Asia-Pacific Fired Air Heaters Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Direct Fired Air Heater and Indirect Fired Air Heater) and End-User (Manufacturing, Chemicals, Mining, Construction, Oil & Gas, Pharmaceuticals, Food, and Others)
Market Introduction
The fired air heaters market in APAC is estimated to grow at a significant CAGR, owing to the substantial demand from manufacturing and construction sectors. As a result, the demand for fired air heaters in the region is increasing. The rise of heating equipment, and hence the market for fired air heaters, is driven by increased energy demand from companies, especially in upcoming economies such as China, and India. Furthermore, due to short start time, high efficiency, and reliability, the demand for fired air heaters in industries such as manufacturing, power generation, and processing, has increased. With 4.4 billion people, Asia-Pacific forms a large, diversified, and dynamic region of the world. The region accounts for more than half of the world's energy consumption, with fossil fuels accounting for 85% of that consumption. Energy demand is rising due to rapid urbanization and industrialization, and there are significant chances to prevent long-term reliance on carbon-based energy technology. Along with a lot of renewable energy potential, the region already has a lot of renewable energy knowledge and expertise. Furthermore, governments will need to have a clear vision and a strong commitment to making the transition to a sustainable, low-carbon energy future, which will further escalate the fired air heaters market in the region. The construction market in APAC is predicted to develop at a 4.09% CAGR.
In case of COVID-19, APAC is highly affected specially India. The reduction in travel demand coupled with the halt in the construction industry, and border restrictions have resulted in the grounding of fired air heaters market at an unprecedented scale. From manufacturing and assembly viewpoint, China is one of the leading manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2 of 2020. Due to this, the manufacturing facilities have been witnessing severe conditions in different product manufacturing facilities. For instance, the China’s manufacturing industry recorded a low of almost 16% in the starting of the 2020. Moreover, the construction industry across the countries faced losses further depleting the demand for fired air heaters. In 2020, Australia's construction industry shrank by almost 5.7%. Furthermore, in India 45% of contractors are at risk of being destroyed as a result of the outages. All construction work has ceased as a result of the lockdown, and the unemployment rate in March 2020 was 5.9%. However, the manufacturing industry in China reached an all-time high of 39% in January 2021. This is anticipated to recover the fired air heaters market in the region. Moreover, the Tokyo Olympics aided in the recovery of the construction industry in the region. As nations start to witness a declining number of COVID-19 patients, many manufacturing plants and facilities are starting to open up in various regions of the continent and employees returning to work.
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Market Overview and Dynamics
The APAC fired air heaters market is expected to grow from US$ 104.33 million in 2021 to US$ 159.29 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028. In the oil & gas industry, fired heaters heat thermodynamic fluids, process fluids, feedstock, charge heating, steam heating, and thermal cracking in refineries. The unit type depends on the application and whether it is a "vertical cylindrical" or a "box-type furnace." These devices are available for installation, either offshore or onshore. Fired air heaters, which are common in refineries and petrochemical industries, pose serious safety concerns. Various process fluids are heated, vaporized, and thermally cracked using them. These heaters must control the system to ensure adequate fuel combustion and safe operation and control temperature and charge rate. The governments of various economies are taking several measures to attract private investments in oil & gas development. Furthermore, China's refineries are becoming more significant in the international gasoline, diesel, and other fuel markets. The China National Development and Reform Commission, for example, has approved China National Petroleum Corporation's plans to build a 10-million-tonne-per-year refinery in Jieyang, Guangdong Province. The rise in oil & gas refinery capacity and expansion of petrochemical and specialty chemicals sectors are driving the APAC fired air heaters market.
Key Market Segments
In terms of type, the direct fired air heater segment accounted for the largest share of the APAC fired air heaters market in 2020. In terms of end-user, the chemicals segment held a larger market share of the APAC fired air heaters market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the APAC fired air heaters market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ALLMAND BROS., INC; Pirobloc, S.A.; SIGMA THERMAL, INC; Wacker Neuson SE; and Zeeco, Inc.
Reasons to buy report
- To understand the APAC fired air heaters market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC fired air heaters market
- Efficiently plan M&A and partnership deals in APAC fired air heaters market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC fired air heaters market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC Fired Air Heaters Market Segmentation
APAC Fired Air Heaters Market - By Type
- Direct Fired Air Heater
- Indirect Fired Air Heater
APAC Fired Air Heaters Market - By End-User
- Manufacturing
- Chemicals
- Mining
- Construction
- Oil & Gas
- Pharmaceuticals
- Food
- Others
APAC Fired Air Heaters Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Fired Air Heaters Market - Company Profiles
- ALLMAND BROS., INC
- Pirobloc, S.A.
