9/30/2003 - A new study from Venture Development Corporation (VDC) titled "The North American Market for Electric Heating Elements: Conduction Heating, Convection Heating, Radiant Heating" finds the combined North American market for 23 types of electric heating elements exceeded $1 billion in 2002. With the expectation of slow unit growth and strong price pressure, the overall North American market for these elements is only expected to increase at a 1.6% compound annual growth rate (CAGR) through 2005.
The overall North American markets for electric heating elements is mature, and growth rates on units for the period 2002 through 2005 are forecast in the study at between 0.7% (for tubular element conduction applications) and 7% (for flexible elements), with the median at only 2%.
Included in the study were the following types of electric heating elements:
The largest 2002 shipment level was of tubular elements (see Figure 1), which accounted for about 29% of the total. Shipments of the five largest product categories (tubular, flexible, open coil, glass top range and cartridge) combined accounted for 70% of total shipments.
By product types, the highest growth rate is forecast for flexible heating elements in industrial and other non-consumer/residential applications, at a 6.2% CAGR. At the other extreme, a slight market decline is forecast for tubular elements in conduction consumer appliance and other consumer/residential applications.
A number of factors entered into the North American market forecasts for electric heating elements, including:
Founded in 1971, Venture Development Corporation is a technology research and management consulting firm serving the worldwide industrial automation, instrumentation, electronic components, computing, communications, software and power systems industries.
For further information about "The North American Market for Electric Heating Elements: Conduction Heating, Convection Heating, Radiant Heating" or any other VDC service contact: Marc Regberg, Vice President, 508-653-9000, Ext. 111, firstname.lastname@example.org
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