Thermotech Systems

What Thermotech Systems does

Thermotech Systems Limited is a privately held Indian manufacturer of industrial process heating equipment, founded in 1988 and headquartered in Ahmedabad, Gujarat. The company designs, engineers, and supplies a broad portfolio of thermal equipment — thermic fluid heaters (up to 380°C, 20 MM KCal/hr, ~93% efficiency in the TSH Series), hot water generators (up to 225°C), direct- and indirect-fired hot air generators (up to 400°C), API 560-compliant fired heaters and process furnaces (up to 60 MW), API 12K-compliant indirect water bath heaters for upstream Oil & Gas, and vertical gasification plants for waste-to-energy. Core technologies include multi-pass helical coil configurations, fluidized bed combustion (FBC), and PLC/SCADA-integrated burner and control systems, with ASME-stamped coils available on request.

The company sells primarily through direct enterprise sales and EPC/turnkey contracts to process-industry buyers, targeting Oil & Gas (refining, upstream, thermal cracking), chemicals and specialty chemicals (polymerization, crystallization, evaporation), plywood/MDF, latex/rubber, textiles, food & beverage, pharmaceuticals, paper, and paint. Pricing is project-specific and quote-based, with revenue generated from one-time equipment sales, EPC services, and recurring spare parts and after-sales support. Named enterprise customers include Shell, BASF, IFFCO, and Godrej, supported by 35+ years of operating history, 2,000+ completed projects, and a claimed cumulative base of 3,200+ clients.

The business is family-led, with six Shah-family directors covering Finance, Production, Marketing & Sales, Technical, and HR functions. Operations are conducted from a single GIDC Vatva manufacturing facility in Ahmedabad, and the company has begun positioning around sustainability and waste-to-energy solutions as a new growth vertical.

Name

Thermotech Systems

Legal name

Thermotech Systems Limited

Website

https://thermotechsystems.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Thermotech Systems is an Indian manufacturer of industrial process heating equipment — thermic fluid heaters, hot air and water generators, API 560 fired heaters, and gasification plants — sold via EPC and turnkey contracts to oil & gas, chemicals, and process-industry buyers globally.

Ownership category

akta.pro rank

Product category

Industrial Heating Equipment

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Industrial Process Furnace and Oven Manufacturing (333994), Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), High-Temperature Process Heat Electrification (E-Boilers, E-Furnaces, Induction, Plasma) (EUABAJAA)

Keywords

• Industrial heating equipment
• Process heating systems
• Thermic fluid heaters
• Fired heater manufacturing
• Gasification plants

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Industrial Heating Equipment Sales: Sale of industrial heating equipment including Thermic Fluid Heaters, Hot Water Generators, Hot Air Generators, Fired Heaters, Indirect Water Bath Heaters, and Gasification Plants. Equipment is customized to client specifications.
2. EPC and Turnkey Solutions: Comprehensive Engineering, Procurement, and Construction services and turnkey solutions for heating systems. Includes on-site support for erection and commissioning.
3. Spare Parts and After-Sales Support: Reliable online service support and spare backup support for installed equipment. Staff training on operations and maintenance.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Thermotech Systems manufactures industrial process heating equipment including thermic fluid heaters (up to 380°C), hot water generators, hot air generators, indirect water bath heaters, API 560 fired heaters, and gasification plants. The company provides EPC and turnkey solutions covering design, customization, on-site erection, commissioning, staff training, and after-sales support for industrial customers.

Product overview

Thermotech Systems is an industrial heating equipment manufacturer offering a comprehensive portfolio of heating solutions. The core product line includes Thermic Fluid Heaters (up to 380°C), Hot Water Generators (up to 225°C), Hot Air Generators (direct and indirect-fired, up to 400°C), Indirect Water Bath Heaters for Oil & Gas applications (API 12K compliant), and API 560 Fired Heaters/Process Furnaces (up to 60 MW). The company also offers Gasification plants for waste-to-energy conversion and green energy sustainability solutions. Products are available in various fuel configurations (solid, liquid, and gas-fired) and serve diverse industries including Oil & Gas, Petrochemicals, Chemicals, Textiles, Food & Beverage, Pharmaceuticals, Plywood/MDF, and Rubber. The company provides EPC and turnkey solutions along with installation, commissioning, and training services.

