Electric Heat Tracing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Electric Heat Tracing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • ICT

Report Description

Electric heat tracing is used to maintain the temperature within vessels, tanks, and pipes. It is also used to compensate for the loss of heat. Primarily, electric heat tracing is utilized to avoid freezing by maintaining the material above the required temperature that enables smooth material flow inside the pipe or vessel. Electric heat tracing reduces the viscosity of a fluid for effective pumping. Additionally, it is also used to raise the temperature of the fluid inside the pipe, avoid the formation of liquids in gas lines, and enable minimal formation of solids in liquid pipes. Early and regular electric heat tracing audit is vital, as it could help in predicting the approximate time of electric heat tracing failure. Audits can be done by finding out the installation day of the electric heat tracing system along with the capacitance and the voltage readings used for the system. Working style of the electric heat tracing can be formed with regular electric heat tracing audits. With the help of this data, it is easy to observe variances in the working of the electric heat tracing and predict the available life of the entire system. This allows a company to work out a maintenance budget for the replacement of the electric heat tracing system accordingly in the future.

Growing adoption of electric heat tracing systems to maintain or raise the temperature within pipes or tanks, advantages of electric heat tracing systems over the traditional steam tracing system, and low maintenance cost is expected to drive the electric heat tracing market. Electric heat tracing makes use of an electrical element for heating, which runs along the length of the pipe. The heating element keeps the temperature within the pipe high, which enables the fluids to stay in liquid form. This process is highly useful for plants that do not have access to steam for heating the water and are looking for minimal initial investment. Electric heat systems provide considerable variations in terms of the temperature range as compared to steam heat tracing systems. Furthermore, electric heat tracing has low maintenance cost and can be monitored remotely. These systems can be installed easily and use the energy efficiently.

Inability to use the electric heat tracing system in the vicinity of certain areas, in the presence of flammable substances can hamper the growth of the electric heat tracing market. It is considered unsafe by the National Electrical Code (NEC) and according to them, it can overheat and damage the entire heat tracing system. However, the growing investment in R&D activities of electric heat tracing systems by well-established players are expected to overcome this restraint in the near future.

The electric heat tracing market can be segmented on the basis of type, end-use industry, and regions. On the basis of type, the market can be segmented into self-regulating, mineral insulated, skin effect, and constant wattage. On the basis of end-use industry, the market can be segmented into oil & gas, chemical, energy, food & beverage, commercial, residential, and others.

Geographically, the electric heat tracing market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe are expected to lead due to the relatively cold weather in countries such as the U.S. and Canada and presence of major established players from the electric heat tracing domain across the region. However, continuously increasing manufacturing plants across emerging economies such as India, China, and Japan is expected to drive the electric heat tracing market at a significant pace.

Some of the key players in the electric heat tracing market are THERMON, Pentair plc, BriskHeat, Warmup, DANFOSS, Spirax-Sarco Engineering, BARTEC, Parker Hannifin, Drexan Energy Systems, Inc., Technitracing, QMax Industries Inc., EBECO AB, and more.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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