.3. Market Share Analysis, By Country
CHAPTER 5: PROCESS HEATING EQUIPMENT MARKET, BY TEMPERATURE RANGE
5.1. Market Overview
5.1.1 Market Size and Forecast, By Temperature Range
5.2. 50 To 200 Degree Celsius
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. 201 To 500 Degree Celsius
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. 501 To 1, 500 Degree Celsius
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
5.5. Above 1, 500 Degree Celsius
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, By Region
5.5.3. Market Share Analysis, By Country
CHAPTER 6: PROCESS HEATING EQUIPMENT MARKET, BY END-USER INDUSTRY
6.1. Market Overview
6.1.1 Market Size and Forecast, By End-user Industry
6.2. Chemical
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, By Region
6.2.3. Market Share Analysis, By Country
6.3. Food And Beverage
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, By Region
6.3.3. Market Share Analysis, By Country
6.4. Pharmaceutical
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast, By Region
6.4.3. Market Share Analysis, By Country
6.5. Plastic And Rubber
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast, By Region
6.5.3. Market Share Analysis, By Country
6.6. Metal
6.6.1. Key Market Trends, Growth Factors and Opportunities
6.6.2. Market Size and Forecast, By Region
6.6.3. Market Share Analysis, By Country
6.7. Others
6.7.1. Key Market Trends, Growth Factors and Opportunities
6.7.2. Market Size and Forecast, By Region
6.7.3. Market Share Analysis, By Country
CHAPTER 7: PROCESS HEATING EQUIPMENT MARKET, BY REGION
7.1. Market Overview
7.1.1 Market Size and Forecast, By Region
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. Market Size and Forecast, By Equipment Type
7.2.3. Market Size and Forecast, By Temperature Range
7.2.4. Market Size and Forecast, By End-user Industry
7.2.5. Market Size and Forecast, By Country
7.2.6. U.S. Process Heating Equipment Market
7.2.6.1. Market Size and Forecast, By Equipment Type
7.2.6.2. Market Size and Forecast, By Temperature Range
7.2.6.3. Market Size and Forecast, By End-user Industry
7.2.7. Canada Process Heating Equipment Market
7.2.7.1. Market Size and Forecast, By Equipment Type
7.2.7.2. Market Size and Forecast, By Temperature Range
7.2.7.3. Market Size and Forecast, By End-user Industry
7.2.8. Mexico Process Heating Equipment Market
7.2.8.1. Market Size and Forecast, By Equipment Type
7.2.8.2. Market Size and Forecast, By Temperature Range
7.2.8.3. Market Size and Forecast, By End-user Industry
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Market Size and Forecast, By Equipment Type
7.3.3. Market Size and Forecast, By Temperature Range
7.3.4. Market Size and Forecast, By End-user Industry
7.3.5. Market Size and Forecast, By Country
7.3.6. France Process Heating Equipment Market
7.3.6.1. Market Size and Forecast, By Equipment Type
7.3.6.2. Market Size and Forecast, By Temperature Range
7.3.6.3. Market Size and Forecast, By End-user Industry
7.3.7. Germany Process Heating Equipment Market
7.3.7.1. Market Size and Forecast, By Equipment Type
7.3.7.2. Market Size and Forecast, By Temperature Range
7.3.7.3. Market Size and Forecast, By End-user Industry
7.3.8. Italy Process Heating Equipment Market
7.3.8.1. Market Size and Forecast, By Equipment Type
7.3.8.2. Market Size and Forecast, By Temperature Range
7.3.8.3. Market Size and Forecast, By End-user Industry
7.3.9. UK Process Heating Equipment Market
7.3.9.1. Market Size and Forecast, By Equipment Type
7.3.9.2. Market Size and Forecast, By Temperature Range
7.3.9.3. Market Size and Forecast, By End-user Industry
7.3.10. Rest of Europe Process Heating Equipment Market
7.3.10.1. Market Size and Forecast, By Equipment Type
7.3.10.2. Market Size and Forecast, By Temperature Range
7.3.10.3. Market Size and Forecast, By End-user Industry
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Market Size and Forecast, By Equipment Type
