전기 히트 트레이스 시장 예측(-2030년) : 유형, 컴포넌트, 용도, 최종사용자, 지역별 세계 분석

According to Stratistics MRC, the Global Electric Heat Tracing Market is accounted for $2.7 billion in 2023 and is expected to reach $4.9 billion by 2030 growing at a CAGR of 8.8% during the forecast period. Electric heat tracing is a method of maintaining desired temperatures in pipes, vessels, and other equipment using electrical heating elements. It involves wrapping or embedding electric cables along the surfaces to prevent freezing or maintain the process temperature. The heat generated by the cables prevents the contents from solidifying or condensing, ensuring operational efficiency and integrity in various industrial applications.

According to a report by the International Energy Agency (IEA), in 2019, the industrial sector accounted for about 37% of global final energy consumption. Additionally, the report highlights that the demand for process heating is expected to increase in the coming years.

Market Dynamics:

Driver:

Growing demand for temperature control in industrial processes

The increasing need for precise temperature control in various industrial processes is a key driver for the electric heat tracing market. Industries such as oil and gas, chemicals, pharmaceuticals, and food processing require accurate temperature maintenance to ensure product quality, prevent freezing, and optimize production efficiency. Electric heat tracing systems provide reliable and efficient temperature control solutions, enabling industries to maintain desired temperatures in pipes, vessels, and equipment, thereby driving the demand for these systems.

Restraint:

High investment costs

Implementing comprehensive heat tracing solutions requires significant capital expenditure, including the cost of heating cables, control systems, and installation services. These upfront costs may deter some industries, particularly small and medium-sized enterprises, from adopting electric heat tracing technologies, especially in price-sensitive markets. The high investment costs can limit the widespread adoption of electric heat tracing systems, particularly in developing economies.

Opportunity:

Focus on energy-saving solutions

Industries are increasingly seeking energy-saving solutions to reduce operational costs and minimize their environmental footprint. Electric heat tracing systems that offer advanced control and monitoring capabilities, such as self-regulating cables and smart controllers, enable optimized energy consumption and reduce energy waste. The development of innovative, energy-efficient electric heat tracing technologies aligns with the global trend towards sustainable practices and opens up new market opportunities.

Threat:

Competition from alternative heating methods

The electric heat tracing market faces competition from alternative heating methods, such as steam tracing and fuel-fired heating systems. These traditional heating methods are well-established in certain industries and may pose a threat to the adoption of electric heat tracing systems. Steam tracing, for instance, is widely used in industries with existing steam infrastructure, and the familiarity with this technology can hinder the transition to electric heat tracing. Moreover, the presence of alternative heating methods can intensify market competition and challenge the growth of the electric heat tracing market.

Covid-19 Impact:

The COVID-19 pandemic has had a mixed impact on the electric heat tracing market. While overall industrial activity slowed down due to lockdowns and supply chain disruptions, certain sectors, such as pharmaceuticals and healthcare, witnessed increased demand for temperature-critical applications. The need for reliable temperature maintenance in the production and storage of vaccines and medical supplies drove the adoption of electric heat tracing systems. However, the oil and gas industry, a key end-user, faced significant challenges due to reduced demand and project delays, negatively impacting market growth.

The constant wattage segment is expected to be the largest during the forecast period

The constant wattage segment is expected to be the largest during the forecast period. Constant wattage electric heat tracing systems offer consistent and reliable temperature maintenance, making them suitable for a wide range of industrial applications. These systems provide a fixed wattage output per unit length, ensuring uniform heat distribution along the traced surface. Furthermore, industries such as oil and gas, chemicals, and power generation extensively use constant wattage heat tracing for freeze protection and process temperature maintenance, driving the segment's growth.

The monitoring systems segment is expected to have the highest CAGR during the forecast period

The monitoring systems segment is expected to have the highest CAGR during the forecast period. Monitoring systems play a crucial role in ensuring the efficient and safe operation of electric heat tracing systems. The increasing adoption of advanced monitoring technologies, such as IoT-based solutions and wireless communication, is driving the high growth rate of this segment. Industries are recognizing the benefits of monitoring systems in optimizing energy consumption, preventing system failures, and enhancing operational efficiency, fueling the demand for these advanced solutions.

Region with largest share:

Asia Pacific is positioned to dominate the electric heat tracing market. The Asia Pacific region, with its rapidly growing industrial sector and increasing infrastructure development, is expected to hold the largest share in the electric heat tracing market. Countries like China, India, and Southeast Asian nations are investing heavily in industrial expansion, particularly in sectors such as oil and gas, chemicals, and power generation. Additionally, the presence of a large number of market players and the availability of cost-effective solutions further strengthen Asia Pacific's market dominance.

