Flexible Heater Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2030
Introduction to Flexible Heater Market:
Flexible heaters are devices used to provide heating to surfaces. These heaters are efficient enough to work with brilliant performance under complex circumstances.The flexible heaters have the potential to get moulded into the shape of the heated object. Silicon rubber heaters, polyimide heaters, polyester, mica, heating taps with thermostats etc are various types of flexible heaters. These heaters are useful in industrial ,medical, commercial and military sectors.
The market for flexible heaters is expected to rise substantially during the period 2020-2030. ATM machines, aerospace, automotives, battery heaters, food and service equipments, defense equipments etc. use flexible heaters. Due to their great flexibility, reliability, applicability and moisture resistancy, these heaters continue to be preferred.
Flexible Heater Market: Key Drivers
The growing usage of flexible heaters in medical equipment is surging market growth. These heaters provide regulated temperature to the advanced medical equipment.
In addition to the healthcare industry, the use of flexible heaters in LCDs, food equiment, surgical equipment, smart devices, military devices and photo-resist track systems is also creating opportunities for manufacturers. Availability of new and advanced technological flexible heaters at reasonable prices and the reduction in their cost is attracting companies towards it providing potential opportunities to its market growth. The rise in the dependency on graphical imaging, thermal processing, aerospace, automotives etc are thriving the market demand for flexible heaters like polyester, silicone rubber, polyimide and mica heaters.
Flexible Heater Market: Key Restraints
The operational cost of flexible heaters is extremely high posing a challenge to its market growth. Maintenance, utility and insurance costs puts high burden on the companies. The high tax rates levied by the government due to slow down of the current economy is declining its market. In addition to that, the spread of Covid 19 pandemic is largely influencing the flexible heater market. It has resulted in weakening the economy and has caused sluggish demand of this market.
COVID-19 Impact on Flexible Heater Market
The COVID-19 pandemic has had an impact on various industries. The HVAC industry has not been immune to this. Due to Covid 19 pandemic, there is a decline in the demand and supply of the flexible heaters. However, according to analysis, it is anticipated that demand will pick up in the long-term, as industries across the globe are looking for efficient heating solutions.
Flexible Heater Market: Region-Wise Forecast
The market for flexible heaters will witness substantial growth rate during the given forecast of ten years. According to research, in addition to US and Europe, demand will also be strong from Asia Pacific. Many countries in Asia Pacific are investing in energy projects, which is likely to provide an impetus to market growth. The applicability of flexible heaters in defense systems, medical equipments and semi-conductors is contributing to its growth in Asia Pacific.
By Distribution Channel:
The global market for flexible heaters continues to be fragmented. To consolidate their position, the manufacturers focusing on mergers and acquisitions, technological advancements as well as partnership agreements to deals. In addition to that, the market players are becoming higly professional in modifying their strategies, techniques, policies, practices and methods to leave its rival firms far behind and create its unique identity among the users. Value delivery is a recent approach that the key market players are focusing on in order to ensure customer satisfaction and profit maximisation. Joint ventures, product innovations and new product developments are some other strategies that the companies are relying upon to gain competitive edge over its rival firms.
Some of the major key players in flexible heater market are Rogers Corporation, Omega Engineering, Honeywell International Incorporation, Watlow Electric Manufacturing, Chromalox, Zoppas Industries, Minco Products, Durex Industries, SinomasCorporation, Tutco Heating Solutions Group, Holroyd Components Ltd etc.
The flexible heater market is likely to grow at over 7% CAGR through 2030. Demand for energy-efficient solutions is likely to drive growth.
The historical CAGR for flexible heater market is between 5% to 6%. During the period 2015-2019, the market grew at this rate.
China is the largest market for flexible heaters. Regionally, APAC continues to be the largest market.
Sillicone rubber type flexible heaters continue to be preferred by end-users owing to their growing use in semiconductor systems
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