Global Electric Heat Tracing (EHT) Market, By Type (Self-Regulating, Constant Wattage, Mineral-Insulated, Skin Effect), Application (Freeze Protection, Viscosity Control, Process Temperature Maintenance, Roof and Gutter, Floor Heating, Others), Vertical (Oil and Gas, Chemicals, Commercial, Residential, Power and Energy, Food and Beverages, Water and Wastewater Management, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Electric Heat Tracing (EHT) Market
Data Bridge Market Research analyses that the electric heat tracing (EHT) market will exhibit a CAGR of 7.00% for the forecast period of 2021-2028 and will reach USD 2.92 billion by 2028.
Heat tracing is the process of increasing temperature levels in pipes, vessels, floors and other infrastructure surfaces using heat tracing cables. This is important where temperatures can drop significantly and can cause vessels, pipes and other industry components to freeze. This method also contributes to optimal process maintenance by helping to maintain a stable base temperature more efficiently than other heating solutions such as insulation or pressurization.
Surge in the adoption of permanent heating solutions and systems by many applicable industries and lower cost associated with the operation and maintenance are the factors that will influence the growth of electric heat tracing (EHT) market. Furthermore, growing preference of these systems over the conventional steam tracing methods and the rising focus of different industries for the adoption of resource-efficient heating systems are the factors that will enhance the market growth rate.
Rise in the demand for heat tracing systems and emerging new markets will further create beneficial opportunities for the growth of the market.
However, high cost involved in the installation of these systems because of their complicated designing and negative impacts of overlapping of heat cables are the factors that will act as restraints for the growth of electric heat tracing (EHT) market. Constraints in the manufacturing as well as supply chain due to COVID-19 pandemic will challenge the growth of the market.
This electric heat tracing (EHT) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on electric heat tracing (EHT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electric Heat Tracing (EHT) Market Scope and Market Size
The electric heat tracing (EHT) market is segmented on the basis of type, application and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- The electric heat tracing (EHT) market on the basis of type is segmented into self-regulating, constant wattage, mineral-insulated and skin effect.
- Based on application, the electric heat tracing (EHT) market is segmented into freeze protection, viscosity control, process temperature maintenance, roof and gutter, floor heating and others.
- Based on vertical, the electric heat tracing (EHT) market is segmented into oil and gas, chemicals, commercial, residential, power and energy, food and beverages, water and wastewater management and others. Others have been further sub-segmented into pulp and paper, transportation and textile.
Electric Heat Tracing (EHT) Market Country Level Analysis
The electric heat tracing (EHT) market is analysed and market size, volume information is provided by country, type, application and vertical as referenced above.
The countries covered in the electric heat tracing (EHT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the electric heat tracing (EHT) market and will continue to flourish its trend of dominance during the forecast period due to the favourable weather conditions, high adoption of electric heat tracing and rise in the exploration and production of oil as well as gas activities in this region. Asia-Pacific will however, register the highest CAGR for this period due to the growing demand for electric heat tracing in this region.
The country section of the electric heat tracing (EHT) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric Heat Tracing (EHT) Market Share Analysis
The electric heat tracing (EHT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electric heat tracing (EHT) market.
The major players covered in the electric heat tracing (EHT) market report are PARKER HANNIFIN CORP; nVent; Thermon, Inc. BARTEC; Spirax-Sarco Engineering plc; Emerson Electric Co.; Danfoss; eltherm GmbH; BriskHeat; Drexan Energy Systems, Inc.; HEAT TRACE; Heat Trace Products, LLC; QMax Industries; SST GmbH; Technitrace; Anhui Huanrui Heating Manufacturing Co.,Ltd.; Drexma Industries Inc.; Ives Equipment, Inc.; TRACELEC Group; Urecon Ltd.; and Jiahong, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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