Quadintel published a recovery-based report for Global Electric Heat Tracing Market that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2030) and develops reliable and approximative timeline estimations up to 2030.
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Global Electric Heat Tracing Market is valued at approximately USD 1.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2021-2027.
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Electric heat tracing is a system used to maintain or to boost the temperature of pipes and vessels by the usage of heat tracing cables. This system includes several components such as a power connection kit, electric heat tracing label, electric heat tracing cable, thermostat and thermal insulation. The rising adoption of electric heat tracing systems instead of conventional steam tracing systems is due to low maintenance costs and increasing investment in developing oil/gas pipeline infrastructure. For instance, the Indian Ministry of Petroleum and Natural Gas has invested approximately USD 118 billion in October 2019 with the aim of oil & gas exploration, along with the setting-up of natural gas infrastructure. However, devastating effects of overlapping heating cables impede the growth of the market over the forecast period of 2021-2027. Also, the growing demand for heat tracing systems from various end-user industries such as chemical, power & energy, oil & gas, is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Electric Heat Tracing market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to incessant snowfall and cold weather is propelling the needs for the electric heat tracing systems as well as increasing penetration of the market in various applications such as roof & gutter de-icing, freeze protection and floor heating is gaining huge traction among both residential and commercial sector. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027. Factors such as the growth of the oil & gas industry in the nations like India, South Korea, China, Japan, and Australia would create lucrative growth prospects for the Electric Heat Tracing market across the Asia-Pacific region.
Major market players included in this report are:
Anhui Huanrui Heating Manufacturing Co., Ltd.
Drexan Energy Systems, Inc.
Drexma Industries Inc.
Emerson Electric Company,
Parker-Hannifin Corporation
QmaxTest Research Corporation
Heat Trace Products, LLC.
Ives Equipment, Inc.
Danfoss A/S
Thermon
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Self-Regulating
Constant Wattage
Mineral Insulated
Skin Effect
By Application
Freeze Protection & Process Temperature Maintenance
Floor Heating
Roof & Gutter De-Icing
Others
By Vertical
Oil & Gas
Chemicals
Commercial
Residential
Power & Energy
Food & Beverages
Pharmaceuticals
Water & Wastewater Management
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Table of content
Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
Some of the Key Questions Answered in this Report:
● What is the Market dimension at the regional and country-level?
● What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
● What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
● Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
● What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
● Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
● What targeted method and constraints are keeping the Market?
● What are the distinct sales, marketing, and distribution channels in the world industry?
● What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
● What are the key market tendencies impacting the increase of the Market?
● Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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