Fired Heaters Market Size Worth $844.48 Million By 2032 | CAGR: 5.1%

The global fired heaters market size is expected to reach USD 844.48 million by 2032, according to a new study by Polaris Market Research. The report “Fired Heaters Market Share, Size, Trends, Industry Analysis Report, By Product Type (Direct-Fired Heaters and Indirect-Fired Heaters); By Configuration (Vertical Cylindrical, Horizontal Cylindrical, Cabin Type, Others); By End User; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapid rate of industrialization and urbanization across both developed and developing economies that led to significant growth in infrastructure development and construction projects and higher demand for power generation to meet the requirements of customers globally, are among the prominent factors influencing the global market growth.

The growing integration of Internet of Things technology resulting in remote monitoring and diagnostics of fired heaters and heavily rising investments to develop new systems with improved capabilities by major companies, are likely to contribute significantly towards the market expansion. For instance, in November 2022, Ardagh Group & Absolut Vodka’s, announced that they have entered into a collaboration to co-invest in a hydrogen-fired glass furnace for the large-scale production, while aiming to reduce the CO2 emissions.

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The rising proliferation for incorporating advanced control systems and automation technologies into fired heaters, that enhances the efficiency, safety, and reliability of fired heaters along with the surging implementation of emission control technologies which helps industries to effectively comply with environmental regulations and reduce pollutant emissions, is anticipated to generate huge growth potential for the global market. Beside this, fired heaters are now being integrated into broader process control and optimization systems, allowing for better coordination and optimization of heating processes across the industrial facility.

Moreover, the surging adoption of digitalization and connectivity solutions across the globe, allowing for remote monitoring, control, and optimization of fired heaters and enable real-time monitoring of heater performance, predictive maintenance, and data-driven decision-making resulting in enhanced operational efficiency, reduce downtime, and improve safety are likely to impact the market in a positive way.

Fired Heaters Market Report Highlights

• Direct-fired segment accounted for largest global market share in 2022, mainly driven by its advantageous characteristics including high energy efficiency and low operating costs
• Vertical cylindrical segment held the market with considerable share in 2022, owing to its widespread use in industries including petrochemicals, power generation, refining, and oil & gas
• The chemicals segment is projected to gain highest growth rate over the coming years, due to rapid growth in the number of new chemical plants construction and technological advancements in fired heater technology
• North America region led the industry market with largest share in 2022, on account of growing investments for the development of sustainable solutions and various stringent regulations fueling the adoption of cleaner solutions
• The global key market players include Cambridge Air Solutions, Exotherm Corporation, Tamarack Industries, Therm Dynamics, Petro-Techna International, and Stelter & Brinck

Polaris Market Research has segmented the fired heaters market report based on product type, configuration, end user, and region:

Fired Heaters, Product Type Outlook (Revenue - USD Million, 2023 - 2032)

• Direct-Fired Heaters
• Indirect-Fired Heaters

Fired Heaters, Configuration Outlook (Revenue - USD Million, 2023 - 2032)

• Vertical Cylindrical
• Horizontal Cylindrical
• Cabin Type
• Others

Fired Heaters, End User Outlook (Revenue - USD Million, 2023 - 2032)

• Chemicals
• Petrochemicals
• Power
• Oil & Gas
• Others

Fired Heaters, Regional Outlook (Revenue - USD Million, 2023 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Fired Heaters Market Report Scope