- SIGMA THERMAL, INC
- Wacker Neuson SE
- Zeeco, Inc.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Fired Air Heaters Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Fired Air Heaters Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Escalating Oil & Gas Refinery Capacity
5.1.2 Surging Demand for Heating Equipment for Industrial Application
5.2 Key Market Restraints
5.2.1 Complexities Related to Life Span and Operational Negligence
5.3 Key Market Opportunities
5.3.1 Growing Strategic Initiatives by Market Players
5.4 Future Trends
5.4.1 Rise in Construction Sector
5.5 Impact Analysis of Drivers and Restraints
6. Fired Air Heaters Market – APAC Analysis
6.1 APAC Fired Air Heaters Market Overview
6.2 APAC Fired Air Heaters Market – Revenue and Forecast to 2028 (US$ Million)
7. APAC Fired Air Heaters Market Analysis – By Type
7.1 Overview
7.2 APAC Fired Air Heaters Market Revenue Breakdown, By Type, 2020 and 2028
7.3 Direct fired air heater
7.3.1 Overview
7.3.2 Direct Fired Air Heater: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Indirect fired air heater
7.4.1 Overview
7.4.2 Indirect Fired Air Heater: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
8. APAC Fired Air Heaters Market Analysis– By End-User
8.1 Overview
8.2 APAC Fired Air Heaters Market Breakdown, By End-User, 2020 and 2028
8.3 Manufacturing
8.3.1 Overview
8.3.2 Manufacturing: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Chemicals
8.4.1 Overview
8.4.2 Chemicals: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Mining
8.5.1 Overview
8.5.2 Mining: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.6 Construction
8.6.1 Overview
8.6.2 Construction: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.7 Oil and Gas
8.7.1 Overview
8.7.2 Oil and Gas: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.8 Pharmaceuticals
8.8.1 Overview
8.8.2 Pharmaceuticals: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.9 Food
8.9.1 Overview
8.9.2 Food: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
8.10 Others
8.10.1 Overview
8.10.2 Others: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
9. APAC Fired Air Heaters Market – Country Analysis
9.1 Overview
9.1.1 APAC: Fired Air Heaters Market Breakdown, by Country
9.1.1.1 China: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 China: Fired Air Heaters Market Breakdown, by Type
9.1.1.1.2 China: Fired Air Heaters Market Breakdown, by End-User
9.1.1.2 India: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 India: Fired Air Heaters Market Breakdown, by Type
9.1.1.2.2 India: Fired Air Heaters Market Breakdown, by End-User
9.1.1.3 Japan: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Japan: Fired Air Heaters Market Breakdown, by Type
9.1.1.3.2 Japan: Fired Air Heaters Market Breakdown, by End-User
9.1.1.4 South Korea: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 South Korea: Fired Air Heaters Market Breakdown, by Type
9.1.1.4.2 South Korea: Fired Air Heaters Market Breakdown, by End-User
9.1.1.5 Australia: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Australia: Fired Air Heaters Market Breakdown, by Type
9.1.1.5.2 Australia: Fired Air Heaters Market Breakdown, by End-User
9.1.1.6 Rest of APAC: Fired Air Heaters Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Fired Air Heaters Market Breakdown, by Type
9.1.1.6.2 Rest of APAC: Fired Air Heaters Market Breakdown, by End-User
10. APAC Fired Air Heaters Market - COVID-19 Impact Analysis
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 ALLMAND BROS., INC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Pirobloc, S.A.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 SIGMA THERMAL, INC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Wacker Neuson SE
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Zeeco, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Fired Air Heaters Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Fired Air Heaters Market, Revenue and Forecast To 2028 – By Country (US$ Million)
Table 3. China: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 4. China: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 5. India: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 6. India: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 7. Japan: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 8. Japan: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 9. South Korea: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 10. South Korea: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 11. Australia: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 12. Australia: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 13. Rest of APAC: Fired Air Heaters Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 14. Rest of APAC: Fired Air Heaters Market, Revenue and Forecast to 2028 – By End-User (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Fired Air Heaters Market Segmentation
Figure 2. APAC Fired Air Heaters Market Segmentation – By Country
Figure 3. APAC Fired Air Heaters Market Overview
Figure 4. Direct Fired Air Heaters Held the Largest Market Share in 2020
Figure 5. Chemicals Held the Largest Market Share in 2020
Figure 6. China was the Largest Revenue Contributor in 2020
Figure 7. APAC – PEST Analysis
Figure 8. APAC Fired Air Heaters Market– Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. APAC Fired Air Heaters Market: Impact Analysis of Drivers and Restraints
Figure 11. APAC Fired Air Heaters Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Fired Air Heaters Market Revenue Breakdown, by type, 2020 and 2028 (%)
Figure 13. APAC Direct Fired Air Heater: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Indirect Fired Air Heater: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Fired Air Heaters Market Breakdown, By End-User, 2020 and 2028 (%)
Figure 16. APAC Manufacturing: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Chemicals: Fired Air Heaters Market- Revenue and Forecast To 2028 (US$ Million)
Figure 18. APAC Mining: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Construction: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Oil and Gas: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Pharmaceuticals: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Food: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. APAC Others: Fired Air Heaters Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC: Fired Air Heaters Market Revenue Overview, by Country (2020) (US$ Mn)
Figure 25. APAC: Fired Air Heaters Market Breakdown, by Country, 2020 & 2028 (%)
Figure 26. China: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 27. India: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 28. Japan: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 29. South Korea: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 30. Australia: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 31. Rest of APAC: Fired Air Heaters Market, Revenue and Forecast To 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in APAC Country Markets
- ALLMAND BROS., INC
- Pirobloc, S.A.
- SIGMA THERMAL, INC
- Wacker Neuson SE
- Zeeco, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC fired air heaters market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC fired air heaters market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the fired air heaters market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution