Electric Heat Tracing Market by Type (Self-Regulating, Constant Wattage, Mineral-Insulated, Skin Effect), Application, Vertical (Oil & Gas, Commercial, Power & Energy, Residential, Food & Beverages) and Geography - Global Forecast to 2023
[155 Pages Report] The electric heat tracing (EHT) market is expected to be worth USD 2.39 Billion in 2017 and is expected to reach USD 3.26 Billion by 2023, at a CAGR of 5.3% during the forecast period. The base year considered for the study is 2016, and the forecast period considered is during 20172023. This report provides a detailed analysis of the market based on type, application, vertical, and region. The report forecasts the market size, in terms of value, for various segments with regard to 4 main regionsNorth America, Europe, APAC, and RoW. It strategically profiles the key players and comprehensively analyzes their rankings and core competencies in the electric heat tracing market, along with detailing the competitive landscape for these market leaders.
The research methodology used to estimate and forecast the electric heat tracing market begins with capturing data on key vendor revenues through secondary research. Secondary sources used for this research study include government sources, corporate filings (such as annual reports, investor presentations, and financial statements), articles such as Pentair Thermal Article, Process Heating Article, Cross Instrumentation Blog, industry news, associations such as the National Insulation Association. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenues of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with people holding key positions in the industry such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents has been depicted in the below figure.
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The electric heat tracing market comprises a network of the players involved in the research and product development, raw material suppliers, manufacturers, investors, and distributors. Players operating in the electric heat tracing market include Pentair (UK), Thermon (US), BARTEC (Germany), Chromalox (US), Emerson (US), Danfoss (Denmark), BriskHeat (US), eltherm (Germany), Parker-Hannifin (US), and Warmup (UK). It also includes start-up companies, namely, Drexan (Canada), Heat Trace Products (US), Neptech (US), QMAX (US), and TECHNITRACE (France).
Key Target Audience:
- Cable manufacturers
- Electric heat tracing system manufacturers and suppliers
- Research organizations and consulting companies
- Associations, alliances, and organizations related to electric heat tracing
- Analysts and strategic business planners
- End users of electric heat tracing systems across various verticals such as chemicals, oil & gas, power & energy, manufacturing, commercial, and residential, water & wastewater management, food & beverages, pulp & paper, semiconductor, and mining.
This study answers several questions for the stakeholders, primarily the market segments to focus on in the next 25 years for prioritizing efforts and investments.
Scope of the Report:
This research report categorizes the electric heat tracing market on the basis of type, application, vertical, and region.
Electric Heat Tracing Market, by Type:
- Self-regulating
- Constant wattage
- Mineral-insulated
- Skin effect
Electric Heat Tracing Market, by Application:
- Freeze protection and process temperature maintenance
- Roof and gutter
- Floor heating
- Others
Electric Heat Tracing Market, by Vertical:
- Oil & gas
- Chemicals
- Commercial
- Power & energy
- Residential
- Food & beverages
- Water & wastewater management
- Others (pulp & paper, transportation, textile)
Electric Heat Tracing Market, by Region:
- North America
- Europe
- APAC
- RoW
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:
Company Information:
Detailed analysis and profiling of additional market players (up to 5)
The electric heat tracing (EHT) market is expected to be valued at USD 3.26 Billion by 2023, growing at a CAGR of 5.3% between 2017 and 2023. The growth of this market can be attributed to the increasing demand for energy-efficient electric heat tracing systems, low maintenance cost, and high adoption of electric heat tracing systems over conventional systems.
This report segments the electric heat tracing market based on type, application, vertical, and region. The electric heat tracing market, based on type, has been segmented into self-regulating, constant wattage, mineral-insulated, skin effect. Self-regulating is the leading type of heat tracing cables and is expected to dominate the market during the forecast period. Self-regulating heating cables increase power as the temperature drops, and decrease power as the temperature rises; hence, they are more energy-efficient than any other type of cables. These systems have a long lifespan and require less maintenance, which is also one of the prime reasons that they are preferred for various applications. Hence, self-regulating cables are expected to boost the market for electric heat tracing systems.