7.4.3. Market Size and Forecast, By Temperature Range
7.4.4. Market Size and Forecast, By End-user Industry
7.4.5. Market Size and Forecast, By Country
7.4.6. China Process Heating Equipment Market
7.4.6.1. Market Size and Forecast, By Equipment Type
7.4.6.2. Market Size and Forecast, By Temperature Range
7.4.6.3. Market Size and Forecast, By End-user Industry
7.4.7. Japan Process Heating Equipment Market
7.4.7.1. Market Size and Forecast, By Equipment Type
7.4.7.2. Market Size and Forecast, By Temperature Range
7.4.7.3. Market Size and Forecast, By End-user Industry
7.4.8. India Process Heating Equipment Market
7.4.8.1. Market Size and Forecast, By Equipment Type
7.4.8.2. Market Size and Forecast, By Temperature Range
7.4.8.3. Market Size and Forecast, By End-user Industry
7.4.9. South Korea Process Heating Equipment Market
7.4.9.1. Market Size and Forecast, By Equipment Type
7.4.9.2. Market Size and Forecast, By Temperature Range
7.4.9.3. Market Size and Forecast, By End-user Industry
7.4.10. Rest of Asia-Pacific Process Heating Equipment Market
7.4.10.1. Market Size and Forecast, By Equipment Type
7.4.10.2. Market Size and Forecast, By Temperature Range
7.4.10.3. Market Size and Forecast, By End-user Industry
7.5. LAMEA
7.5.1. Key Market Trends and Opportunities
7.5.2. Market Size and Forecast, By Equipment Type
7.5.3. Market Size and Forecast, By Temperature Range
7.5.4. Market Size and Forecast, By End-user Industry
7.5.5. Market Size and Forecast, By Country
7.5.6. Latin America Process Heating Equipment Market
7.5.6.1. Market Size and Forecast, By Equipment Type
7.5.6.2. Market Size and Forecast, By Temperature Range
7.5.6.3. Market Size and Forecast, By End-user Industry
7.5.7. Middle East Process Heating Equipment Market
7.5.7.1. Market Size and Forecast, By Equipment Type
7.5.7.2. Market Size and Forecast, By Temperature Range
7.5.7.3. Market Size and Forecast, By End-user Industry
7.5.8. Africa Process Heating Equipment Market
7.5.8.1. Market Size and Forecast, By Equipment Type
7.5.8.2. Market Size and Forecast, By Temperature Range
7.5.8.3. Market Size and Forecast, By End-user Industry
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023
CHAPTER 9: COMPANY PROFILES
9.1. Babcock Wanson International
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.1.6. Business Performance
9.1.7. Key Strategic Moves and Developments
9.2. Siemens AG
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Business Performance
9.2.7. Key Strategic Moves and Developments
9.3. Armstrong International Inc.
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. Business Performance
9.3.7. Key Strategic Moves and Developments
9.4. Mitsubishi Electric Corporation
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.4.6. Business Performance
9.4.7. Key Strategic Moves and Developments
9.5. Thermax Limited
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. Business Performance
9.5.7. Key Strategic Moves and Developments
9.6. Johnson Controls International PLC
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. Business Performance
9.6.7. Key Strategic Moves and Developments
9.7. Danfoss
9.7.1. Company Overview
9.7.2. Key Executives
9.7.3. Company Snapshot
9.7.4. Operating Business Segments
9.7.5. Product Portfolio
9.7.6. Business Performance
9.7.7. Key Strategic Moves and Developments
9.8. Hurst Boiler And Welding Company, Inc.
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. Business Performance
9.8.7. Key Strategic Moves and Developments
9.9. Carrier
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.9.6. Business Performance
9.9.7. Key Strategic Moves and Developments
9.10. Chromalox, Inc.
9.10.1. Company Overview
9.10.2. Key Executives
9.10.3. Company Snapshot
9.10.4. Operating Business Segments
9.10.5. Product Portfolio
9.10.6. Business Performance
9.10.7. Key Strategic Moves and Developments
LIST OF TABLES
Table 1. Global Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 2. Process Heating Equipment Market for Heat Pump, by Region, 2024 - 2032 ($Billion)
Table 3. Process Heating Equipment Market for Furnaces, by Region, 2024 - 2032 ($Billion)
Table 4. Process Heating Equipment Market for Boilers, by Region, 2024 - 2032 ($Billion)
Table 5. Global Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 6. Process Heating Equipment Market for 50 to 200 Degree Celsius, by Region, 2024 - 2032 ($Billion)
