Heating element market growing
Manufacturing and processing applications dominated total shipments of electric heating elements in 2005, according to a recent study by Venture Development Corp. These applications accounted for the largest shipments for the most of the 28 product categories studied. OEM and system integrator applications comprised more than 82% of the 2005 North American heating element market, which totaled ...
Manufacturing and processing applications dominated total shipments of electric heating elements in 2005, according to a recent study by Venture Development Corp. These applications accounted for the largest shipments for the most of the 28 product categories studied.
OEM and system integrator applications comprised more than 82% of the 2005 North American heating element market, which totaled $1,348.1 million. This is a slight increase in share from 2002, and a slight increase also is forecast for 2007. The remaining 18% of shipments were to end-user markets.
Current shipment shares of electric heating elements to North American markets for OEM/System Integrator consumption by major application class (Percent of Dollar Volume) are:
Manufacturing/processing applications accounted for the largest share of OEM/system integrator shipments for most of the product categories under study, but not all product types served this market. While most types of electric heating elements can be used in a multiple applications, some, such as glass top range elements, are designed with only a few markets in mind.
The fastest-growing application is forecast to be the analytical/scientific market, which is expected to grow at 7.3% annually from 2004 to 2007. This compares to the expected total OEM/system integrator market growth rate of 4.5% over that time. Shipments to manufacturing and processing applications are forecast to achieve above-average growth of 4.8% through 2007.
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