Analysis of Potential Impact of COVID-19 on Immersion Heater Market

Global Immersion Heater Market: Overview

Immersion heaters find use in heating several liquid substances, such as chemicals, oil, and water. It is also utilized in the stabilization of gas inside their tanks. Immersion heaters find use in several industries inside the storing tanks of several liquids at the time of pressurizing the storing containers and pipe processing. Immersion heaters are made in such a way that it is capable of tolerating the conditions of any environment and the customer can utilize it either in any acidic medium or in pure water. Growing importance of these heaters is expected to encourage growth of the global immersion heater market over the forecast timeframe, from 2020 to 2030. These heaters find specific utilization in several applications tanks, pressure vessel or for the purpose of body installation.

Type, end user, and region are the three important parameters based on which the global immersion heater market has been classified.

Global Immersion Heater Market: Notable Developments

One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global immersion heater market is mentioned as below:

In February 2020, Sweden-based provider of sustainable energy solutions, NIBE Industrier AB has acquired Nathan Holding B.V. The latter is a Dutch company and is a distributor of sustainable cooling and heating solutions in the Benelux Union. Following the acquisition, it is expected that NIBE will be able to strengthen its position as a leading provider of heating and cooling solutions in Europe.

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Some of the prominent organizations in the global immersion heater market comprise the below-mentioned:

Warren Electric Industrial Electric Heaters
Tempco Electric Heating Element Corporation
Tutco Heating Solutions Group
NIBE Industrier AB
Hotset GmbH
CIRCOR International, Inc.

Global Immersion Heater Market: Key Trends

The global immersion heater market is characterized by the presence of the following restraints, drivers, and opportunities.

Increased Demand for Energy Saving and Environment Friendly Appliances to Boost Market

The development of the global immersion heater market is likely to be influenced by rising demand for eco-friendly smart city construction and building projects. The market is expected gather traction from the existing policy initiatives to make an installation of energy efficient heating devices so as to diminish power consumption and emissions of carbon dioxide in the air. Government agencies have asked manufacturers to implement and develop innovative and environment-friendly heat building techniques, which are rated on the basis of thermal efficiency and standby loss. These factors are expected to work in favor of the global immersion heater market in the years to come.

Immersion heaters come with features like minimal maintenance and fuel efficiency. Augmented use of the product across various small-scale commercial and residential establishments depending on its enhanced environmental sustainability and its precision temperature control is likely to bode well for the market. Augmented inclination of consumers toward energy saving heating solutions together with extreme climatic conditions is likely to open up plethora of avenues for the growth of the global immersion heater market over the forecast timeframe, from 2020 to 2030.

Global Immersion Heater Market: Geographical Analysis

Europe and North America collectively are anticipated to account for a large chunk of the global immersion heater market over the analysis timeframe. Dominance of these two regions is attributed to increased awareness about the environment. In addition, formulation of regulatory policies restricting the use of low or no-energy saving appliances that leave adverse effect on the environment as well is likely estimate to boost the regional markets in the years to come.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements: