The global demand for Industrial Electric Heating Element Market is presumed to reach the valuation of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period of 2020 - 2027.
Industrial electric heating elements are heating products used to raise the temperature of objects, air, gas, liquids, or processes used in industrial applications. The various types of heating elements available in the market include flange heaters, circulation heaters, tubular heaters, immersion heating elements, etc. These heating elements are generally equipped with mechanical or digital controls or/and thermocouples to provide accurate temperature readings. They are built with safety features like high cut off limits to prevent any hazardous situations. Electric heating elements are extensively used in construction, shipping, railways, aircraft, ventilation, industrial boilers, etc. The heating element choice depends on the medium being heated and the amount of heating power required.
The rising demand for clean and sustainable energy is the critical driver for the growth of this market. Low cost of raw materials, cheaper maintenance, longer shelf life, higher efficiency, and better automation of electric heating elements are the various factors anticipated to boost the market growth. The rising use of electric heating elements across a wide range of industries like chemical & plastics, pharmaceutical, transportation, appliances, aviation, etc., will help maintain steady growth in the market. The low energy conversion rate and higher chances of electric hazards are the various restraining factors for this market’s growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of industrial electric heating element.
This section of the industrial electric heating element market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
By Software Type
By End-User Industry
- Spend Analysis
- Contract Management
- Supplier Management
- Transportation and Logistics
- Other End-user Industries
This section covers regional segmentation which accentuates on current and future demand for Industrial Electric Heating Element market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Industrial Electric Heating Element Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the industrial electric heating element market include SAP SE, Proactis Holdings PLC, Epicor Software Corporation, Ginesys (Ginni Systems Limited), Coupa Software Inc., Zycus Inc., GT Nexus (Infor Inc.), Ivalua Inc., Microsoft Corporation, Oracle Corporation, Basware AS, Mercateo AG, GEP Corporation, Jaggaer Inc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.