Electric Heat Tracing Market to Witness the Highest Growth in North America Region

The Electric Heat Tracing market is projected to grow from USD 2.5 Billion in 2022 to USD 3.8 Billion in 2027; it is expected to grow at a CAGR of 8.3% from 2022 to 2027. The growth of the market is attributed to the increasing adoption of electric heat tracing systems over conventional steam tracing systems, the rising demand for energy-efficient electric heat tracing systems, and low maintenance cost of electric heat tracing systems are the factors driving the growth of the electric heat tracing market.

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Self-regulating electric heat tracing type to grow at highest CAGR during the forecast period

In self-regulating heat tracing systems, heating cables are designed and built to regulate their output according to the requirements. The heat output is automatically adjusted in response to the increase or decrease of ambient temperatures. In a self-regulating heating cable, the electric current is passed between two bus wires that carry electricity but do not produce heat. The bus wires are encased in a specially designed mix of carbon and polymer. The polymer pathways join the bus wires together creating an infinitely parallel circuit. Self-regulating heating cables are ideal for temperature maintenance and frost-prevention installations because they produce more heat in cold and conversely less heat in warm conditions. Therefore, the market for self-regulating heat tracing cables is expected to hold the largest share as well as grow at the highest CAGR during the forecast period.

Freeze protection & process temperature maintenance to hold largest market share during forecast period

Freeze protection and process temperature maintenance applications are expected to hold the largest market share during the forecast period. In cold locations, thermal insulation alone cannot prevent fluids in the pipe from freezing. The main purpose of the freeze protection application is to prevent fluids, such as process water, drain water, and fire water from freezing in pipes. An electric heat tracing system is designed to provide pipe freeze protection that can prevent the freezing of fluids in pipes for a variety of industrial, commercial, and residential applications and also for hazardous, non-hazardous, and steam cleanable areas. The self-regulating cable is primarily used for pipe freeze protection applications.

Oil & Gas to grow at a highest CAGR during the forecast period

The electric heat tracing market for the oil & gas industry is expected to grow at a highest CAGR during the forecast period. The oil & gas industry use electric heat tracing for various applications such as freeze protection, viscosity controls, temperature maintenance, etc. The heat tracing maintain the temperature or viscosity of the fluid and preventing the components from seperating or gases from condensing. Therefore, in oil & gas industry, heat tracing is used to prevent the pipes, vessels and tanks from freezing in the cold region and maintain the process temperature in different ranges as per the requirement.

Market in North America to grow significantly during the forecast period

The electric heat tracing market in North America is expected to grow significantly during the forecast period. North America is the coldest region compared to Asia Pacific and the Middle East & Africa; therefore, there is an increasing demand for electric heat tracing to prevent pipes and vessels from freezing. Electric heat tracing finds increasing adoption in these countries for applications such as freeze protection, roof & gutter de-icing, and floor heating. The US is expected to be the major contributor to the electric heat tracing market in North America. The presence of major players in the US is expected to drive the electric heat tracing market growth in this region.

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The key players in the Electric heat tracing market include nVent Electric plc (UK), Thermon Group Holding, Inc. (US), Spirax-Sarco Engineering plc (UK), NIBE Industrier AB (Sweden), BARTEC Top Holding GmbH (Germany), Danfoss (Germany), eltherm GmbH (Germany), Emerson Electric Co. (US), Watlow Electric Manufacturing Company (US), Drexan Energy System, Inc. (Canada)

News also covered: https://www.prnewswire.com/news-releases/electric-heat-tracing-market-worth-3-8-billion-in-2027--exclusive-report-by-marketsandmarkets-301616989.html