PUBLISHER: The Business Research Company | PRODUCT CODE: 1425472
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425472
Flexible Heater Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flexible heater market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flexible heater? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The flexible heater market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Flexible heaters are heaters that can be bent or flexed to conform to the curves of the surface to be heated. They are wire-wrapped, chemically etched, or screen-printed, providing versatility for various applications where heat supply is needed. These heaters possess characteristics that make them resistant to chemicals and moisture, and they are known for their durability, accuracy, and efficiency.
The main types of flexible heaters include silicone rubber-based, polyimide-based, polyester-based, mica-based, and others. Silicone rubber-based flexible heaters consist of resistance wire wound on a fiberglass cable for support, while the resistance element in etched foil heaters is formed of a thin metal foil. These flexible heaters are distributed through various channels such as retail, supermarkets, online platforms, offline stores, and others. They find applications in diverse industries, including electronics and semiconductors, medical, aerospace and defense, food and beverages, automotive, oil and gas, mining, and more.
The flexible heater market research report is one of a series of new reports from The Business Research Company that provides flexible heater market statistics, including flexible heater industry global market size, regional shares, competitors with flexible heater market share, detailed flexible heater market segments, market trends, and opportunities, and any further data you may need to thrive in the flexible heater industry. This flexible heater market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The flexible heater market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period for flexible heaters can be attributed to several factors, including trends in miniaturization, growth in the automotive industry, increased energy efficiency requirements, the evolution of consumer electronics, and advancements in food and beverage processing. These factors collectively contributed to the development and adoption of flexible heaters during the specified historical period.
The flexible heater market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period for flexible heaters can be attributed to factors such as advanced materials development, the influence of e-commerce and the packaging industry, the expansion of flexible electronics, the adoption of environmental monitoring solutions, and the growth of the aerospace sector. Major trends expected in the forecast period include the proliferation of wearable technology, advancements in consumer electronics, innovations in material science, the integration of smart heating solutions, and advancements in printing technologies. These trends signify the ongoing evolution and diverse applications of flexible heaters in various industries.
The surge in automobile demand is anticipated to drive the growth of the flexible heater market in the foreseeable future. Flexible heaters play a crucial role in vehicles, preventing ice formation on side view mirrors and serving as seat warmers, steering wheel heaters, and window defrosters in cars, buses, and trucks operating in extremely cold climates. The escalating demand for automobiles, especially electric vehicles, significantly contributes to the increased need for flexible heaters. For instance, in 2021, the International Energy Agency reported a substantial surge in electric car sales, surpassing 6.6 million units and accounting for nearly 9% of the global automotive market. Consequently, the rising demand for automobiles, including electric vehicles, is poised to fuel the growth of flexible heaters in the coming years.
The expansion of the consumer electronics market is expected to drive the growth trajectory of the flexible heater market. Consumer electronics encompass a broad spectrum of electronic devices designed for personal use, encompassing entertainment, communication, productivity, and daily convenience. Flexible heaters find extensive applications within consumer electronics to ensure precise temperature control and prevent issues like condensation, maintaining optimal operating temperatures for batteries, displays, sensors, and other components in smartphones, tablets, laptops, and wearables. This application enhances the reliability and performance of these devices, especially in environments with variable temperatures, ultimately leading to enhanced user experiences and prolonged device longevity. According to projections from Oberlo in 2023, the consumer electronics market is set to achieve a revenue of $603 billion, showing a substantial 11.9% annual growth, with expectations of reaching $230 billion by 2027, accounting for 24.2% of the industry's total revenue. Hence, the consumer electronics market's expansion is a driving force behind the flexible heater market's growth.
Technological advancements stand out as a significant trend shaping the flexible heater market landscape. Key industry players are focused on driving technological innovations to maintain their competitive edge. For instance, in July 2021, Toray Industries Inc., based in Japan, introduced the 2700 Prepreg System, a high-performance flexible heater designed to withstand high temperatures and exhibit low water absorption. Developed using proprietary resin technology, this product meets stringent aircraft structural design criteria, allowing the production of high-quality, high-volume composite parts at an affordable cost. Tailored for applications exposed to extreme heat and humidity, the 2700 Prepreg System complies with aerospace structural requirements, offering adjustable cure temperatures and superior compression characteristics.
The mergers and acquisitions (M&A) landscape is a strategic avenue major companies often utilize to fortify their market positions and expand their product offerings. Two such instances include Watlow's acquisition of Eurotherm and Storskogen's acquisition of Flexi Heater. In February 2022, Watlow, a prominent US-based designer and manufacturer of comprehensive industrial thermal systems, acquired Eurotherm, a UK-based provider of a wide range of thermal products such as temperature controllers and heaters. This acquisition, conducted for an undisclosed amount, was aimed at bolstering Watlow's portfolio with innovative thermal products and cutting-edge technologies. Watlow's strategic intent behind this acquisition is to leverage Eurotherm's offerings to enhance its customers' competitive edge by providing them with advanced and diverse thermal solutions.
In November 2021, Storskogen, a Sweden-based investment management firm, acquired Flexi Heater, a company based in Sweden specializing in the manufacturing of surface and flexible heaters. The acquisition, conducted for an undisclosed sum, was aimed at complementing the product line of AMV, a subsidiary of Storskogen. By integrating Flexi Heater's patented products into AMV's existing range, Storskogen aims to leverage Flexi Heater's expertise to enhance AMV's capabilities in producing mobile surface heating solutions. Additionally, this acquisition positions Storskogen to further develop and advance Flexi Heater's leading products in the domain of mobile surface heating.
Major companies operating in the flexible heater market report are Honeywell International Inc., Nibe Industrier AB, OMEGA Engineering Inc., Watlow Electric Manufacturing Company, Smiths Group PLC, All Flex Flexible Circuits LLC, Chromalox Inc., Zoppas Industries S.P.A., Rogers Corporation, Minco Products Inc., Birk Manufacturing Inc., Bucan Electric Heating Devices Inc., Durex Industries Corp., Holroyd Components Ltd., Sinoma International Engineering Co.Ltd., Tempco Electric Heater Corporation, Thermo Heating Elements LLC, Rama Corporation, Heatron Inc., Backer Marathon Inc., Space-Ray Inc., Tutco-Farnam Custom Products, Backer Hotwatt Inc., Delta-Therm Corporation, Thermal Circuits Inc., BriskHeat Corporation, Hotset America Corp., Hi-Heat Industries Inc., Kapton Heaters Inc., Flexelec Ltd., Calorique LLC, Hillesheim GmbH, Elmatic (Cardiff) Ltd., Kuhlmann Electro-Heat A/S, Zhejiang Zhongmin Electrical Appliance Co. Ltd.
Asia-Pacific was the largest region in the flexible heater market in 2023. The regions covered in the flexible heater analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the flexible heater market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
The flexible heater market consists of sales of butyl-rubber-based heaters and wired heaters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.