The global electric heat tracing market is estimated to be estimated at USD 3.26 Billion by 2026, developing at a CAGR of 5.3% somewhere in the range of 2021 and 2026. 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 smooth material stream inside the channel or vessel.
The development of this market can be ascribed to the expanding interest for vitality effective electric heat tracing frameworks, low support cost, and high appropriation of electric heat tracing frameworks over traditional frameworks.
In May 2019, nVent reported the accessibility of "RAYCHEM Elexant 4010i". This controller having a place with the organization's "Elexant" product run gives an effective control arrangement empowering more prominent protection and unwavering quality in controlling heat tracing innovation. It likewise helps in the mix of further developed and practical innovative arrangements.
In April 2018, nVent reported that they had finished the partition of their business tasks from "Pentair plc". The organization will comprise a profoundly propelled arrangement of electrical products for basic applications wherein the necessity of altogether lessening the occurrences of disappointment is most extreme significant. This side project will furnish clients with an increasingly engaged and smoothed out methodology in arrangement of electrical frameworks.
Drivers and Restraints
Extending consistency necessities and consistent movement from heat tracing frameworks to electric heat framework are the unmistakable components adding to the development of the global Electric Heat Tracing market. Expanding speculation on creating oil/gas pipeline foundation combined with rising natural, wellbeing, 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 which are probably going to prevent the movement of the worldwide Electric Heat Tracing market.
This market is segmented on type, application, vertical, and region. The electric heat tracing market, in view of type, has been divided into self-regulating, constant wattage, mineral-insulated, skin effect. Self-regulating is the main sort of heat tracing traces 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 sort 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.
The electric heat tracing market, in view of 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 the freeze protection and process temperature maintenance application. 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 the 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.
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.
Geographically, the global Electric Heat Tracing market is divided across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan, Japan, and Middle East and Africa. Among all, the North America Electric Heat Tracing market is relied upon to overwhelm the market due severe guidelines on modern wellbeing and high inclination vitality productive heat tracing arrangements. Asia Pacific is recognized as the quickest developing Electric Heat Tracing market, because of fast industrialization and extending oil/gas pipeline foundation.
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 the significant supporter of the market in North America.
Effect of Covid-19
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 the gadgets products), which is influencing the equipment business.
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 upgrade their product portfolio.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electric Heat Tracing Market, By Type
6.1.2 Constant Wattage
6.1.4 Skin Effect
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Electric Heat Tracing Market, By Application
6.2.1 Freeze Protection and Process Temperature Maintenance
6.2.2 Roof & Gutter
6.2.3 Floor Heating
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Electric Heat Tracing Market, By Vertical
6.3.1 Oil & Gas
6.3.3 Power & Energy
6.3.5 Food & Beverages
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By Vertical
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By Vertical
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By Vertical
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By Vertical
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Type
7.6.3 By Application
7.6.4 By Vertical
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures