DUBLIN--(BUSINESS WIRE)--The "Electric Heat Tracing Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
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% between 2017 and 2023.
The growing demand for heat tracing systems from several industries such as oil & gas, chemicals, and power & energy, increasing demand for energy-efficient self-regulating cables, replacement of steam heat tracing with electric heat tracing systems are some driving factors for the growth of the electric heat tracing market, while devastating effects of overlapping of heating cables restrains the growth of the electric heat tracing market.
Self-regulating cables are most widely used for various applications such as freeze protection and process temperature maintenance, floor heating, and roof and gutter. These cables are easy to install as they can be cut to any length in the field or during the design process, minimizing waste and increasing installation flexibility since the heating circuit is infinitely parallel. Hence, self-regulating cables are more energy-efficient cables than any other type of cables.
Oil & gas held the largest share of the electric heat tracing market in 2016. In the oil & gas industry, heat tracing systems are used for various purposes, namely offshore and onshore drilling, downhole heating in midstream processing plants. The increase in projects of new pipelines and expansion of old pipelines provide opportunities to the players in the heat tracing system market. Moreover, many end-user industries are replacing conventional systems, such as steam tracing, with electric heat tracing systems as they more energy-efficient, which is one of the major driving factors for the market growth.
- Anhui Huanrui
- Drexma Industries
- Heat Trace
- Heat Trace Products
- IVES Equipment
- SST Group
- Startup Ecosystem
- Wuhu Jiahong
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electric Heat Tracing Market, By Type
7 Electric Heat Tracing Market, By Application
8 Electric Heat Tracing Market, By Vertical
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/3vrnh5/electric_heat