Immersion Heater Market Segmentation:
Application Segment Analysis
The chemical & plastic industry is expected to hold 30% share of the global immersion heater market during the forecast period. The market is expanding due to the growing need for energy-efficient heating systems in the plastic and chemical industries. In 2022, there was a 2.2% global improvement in energy efficiency, which was twice as much as the preceding five years combined. Around 1% more energy was consumed worldwide in 2022. Without advances in energy efficiency, this would have been over three times higher. Immersion heaters have become increasingly common in the chemical and plastics industries over time. They are used for a wide range of applications, such as heating chemical reactions, heating reactor vessels, heating chemical storage tanks, heating viscous liquids, and heating moulds. The chemical and plastic sectors are anticipated to adopt complex technology, such as low-NOx burners and sophisticated materials for immersion heaters, at a faster rate, which will drive the segment's expansion even further.
Product Type Segment Analysis
The oil immersion heaters segment in the immersion heater market is projected to hold the largest revenue share of about 30% due to the growing need for oil immersion heaters in sectors including food processing, chemical processing, and oil and gas extraction. These sectors rely on oil immersion heaters for pipeline, tank, and vessel heating, among other heating applications. Furthermore, technological developments have produced oil-immersion heaters that are more economical and ecologically friendly, which has increased their use across a range of industries.
Our in-depth analysis of the global immersion heater market includes the following segments:
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