The electric heat tracing market, based on 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 expected to grow at the highest rate during the forecast period. Heating cables are mostly used for the freeze protection and process temperature maintenance application. The electric heat tracing system is easy for engineers to install for the freeze protection application in many different verticals such as oil & gas, chemicals, commercial, residential, and pulp & paper. For process temperature maintenance, heating cables are used in various industries to maintain the temperature of non-flowing fluids by replacing the heat lost through the thermal insulation on pipes, vessels, and associated equipment. In this application, the temperature of the fluid in a pipe is maintained above a certain minimum temperature to meet the requirements such as transporting the liquid, using the liquid in a reaction, preventing crystallization or degradation of the liquid, safely shutting down the process, and maintaining the properties of the liquid. Maintaining liquids within the specified temperature range allows having cost-effective transport of fluids from one location to another at maximum efficiencies. Thus, these applications have various benefits for various industrial application.
The electric heat tracing market, based on vertical, has been segmented 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 used to facilitate the processing, transportation, and freeze protection of energy products in both upstream and downstream, oil and gas applications. There are companies that offer electric heat tracing systems for the oil & gas industry. The oil & gas vertical is expected to lead the market during the forecast period.
North America is expected to hold the largest share of the electric heat tracing market during the forecast period. North American countries are adopting electric heat tracing systems for various applications such as freeze protection and process temperature maintenance of pipelines. The US is expected to be the major contributor to the electric heat tracing market in North America. The presence of major players in the US is expected to drive the electric heat tracing market in this region. The oil & gas is a major industry in the US, which is contributing to the economy of North America. North America has various cold countries, and the low temperature requires heat tracing systems for pipelines carrying oil and gas, chemicals, or any other fluids to prevent from freezing. Therefore, the demand for electric heat tracing market in North America is expected to grow during the forecast period.
The main purpose of using an electrical heat tracing systems is to compensate heat loss and maintain the process temperature. Hence, heating cables should not touch, crossover, and overlap themselves after installation since the overlapping of cables results in overheating and burnout and can damage the heat tracing system beyond repair. Therefore, devastating effects of overlapping of heating cables are restraining the growth of the electric heat tracing market.
Major players in this market such as Pentair (UK), Thermon (US), BARTEC (Germany), Chromalox (US), and Emerson (US) have adopted growth strategies to expand their customer base and enhance their product portfolio.
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Breakdown of Primaries
2.1.2.3 Primary Sources
2.1.2.4 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 31)
4.1 Electric Heat Tracing Market
4.2 Electric Heat Tracing Market, By Type
4.3 North American Market, By Vertical and Country
4.4 Market: Geographic Snapshot
4.5 Market, By Vertical
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Electric Heat Tracing Systems Over Conventional Steam Tracing Systems
5.2.1.2 Rising Demand for Energy-Efficient Electric Heat Tracing Systems
5.2.1.3 Low Maintenance Cost
5.2.2 Restraints
5.2.2.1 Devastating Effects of Overlapping of Heating Cables
5.2.3 Opportunities
5.2.3.1 Growing Demand for Heat Tracing Systems From Various End-User Industries
