The Electric Heat Tracing Global Market Report 2023, provides comprehensive information on the electric heat tracing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032
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The global electric heat tracing market is poised for expansion, with the market size projected to increase from $2.25 billion in 2022 to $2.43 billion in 2023, reflecting a notable compound annual growth rate (CAGR) of 8%. However, the recent Russia-Ukraine conflict has temporarily impeded the global economic recovery following the COVID-19 pandemic, particularly in the short term. This geopolitical tension has resulted in economic sanctions, surging commodity prices, and supply chain disruptions, consequently driving inflation in the prices of various goods and services. Nonetheless, the global electric heat tracing market is expected to achieve a market size of $3.18 billion by 2027, demonstrating a respectable CAGR of 7%.
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Product development and innovation are gaining popularity as a key trend in the electric heat tracing market. Major market players are introducing innovative electric heat tracing systems that include cutting-edge technologies such as self-regulating, power limiting, parallel constant wattage, series resistance (polymer or mineral), and skin effect tracing. For instance, in June 2021, nVent Electric plc, UK-based electric heat tracing solution provider company, introduced nVent Raychem HTV Heating Cable. The nVent Raychem HTV is used in a newly developed semi-conductive polymer nanocomposite material with improved heat stability. The material has better thermal strength, providing better energy preservation at high temperatures. The cable can operate at temperatures as high as 205°C (400°F) continuously and resist temperatures as high as 260°C (500°F).
The electric heat tracing market is segmented:
1) By Type: Self-Regulating, Constant Wattage, Mineral-Insulated, Skin Effect
2) By Components: Electric Heat Tracing Cables, Power Connection Kits, Control And Monitoring Systems, Thermal Insulation Materials, Other Components
3) By Vertical: Oil And Gas, Chemical, Commercial, Residential, Power And Energy, Food And Beverage, Pharmaceutical, Water And Wastewater Treatment, Other Verticals
4) By Application: Freeze Protection Process And Temperature Maintenance, Roof And Guttering De-Icing, Floor Heating, Other Applications:
North America was the largest region in the electric heat tracing market in 2022.
Top 5 Major Key Players Are:
Thermon Group Holding Inc
Bartec Top Holding GmbH
Danfoss
eltherm GmbH
Emerson Electric Company
Table Of Contents
1. Executive Summary
2. Electric Heat Tracing Market Characteristics
3. Electric Heat Tracing Market Trends And Strategies
4. Electric Heat Tracing Market – Macro Economic Scenario
5. Electric Heat Tracing Market Size And Growth
…….
26. Africa Electric Heat Tracing Market
27. Electric Heat Tracing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Heat Tracing Market
29. Electric Heat Tracing Market Future Outlook and Potential Analysis
30. Appendix
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