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 & Gutter, Floor Heating, Others), Vertical (Oil & Gas, Chemicals, Commercial, Residential, Power & Energy, Food & Beverages, Water & Wastewater Management, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Electric Heat Tracing (EHT) Market
Global electric heat tracing (EHT) market is expected to rise to an estimated value of USD 3.97 billion by 2026, registering a CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the adoption of permanent heating solutions and systems from various applicable industries.
Market Definition: Global Electric Heat Tracing (EHT) Market
Electric trace heating is the process of enhancing the levels of temperature in pipes, floors, vessels and other infrastructural surfaces with the help of heat tracing cables. This is highly significant in areas where the temperatures can drop significantly and can result in freezing of pipes, vessels and other components in an industry. This method also helps in optimal maintenance of processes by helping keep a consistent temperature base in a more efficient manner as compared to other heating solutions such as insulation or jacketing.
- Rapid preference of these systems over conventional steam tracing methods is expected to propel the growth of the market
- Lower costs of operations and maintenance; this factor is expected to drive the growth of the market
- Focus of various industries on adoption of resource efficient systems for heating will also boost the market growth
- Significant negative impacts associated with heat cables overlapping; this factor is expected to hamper the growth of the market
- Large levels of costs required for installation of these systems due to their complicated designing is another factor restricting this market growth in the forecast period
Segmentation: Global Electric Heat Tracing (EHT) Market
- Constant Wattage
- Skin Effect
- Freeze Protection
- Viscosity Control
- Process Temperature Maintenance
- Roof & Gutter
- Floor Heating
- Oil & Gas
- Power & Energy
- Food & Beverages
- Water & Wastewater Management
- Pulp & Paper
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2019, nVent announced the availability of “RAYCHEM Elexant 4010i”. This controller belonging to the company’s “Elexant” product range provides an efficient control solution enabling greater security and reliability in controlling of heat tracing technology. It also helps in the integration of more advanced and cost-effective technological solutions
- In April 2018, nVent announced that they had completed the separation of their business operations from “Pentair plc”. The company will consist of a highly advanced portfolio of electrical products for critical applications wherein the requirement of significantly reducing the incidences of failure is utmost important. This spin-off will provide customers with a more focused and streamlined approach in provision of electrical systems
Global electric heat tracing (EHT) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electric heat tracing (EHT) market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global electric heat tracing (EHT) market are nVent; Thermon, Inc. BARTEC; Spirax-Sarco Engineering plc; Emerson Electric Co.; Danfoss; eltherm GmbH; BriskHeat; Parker Hannifin Corp; Drexan Energy Systems, Inc.; HEAT TRACE; Heat Trace Products, LLC; QMax Industries Inc.; Technitrace; Anhui Huanrui Heating Manufacturing Co.,Ltd.; SST Group; Drexma Industries Inc.; Ives Equipment, Inc.; TRACELEC Group; Urecon Ltd.; jiahong among others.
Research Methodology: Global Electric Heat Tracing (EHT) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted 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 can drop down your enquiry.
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. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved