Electric Heat Tracing Market: Introduction
Expanding number of industrial and commercial piping systems is one of the key factors contributing to the growth of global Electric Heat Tracing market. Electric heat tracing system consists of various components such as electric heat tracing cable, power connection kit, thermostat, electric heat tracing label, and thermal insulation. The heating cables are attached to the product pipe or the equipment surface in order to trace the heat. Resistive type electric heat tracing system is the commonly used heating system across various commercial applications, where heat is produced in proportion to the square of the current (I) and the resistance (R) of the elements (I2R). The design parameters of an electric system varies according to application, and also the heat trace control scenarios range from simple to complex based on the type of trace used and the process.
Electric Heat Tracing Market: Market Dynamics
Expanding compliance requirements, and continuous migration from steam tracing systems to electric heat system are the prominent factors contributing to the growth of global Electric Heat Tracing market. Increasing investment on developing oil/gas pipeline infrastructure coupled with rising environmental, health, and safety concerns on the oil pipeline infrastructure, accelerates the growth of global Electric Heat Tracing market. Additionally, growing interest by organizations across various industries on operational improvements to enhance efficiency and continuous adoption to automated monitoring and control solutions is expected to fuel the growth of global Electric Heat Tracing market.
However, requirement of continuous auditing to identify non-functioning/problematic heat trace, and complexity in insulation are identified as restraints which are likely to deter the progression of global Electric Heat Tracing market.
Electric Heat Tracing Market: Market Segmentation
The global Electric Heat Tracing market is segmented on the basis of system components, type, end user industry, and region.
On the basis of system components, global Electric Heat Tracing market can be segmented into following types;
On the basis of type, the global Electric Heat Tracing market can be segmented into following types;
On the basis of end user industry, the global Electric Heat Tracing market can be segmented into following industries;
Electric Heat Tracing Market: Regional Outlook
Regionally, the global Electric Heat Tracing market is segmented across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan, Japan, and Middle East & Africa. Among all regions, North America Electric Heat Tracing market is expected to dominate the market due stringent regulation on industrial safety and high preference energy efficient heat tracing solutions. Asia Pacific is identified as the fastest growing Electric Heat Tracing market, due to rapid industrialization and expanding oil/gas pipeline infrastructure.
Electric Heat Tracing Market: Competition Landscape
Some of the prominent players in the global Electric Heat Tracing market includes, Thermon, BARTEC, Pentair plc, Danfoss, Chromalox, BriskHeat, eltherm GmbH, PARKER HANNIFIN CORP, Warmup Inc., and Urecon Ltd.
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Regional analysis for Electric Heat Tracing Market includes
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.