Region with highest CAGR:

In addition to holding the largest market share, the Asia-Pacific region is also projected to experience the highest CAGR in the electric heat tracing market during the forecast period. The region's fast-paced industrialization, urbanization, and rising energy demand are key factors driving this rapid growth. Governments in the region are focusing on infrastructure development, including the construction of new industrial facilities, pipelines, and power plants, which require efficient temperature control solutions. Moreover, the increasing adoption of advanced technologies and growing awareness about energy efficiency are propelling the demand for innovative electric heat tracing systems in the Asia-Pacific region.

Key players in the market

Some of the key players in Electric Heat Tracing Market include ASC Engineered Solutions, LLC, Bartec GmbH, BriskHeat Corporation, Chromalox, Inc., Drexan Energy Systems Inc., eltherm GmbH, Emerson Electric Co., Flexelec, Heat Trace Products LLC, nVent Electric plc, Parker Hannifin Corporation, Pentair plc, QMax Industries Inc., Raychem, SST Group, Supermec Private Limited, Technitrace, Thermon Group Holdings Inc., Trasor Corporation and Warmup plc.

Key Developments:

In December 2023, nVent Electric plc ("nVent"), a global leader in electrical connection and protection solutions, announced it will open a new distribution center in Dayton, Minnesota. The current distribution center in Anoka will be used to expand the manufacturing of liquid cooling products for data centers. nVent plans to move into the new distribution center by the end of 2023.

In October 2023, Operating capacity for the electric heating technology pioneered by Chromalox more than 100 years ago will be expanding at the company's Ogden, UT, facility during 2024. In conjunction with Utah's Weber County Economic Development Office, Chromalox announced a major upgrade and expansion to its Ogden factory that produces thermal electric heating technology used for sustainable heating applications in industrial and commercial installations throughout the globe.

In October 2023, Emerson announced it has closed its acquisition of NI, a leading provider of software-connected automated test and measurement systems, at an equity value of $8.2 billion. The acquisition of NI advances Emerson's position as a global automation leader and expands its opportunity to capitalize on key secular trends like nearshoring, digital transformation, and sustainability and decarbonization.

Types Covered:

• Skin Effect
• Self-Regulating
• Mineral-insulated
• Constant Wattage

Components Covered:

• Heating Cables
• Monitoring Systems
• Termination Kits
• Thermostats & Controls
• Other Components

Applications Covered:

• Process Temperature Maintenance
• Floor Heating
• Freeze Protection
• Roof and Gutter De-icing
• Tank Heating
• Other Applications

End Users Covered:

• Chemicals
• Commercial
• Food & Beverage
• Oil & Gas
• Power & Energy
• Residential
• Water & Wastewater Management
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Electric Heat Tracing Market, By Type

• 5.1 Introduction
• 5.2 Skin Effect
• 5.3 Self-Regulating
• 5.4 Mineral-insulated
• 5.5 Constant Wattage

6 Global Electric Heat Tracing Market, By Component

• 6.1 Introduction
• 6.2 Heating Cables
• 6.3 Monitoring Systems
• 6.4 Termination Kits
• 6.5 Thermostats & Controls
• 6.6 Other Components

7 Global Electric Heat Tracing Market, By Application

• 7.1 Introduction
• 7.2 Process Temperature Maintenance
• 7.3 Floor Heating
• 7.4 Freeze Protection
• 7.5 Roof and Gutter De-icing
• 7.6 Tank Heating
• 7.7 Other Applications

8 Global Electric Heat Tracing Market, By End User

• 8.1 Introduction
• 8.2 Chemicals
• 8.3 Commercial
• 8.4 Food & Beverage
• 8.5 Oil & Gas
• 8.6 Power & Energy
• 8.7 Residential
• 8.8 Water & Wastewater Management
• 8.9 Other End Users

9 Global Electric Heat Tracing Market, By Geography

• 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 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 ASC Engineered Solutions, LLC
• 11.2 Bartec GmbH
• 11.3 BriskHeat Corporation
• 11.4 Chromalox, Inc.
• 11.5 Drexan Energy Systems Inc.
• 11.6 eltherm GmbH
• 11.7 Emerson Electric Co.
• 11.8 Flexelec
• 11.9 Heat Trace Products LLC
• 11.10 nVent Electric plc
• 11.11 Parker Hannifin Corporation
• 11.12 Pentair plc
• 11.13 QMax Industries Inc.
• 11.14 Raychem
• 11.15 SST Group
• 11.16 Supermec Private Limited
• 11.17 Technitrace
• 11.18 Thermon Group Holdings Inc.
• 11.19 Trasor Corporation
• 11.20 Warmup plc