Flexible Heater Market
New product launches and acquisitions to widen their global presence and increase their share in the global Flexible Heater Market
The flexible heater market is estimated to be USD 945 million in 2018 and is expected to reach USD 1,356 million by 2023, at a CAGR of 7.5% during 2018–2023. The factors such as a wide range of applications and rising demand from several industries are driving the growth of the flexible heater market. 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.
The key players such as NIBE Industrier (Sweden), Honeywell International (US), Omega Engineering (US), Watlow Electric Manufacturing (US), and Smiths Group (UK) have adopted growth strategies such as new product launches and acquisitions to widen their global presence and increase their share in the global flexible heater market.
NIBE Industrier is one of the leading companies in the global flexible heater market; its leading position can be attributed to its constant focus on acquiring prominent companies in the heating solutions market such as Hemi Heating, BriskHeat, Gaumer Company, HT S.p.A., Hotwatt, Heatron, and Marathon Heater in the last 3 years. For instance, the company strategically acquired Gaumer in December 2017 to become the leading electric heating systems supplier in North America. The combination of Gaumer's product development activities and NIBE's presence in Europe is expected to lead them to significant synergies and growth opportunities in the global flexible heater market. The acquisition of HT S.p.A. in May 2017, added another well-known brand to its European Element business, providing cost synergies and commercial advantages to the NIBE Group. Similarly, the acquisition of BriskHeat and Heatron represents another key step from NIBE to become the leading electric heating supplier worldwide. The company offers various innovative products through its 3 business areas: Climate Solutions, Element, and Stoves. In January 2018, NIBE acquired BriskHeat, which further became a part of NIBE Element business segment. Founded in 1949 and annual sales of USD 39 million, BriskHeat has ~650 employees and manufactures cloth-heating jackets for the semiconductor, composite, petrochemical, plastic, and consumer product industries.
Honeywell operates in 4 reportable business segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. It offers a range of flexible heaters—including 78000 Series, C3400 Series, C3100 Series, and C3200 Series—through its Sensing and Internet of Things division. These heaters have a wide range of application in industries such as medical, electronics, and telecommunications. Furthermore, the flexible heaters are customizable and available in different shapes such as flat, molded-to-shape, and spiral wrap, and are transparent, composite, and support high-temperature configurations. Honeywell flexible heaters have been tested to meet standard steam autoclave sterilization practices commonly used in medical applications that utilize equipment such as respirators, ventilators, dialysis machines, infusion machines, sterilizers, and nebulizers. These heaters meet Honeywell's high-performance standards for electrical integrity and functionality irrespective of the multiple exposures to extreme steam temperatures and soakings.
Omega Engineering is a provider of products for measurement and control of temperature, humidity, pressure, strain, force, flow, level, pH, and conductivity. The company's product portfolios are categorized as temperature; pressure, strain and force; flow and level; automation; electric heaters; data acquisition; pH and conductivity; test and measurement; process control; power monitoring; environmental; lab equipment; automation; wireless transmitters and receivers; and sanitary sensors. Under the category of electric heaters, the company provides flexible heaters such as silicon and polyimide film flexible heaters; tape and rope heaters; flexible heating blankets; and drum heaters and tank heaters.
Spectris acquired Omega Engineering in 2011, and it continues its operations under the Industrial Controls business segment of Spectris. A wide range of flexible heater offerings by Omega makes it a leading player in the global flexible heater market. The company invested significantly in enterprise resource planning and process improvement in 2016 and 2017. A new organizational structure and management team was put in place, and the focus was to redesign the operational processes and improve customer service by improving product availability, shortening lead times, and increasing on-time delivery. Therefore, the operational improvements at Omega uplifted its sales performance and resulted in higher gross margins in 2017.
Flexible Heater Market by Type (Silicone Rubber, Polyimide, Polyester, Mica), Industry (Electronics & Semiconductor, Medical, Aerospace & Defense, Automotive, Food & Beverages, Oil & Gas), and Geography - Global Forecast to 2023
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