PUBLISHER: Allied Market Research | PRODUCT CODE: 1298325
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298325
The global line heaters market was valued at $20.8 million in 2021, and is projected to reach $34.4 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Line heaters are type of production and processing equipment used to maintain the temperature of the gas in a flow line above the hydrate temperature (freezing temperature). Three components that are commonly found in a line heater include a liquid bath, a fire tube, and a process coil. The key role of line heaters equipment is to lower the formulation of hydrate during the oil field operations. The pre-assembled line heaters include coil, heater and fuel gas system and have rated capacities from 1-4.0 MM BTU/hr. The customization in the line heaters can be done according to the application which increases the demand for line heaters in different end users.
One of the major factors contributing toward the line heater market growth are changes in shale oil and gas exploration activity. Line heaters can improve performance, control operating costs, and reduce unscheduled equipment & well shutdowns. Moreover, both the developing oil and gas drilling industry and increasing adoption of high-power heating equipment contribute to the rapid growth of the line heaters market. Major oil and gas companies create opportunities for line heaters market industry by investing more resources in exploration projects.
The line heaters come with the several advantages such as reduction of downtime of machines, prevention of the formation of hydrates in pipeline and reduction of the maintenance cost of pipelines. This is expected to drive the demand for line heaters equipment in the oil and gas industry. Line heaters are used in several applications of manufacturing processes. The line heaters are perfect solution for maintaining precise temperature control over processes, which increases the demand for line heaters in the market.
Adopting innovative techniques for flare elimination, mitigating fugitive emissions and addressing liquids and gas leaks are the key investment priorities for well site engineers. Favorable government initiatives for the adoption of line heaters at production site drive the market growth in near future. Global demand for line heaters is being driven by efforts to reduce pipeline maintenance costs and tighten worker safety regulations in different regions.
Today, oil exploration companies are engaged in the findingand building of excavation projects on both onshore and offshore. Increase in the oil well excavation projects in the different regions is projected to create opportunities for the global line heaters market.
For the purpose of analysis, the line heaters market is segmented on the basis of type, size, end use and region. On the basis of type, the market is bifurcated into direct line heaters and indirect line heaters. On the basis of size, the market is divided into 1 MM BTU, 1.5 MM BTU and 2 MM BTU. On the basis of end use, the market is categorized into oil and gas industry, chemical industry, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by LAMEA.
Major players operating in the global line heaters industry include: Arc Energy., Forum Energy Technologies, Inc., ENERFLEX LTD., Integrated Flow Solutions, Inc., Inclusive Energy Ltd., Surplus Energy., Honeywell International Inc., Allmand Bros., Inc., Sigma Thermal Inc., 12:eleven Production Equipment Inc., and Aspire Energy Resources Inc.