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Global Electric Heat Tracing Market to reach USD 2.95 billion by 2028

Global Electric Heat Tracing Market Size study, 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) and Regional Forecasts 2022-2028

Product Code: EESC-14200733
Publish Date: 30-04-2022
Page: 200

Global Electric Heat Tracing Market is valued at approximately USD 1.7 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2022-2028. 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 2022-2028. 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.

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 2022-2028. 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

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. The detailed segments and sub-segment of the market are explained below:
By Type:
Constant Wattage
Mineral Insulated
Skin Effect
By Application
Freeze Protection & Process Temperature Maintenance
Floor Heating
Roof & Gutter De-Icing
By Vertical
Oil & Gas
Power & Energy
Food & Beverages
Water & Wastewater Management
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

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

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Electric Heat Tracing Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Electric Heat Tracing Market, by Type, 2020-2028 (USD Billion)
1.2.3. Global Electric Heat Tracing Market, by Application, 2020-2028 (USD Billion)
1.2.4. Global Electric Heat Tracing Market, by Vertical, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Electric Heat Tracing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Electric Heat Tracing Market Dynamics
3.1. Electric Heat Tracing Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Growing investment indeveloping oil/gas pipeline infrastructure Low maintenance cost associated with electric heat tracing systems
3.1.2. Market Challenges Installation of heat tracing systems for tanks and large vessels
3.1.3. Market Opportunities Increasing penetration of heat tracing systems in power plants
Chapter 4. Global Electric Heat Tracing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Electric Heat Tracing Market, by Type
6.1. Market Snapshot
6.2. Global Electric Heat Tracing Market by Type, Performance – Potential Analysis
6.3. Global Electric Heat Tracing Market Estimates & Forecasts by Type, 2019-2028 (USD Billion)
6.4. Electric Heat Tracing Market, Sub Segment Analysis
6.4.1. Self-Regulating
6.4.2. Constant Wattage
6.4.3. Mineral Insulated
6.4.4. Skin Effect
Chapter 7. Global Electric Heat Tracing Market, by Application
7.1. Market Snapshot
7.2. Global Electric Heat Tracing Market by Application, Performance – Potential Analysis
7.3. Global Electric Heat Tracing Market Estimates & Forecasts by Application, 2019-2028 (USD Billion)
7.4. Electric Heat Tracing Market, Sub Segment Analysis
7.4.1. Freeze Protection & Process Temperature Maintenance
7.4.2. Floor Heating
7.4.3. Roof & Gutter De-Icing
7.4.4. Others
Chapter 8. Global Electric Heat Tracing Market, by Vertical
8.1. Market Snapshot
8.2. Global Electric Heat Tracing Market by Vertical, Performance – Potential Analysis
8.3. Global Electric Heat Tracing Market Estimates & Forecasts by Vertical, 2019-2028 (USD Billion)
8.4. Electric Heat Tracing Market, Sub Segment Analysis
8.4.1. Oil & Gas
8.4.2. Chemicals
8.4.3. Commercial
8.4.4. Residential
8.4.5. Power & Energy
8.4.6. Food & Beverages
8.4.7. Pharmaceuticals
8.4.8. Water & Wastewater Management
8.4.9. Others
Chapter 9. Global Electric Heat Tracing Market, Regional Analysis
9.1. Electric Heat Tracing Market, Regional Market Snapshot
9.2. North America Electric Heat Tracing Market
9.2.1. U.S. Electric Heat Tracing Market Type breakdown estimates & forecasts, 2019-2028 Application breakdown estimates & forecasts, 2019-2028 Vertical breakdown estimates & forecasts, 2019-2028
9.2.2. Canada Electric Heat Tracing Market
9.3. Europe Electric Heat Tracing Market Snapshot
9.3.1. U.K. Electric Heat Tracing Market
9.3.2. Germany Electric Heat Tracing Market
9.3.3. France Electric Heat Tracing Market
9.3.4. Spain Electric Heat Tracing Market
9.3.5. Italy Electric Heat Tracing Market
9.3.6. Rest of Europe Electric Heat Tracing Market
9.4. Asia-Pacific Electric Heat Tracing Market Snapshot
9.4.1. China Electric Heat Tracing Market
9.4.2. India Electric Heat Tracing Market
9.4.3. Japan Electric Heat Tracing Market
9.4.4. Australia Electric Heat Tracing Market
9.4.5. South Korea Electric Heat Tracing Market
9.4.6. Rest of Asia Pacific Electric Heat Tracing Market
9.5. Latin America Electric Heat Tracing Market Snapshot
9.5.1. Brazil Electric Heat Tracing Market
9.5.2. Mexico Electric Heat Tracing Market
9.6. Rest of The World Electric Heat Tracing Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Anhui Huanrui Heating Manufacturing Co., Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Drexan Energy Systems, Inc.
10.2.3. Drexma Industries Inc.
10.2.4. Emerson Electric Company,
10.2.5. Parker-Hannifin Corporation
10.2.6. QmaxTest Research Corporation
10.2.7. Heat Trace Products, LLC.
10.2.8. Ives Equipment, Inc.
10.2.9. Danfoss A/S
10.2.10. Thermon
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Data Collection:
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
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