The global electric heat tracing market size is expected to be worth USD 2.79 Billion in 2023. It is expected to grow at a CAGR of 5.30% during the forecast period and reach a value of USD 3.61 Billion by 2028.
Electric heat tracing is utilized to support the temperature inside funnels, tanks, and vessels. It is additionally used to repay for the loss of heat. Fundamentally, electric heat tracing is utilized to abstain from freezing by keeping up the material over the basic temperature that empowers a smooth material stream inside the channel or vessel.
The growth of the global electric heat tracing market can be ascribed to the expanding interest in vitality-effective electric heat tracing frameworks, low support cost, and high appropriation of electric heat tracing frameworks over traditional frameworks. Extending consistency necessities and consistent movement from heat tracing frameworks to electric heat frameworks are the unmistakable components adding to the development of the global Electric Heat Tracing market. Expanding speculation on creating an oil/gas pipeline foundation combined with rising natural, well-being, and security worries on the oil pipeline framework quickens the development of the worldwide Electric Heat Tracing market. Moreover, developing enthusiasm by associations across different businesses on operational upgrades to improve effectiveness and persistent reception to robotized checking and control arrangements is relied upon to fuel the development of the global Electric Heat Tracing market.
Be that as it may, the prerequisite of ceaseless evaluation to recognize non-working/risky heat trace and intricacy in protection are distinguished as limitations that are probably going to prevent the movement of the worldwide Electric Heat Tracing market.
Impact of COVID-19 on the electric heat tracing market:
Prior to the COVID-19 pandemic, a humble development rate in the gadgets market was seen universally. After the pandemic, the worldwide equipment industry has confronted a double effect. The production offices of the equipment parts have been stopped, inferable from the coordination log jam and inaccessibility of the workforce over the globe. Then again, different web-based business organizations all over the globe have ceased the conveyance of unnecessary things (counting the vast majority of gadget products), which is influencing the equipment business.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
CAGR |
5.3% |
Segments Covered |
By Type, Application, Vertical and Region |
Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global electric heat tracing market has been segmented and sub-segmented into the following categories.
Global Electric Heat Tracing Market – By Type:
The electric heat tracing market, in view of type, has been divided into self-regulating, constant wattage, mineral-insulated, and skin effect. Self-regulating is the main sort of heat tracing trace and is relied upon to rule the market during the figure time frame. Self-regulating heating traces increment power as the temperature drops and diminishing force as the temperature rises; henceforth, they are more vitality effective than some other sorts of traces. These frameworks have a long-life expectancy and require less upkeep, which is additionally one of the prime reasons that they are favored for different applications. Subsequently, self-regulating traces are required to support the market for electric heat tracing frameworks.
Global Electric Heat Tracing Market – By Application:
The electric heat tracing market, in view of the application, has been segmented into freeze protection and process temperature maintenance, roof & gutter, floor heating, and others that include frost heave protection and snow melting and de-icing applications. The market for the freeze protection and process temperature maintenance application is relied upon to develop at the most elevated rate during the gauge time frame. Heating traces are, for the most part, utilized for freeze protection and process temperature maintenance applications. The electric heat tracing framework is simple for specialists to introduce for the freeze protection application in a wide range of verticals, for example, oil and gas, synthetic substances, business, private, and mash and paper. For process temperature maintenance, heating traces are utilized in different enterprises to keep up the temperature of non-streaming liquids by supplanting the heat lost through warm protection on funnels, vessels, and related equipment. In this application, the temperature of the liquid in a channel is kept up over a specific least temperature to meet the necessities, for example, moving the fluid, utilizing the fluid in a response, forestalling crystallization, or debasement of the fluid, securely closing down the procedure, and keeping up the properties of the fluid.
Global Electric Heat Tracing Market – By Vertical:
The electric heat tracing market, in view of vertical, has been sectioned into oil & gas, chemicals, commercial, power & energy, residential, food & beverages, water and wastewater management, and others that include pulp & paper, transportation, and textile verticals. Heat tracing is utilized to encourage the processing, transportation, and freeze protection of vitality products in both upstream and downstream oil and gas applications. There are organizations that offer electric heat tracing frameworks for the oil and gas industry. The oil and gas vertical is foreseen to lead the market during the conjecture time frame.
Global Electric Heat Tracing Market – By Region:
Geographically, the global Electric Heat Tracing market is divided across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Excluding Japan, Japan, the Middle East, and Africa. Among all, the North American electric Heat Tracing market is relied upon to overwhelm the market due to severe guidelines on modern well-being and high inclination vitality productive heat tracing arrangements. Asia Pacific is recognized as the fastest-developing Electric Heat Tracing market because of fast industrialization and the extension of oil/gas pipeline foundations.
North America is relied upon to hold the biggest portion of the electric heat tracing market during the figure time frame. North American nations are embracing electric heat tracing frameworks for different applications, for example, freeze insurance and procedure temperature upkeep of pipelines. The US is predicted to be a significant supporter of the market in North America.
KEY MARKET PLAYERS:
Significant players in this electric heat tracing market, for example, Pentair (UK), Thermon (US), BARTEC (Germany), Chromalox (US), and Emerson (US), have embraced development techniques to extend their client base and upgraded their product portfolio.
RECENT HAPPENINGS IN THE MARKET:
FAQ's
The diverse applications of electric heat tracing include freeze protection, viscosity control, and process temperature maintenance.
Offer insights into the market size, historical trends, and future growth projections for electric heat tracing solutions.
The major challenges faced by the electric heat tracing market are installation complexity, maintenance issues, and cost concerns.
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