The global combustion air heater market is expected to grow from US $ 491.73 million in 2021 to US $ 692.24 million by 2028; it is estimated to increase at a CAGR of 5.0% from 2021 to 2028. Governments of various economies are taking several measures to attract private investment in oil and gas development.
New York, January 7, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Hot Air Heating Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type and End User” – https: // www.reportlinker.com/p06195590/?utm_source=GNW
The Adana refinery and petrochemical complex in Turkey, for example, aims to reduce dependence on imports in the energy, mining, refining and petrochemicals sectors.
The project is currently at the feasibility stage, with a US $ 10 billion investment from a Turkish heritage fund disclosed in December of last year. The expropriation of a 10 million square meter block of land for the planned facilities is the first step.
It will be built in Ceyhan, Turkey, which is considered a hub for petrochemicals. It is expected to contribute about US $ 1.5 billion per year to Turkey’s trade deficit, reducing its annual cost of importing petrochemicals by US $ 13 billion. A wealth of potential has unfolded as African governments open up development prospects and companies invest heavily in new areas. The Gas Revolution Industrial Park (GRIP), a downstream refinery and petrochemical complex in Nigeria’s delta region, has been under construction for a long time. The Nigerian National Petroleum Corporation (NNPC) owns the entire complex, containing several new chemical plants that would use Nigeria’s abundant natural gas as feedstock. GRIP was declared a free zone because it is a government-owned project, allowing for faster planning and access to a wider range of resources.
The air heater is used in air conditioning for processing and finishing applications such as paint curing, material drying and others which is expected to drive the growth of the air heater market. These unit heaters are inexpensive to build, maintain, and operate relative to other types of furnaces, fueling market growth.
The wide range of hot air heater applications among end users such as chemicals, manufacturing, mining, oil & gas, pharmaceuticals, warehouse and others is expected to drive the heater market hot air.
Impact of the COVID-19 pandemic on the hot air heating appliance market
The COVID-19 pandemic has significantly affected the world and continues to disrupt several countries.
Unfortunately, the COVID-19 epidemic has decimated the demand for combustion air heaters in different industries globally, reflecting significantly lower order volumes among aircraft manufacturers, resulting in a decline in the number of productions. The decline in production volumes had a negative impact on the activities of various manufacturers of components and related technologies.
In addition, the weakening of end users such as the construction, automotive and mining industries has demotivated the market. Thus, the activities of the players in the hot air heaters market have been seriously affected by the destabilization of production.
As the COVID-19 virus spread, the entire construction industry came to a halt with minimal resources to plan for the future. Several production units in the United States, France, Russia and China have been temporarily suspended to comply with government rules regarding lockdown and physical distancing. The players in the construction sector have recorded a drop of 20 to 30% in the demand for new projects. In addition, the cessation of ongoing construction projects has further weakened the market. This factor has negatively impacted the hot air heaters market.
The overall market size for Hot Air Heaters has been derived using primary and secondary sources. To begin the research process, a comprehensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process is also used to get an overview and forecast of the Hot Air Heaters market with respect to all segments. , Europe, Asia-Pacific, Middle East and Africa and South America.
In addition, primary interviews were conducted with participants and industry commentators to validate the data and gain more analytical insight on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as valuation experts, research analysts and key opinion leaders specializing in the hot air heater market.
Major players operating in the market include Allmand Bros., Inc. (Briggs & Stratton); Exotherm Company; Pirobloc, SA; Hastings CVC; Wacker Neuson SE; Zeeco, Inc .; Stelter & Brinck, Ltd .; and Dynamic Thermal.
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