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“Flexible heater market to grow at 7.5% CAGR during 2018–2023”
The flexible heater market is expected to grow from USD 945 million in 2018 to USD 1,356 million by 2023, at a CAGR of 7.5% from 2018 to 2023. The factors such as a wide range of applications and rising demand from several industries are driving the growth of the flexible heater market. Additionally, the flexible form factor, technological advancements, launch of innovative products, and high adoption of flexible heaters in medical applications are also driving the market toward significant growth.However, the high operational cost of flexible heaters is restraining the growth of this market.
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“Silicone rubber-based flexible heater market to grow at highest CAGR during 2018–2023”
Silicone rubber-based flexible heaters are used in semiconductor systems (plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems) and electronics appliances (refrigeration equipment, coffeemaker, and wax maker). The growing demand for such systems is expected to drive the silicone rubber-based flexible heater market toward the highest growth during the forecast period.
“Electronics and semiconductor industry to account for major share in market during 2018–2023”
Among various industries, the electronics and semiconductor is expected to have the largest market share and exhibit the highest CAGR in the flexible heater market during the forecast period. In this industry, flexible heaters are used in plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems, copy machines, LCD screen preheating, ATM machines, semiconductor test modules, handheld scanners, and various other equipment. These heaters also find applications in electronics such as in refrigeration equipment, coffeemaker, wax-maker, and various other electronic products. The increase in demand for such products is expected to drive the market for flexible heaters used in the electronics and semiconductor industry.
“Flexible heater market in APAC to grow at highest CAGR during forecast period”
The flexible heater market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC region consists of China, Japan, India, and rest of APAC countries. The growing demand for flexible heaters in medical equipment, analytical instruments, avionics and defense systems, semiconductor processes, and commercial food equipment is driving the growth of the flexible heater market in APAC. Moreover, electronics, semiconductor, and automotive are the leading industries in APAC, and the medical devices market along with food equipment market will grow the fastest in the coming years. The economic growth of the region, along with the advantage of lower operating costs in countries such as China and India, is expected to drive the demand for flexible heaters in APAC. In addition, growth in this region is being propelled by manufacturers shifting production toward the region due to the availability of raw materials and labor, and increasing demand.
In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with officials from the key players.
The breakup of the profile of primaries has been given below:
- By Company Type: Tier 1 – 20%, Tier 2 – 35%, and Tier 3 – 45%
- By Designation: C-Level Executives – 15%, Directors – 45%, and Others – 40%
- By Region: Americas – 30%, Europe – 40%, APAC – 25%, and RoW – 5%
Companies that provide a range of customized solutions are expected to emerge as the game changers in this market. The key players in the flexible heater market profiled in the report are as follows:
1. NIBE Industrier AB (Sweden)
2. Honeywell International (US)
3. Omega Engineering (US)
4. Watlow Electric Manufacturing (US)
5. Smiths Group plc (UK)
6. Chromalox (US)
7. Rogers Corporation (US)
8. Minco Products (US)
9. Zoppas Industries (Italy)
10. All Flex Flexible Circuits (US)
- The report covers the flexible heater market segmented on the basis of type, industry, and geography. It also discusses drivers, restraints, opportunities, and challenges pertaining to the market as well as the analysis of the value chain of flexible heaters.
- The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW. It also analyzes the competitive developments such as mergers and acquisitions, and product launches carried out by key players to grow in the market.
Reasons To Buy the Report:
- This report includes statistics pertaining to the flexible heater market, by type, industry, and geography, along with the market size of each subsegment.
- Major drivers, restraints, opportunities, and challenges for the market have been provided in detail in this report.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their company’s position in the market.
- The competitive landscape section includes competitor ecosystem and recent development strategies adopted by the key players in the market, such as product launches and developments, partnerships, and mergers and acquisitions.