Electric Heating Cable Market Size, Share & Industry Analysis, By Type (Self Regulated Heating Cable, Constant Wattage Heating Cable, Mineral Insulated Heating Cable, Skin Effect Heating Cable), By Application (Industrial, Residential, Commercial) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The global electric heating cable market size is expected to gain momentum during the forecast period. Electric heat tracing is a system that is used to retain or hoist the temperature of objects like pipes and vessels using electric heating cables. Electric heating cables are wire cables that generate heat using electricity and are often referred as trace heating cables. It has wide range of industrial applications like heat loss replacement, viscosity control, freeze protection, pipe tracing, temperature maintenance and other. Heating cable systems are designed to provide protection from the low temperature problems. Particularly designed heating cables systems are used to keep walkways and driveways free from ice that avoid pedestrian accidents and reduces time and efforts to clear the ice from the roads.
The increasing demand for the electric heating cables for industrial applications is likely to drive the market. In laboratories, researchers who work for materials science use these heating systems to heat a sample of the matter isotropically. They use trace heating and control the heat energy transfer. Trace heating is an efficient way of slow heating an entity to compute thermodynamic properties like thermal expansion. The increasing usage of the heaters, de-freezing kits, trace heating in industries for heat loss replacement, temperature control, and viscosity control shall foster the demand for trace heating substantially increasing the demand for electric heating cables.
Key Market Driver -
Increasing demand from residential and commercial sectors.
Key Market Restraint -
Overheating and fire accidents.
However, overheating can lead to circuit breaks and fire accidents which at times can cause sebvere damage and large fires. This is likely to hamper the market growth for the electric heating cables market.
Market Segmentation:
Based on type, the market is segmented into self regulated heating cable, constant wattage heating cable, mineral insulated heating cable, and skin effect heating cable. Based on application, the market is segmented into industrial, residential, and commercial.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global electric heating cable market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the electric heating cable industry includes SST Group, Thermon Inc., Bartec, Raychem Corporation, Emerson Electric Co., AnBang Electric Corp, and Others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Electric Heating Cable Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Electric Heating Cable Industry
Regional Analysis:
The electric heating cable market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the largest share in market attributed to the increasing demand from commercial and residential sector. Europe is the second largest electric heating cable market for the electric heating cable due to the cold climatic condition in the european region. Asia Pacific is expected to grow moderately due to the industrialization in emerging countries like China, India, and South Korea. Latin America & Middle East & Africa is expected to show sluggish growth by the end of forecast period, due to the hot and dry climatic condition of the tropical region.
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Electric Heating Cable Market Segmentation
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Electric Heating Cable Industry Developments
- In July 2018, nVent, a global manufacturer of electrical connection and protection solution acquired SevKabel, a St Petersburg based cable manufacturer to expand its presence in Russia by launching its first production line in St Petersburg.
- In October 2018, SST Group opened its international office in Dubai to strengthen its presence in the Middle East, as a response to the increasing demand for the heat tracing cables that are widely used in the Oil & Gas, Petroleum and chemical industries.
- Ongoing
- 2023
- 2019-2022
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