According to a market report by Lucintel, the future of the electric heat tracing market looks promising with opportunities in the oil & gas, chemical, commercial, residential, power & energy, food & beverage, pharmaceutical, and water & wastewater management industries. The global electric heat tracing market is expected to grow with a CAGR of 8% from 2021 to 2026. The major drivers for this market are increasing demand for energy efficient heat tracing system and growing adoption of electric heat tracing system over conventional steam tracing system.
To download report brochure, please go to www.lucintel.com/electric-heat-tracing-market.aspx and click "download brochure" tab from the menu.
In this market, different types of electric heat tracing, such as self-regulating, constant wattage, mineral insulated, and skin effect, are used in a wide range of industries. Self regulating will remain the largest segment, as they are energy efficient and increases power as the temperature drops.
Within the electric heat tracing market, oil and gas will remain the largest end use industry during the forecast period due to their wide usage in various applications, such as process temperature maintenance, viscosity control, and freeze protection.
North America will remain the largest region during the forecast period due to strict regulations on industrial safety and high preference for energy efficient heat tracing solutions.
nVent, Thermon, Spirax-Sarco Engineering, NIBE Industrier, Danfoss, BriskHeat; Parker Hannifin, Urecon, and BARTEC are among the major electric heat tracing manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric heat tracing market by type, end use industry, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Electric Heat Tracing Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric heat tracing market by type, end use industry, application, and region as follows:
By Type [$M shipment analysis for 2015 – 2026]:
Self-Regulating
Constant Wattage
Mineral Insulated
Skin Effect
By End Use Industry [$M shipment analysis for 2015 – 2026]:
Oil & Gas
Chemicals
Commercial
Residential
Power & Energy
Food & Beverages
Pharmaceuticals
Water & Wastewater Management
Others
By Application [$M shipment analysis for 2015 – 2026]:
Freeze Protection & Process Temperature Maintenance
Floor Heating
Roof & Gutter De-Icing
Others
By Region [$M shipment analysis for 2015 – 2026]:
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Asia Pacific
China
Japan
India
South Korea
The Rest of the World
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.