Global Industry Analysis
The Thermal Oil Heaters Market is a highly competitive and dynamic sector that is estimated to generate over $20 billion in revenue annually. Thermal oil heaters are devices used to heat liquid, usually oil, to higher temperatures than usual. Thermal oil is an important part of many industrial processes, such as drying, heating, and cooling.
Both hot oil heaters and steam boilers perform equivalent tasks. Combustion chambers burn biofuels, coal or oil. The oil passes through oil heating coils before being deposited in convection, zones or radiation. The oil is forced through the coil and processed by a heat exchanger. Thermal expansion is managed by an expansion pump. The cooled oil collects in the tank and returns to the pump. The tank handles the oxidation and vaporization of the oil.
Thermal oil heaters are used to provide heat up to 300 degrees Celsius at very low pressures. Thermal oil can replace steam in many applications, such as natural gas heating and crude oil heating. Thermal oil is used to transfer heat from one heat source to another process. In the global market, thermal oil heaters are available in solid fuel and oil-fired versions. Global players in the hot oil heater industry are looking for hot oil heaters with high capacity heating systems, multiple fuel options, minimal maintenance, above and below floor fuel burning systems, and large transfer areas. convection and floor heat. designed. Combustion fuels for thermal oil heaters are heavy oil, light oil, and gas.
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Thermal oils are used in industries such as chemical and oil and gas. Thermal oil heaters are used to store and transport items that are less likely to solidify. Thermal oils are also widely used for large-scale frying and baking in industrial kitchens. Hot oil heaters are replacing steam heaters in the industrial laundry. Thermal oil is also used as a heat storage medium in solar thermal systems. Manufacturers now produce thermal oil heaters under their own brands.
Drivers and challenges
The global market for thermal oil heaters is primarily driven by increasing demand from the oil and gas and chemical industries. Features such as high temperature and uniform hot oil temperature are expected to drive the global hot oil heater market during the forecast period.
The thermal oil overheats due to sudden trips or unplanned stops. Thermal oil deteriorates from overheating. Oil leaks in the combustion zone can cause accidents. These factors are expected to hamper the growth of the global thermal oil heater market during the forecast period.
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The global thermal oil heater market is expected to expand at a CAGR of around 7-9% during the forecast period (2015-2025).
Thermal Oil Heaters Market: Segmentation
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The global thermal oil heater market is expected to register a CAGR in the single digits during the forecast period. On the basis of geographic region, the global thermal oil heater market is segmented into seven main regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa (MEA). . In terms of market revenue, the Asia-Pacific region excluding the Japan thermal oil heater market is projected to post a significant CAGR during the forecast period. Increasing industry activity is driving the growth of APEJ’s thermal oil heater market.
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Major players in the global thermal oil heater market include Solutia Inc, Paratherm Corporation, Dow Chemicals Co., Radco Industries Inc., Thermax, and others.
The research report presents a comprehensive assessment of the market and includes in-depth information, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using an appropriate set of assumptions and methodologies. The research report provides analysis and information based on categories such as market segments by region, end use, and product type.
The regional analysis includes
- North America (USA, Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, United Kingdom, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia, New Zealand)
- Middle East and Africa (GCC, South Africa, North Africa)
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