Electric Heat Tracing Market Overview By Share, Size, Revenue and Product Demand 2030 | Anhui Huanrui Heating Manufacturing Co., Ltd., Drexan Energy Systems, Inc., Drexma Industries Inc.

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.

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.

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.

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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

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.

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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
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

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Electric Heat Tracing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

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

Regional Insights

North America is leading the Industrial Automation and Equipment market through increasing number of collaboration and effective government policies. Industrial Automation and Equipment companies in the United States spend about one-fifth of their total revenue on research and development – among the highest rates in any industry. Throughout difficult economic times and through fluctuations in sales revenue, the industry has consistently prioritized R&D. In order to maintain the partnership, the federal government is funding research at sustainable levels. The industry will continue to drive economic growth and develop technologies that will advance the future.

Impact Analysis of COVID-19

Industrial Automation and Equipment moved quickly to secure supply chains, protect their employees, and address other urgent concerns after the spread of COVID-19. In spite of seriousness of the situation and the fact that many governments continue to impose physical distance requirements, Industrial Automation and Equipment companies are now forward when the pandemic subsides and a new normal begins.  As a result of COVID-19, many fundamental aspects of the sector have changed, including customer behavior, business revenue, and various features of corporate operations. Thus, some companies may unable to survive the crisis.

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Aim of the Report

  • This study aims to determine the market size of various segments and countries with forecast values for next ten years.
  • Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
  • It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
  • The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.

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