North America Fired Air Heaters Market
North America dominates the market, owing to a substantial number of fired air heater manufacturers across the US and Canada. The market is expected to experience growth in the forthcoming years, owing to the rise in demand for clean production technology, reducing the dependency on carbon-emitting propellants. North America's chemical sector is undergoing a once-in-a-generation rebirth. This large and diverse industry's growth rate tends to match GDP, although a number of variables are likely to increase the industry's growth. The significant chemical industry in North America also leads to an increase in carbon footprints, owing to which the demand for fired air heaters in the region is mounting. For instance, according to the US Energy Information Administration, the US emitted 5.1 billion metric tons of energy-related carbon dioxide in 2019. With the government intervention, chemical processing players are increasingly emphasizing the usage of fired air heaters to avoid their contributions to increasing carbon footprints. Moreover, growth in the construction activities in the region is further escalating the growth of the fired air heaters market. The residential sector was a key driver of the pick-up in building in the US and Canada in 2018, with cheap borrowing costs and wage growth continuing to stimulate the demand for more dwelling units. The construction business in the US is one of the world's largest, with private spending reaching US$ 977 billion in 2019 and 11.2 million people employed in the sector. In addition, the construction industry is predicted to grow at a noteworthy rate in the upcoming years. As a result of the expanding construction industry, the market for fired air heaters is likely to rise.
The massive COVID-19 outbreak has created a health crisis and an economic crisis in the US. It has led to major disruptions in construction, mining, chemical, automobile, and aerospace, impacting everything from supply chain and manufacturing to product sales. The fired air heater manufacturers and service providers in the region are also affected due to nationwide lockdowns and travel restrictions, production facilities shut down, and employee shortage in response to the COVID-19 pandemic. The pandemic has, directly and indirectly, impacted the industry’s short-term and long-term strategies. The pandemic has reached an unprecedented level for the manufacturing industry in North America, with increasing net losses and delays in recovery. North America’s mining and chemical industries were some of the strongest performers in the pre-crisis period. However, studies estimated a loss of approximately US$ 100 billion in 2020 in the region. Nevertheless, following the recovery in 2021, the North American mining industry’s net profit margin is anticipated to improve to –14% in 2020. The presence of large domestic markets is anticipated to drive the improvement. The region is expecting market recovery from the economic disruption. Recovery in demands for resuming construction activities, chemicals, and mining activities coupled with government stimulus is anticipated to boost manufacturing and sales of fired air heaters.
Strategic insights for the North America Fired Air Heaters provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 187.65 Million |
| Market Size by 2028 | US$ 253.49 Million |
| Global CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Fired Air Heaters refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America fired air heaters market is expected to grow from US$ 187.65 million in 2021 to US$ 253.49 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. Major players in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the fired air heaters industry. For instance, Sigma Thermal combined with Flarectec in April 2019 to increase its capacity to supply high-quality heating solutions for industrial applications. It has strengthened its direct fired heater experience and product line by working together. Radiant-convective heaters, convection heaters, and radiant heaters are among the three types of direct-fired heaters that it designs and manufactures. Similarly, in 2018, Allmand Bros. Inc., an 80-year-old producer of high-performance portable job site equipment and a subsidiary of Briggs & Stratton Corporation, has expanded its current facility to boost manufacturing capacity and speed-to-market with new technologies. Allmand will be able to fulfil rising demand for its products across all of its sectors, including oil and gas, construction, and infrastructure, by extending the footprint, capabilities, and efficiency of its current facilities. The market is expected to become more competitive during the forecast period, as many companies from various sectors are eyeing the potential benefits of fired air heaters to use the huge opportunities in the market. With all these strategies the companies enhance their product offerings and footprint across all industries, therefore boosting the annual revenue growth.
In terms of type, the direct fired air heater segment accounted for the largest share of the North America fired air heaters market in 2020. In terms of end-user, the chemicals segment held a larger market share of the North America fired air heaters market in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America 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; Exotherm Corporation; Hastings HVAC, Inc.; Pirobloc, S.A.; SIGMA THERMAL, INC; Stelter & Brinck, Ltd.; Tamarack Industries; Therm Dynamics; Wacker Neuson SE; and Zeeco, Inc.
The North America Fired Air Heaters Market is valued at US$ 187.65 Million in 2021, it is projected to reach US$ 253.49 Million by 2028.
As per our report North America Fired Air Heaters Market, the market size is valued at US$ 187.65 Million in 2021, projecting it to reach US$ 253.49 Million by 2028. This translates to a CAGR of approximately 4.4% during the forecast period.
The North America Fired Air Heaters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Fired Air Heaters Market report:
The North America Fired Air Heaters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Fired Air Heaters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Fired Air Heaters Market value chain can benefit from the information contained in a comprehensive market report.
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