Electric Heating Elements Market Report

Market Insights

The Electric Heating Elements market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x % during the forecast period.

Figure: Electric Heating Elements Market Size, 2020-2026 (USD Million)

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What is Electric heating element?

Electric heating elements are defined as elements which convert electrical energy into heat through the process of joule heating. These elements contain an electric current which flows through the coil or ribbon or wire and becomes hot. The heaters can be categorized as immersion heaters, tubular heaters, circulation heaters, band heaters, strip heaters, coil heaters, flexible heaters and other.

Key Players

Key players operating in the Electric Heating Elements market are-

• Nibe Industrier (Sweden),
• Watlow Electric Manufacturing Co. (The U.S),
• Chromalox, Inc. (The U.S),
• Dongfang Electric Corporation Limited (China),
• Friedr. Freek GmbH (Germany),
• Omega SA (Switzerland),
• Zoppas Industries S.p.A. (Italy),
• Thermowatt (Italy),
• Tutco, Inc. (The U.S),
• Tempco Electric Heater Corporation (The U.S),
• Thermon Heating Systems, Inc. (Canada),
• Headway Electric Heat Components CO., LTD (China),
• Hotset GmbH (Germany),
• Minco (The U.S), and
• Durex Industries (The U.S).

Market Dynamics

The rapid growth of the chemicals & plastic and pharmaceuticals industry in developing countries is expected to drive the market growth substantially.

• The growth of the electric heating elements market is primarily driven by widespread product use in numerous end-use industries including the chemical & plastics industry, pharmaceutical industry, transportation, appliances, and others.
• In addition to this, rising demand for advanced and high-quality heating elements is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segment's Analysis

Application Trends

By application, the electric heating elements market has been bifurcated into chemical & plastics industry, pharmaceutical industry, transportation, appliances, and others.

• Under these, the chemicals & plastics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
• The market growth can be attributed to significant industry growth, particularly in developing countries.

Regional Trends

By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.

• The regional growth can be attributed to expanding growth of the end-use industries coupled with easy availability of raw material and labor, particularly in China and India.
• The market growth in developed regions is expected to be driven by increasing demand for high-quality and advanced heaters.

COVID-19 Impact on Electric Heating Elements Market

The covid-19 outbreak posed significant challenges on the industrial sector across geographies. It impacted the growth of the electric heating elements market negatively as imposition of lockdown and trade restrictions affected the product supply and demand amid pandemic.

Critical Questions Answered in the Report

• What are the key trends in the Electric Heating Elements market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Electric Heating Elements market?
• What are the key strategies adopted by the major vendors to lead in the global Electric Heating Elements market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the Electric Heating Elements market hopes to have the greatest opportunity to convert-

• Electric heating elements distributors
• Electric heating elements suppliers
• Electric heating elements manufacturers
• Logistics organizations
• Government bodies

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