Product Code: ETC050827 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Singapore has seen an increase in the demand for heating elements over the past few years. The market is expected to continue growing during the forecast period of 2020-2026, driven by a range of factors such as increasing electricity prices, rising demand from industrial and consumer markets, government initiatives for energy efficiency, technological advancements in efficient heating systems and growing residential construction sector. This market research report provides a comprehensive analysis of the Singapore Heating Elements Market with detailed segmentation by type, application and region.
Increasing Electricity Prices: Rising electricity costs have led to an increased focus on energy efficiency strategies in order to reduce electricity bills. This has resulted in increased adoption of various technologies like intelligent controls for HVAC systems which are powered by heating elements that offer optimum performance while consuming less energy.Growing Demand from Industrial & Consumer Markets: Significant growth in end user industry such as automotive manufacturing due to economic expansion will fuel growth for manufacturers offering electric components including heating elements across different industries. Moreover, emerging trends such as miniaturization & lightweighting will also drive product penetration into new applications within these markets leading to further revenue generation opportunities within this space.Government Initiatives for Energy Efficiency: Governments across countries are introducing stringent regulations related to energy conservation along with installation subsidies which create favorable conditions for investment in efficient equipment including high quality heaters & controllers powered by durable resistive materials used as part of their composition thus stimulating sales growth across this segment over the coming years.
High Installation Cost :The cost associated with installing various types of heater products can be high due to its complexity especially when replacing old conventional models that require extensive wiring. This can act as key deterrent towards boosting overall uptake rate among potential consumers who prefer convenience. Moreover , most parts required need technical expertise making it difficult availability at local level where trained personnel may not be present resulting into added expenses.
Prominent players operating in the Singapore heating elements market include Chromalox, Inc., Emerson Electric Co., Watlow Electric Manufacturing Company, Zoppas Industries S.p.A., Heateflex Corporation, NIBE Industrier AB, Kele Companies Inc., Defelsko Corporation, Backer Marathon Group SE & Co KG and Pentair plc among others. These players are adopting various strategies such as product launches and expansions to stay competitive in the market. For instance, In April 2018, Chromalox launched advanced electric heating solutions for low-volume medical equipment manufacturers that helps them reduce costs and speed up product development cycles by providing custom control capabilities with standard components
Despite majority production units having resumed operations post COVID - 19 pandemic , the global supply chain disruptions caused due disruption affected shipments arrivals delaying project timelines adversely affecting business prospects temporarily until market equilibrium returns back again.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Singapore Heating Elements Market Overview |
3.1 Singapore Country Macro Economic Indicators |
3.2 Singapore Heating Elements Market Revenues & Volume, 2020 & 2030F |
3.3 Singapore Heating Elements Market - Industry Life Cycle |
3.4 Singapore Heating Elements Market - Porter's Five Forces |
3.5 Singapore Heating Elements Market Revenues & Volume Share, By Product, 2020 & 2030F |
3.6 Singapore Heating Elements Market Revenues & Volume Share, By End-Users, 2020 & 2030F |
4 Singapore Heating Elements Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Singapore Heating Elements Market Trends |
6 Singapore Heating Elements Market, By Types |
6.1 Singapore Heating Elements Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Singapore Heating Elements Market Revenues & Volume, By Product, 2020-2030F |
6.1.3 Singapore Heating Elements Market Revenues & Volume, By Immersion Heaters, 2020-2030F |
6.1.4 Singapore Heating Elements Market Revenues & Volume, By Tubular Heaters, 2020-2030F |
6.1.5 Singapore Heating Elements Market Revenues & Volume, By Circulation Heaters, 2020-2030F |
6.1.6 Singapore Heating Elements Market Revenues & Volume, By Band Heaters, 2020-2030F |
6.1.7 Singapore Heating Elements Market Revenues & Volume, By Strip Heaters, 2020-2030F |
6.2 Singapore Heating Elements Market, By End-Users |
6.2.1 Overview and Analysis |
6.2.2 Singapore Heating Elements Market Revenues & Volume, By Chemical & Plastics Industry, 2020-2030F |
6.2.3 Singapore Heating Elements Market Revenues & Volume, By Pharmaceutical Industry, 2020-2030F |
6.2.4 Singapore Heating Elements Market Revenues & Volume, By Transportation, 2020-2030F |
6.2.5 Singapore Heating Elements Market Revenues & Volume, By Appliances, 2020-2030F |
7 Singapore Heating Elements Market Import-Export Trade Statistics |
7.1 Singapore Heating Elements Market Export to Major Countries |
7.2 Singapore Heating Elements Market Imports from Major Countries |
8 Singapore Heating Elements Market Key Performance Indicators |
9 Singapore Heating Elements Market - Opportunity Assessment |
9.1 Singapore Heating Elements Market Opportunity Assessment, By Product, 2020 & 2030F |
9.2 Singapore Heating Elements Market Opportunity Assessment, By End-Users, 2020 & 2030F |
10 Singapore Heating Elements Market - Competitive Landscape |
10.1 Singapore Heating Elements Market Revenue Share, By Companies, 2023 |
10.2 Singapore Heating Elements Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |