Electric Heat Tracing - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Electric Heat Tracing Market is accounted for $1.54 billion in 2019 and is expected to reach $3.36 billion by 2027 growing at a CAGR of 10.2% during the forecast period. Rising demand for energy-efficient electric heat tracing systems and low maintenance cost associated with electric heat tracing systems are the major factors driving the market growth. However, devastating effects of overlapping of heating cables is restraining the market growth. Moreover, growing demand for heat tracing systems from various end-user industries and rising adoption of heat tracing systems in power plants would provide ample opportunities for the market growth.
Electric trace heating is the process of enhancing the levels of temperature in pipes, floors, vessels and other infrastructural surfaces with the help of heat tracing cables. This is highly significant in areas where the temperatures can drop significantly and can result in freezing of pipes, vessels and other components in an industry.
Based on type, the self-regulating segment is likely to have a huge demand as self-regulating heating cables are ideal for temperature maintenance and frost-prevention installations because they produce more heat when it is cold and conversely less heat in warm conditions. By geography, North America is going to have a lucrative growth during the forecast period as US and Canada are among the coldest countries in the world. Electric heat tracing finds increasing adoption in these countries for applications such as freeze protection, roof & gutter de-icing, and floor heating.
Some of the key players profiled in the Electric Heat Tracing Market include Bartec, Briskheat Corporation, Chromalox Inc, Danfoss, Drexan Energy Systems, eltherm GmbH, Emerson Electric Co, Heat Trace Products LLC, Parker-Hannifin, Pentair plc, QMax Industries Inc, Spirax-Sarco Engineering plc, Technitrace, Thermon Inc and Warmup Plc.
• Up to 100°C
• 101°C to 250°C
• Above 250°C
System Components Covered:
• Heating Tracing Cables
• Insulation Material
• Power Connection Kit
• Monitoring and Control Systems
• Constant Wattage
• Mineral Insulated
• Parallel Constant Watt Heating Cable
• Power-Limiting Heating Cable
• Series Constant Watt Heating Cables
• Skin Effect
• Floor Heating
• Freeze Protection
• Process Temperature Maintenance
• Roof & Gutter De-Icing
• Viscosity Control
End Users Covered:
• Food & Beverages
• Oil & Gas
• Power, Energy & Heavy Industry
• Water & Wastewater Management
• Other End Users
Sales Channels Covered:
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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