Electric Heat Tracing Market
Electric Heat Tracing Market - By Type, By System Component, By Application, By End-Use Industry & Global Region - Market Size, Trends, Share & Forecast 2020-2025Request Sample Request Discount
Electric heat tracing, heat tape or surface heating, is an energy proficient heat tracing system used to maintain, raise or enhance the temperature levels of pipes, floors, vessels and other infrastructural surfaces using heat tracing cables. The heating cables are attached to the product pipe or the equipment surface in order to trace the heat.
Trace heating may be used to protect pipes from freezing, to maintain a constant flow temperature in hot water systems, or to maintain process temperatures for piping that is to transport substances that can solidify at ambient temperatures. Electric trace heating cables are an alternative to steam trace heating where steam is unavailable or unwanted and can be deployed on sewer lines, water, and at precise locations which can suffer from freezing and in areas where the temperatures can drop significantly and can result in freezing of pipes, vessels and other components in an industry.
The global electric heat tracing market is expected to witness growth at a steady CAGR in the years to follow.
The growth of this market is attributed towards major relying factors including; the growing demand for energy-efficient electric heat tracing systems with low maintenance cost, the increasing adoption of electric heat tracing systems over conventional steam tracing systems, expanding compliance requirements in concerned industries, increasing demand for energy proficient self-regulating cables, substitution of steam heat tracing with electric heat tracing systems, rising demand for electric heat tracing systems from numerous industries and the expanding number of industrial and commercial piping systems globally etc.
Moreover, the increasing investments in developing oil/gas pipeline infrastructure coupled with rising environmental, health, and safety concerns for the oil pipeline infrastructure, the growing interest by organizations across various industries on operational improvements to enhance efficiency and continuous adoption of automated monitoring and control solutions worldwide are further expected to propel the growth of global Electric Heat Tracing market.
However, high costs required for installation of these systems due to their complicated designing, concerns relating to the devastating effects of the overlapping of heating cables, the requirement of continuous auditing to identify non-functioning/problematic heat trace and complexities in insulation are some of the factors that hinder this market from growing.
More importantly, this market is expected to decline in 2020 mainly due to the impact of COVID-19.As the oil & gas industry was severely impacted, players in this industry are focusing on reducing CAPEX, which would affect the electric heat tracing market on the negative side.
ELECTRIC HEAT TRACING MARKET SEGMENTATION:
- Constant Wattage
- Mineral Insulated
- Skin Effect
By System Component:
- Heating tracing cables
- Monitoring and control systems
- Power connection kit
- Insulation material
- Freeze Protection & Process Temperature Maintenance
- Floor Heating
- Viscosity Control
- Roof & Gutter De-Icing
By End-Use Industry:
- Oil & Gas
- Power & Energy
- Food & Beverages
- Water & Wastewater Management
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The North American region is the largest regional market for electric heat tracing and is estimated to continue to account for the same position in the next few years atleast. This is due to the rising stringent regulations on industrial safety and high preference of energy efficient heat tracing solutions in the region, the expansion of oil and gas production pipelines and replacement of conventional systems with electric heat tracing systems in the region, increasing adoption of electric heat tracing systems for freeze protection and floor heating applications in various countries and the growing demand for heat tracing systems from chemicals, commercial, and residential industries etc. The U.S and Canada are the major contributors in the region.
The Asia Pacific region is the fastest growing regional market for electric heat tracing owing to the rapid industrialization taking place in various economies in the region and the and expanding oil/gas pipeline infrastructure in the region. The major contributors in the region include India, China and Japan.
FEW KEY PLAYERS IN ELECTRIC HEAT TRACING MARKET:
- NIBE Industrier
- Thermon Inc.
- Emerson Electric Co.
- TRACELEC Group
- Urecon Ltd.
- Parker Hannifin Corp
- Drexan Energy Systems Inc.
- Heat Trace Products
- QMax Industries Inc.
- Spirax-Sarco Engineering
- Anhui Huanrui Heating Manufacturing Co. Ltd.
- SST Group
- Chromalox, Inc.
- Briskheat Corporation
- Drexma Industries Inc.
- Ives Equipment, Inc.
- Emerson Electric Co.
- Pentair plc.
- Warmup Plc.
- Other Players
- In August 2020, nVent Electric, a global leader in electrical connection and protection solutions, announced the launch of two new c-UL-us Listed, modernized heat tracing controllers for fire protection piping and other critical heat tracing applications. The nVent RAYCHEM 465 controller is said to be optimized for fire sprinkler and fire suppression systems, while the nVent RAYCHEM 460 controller is tailored for pipe freeze protection and flow maintenance applications.
- In September 2020, Thermon Group Holdings, Inc,a global leader in industrial process heating, announced the Genesis™ Network, a new solution providing site-wide operational awareness and supervisory control of heat trace systems. With the Thermon Genesis Network, users could save maintenance hours, increase up-time, and could also make upgrades and changes with greater flexibility. The Genesis Network is said to connect heat trace controllers with the control room using wireless communications.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global electrical heat tracing market by the following segments:
- System Component
- End-Use Industry
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Electrical Heat Tracing Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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