Differentiator

Problem solved

Functional benefit

Products and services

• Thermic Fluid Heater Industrial heating system that heats thermic fluid up to 380°C at near atmospheric pressure for industrial process heating applications. Available in horizontal and vertical models with solid fuel or liquid/gas fuel variants, capacity up to 20.0 MM KCal/hr with efficiency up to 93%.
• Hot Water Generator Pressurized hot water heating system operating up to 225°C using a closed-loop pressurized system with water as the heat exchange medium. Available in solid fuel and liquid/gas fuel variants with capacity up to 20.0 MM KCal/hr for industrial applications.
• Hot Air Generator Industrial heating system for generating high-temperature hot air. Available in direct-fired FBC configuration (up to 400°C, 90% efficiency) and indirect-fired shell-and-tube configuration (up to 280°C, 85% efficiency) for processes requiring high-temperature air.
• Indirect Water Bath Heater Fire tube-style heater for Oil & Gas upstream processes, using water-glycol mixtures as the heating medium. API 12K compliant, with capacity up to 6.0 MM KCal/hr and outlet temperatures up to 121°C (250°F).
• API 560 Fired Heater Process heater for petrochemical and Oil & Gas industries for heating hydrocarbons, process fluids, and feedstocks. API 560 compliant, capacity up to 60 MW, temperatures up to 380°C, efficiency 92%.
• Process Furnace Box-type or cylindrical fired heater for process heating applications featuring low NOx or ultra-low NOx burners, radiant and convective sections, and optional air pre-heaters for high efficiency.
• Gasification Plants Controlled partial oxidation system converting carbonaceous materials into producer gas. Integrated system with fuel handling, gasification, gas cleaning, producer gas storage, and power generation. Capacity 10 MM KCal/hr with 80% efficiency on NCV.
• Green Energy/Sustainability Solutions Sustainable solutions for green energy generation from renewable sources including waste-to-energy conversion. Develops technologies to utilize biomass, municipal solid waste, and industrial waste for producing green energy, green chemicals, and achieving net zero emissions.

Quantifiable outcome

• Up to 93% efficiency for thermic fluid heaters (TSH Series)
• +5 more outcomes

Named customers4 records

Segments10 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Isgec Heavy Engineering: Indian heavy-engineering EPC company manufacturing process equipment including boilers and heat exchangers for refinery, petrochemical, and fertilizer customers. Comparable as Indian process equipment peer serving overlapping end-markets with a larger engineering/manufacturing footprint.
• Forbes Marshall: Indian steam engineering and process heating specialist serving boilers, thermic fluid heaters, and process automation customers. Comparable Indian-headquartered peer targeting overlapping process industries with broader automation and control offerings.

Broad incumbents

• Thermax Limited: Large Indian process heat and EPC company offering thermic fluid heaters, boilers, and waste-heat recovery systems. Directly comparable product portfolio to Thermotech Systems with a much broader scale and global footprint, making it the most relevant Indian incumbent peer.
• Babcock & Wilcox (B&W): Global industrial boiler and process heating OEM with deep installed base in power generation, refining, and petrochemicals. Comparable at the power boiler/process heater level but operates as a multi-billion-dollar incumbent with extensive service and emissions-control offerings.
• Cleaver-Brooks: Major North American manufacturer of boilers, burners, and process heating systems serving industrial and commercial customers. Comparable at the boiler/heater product level but operates at significantly larger scale with broader packaged boiler portfolio.

Direct peers

• Heatec (Heatec, Inc.): Designs and manufactures process heaters, thermal fluid heaters, and indirect-fired heaters for industrial customers including asphalt plants and chemical processors. Direct competitor in the process heater product category with overlapping thermal-fluid and hot-oil heater offerings.
• Optimus Boilers Pvt. Ltd. Indian manufacturer of industrial boilers and process heating equipment including thermic fluid heaters and hot air generators. Closest head-to-head Indian peer in scale and product mix, competing directly in domestic process-heat RFPs.
• ZEECO: Global designer and manufacturer of process heaters, fired heaters, and combustion equipment for refineries, petrochemical, and gas processing plants. Directly competes with Thermotech's API 560 fired heater and process furnace offerings in the upstream/downstream oil & gas segment.
• Eclipse Combustion (now part of Aavid Thermalloy) / Eclipse - Bohn Biofilter: Manufacturer of industrial burners and process heating equipment serving similar chemical, petrochemical, and refinery end-markets. Comparable in offering process heaters and combustion systems, though historically more burner-focused than full EPC heater integrator.

Emerging players

• Woodard & Curran / Furnace Engineering (Indian process furnace OEMs): Indian process furnace and oven manufacturers serving heat-treatment, forging, and metallurgical customers. Partially overlapping with Thermotech's process furnace offering in the Indian industrial furnace segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/thermotechsys
• LinkedInlinkedin.com/company/thermotech-systems-limited---india

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thermotech Systems