flexible heater market is to reach USD 1,424 million by the end of the forecast period in 2027 from USD 905 million in the historic forecast period that had ended in 2019 at a CAGR of 8.1%.
The sudden outbreak of the COVID-19 virus has led to revising of projected growth rates which will be included in the report.
Competitive Outlook
Minco, Zoppas Industries, Tempco Temperature Measurement Pvt. Ltd, Chromalox, Inc., Honeywell International Inc., Electric Heater Corporation, OMEGA Engineering, Watlow Electric Manufacturing Co., Rogers Corporation, Smiths Group PLC, and Nibe Industrier AB are notable players of the global flexible heater market. Other players which constitute close to 35% of the market are All Flex Flexible Circuits Heaters, MIYO Technology Co., Ltd, Durex Industries, Hotset India Private Limited, Nel Technologies Ltd, Thermo Heating Elements LLC, Holroyd Components, Bucan Electric Heating Devices Inc., Thermocoax, and Delta/Acra.
Manufacturers are joining hands with distributors to increase their market share globally. Recently, TurboFlex Heaters, All Flex, and others have agreed to partner with Digi-Key Electronics for increasing the supply options for flexible heaters for clients.
Market Scope
The global flexible heater market and is expected to reach USD 1,424.6 million by 2023. It was valued at USD 905.1 million in 2017. It is likely to display a CAGR of 8.1% over the forecast period. The increase in battery operated devices and availability of devices with new power range options and customized sizes can drive the market demand. Rising application of heating devices across industries, technologically advanced properties of heaters, and economical prices of custom heaters can work in favor of the market.
But high operational costs of heaters can impede the market growth.
Segmentation
The global flexible heater market has been segmented into type and end user.
By type, the market has been segmented into mica-based, silicone rubber-based, polyimide-based, polyester-based, and others. The silicone rubber-based segment is expected to lead in the global flexible heater market owing to use of heaters in semiconductor systems and electronic appliances.
By end user, the market has been segmented into oil gas, electronics semiconductor, aerospace defense, food beverage, medical, automotive, and others. The electronics semiconductor segment is expected to contribute the most to the market owing to applications in copy machines, ATM machines, handheld scanners, and plasma etch systems.
Regional Analysis
By region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Among the regions mentioned above, APAC is expected to be the dominating region by 2023 owing to a large electronics and semiconductor industry base. Moreover, the growth in the demand for flexible heaters in this region is due to the high manufacturing of medical devices, instruments of measurement, aerospace, and aviation equipment, and food processing devices. Various companies in the semiconductor and electronics industry are implementing flexible heaters in the kitchen appliances, such as refrigerators, to channel the heat flow properly. The higher economic growth of countries in Asia provides an additional advantage for the MNC’s to set-up their manufacturing base in this region.
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