Table 7. Process Heating Equipment Market for 201 to 500 Degree Celsius, by Region, 2024 - 2032 ($Billion)
Table 8. Process Heating Equipment Market for 501 to 1, 500 Degree Celsius, by Region, 2024 - 2032 ($Billion)
Table 9. Process Heating Equipment Market for Above 1, 500 Degree Celsius, by Region, 2024 - 2032 ($Billion)
Table 10. Global Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 11. Process Heating Equipment Market for Chemical, by Region, 2024 - 2032 ($Billion)
Table 12. Process Heating Equipment Market for Food and Beverage, by Region, 2024 - 2032 ($Billion)
Table 13. Process Heating Equipment Market for Pharmaceutical, by Region, 2024 - 2032 ($Billion)
Table 14. Process Heating Equipment Market for Plastic and Rubber, by Region, 2024 - 2032 ($Billion)
Table 15. Process Heating Equipment Market for Metal, by Region, 2024 - 2032 ($Billion)
Table 16. Process Heating Equipment Market for Others, by Region, 2024 - 2032 ($Billion)
Table 17. Process Heating Equipment Market, by Region, 2024 - 2032 ($Billion)
Table 18. North America Process Heating Equipment Market, by Country, 2024 - 2032 ($Billion)
Table 19. North America Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 20. North America Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 21. North America Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 22. U.S. Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 23. U.S. Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 24. U.S. Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 25. Canada Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 26. Canada Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 27. Canada Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 28. Mexico Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 29. Mexico Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 30. Mexico Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 31. Europe Process Heating Equipment Market, by Country, 2024 - 2032 ($Billion)
Table 32. Europe Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 33. Europe Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 34. Europe Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 35. France Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 36. France Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 37. France Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 38. Germany Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 39. Germany Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 40. Germany Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 41. Italy Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 42. Italy Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 43. Italy Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 44. UK Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 45. UK Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 46. UK Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 47. Rest of Europe Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 48. Rest of Europe Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 49. Rest of Europe Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 50. Asia-Pacific Process Heating Equipment Market, by Country, 2024 - 2032 ($Billion)
Table 51. Asia-Pacific Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 52. Asia-Pacific Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 53. Asia-Pacific Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 54. China Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 55. China Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 56. China Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 57. Japan Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 58. Japan Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 59. Japan Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 60. India Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 61. India Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 62. India Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 63. South Korea Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 64. South Korea Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 65. South Korea Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 66. Rest of Asia-Pacific Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 67. Rest of Asia-Pacific Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 68. Rest of Asia-Pacific Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 69. LAMEA Process Heating Equipment Market, by Country, 2024 - 2032 ($Billion)