5.2.3.2 Growing Adoption of Heat Tracing Systems in Power Plants
5.2.4 Challenges
5.2.4.1 Installation of Heat Tracing Systems for Tanks and Large Vessels
5.3 Components of Electric Heat Tracing System
5.3.1 Electric Heat Tracing Cable
5.3.2 Power Connection Kit
5.3.3 Control and Monitoring System
5.3.4 Thermal Insulation Material
5.3.5 Others
6 Electric Heat Tracing Market, By Type (Page No. - 40)
6.1 Introduction
6.2 Self-Regulating
6.3 Constant Wattage
6.4 MineralInsulated
6.5 Skin Effect
7 Electric Heat Tracing Market, By Application (Page No. - 47)
7.1 Introduction
7.2 Freeze Protection
7.3 Viscosity Control
7.4 Process Temperature Maintenance
7.5 Roof and Gutter
7.6 Floor Heating
7.7 Others
8 Electric Heat Tracing Market, By Vertical (Page No. - 51)
8.1 Introduction
8.2 Oil & Gas
8.3 Chemicals
8.4 Commercial
8.5 Residential
8.6 Power & Energy
8.7 Food & Beverages
8.8 Water & Wastewater Management
8.9 Others
9 Geographic Analysis (Page No. - 68)
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Russia
9.3.2 Germany
9.3.3 UK
9.3.4 France
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 Rest of APAC
9.5 RoW
9.5.1 Latin America
9.5.2 Middle East & Africa
10 Competitive Landscape (Page No. - 105)
10.1 Introduction
10.2 Market Ranking Analysis, 2016
10.3 Competitive Situation and Trends
10.3.1 Key Market Developments Between 2014 and 2017
10.3.2 Product Launches/Developments
10.3.3 Contracts and Agreements
10.3.4 Acquisitions
10.3.5 Expansions
11 Company Profiles (Page No. - 111)
11.1 Introduction
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
11.2 Key Players
11.2.1 Pentair
11.2.2 Thermon
11.2.3 Bartec
11.2.4 Chromalox
11.2.5 Emerson
11.2.6 Danfoss
11.2.7 Eltherm
11.2.8 Briskheat
11.2.9 Parker-Hannifin
11.2.10 Warmup
11.3 Startup Ecosystem
11.3.1 Drexan
11.3.2 Heat Trace Products
11.3.3 Neptech
11.3.4 Qmax
11.3.5 Technitrace
11.4 Other Companies
11.4.1 Anhui Huanrui
11.4.2 SST Group
11.4.3 Ebeco
11.4.4 Drexma Industries
11.4.5 Heat Trace
11.4.6 IVES Equipment
11.4.7 Perma-Pipe
11.4.8 Tracelec
11.4.9 Urecon
11.4.10 Wuhu Jiahong
*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 147)
12.1 Insights From Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customization
12.6 Related Reports
12.7 Author Details
List of Tables (65 Tables)
Table 1 Electric Heat Tracing Market, By Type, 20152023 (USD Million)
Table 2 Self-Regulating Electric Heat Tracing Market, By Vertical, 20152023 (USD Million)
Table 3 Constant Wattage Electric Heat Tracing Market, By Vertical, 20152023 (USD Million)
Table 4 Mineral-Insulated Electric Heat Tracing Market, By Vertical, 20152023 (USD Million)
Table 5 Skin Effect Electric Heat Tracing Market, By Vertical, 20152023 (USD Million)
Table 6 Electric Heat Tracing Market, By Application, 20152023 (USD Million)
Table 7 Electric Heat Tracing Market, By Vertical, 20152023 (USD Million)
Table 8 Market for Oil & Gas Vertical, By Type, 20152023 (USD Million)
Table 9 Market for Oil & Gas Vertical, By Region, 20152023 (USD Million)
Table 10 Market for Chemicals Vertical, By Type, 20152023 (USD Million)
Table 11 Market for Chemicals Vertical, By Region, 20152023 (USD Million)
Table 12 Market for Commercial Vertical, By Type, 20152023 (USD Million)
Table 13 Market for Commercial Vertical, By Region, 20152023 (USD Million)
Table 14 Market for Residential Vertical, By Type, 20152023 (USD Million)
Table 15 Market for Residential Vertical, By Region, 20152023 (USD Million)
Table 16 Market for Power & Energy Vertical, By Type, 20152023 (USD Million)
Table 17 Market for Power & Energy Vertical, By Region, 20152023 (USD Million)
Table 18 Market for Food & Beverages Vertical, By Type, 20152023 (USD Million)
Table 19 Market for Food & Beverages Vertical, By Region, 20152023 (USD Million)
Table 20 Market for Water & Wastewater Management Vertical, By Type, 20152023 (USD Million)
Table 21 Market for Water & Wastewater Management Vertical, By Region, 20152023 (USD Million)
Table 22 Market for Other Verticals, By Type, 20152023 (USD Million)
