Crude Heater Market Is Estimated To Exhibit Growth At A CAGR Of Around 4% To 5% During The Forecast Period 2022-2032

Crude Heater Market: Dynamics

The growing demand for efficient and durable crude heaters in the oil and gas industry is considered to be the primary growth driver for the global crude heater market. Owing to the increasing demand for gasoline and fuel, the oil industry is anticipated to witness steady growth in the near future. The continuously increasing demand for refinery products across numerous end-use sectors is a sign for the future demand for high quality crude oil. In order to fulfill the demand for crude oil products, vendors have increased their refinery capacities. For example, in recent years, PDVSA and PETROBRAS have increased their refining capacities. This, in turn, is estimated to propel the demand for crude heaters over the period of forecast.

Manufacturers in the crude heater market have to face some challenges regarding the stringent regulations laid down by governments. In order to reduce VOC (Volatile Organic Carbon) emissions from industries, regulatory legislations laid out by the EU government – REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) – address the production and use of chemical substances such as process oil, and its potential impacts on humans and the environment. The parliaments of other regions such as European nations have banned oil with high content of hydrocarbons, which affects the production of oil in terms of volume, subsequently hindering the growth of the crude heater market.

The ongoing trend gaining momentum in the oil and gas industry is the introduction of the flameless combustion technique by Great Southern Flameless (GSF). This technology was introduced in the glass and steel industry many years before, as both these industries operate at very high temperatures and run at constant steady state conditions, which is considered to be an ideal condition for flameless combustion. The commercialization of flameless fired crude heaters demanded several design features to have a flameless heater operating in the refining environment.

Crude Heater Market: Regional Outlook

Globalization, population growth, and economic changes have not only contributed to the crude oil industry, but have also led to a rise in the standards of oil and gas services. The increasing number of refinery projects in Europe and the Middle East, particularly Russia, Kazakhstan, Saudi Arabia, and many others, is estimated to propel the demand for crude heaters. These nations have huge oil reserves, which, in turn, surges the demand for crude heaters. Further, Asia Pacific is estimated to be a key opportunistic market, due to the setting up of new refineries to meet the growing demand for new units in developing countries. This may positively impact the global crude heater market during the forecast period.

Crude Heater Market: Key Participants

Examples of some of the market participants identified across the value chain of the global crude heater market are:

• Amec Foster Wheeler
• Exotherm Corporation\
• American Heating Company
• C. Broach Company
• Thermotech Systems Ltd.
• Chromalox, Inc.
• Garcem Engineers

The research report presents a comprehensive assessment of the crude heater market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the crude heater market segments such as geography, capacity, and type of combustion.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Crude Heater Technology
• Crude Heater Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The global crude heater market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The global crude heater market report also maps the qualitative impact of various market factors on market segments and geographies.

The global crude heater market has been segmented by capacity and type of combustion.