Table 70. LAMEA Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 71. LAMEA Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 72. LAMEA Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 73. Latin America Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 74. Latin America Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 75. Latin America Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 76. Middle East Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 77. Middle East Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 78. Middle East Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 79. Africa Process Heating Equipment Market, by Equipment Type, 2024 - 2032 ($Billion)
Table 80. Africa Process Heating Equipment Market, by Temperature Range, 2024 - 2032 ($Billion)
Table 81. Africa Process Heating Equipment Market, by End-user Industry, 2024 - 2032 ($Billion)
Table 82. Babcock Wanson International: Key Executives
Table 83. Babcock Wanson International: Company Snapshot
Table 84. Babcock Wanson International: Operating Segments
Table 85. Babcock Wanson International: Product Portfolio
Table 86. Babcock Wanson International: Key Strategic Moves and Developments
Table 87. Siemens AG: Key Executives
Table 88. Siemens AG: Company Snapshot
Table 89. Siemens AG: Operating Segments
Table 90. Siemens AG: Product Portfolio
Table 91. Siemens AG: Key Strategic Moves and Developments
Table 92. Armstrong International Inc.: Key Executives
Table 93. Armstrong International Inc.: Company Snapshot
Table 94. Armstrong International Inc.: Operating Segments
Table 95. Armstrong International Inc.: Product Portfolio
Table 96. Armstrong International Inc.: Key Strategic Moves and Developments
Table 97. Mitsubishi Electric Corporation: Key Executives
Table 98. Mitsubishi Electric Corporation: Company Snapshot
Table 99. Mitsubishi Electric Corporation: Operating Segments
Table 100. Mitsubishi Electric Corporation: Product Portfolio
Table 101. Mitsubishi Electric Corporation: Key Strategic Moves and Developments
Table 102. Thermax Limited: Key Executives
Table 103. Thermax Limited: Company Snapshot
Table 104. Thermax Limited: Operating Segments
Table 105. Thermax Limited: Product Portfolio
Table 106. Thermax Limited: Key Strategic Moves and Developments
Table 107. Johnson Controls International PLC: Key Executives
Table 108. Johnson Controls International PLC: Company Snapshot
Table 109. Johnson Controls International PLC: Operating Segments
Table 110. Johnson Controls International PLC: Product Portfolio
Table 111. Johnson Controls International PLC: Key Strategic Moves and Developments
Table 112. Danfoss: Key Executives
Table 113. Danfoss: Company Snapshot
Table 114. Danfoss: Operating Segments
Table 115. Danfoss: Product Portfolio
Table 116. Danfoss: Key Strategic Moves and Developments
Table 117. Hurst Boiler and Welding Company, Inc.: Key Executives
Table 118. Hurst Boiler and Welding Company, Inc.: Company Snapshot
Table 119. Hurst Boiler and Welding Company, Inc.: Operating Segments
Table 120. Hurst Boiler and Welding Company, Inc.: Product Portfolio
Table 121. Hurst Boiler and Welding Company, Inc.: Key Strategic Moves and Developments
Table 122. Carrier: Key Executives
Table 123. Carrier: Company Snapshot
Table 124. Carrier: Operating Segments
Table 125. Carrier: Product Portfolio
Table 126. Carrier: Key Strategic Moves and Developments
Table 127. Chromalox, Inc.: Key Executives
Table 128. Chromalox, Inc.: Company Snapshot
Table 129. Chromalox, Inc.: Operating Segments
Table 130. Chromalox, Inc.: Product Portfolio
Table 131. Chromalox, Inc.: Key Strategic Moves and Developments
LIST OF FIGURES
Figure 1. Global Process Heating Equipment Market, 2024 - 2032
Figure 2. Segmentation of Process Heating Equipment Market, 2024 - 2032
Figure 3. Top Investment Pocket in Process Heating Equipment Market
Figure 4. Moderate Bargaining Power of Buyers
Figure 5. Moderate Bargaining Power of Suppliers
Figure 6. Moderate Threat of New Entrants
Figure 7. Low Threat of Substitution
Figure 8. High Competitive Rivalry
Figure 9. Opportunities, Restraints and Drivers: Globalprocess Heating Equipment Market
Figure 10. Global Process Heating Equipment Market Segmentation, by Equipment Type
Figure 11. Process Heating Equipment Market for Heat Pump, by Country, 2024 - 2032 ($Billion)