Table 23 Market for Other Verticals, By Region, 20152023 (USD Million)
Table 24 Electric Heat Tracing Market, By Region, 20152023 (USD Million)
Table 25 Market in North America, By Country, 20152023 (USD Million)
Table 26 Market for Oil & Gas Vertical in North America, By Country, 20152023 (USD Million)
Table 27 Market for Chemicals Vertical in North America, By Country, 20152023 (USD Million)
Table 28 Market for Commercial Vertical in North America, By Country, 20152023 (USD Million)
Table 29 Market for Residential Vertical in North America, By Country, 20152023 (USD Million)
Table 30 Market for Power & Energy Vertical in North America, By Country, 20152023 (USD Million)
Table 31 Market for Food & Beverages Vertical in North America, By Country, 20152023 (USD Million)
Table 32 Market for Water and Wastewater Management Vertical in North America, By Country, 20152023 (USD Million)
Table 33 Market for Other Verticals in North America, By Country, 20152023 (USD Million)
Table 34 Market in Europe, By Country, 20152023 (USD Million)
Table 35 Market for Oil & Gas Vertical in Europe, By Country, 20152023 (USD Million)
Table 36 Market for Chemicals Vertical in Europe, By Country, 20152023 (USD Million)
Table 37 Market for Commercial Vertical in Europe, By Country, 20152023 (USD Million)
Table 38 Market for Residential Vertical in Europe, By Country, 20152023 (USD Million)
Table 39 Market for Power & Energy Vertical in Europe, By Country, 20152023 (USD Million)
Table 40 Market for Food & Beverages Vertical in Europe, By Country, 20152023 (USD Million)
Table 41 Market for Water & Wastewater Management Vertical in Europe, By Country, 20152023 (USD Million)
Table 42 Market for Other Verticals in Europe, By Country, 20152023 (USD Million)
Table 43 Market in APAC, By Country, 20152023 (USD Million)
Table 44 Market for Oil & Gas Vertical in APAC, By Country, 20152023 (USD Million)
Table 45 Market for Chemicals Vertical in APAC, By Country, 20152023 (USD Million)
Table 46 Market for Commercial Vertical in APAC, By Country, 20152023 (USD Million)
Table 47 Market for Residential Vertical in APAC, By Country, 20152023 (USD Million)
Table 48 Market for Power & Energy Vertical in APAC, By Country, 20152023 (USD Million)
Table 49 Market for Food & Beverages Vertical in APAC, By Country, 20152023 (USD Million)
Table 50 Market for Water & Wastewater Management Vertical in APAC, By Country, 20152023 (USD Million)
Table 51 Market for Other Verticals in APAC, By Country, 20152023 (USD Million)
Table 52 Market in RoW, By Region, 20152023 (USD Million)
Table 53 Market for Oil & Gas Vertical in RoW, By Region, 20152023 (USD Million)
Table 54 Market for Chemicals Vertical in RoW, By Region, 20152023 (USD Million)
Table 55 Market for Commercial Vertical in RoW, By Region, 20152023 (USD Million)
Table 56 Market for Residential Vertical in RoW, By Region, 20152023 (USD Million)
Table 57 Market for Power & Energy Vertical in RoW, By Region, 20152023 (USD Million)
Table 58 Market for Food & Beverages Vertical in RoW, By Region, 20152023 (USD Million)
Table 59 Market for Water & Wastewater Management Vertical in RoW, By Region, 20152023 (USD Million)
Table 60 Market for Other Verticals, By Region, 20152023 (USD Million)
Table 61 Ranking Analysis of Market Players, 2016
Table 62 Product Launches/Developments, 2014-2017
Table 63 Contracts and Agreements, 20162017
Table 64 Acquisitions, 20152016
Table 65 Expansions, 20142017
List of Figures (52 Figures)
Figure 1 Electric Heat Tracing Market Segmentation
Figure 2 Electric Heat Tracing Market: Process Flow of Market Size Estimation
Figure 3 Research Design
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Self-Regulating Cables Expected to Dominate the Market During the Forecast Period
Figure 8 Freeze Protection and Process Temperature Maintenance Application Expected to Dominate the Market During the Forecast Period
Figure 9 Oil & Gas Vertical Expected to Dominate the Market Between 2017 and 2023
Figure 10 Electric Heat Tracing Market, By Region
