Portland, OR, Jan. 09, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bolt heaters market garnered $179.4 million in 2021, and is estimated to generate $269.4 million by 2031, manifesting a CAGR of 4.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $179.4 million |
| Market Size in 2031 | $269.4 million |
| CAGR | 4.2% |
| No. of Pages in Report | 259 |
| Segments covered | Type, end use, and region. |
| Drivers |
|
| Opportunities | The development of renewable energy from wind and hydropower The growing investments made by the key industry players in the creation of several cutting-edge technologies |
| Restraints | High Cost |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic led to the temporary but long-term haltof manufacturing and construction activities in major economies such as the U.S., Canada, Germany, China, and India, thereby negatively impacting the growth of the global bolt heaters market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- However, with the increase in disposable income, decline in family sizes, and population growth, the demand for bolt heaters is likely to increase in the post-pandemic.
The research provides detailed segmentation of the global bolt heaters market based on type, end-use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the gas bolt heaters segment held the highest share in 2021, accounting for more than half of the global bolt heaters market, and is expected to continue its leadership status during the forecast period. However, the flexible bolt theaters segment is expected to register the highest CAGR of 4.5% from 2022 to 2031.
Based on end use, the oil and gas segment accounted for the highest share in 2021, contributing to more than one-third of the global bolt heaters market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the others segment is expected to manifest the highest CAGR of 5.1% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global bolt heaters market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.8% during the forecast period.
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Leading market players of the global bolt heaters market analyzed in the research include Indeeco, Cetal, Big Chief Inc., Bucan Electric Heating Devices Inc., Heatrex, Vulcanic TEE, Elektrotermija, Durex Industries, National Plastic Heater, Sensor and Control Inc., and Protherm Industries.
The report provides a detailed analysis of these key players of the global bolt heaters market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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