The fired heaters market is forecast to record a volume CAGR of nearly 7% through 2028
Rockville Pike, MD -- (SBWIRE) -- 07/12/2019 -- The development of the fired heaters market can be directly linked with the expansion of petrochemical and chemical industry. These sectors have created massive demand for machinery and equipment, which has impressively triggered the adoption of fired heaters to improve combustion performance. Fact.MR has skillfully published a new research study that stresses on the advancements projected to occur across the industrial heaters market, with fired heaters receiving greater traction. This assessment is titled "Fired Heaters Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 – 2028", which discusses core market aspects such as macro-economic factors, PESTLE analysis, Porter's Five Forces analysis, supply chain analysis as well as market dynamics comprising drivers, opportunities and restraints. The report reveals the fired heaters market is estimated to record a volume CAGR of nearly 7% until 2028.
According to this intelligent Fact.MR study, the global sales of fired heaters were recorded at 695 units in 2018; it is estimated the target market will register nearly 5% Y-o-Y in the year 2019. The report diligently enlightens the readers about the geographical market share together with insights associated to manufacturer contribution to the overall growth of the fired heaters market.
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Upsurge in Sales of Direct Fired Heaters during Forecast Period
As reported in this assessment, the market share acquired by direct-fired heaters is estimated to value more than 70% in the global fired heaters market. It should be noted that increasing consumer demand for cost-effective, highly productive fired heaters has motivated the sales of direct fired heaters. In addition, striking characteristics such as capability to reach 100% operational efficiency, are positively functioning for streamlining the growth of the fired heaters market. Looking at this rising inclination towards direct fired heaters, leading manufacturers have shifted their focus to provide equipment with enhanced air volume to heat output ratios.
East Asia Supports Fired Heater Manufacturers with Enduring Sales
Focusing on the geographical extent of the fired heaters market, East Asia is expected to remain as the most lucrative market for fired heaters, since it is estimated to acquire 25% sales in the overall fired heaters market in 2019. Interestingly, China has been marked as the promising contributor that has been aiding numerous fired heater manufacturers, thereby, accounting sales exceeding 70% in East Asia. These growth statistics in the region can be accredited to the presence of numerous chemical and petrochemical process equipment services.
Report Overview- https://www.factmr.com/report/1958/fired-heaters-market
The final section of the report is dedicated to outline the efforts managed put in by leading market players operating in the fired heater sector. It has been observed that, investment of fired heater manufacturers towards new product development has received an extraordinary uptick in recent years. These companies are also laying emphasis on the discovery of new materials, together with process innovations in order to conserve cost and abide sustainability goals of the energy & power industry. Some of these players mentioned in the report are AbsolutAire, Inc., Optimized Process Furnaces, Inc., TechEngineering S.r.l., Thermax, Exotherm Corporation, G.C. Broach Company, Amec Foster Wheeler, Unit Birwelco Group, Sigma Thermal, Hetsco Inc., and Boustead International Heaters Ltd.
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