Global Electric Heat Tracing Report 2020: Market Accounted for $1.54 Billion in 2019 and is Expected to Reach $3.36 Billion by 2027
Dublin, Nov. 18, 2020 (GLOBE NEWSWIRE) -- The "Electric Heat Tracing - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
Global Electric Heat Tracing market 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.
What the 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
Scope of the Report
Methods Covered:
Impedance
Induction
Resistive
Temperatures Covered:
Up to 100C
101C to 250C
Above 250C
System Components Covered:
Heating Tracing Cables
Insulation Material
Power Connection Kit
Monitoring and Control Systems
Types Covered:
Constant Wattage
Mineral Insulated
Parallel Constant Watt Heating Cable
Power-Limiting Heating Cable
Self-Regulating
Series Constant Watt Heating Cables
Skin Effect
Applications Covered:
Floor Heating
Freeze Protection
Process Temperature Maintenance
Roof & Gutter De-Icing
Viscosity Control
End Users Covered:
Chemicals
Commercial
Food & Beverages
Oil & Gas
Pharmaceuticals
Power, Energy & Heavy Industry
Residential
Water & Wastewater Management
Other End Users
Sales Channels Covered:
Distributor
Direct Sales
Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/1zvmyt
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