Global Electric Heat Tracing Market
Posted: Feb 28, 2019
Global Electric Heat Tracing Market is expected to grow from USD 2.26 Billion in 2016 to USD 3.37 Billion by 2024, at a CAGR of 5.15% between 2017 and 2024. (Detailed analysis of the market CAGR is provided in the report)
Global Electric Heat Tracing Market is segmented on the basis of Type, Application, Vertical, and Geography. Electric heat tracing systems are used to maintain the temperature of the pipes and vessels. In this system an electrical heating element is placed along with the length of the pipe, the pipe is usually covered with thermal insulation to retain any heat losses. The major objectives achieved with an electrical heat tracing systems are freeze protection, temperature maintenance, gutter & roof de-icing, and anti-cavitation purpose. This systems constantly monitors and maintains the temperature of the pipe.
Global Electric Heat Tracing Market
Growing demand for energy-efficient electric heat tracing systems, rise in the adoption of electric heat tracing systems over conventional systems, and low maintenance cost is the major factors driving the growth of Global Electric Heat Tracing Market.
Further key findings from the report:
- From the vertical segment, the oil & gas vertical is expected to lead the Global Electric Heat Tracing Market between 2017 and 2024. And is expected to experience a CAGR of over 4.3% during the forecast period. Heat tracing is used in oil & gas applications for processing, transportation, and freeze protection of energy
- Among Geographical regions, North America accounted for the largest share of the Global Electric Heat Tracing Market in 2016 and is anticipated to dominate the global Electric Heat Tracing Market during the forecast period. The US is expected to be the major contributing economy in North America region. Presence of key players and cold countries in this region is anticipated to be the key factor fueling the growth of the Global Electric Heat Tracing Market in this region
- By type, self-regulating market accounted for the largest share of the Global Electric Heat Tracing Market in 2016 and is expected to dominate the market during the forecast period. Self-regulating cables are energy-efficient compared to other cable types, as they increase power as the temperature drops and decreases power as temperature rises, and they are intrinsically safe
- From the application segment, process temperature maintenance and freeze protection applications are expected to witness the highest CAGR during the forecast period. The wide use of freeze protection in applications such as oil & gas, pulp & paper, chemicals, commercial, and residential is the major contributing factors for the market growth.
- Analysis of competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Global Electric Heat Tracing Market
- The objective of the report is to provide a detailed analysis of the Global Electric Heat Tracing Market on the basis of type, application, vertical, and geography
- Complete quantitative analysis of the industry from 2017 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities
- In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
- Analysis of the Global Electric Heat Tracing Market with respect to individual growth trends, prospects, and contribution to the total market
- Segment wise business performance detailed in a report will be worthwhile for the organizations willing to enhance its business
- Provides detailed information regarding the major factors influencing the growth of the Global Electric Heat Tracing Market (drivers, restraints, opportunities, and challenges)
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Years that have been considered for the study are as follows:
- Base Year – 2016
- Estimated Year – 2017
- Forecast Period – 2017 to 2024
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get the unbiased idea of the market. This exercise was done at the country level to get the fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the global market value for Global Electric Heat Tracing Market.
Key Players Operating In Electric Heat Tracing Market:
- Anhui Huanrui
- SST Group
- Drexma Industries
Key Target Audience:
- Electric heat tracing system manufacturers and suppliers
- Analysts and strategic business planners
- End users of electric heat tracing systems
- Research institutes and organizations
- Government bodies, venture capitalists, and private equity firms
- Market research and consulting firms
- Enterprise data center professionals
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The Scope of the Global Electric Heat Tracing Market:
Research report categorizes the Global Electric Heat Tracing Market based on type, application, vertical, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Global Electric Heat Tracing Market with key developments in companies and market trends.
Global Electric Heat Tracing Market, By Type:
- Constant Wattage
- Skin Effect
Global Electric Heat Tracing Market, by Application:
- Floor Heating
- Viscosity Control
- Roof and Gutter
- Freeze Protection
- Process Temperature Maintenance
Global Electric Heat Tracing Market, By Vertical:
- Oil & Gas
- Food & Beverages
- Water & Wastewater Management
- Power & Energy
Global Electric Heat Tracing Market, By Geography:
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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