Report : North America Fired Air Heaters Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Direct Fired Air Heater and Indirect Fired Air Heater) and End-User (Manufacturing, Chemicals, Mining, Construction, Oil & Gas, Pharmaceuticals, Food, and Others)
Direct Fired Air Heater Segment to Dominate North America Fired Air Heaters Market During 2021–2028
According to a new market research study on “North America Fired Air Heaters Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End-User” is expected to reach US$ 253.49 million by 2028 from US$ 187.65 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the North America fired air heaters market along with the drivers and restraints pertaining to the market growth. Rising demand for heating equipment for industrial application and growth in oil & gas refinery capacity are the major factor driving the growth of the North America fired air heaters market. However, longer life span and operational Issues hinders the growth of North America fired air heaters market.
The massive COVID-19 outbreak has created a health crisis and an economic crisis in the US. It has led to major disruptions in construction, mining, chemical, automobile, and aerospace, impacting everything from supply chain and manufacturing to product sales. The fired air heater manufacturers and service providers in the region are also affected due to nationwide lockdowns and travel restrictions, production facilities shut down, and employee shortage in response to the COVID-19 pandemic. The pandemic has, directly and indirectly, impacted the industry’s short-term and long-term strategies. The pandemic has reached an unprecedented level for the manufacturing industry in North America, with increasing net losses and delays in recovery. North America’s mining and chemical industries were some of the strongest performers in the pre-crisis period. However, studies estimated a loss of approximately US$ 100 billion in 2020 in the region. Nevertheless, following the recovery in 2021, the North American mining industry’s net profit margin is anticipated to improve to –14% in 2020. The presence of large domestic markets is anticipated to drive the improvement. The region is expecting market recovery from the economic disruption. Recovery in demands for resuming construction activities, chemicals, and mining activities coupled with government stimulus is anticipated to boost manufacturing and sales of fired air heaters.
The North America fired air heaters market is segmented into type, end-user, and country. By type, the market is bifurcated into direct fired air heater and indirect fired air heater. The direct fired air heater segment dominated the North America fired air heaters market in 2020 and same segment is expected to be fastest growing during forecast period. End-User covered in the study include manufacturing, chemicals, mining, construction, oil & gas, pharmaceuticals, food, and others. The chemicals segment dominated the North America fired air heaters market in 2020 and construction segment is expected to be fastest growing during forecast period. Based on country, the market is analyzed across the US, Canada, and Mexico.
ALLMAND BROS., INC; Exotherm Corporation; Hastings HVAC, Inc.; Pirobloc, S.A.; SIGMA THERMAL, INC; Stelter & Brinck, Ltd.; Tamarack Industries; Therm Dynamics; Wacker Neuson SE; and Zeeco, Inc. are among the leading companies in the North America fired air heaters market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Zeeco, Inc. has announced its new office in Midland, TX is fully operational and is providing local sales and field service support, aftermarket parts, combustion rental equipment, repair services, new equipment staging, and more to the Permian market.
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