Figure 12. Process Heating Equipment Market for Furnaces, by Country, 2024 - 2032 ($Billion)
Figure 13. Process Heating Equipment Market for Boilers, by Country, 2024 - 2032 ($Billion)
Figure 14. Global Process Heating Equipment Market Segmentation, by Temperature Range
Figure 15. Process Heating Equipment Market for 50 to 200 Degree Celsius, by Country, 2024 - 2032 ($Billion)
Figure 16. Process Heating Equipment Market for 201 to 500 Degree Celsius, by Country, 2024 - 2032 ($Billion)
Figure 17. Process Heating Equipment Market for 501 to 1, 500 Degree Celsius, by Country, 2024 - 2032 ($Billion)
Figure 18. Process Heating Equipment Market for Above 1, 500 Degree Celsius, by Country, 2024 - 2032 ($Billion)
Figure 19. Global Process Heating Equipment Market Segmentation, by End-user Industry
Figure 20. Process Heating Equipment Market for Chemical, by Country, 2024 - 2032 ($Billion)
Figure 21. Process Heating Equipment Market for Food and Beverage, by Country, 2024 - 2032 ($Billion)
Figure 22. Process Heating Equipment Market for Pharmaceutical, by Country, 2024 - 2032 ($Billion)
Figure 23. Process Heating Equipment Market for Plastic and Rubber, by Country, 2024 - 2032 ($Billion)
Figure 24. Process Heating Equipment Market for Metal, by Country, 2024 - 2032 ($Billion)
Figure 25. Process Heating Equipment Market for Others, by Country, 2024 - 2032 ($Billion)
Figure 26. Top Winning Strategies, by Year, 2021-2023*
Figure 27. Top Winning Strategies, by Development, 2021-2023*
Figure 28. Top Winning Strategies, by Company, 2021-2023*
Figure 29. Product Mapping of Top 10 Players
Figure 30. Competitive Dashboard
Figure 31. Competitive Heatmap: Process Heating Equipment Market
Figure 32. Top Player Positioning, 2023
Figure 33. Babcock Wanson International: Net Sales, 2021-2023 ($Billion)
Figure 34. Babcock Wanson International: Revenue Share, by Segment, 2023 (%)
Figure 35. Babcock Wanson International: Revenue Share, by Region, 2023 (%)
Figure 36. Siemens AG: Net Sales, 2021-2023 ($Billion)
Figure 37. Siemens AG: Revenue Share, by Segment, 2023 (%)
Figure 38. Siemens AG: Revenue Share, by Region, 2023 (%)
Figure 39. Armstrong International Inc.: Net Sales, 2021-2023 ($Billion)
Figure 40. Armstrong International Inc.: Revenue Share, by Segment, 2023 (%)
Figure 41. Armstrong International Inc.: Revenue Share, by Region, 2023 (%)
Figure 42. Mitsubishi Electric Corporation: Net Sales, 2021-2023 ($Billion)
Figure 43. Mitsubishi Electric Corporation: Revenue Share, by Segment, 2023 (%)
Figure 44. Mitsubishi Electric Corporation: Revenue Share, by Region, 2023 (%)
Figure 45. Thermax Limited: Net Sales, 2021-2023 ($Billion)
Figure 46. Thermax Limited: Revenue Share, by Segment, 2023 (%)
Figure 47. Thermax Limited: Revenue Share, by Region, 2023 (%)
Figure 48. Johnson Controls International PLC: Net Sales, 2021-2023 ($Billion)
Figure 49. Johnson Controls International PLC: Revenue Share, by Segment, 2023 (%)
Figure 50. Johnson Controls International PLC: Revenue Share, by Region, 2023 (%)
Figure 51. Danfoss: Net Sales, 2021-2023 ($Billion)
Figure 52. Danfoss: Revenue Share, by Segment, 2023 (%)
Figure 53. Danfoss: Revenue Share, by Region, 2023 (%)
Figure 54. Hurst Boiler and Welding Company, Inc.: Net Sales, 2021-2023 ($Billion)
Figure 55. Hurst Boiler and Welding Company, Inc.: Revenue Share, by Segment, 2023 (%)
Figure 56. Hurst Boiler and Welding Company, Inc.: Revenue Share, by Region, 2023 (%)
Figure 57. Carrier: Net Sales, 2021-2023 ($Billion)
Figure 58. Carrier: Revenue Share, by Segment, 2023 (%)
Figure 59. Carrier: Revenue Share, by Region, 2023 (%)
Figure 60. Chromalox, Inc.: Net Sales, 2021-2023 ($Billion)
Figure 61. Chromalox, Inc.: Revenue Share, by Segment, 2023 (%)
Figure 62. Chromalox, Inc.: Revenue Share, by Region, 2023 (%)

Companies Mentioned

Key Market Players in the Process Heating Equipment Market include:
  • Babcock Wanson International
  • Siemens AG
  • Armstrong International Inc.
  • Mitsubishi Electric Corporation
  • Thermax Limited
  • Johnson Controls International PLC
  • Danfoss
  • Hurst Boiler & Welding Company, Inc.
  • Carrier
  • Chromalox, Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages245
PublishedJuly 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 84.3 billion
Forecasted Market Value ( USD ) by 2032 $ 107.1 billion
Compound Annual Growth Rate2.7%
Regions CoveredGlobal
No. of Companies Mentioned11

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