Press release
Global Heating Cable Market Forecast and Segments, 2018 to 2027
Nevertheless, the ever-evolving field of electrical heat tracing is facilitating the burgeoning global demand for heat cables, thereby playing a key role in the development of the heating cable market. Manufacturers in the heating cable market are developing reliable and high-quality electrical heating systems with heating cables manufactured using state-of-the-art technologies.
The positive growth prospects of the heating cable market are mainly attributed to the heating cable manufacturers introducing more resilient products and innovative services. Leading players in the heat cable market are focusing more on the specific end-user requirements associated with heat process piping and heat management systems.
Designing heating cables to suit individual end-user requirements is emerging as a popular trend in the heating cable market. Stakeholders in the heating cable market are investing more in research & development to launch the most efficient and economical heating cables to deliver apt heating solutions for residential as well as commercial end-users.
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Heating Cables to Witness Steady Demand in Construction and Oil & Gas Industries
Heating cables or trace heat cables or heat tape are generally used for applications such as freeze protection, pipe heat tracing, viscosity control, temperature maintenance, anti-condensation, roof & roof gutter heating, and preventing cavitation. These applications can be residential, commercial, or industrial, and thus present broader opportunities in multiple industries, including pharmaceutical, petrochemical, oil & gas, power generation, food processing, and several other refineries.
Heating cables are broadly classified into two types, constant wattage heating cables and self-regulating heating cables. These categories are based on power supply and temperature variation. Constant wattage cables are composed of multiple constant electric power zones, whereas self-regulating heat cables have controlled power supply to the points across defined lengths of the cable. According to the end-user application, a specific type of heating cable is used. Further, manufacturers follow international standards, including IEEE standards 515 and 622, British standard BS 6351, and IEC standard 60208 in the design and installation of electric trace heating systems.
Construction Sector to Present Huge Demand for Heating Cables
Heating cables or trace heat tape is extensively used in residential construction, particularly in water pipes, flooring, roofs, windows, and in door and frame interfaces. They are usually installed with the intention of freezing protection and temperature maintenance. Particularly in colder regions where extreme temperatures obstruct water flow or burst pipes, electric freeze protection systems are installed. In roofs and gutters, these cables are installed for de-icing. In windows and other glass doorways, they are installed for de-misting or removal of condensation. Further, electric surface snow melting systems are installed in ramps, access ways, and footpaths for snow removal.
In addition, manufacturers have introduced heating solutions for concrete curing, especially for colder regions. For instance, Oglaend System has introduced concrete curing and frost protection solutions for regions such as Norway, where concrete construction becomes difficult during winter temperature that reaches -10oC.
Oil & Gas Industry Seeks Innovative Heating Solutions
The oil & gas industry consistently improves processing as well as extraction methods to enhance production efficiency. Differences in onshore as well as offshore environments present new challenges to the industry, such as smaller extraction fields with complex fluids and transportation of multiphase production over long distances. Failure to appropriately address these challenges can lead to significant intervention costs and substantial production revenue losses. On account of this, active heating technologies are widely accepted in onshore applications, whereas, subsea pipeline electrical heating and self-regulating heating systems are more popular in offshore applications to manage flow assurance. With declining oil & gas resources, efficient extraction and processing is a primary concern. For this, the demand for heating cable systems is projected to remain steady in the oil & gas industry.
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Self-Regulating Cables to Dominate the Global Market
Due to the energy efficiency of self-regulating heating cables, their popularity outweighs the demand for constant heating cables, and hence, a majority of manufacturers offer self-regulating heating solutions. They are installed for a variety of applications in residential homes as well as commercial buildings. Further, self-regulating heating cables are highly effective against frost damage in pipework, and safer due to controlled heating. In addition, self-regulating systems are also installed at roof gutters, stairways, walkways, and other snow-exposed construction objects. Owing to such high demand, manufacturers have introduced flexible and versatile self-regulating freeze protection systems with reduced operational costs.
Key Company Developments
Thermon Group Holdings, Inc. completed the acquisition of Thermal Technologies, Inc. in 2017. As Thermon is a word leader of highly engineered thermal solutions, this acquisition will expand its existing product portfolio and production capacities of heating solutions.
nVent Electric Plc. recently completed its separation from Pentair Plc., and has launched itself as a separate business entity, which is a leader of heating solutions, including electric heat trace solutions.
Key companies in the global heating cable market include Raychem, SST, Thermon, Bartec, Wuhu Jiahong, Anhui Huanrui, Emerson, Anbang, Anhui Huayang, and Eltherm, among others.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology
Regional Segments Analyzed Include
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
Elaborated scenario of the parent market
Transformations in the market dynamics
Detailed segmentation of the target market
Historical, current and forecast market size based on value and volume
Latest industry developments and trends
Competition landscape
Strategies adopted by the market players and product developments made
Potential and niche segments, along with their regional analysis
Unbiased analysis on performance of the market
Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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