Figure 11 Growth Opportunities in the Electric Heat Tracing Market Between 2017 and 2023
Figure 12 Electric Heat Tracing Market for Self-Regulating Cables Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Oil & Gas Vertical Held A Major Share of the North American Electric Heat Tracing Market in 2016
Figure 14 US Accounted for the Largest Share of the Electric Heat Tracing Market in 2016
Figure 15 Oil & Gas Vertical Expected to Continue to Hold the Largest Size of the Electric Heat Tracing Market Till 2023
Figure 16 Increasing Adoption of Electric Heat Tracing Systems Over Conventional Steam Tracing Systems Drive the Electric Heat Tracing Market Growth
Figure 17 Self-Regulating Heat Tracing Systems Expected to Lead the Market During the Forecast Period
Figure 18 Oil & Gas and Chemical Verticals to Dominate Market for Self-Regulating Electric Heat Tracing Systems During the Forecast Period
Figure 19 Oil & Gas Vertical Expected to Lead the Market for Constant Wattage Electric Heat Tracing Systems During the Forecast Period
Figure 20 Freeze Protection and Process Temperature Maintenance Application Expected to Dominate the Electric Heat Tracing Market During the Forecast Period
Figure 21 Oil & Gas Vertical Expected to Lead the Electric Heat Tracing Market During the Forecast Period
Figure 22 Self-Regulating Heat Tracing Systems Expected to Lead the Market for Oil & Gas Vertical During the Forecast Period
Figure 23 North America Expected to Hold the Largest Share of the Market During the Forecast Period
Figure 24 Market for Self-Regulating Electric Heat Tracing Systems Expected to Grow at the Highest Rate for Chemicals Vertical Between 2017 and 2023
Figure 25 North America Expected to Lead the Market for Chemicals Vertical During the Forecast Period
Figure 26 North America Expected to Dominate the Market for Commercial Vertical Between 2017 and 2023
Figure 27 North America Expected to Lead the Market for Residential Vertical During the Forecast Period
Figure 28 North America Expected to Hold the Largest Share of the Market for Power & Energy Vertical During the Forecast Period
Figure 29 Market in US Expected to Grow at the Highest CAGR Between 2017 and 2023
Figure 30 North America Expected to Dominate the Market During the Forecast Period
Figure 31 North America Snapshot: Electric Heat Tracing Market
Figure 32 Market in US to Grow at the Highest CAGR Between 2017 and 2023
Figure 33 Market for Oil & Gas Vertical in US Expected to Grow at the Highest CAGR Between 2017 and 2023
Figure 34 US to Dominate the North American Market for Chemicals Vertical During 20172023
Figure 35 Market for Commercial Vertical in US Expected to Grow at the Highest CAGR During the Forecast Period
Figure 36 US Expected to Lead the North American Market for Power & Energy Vertical During the Forecast Period
Figure 37 Europe Snapshot: Electric Heat Tracing Market
Figure 38 Russia Expected to Dominate the European Market During the Forecast Period
Figure 39 Russia Expected to Dominate the European Market for Oil & Gas Vertical During 20172023
Figure 40 Market for Chemicals Vertical in Germany Expected to Grow at the Highest CAGR Between 2017 and 2023
Figure 41 Germany Expected to Lead the Market for Power & Energy Vertical During the Forecast Period
Figure 42 Asia Pacific Snapshot: Electric Heat Tracing Market
Figure 43 China Expected to Dominate the Market in APAC During the Forecast Period
Figure 44 China Expected to Dominate the Market for Oil & Gas Vertical in APAC During the Forecast Period
Figure 45 China Expected to Lead the Market for Chemicals Vertical in APAC During the Forecast Period
Figure 46 Latin America Expected to Dominate the Market During the Forecast Period
Figure 47 Organic and Inorganic Strategies Adopted By Companies Operating in the Electric Heat Tracing Market (20142017)
Figure 48 Pentair: Company Snapshot
Figure 49 Thermon: Company Snapshot
Figure 50 Emerson: Company Snapshot
Figure 51 Danfoss: Company Snapshot
Figure 52 Parker-Hannifin: Company Snapshot
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