Market Overview

Electric Heat Tracing Market - Forecasts from 2018 to 2023: Key Players are Spirax-Sarco Engineering, Danfoss, eltherm GmbH, BriskHeat, Parker Hannifin and nVent - ResearchAndMarkets.com

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The "Electric
Heat Tracing Market - Forecasts from 2018 to 2023"
report has
been added to ResearchAndMarkets.com's offering.

Electric heat tracing market is expected to witness a CAGR of 4.70%
during the forecast period to reach a total market value of US$2.476
billion by 2023, increasing from US$1.880 billion in 2017.

Rapidly growing industries like chemical, oil and gas, food and beverage
and others are the major drivers for this market. Increasing concerns
regarding energy conservation across industries are augmenting the
demand for energy efficient heat tracing systems, thus boosting the
market growth.

Furthermore, increasing focus of industry players towards reducing
costs, enhancing productivity and improving margins is also fuelling the
adoption of these systems among, thereby contributing to the market
growth.

Geographically, North America holds a significant share in this market
on account booming oil and gas industry in this region. Middle East and
Africa, and Asia Pacific regions also hold a decent share of the
electric heat tracing market. Flourishing oil and gas industry in Middle
East and Africa and rising number of manufacturing facilities in Asia
Pacific are the major factors driving the market growth in these regions.

Major industry players profiled as part of the report are Spirax-Sarco
Engineering plc, Danfoss, eltherm GmbH, BriskHeat, Parker Hannifin Corp
and nVent among others.

Segmentation:

By Type of Heating Cable

  • Self-Regulating Heating Cables
  • Power-Limiting Heating Cable
  • Parallel Constant Watt Heating Cable
  • Series Constant Watt Heating Cables

By Method

  • Electric Resistance Heat Tracing
  • Skin Effect Tracing
  • Impedance Heat Tracing
  • Induction Heating

By End-User Industry

  • Chemical
  • Food and Beverage
  • Energy and Power
  • Oil and Gas
  • Others

Companies Mentioned

  • Spirax-Sarco Engineering plc
  • Danfoss
  • eltherm GmbH
  • BriskHeat
  • Parker Hannifin Corp
  • nVent
  • Bartec
  • Raychem RPG

For more information about this report visit https://www.researchandmarkets.com/research/x5b9lm/electric_heat?w=4

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