Immersion Heater Market Size

Immersion Heater Market size was valued at USD 841.83 million in 2024 and is likely to cross USD 1.61 billion by 2037, registering more than 5.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of steam trap is estimated at USD 876.18 million. The construction of smart cities and the quick development of green building projects would drive the market expansion. In comparison to typical structures, energy consumption in green buildings can be reduced by 30%–40%. Water consumption in green buildings can be lowered by 20% to 30%. Up to 35% less CO2 can be released from green buildings.

In addition, the demand for immersion heaters has increased as a result of global government programs and legislation encouraging the adoption of energy-efficient heating systems. Also, immersion heaters are becoming more and more appealing because of the rising cost of electricity, as they are frequently less expensive to run than other heating solutions.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of steam trap is estimated at USD 876.18 million.

The immersion heater market size was valued at USD 841.83 million in 2024 and is likely to cross USD 1.61 billion by 2037, registering more than 5.1% CAGR during the forecast period i.e., between 2025-2037. Increasing government programs and development of new technologies will boost the market growth.

North America industry is predicted to hold largest revenue share of 33% by 2037, impelled by regulatory measures to reduce the environmentally harmful equipment in the region.

The major players in the market are NIBE Group, CIRCOR International, Inc., Chromalox INC, Headway Electric Heat Components CO. Ltd, Minco Products, Inc, Hotset GmbH, Phillips & Temro Industries, Thermal Corporation, Industrial Heater Corporation, OMEGA Engineering, Inc.

Immersion Heater Market Size