Self-Regulating Heating Cable Market 2020: Global Industry Analysis, Business Growth Scenario, Future Demand with Top Key Players Eltherm, Heat Trace Limited, Nvent Electric, Spirax-Sarco Engineering and Thermon Industries

According to our latest market study on “Self-Regulating Heating Cable Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Application (Freeze Protection & Process Temperature Maintenance, Floor Heating, Roof & Gutter De-Icing, and Others) and Vertical (Oil & Gas, Chemicals, Energy & Power, Commercial, Residential, and Others),” the market was valued at US$ 917.42 million in 2019 and is projected to reach US$ 1,615.58 million by 2027; it is expected to grow at a CAGR of 7.5% from 2020 to 2027. The report highlights key factors driving the market growth, and prominent players with their developments in the market.

Globally, the self-regulating heating cable market is heavily fragmented with a significantly strong presence of several local as well as regional market players across Asia, especially China and India. However, the global market comprises a few prominent market players, such as Heat Trace Limited, Nexans Norway AS, Event Electric PLC, Spirax-Sarco Engineering, SST GmbH, Thermon Industries, Inc., Chromalox (Spirax-Sarco Engineering plc), nVent Electric plc, and NIBE Group. These players continue to dominate the global market with strong competitive positioning, notable customer base, brand recognition, and geographical reach, to name a few factors. Several market players have a dominating position and market share in their respective countries or regions. The self-regulating heating cable has the profound scope of commercial, residential, and industrial application the demand from end-user industries as well as industry vertical continue to power the growth of the global market. Furthermore, the growing end-user industries worldwide, especially across the APAC and MEA regions, are projected to witness a more lucrative market growth rate and subsequently provide numerous profitable business opportunities for the market players during the coming years.

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Geographically, the developed regions, such as North America and Europe, continue to dominate the global market owing to the cold weather conditions and steady demand for floor heating, roof & gutter de-icing, and temperature maintenance from their commercial, industrial and residential end-users. As a result, North America and Europe collectively accounted for 66.1% of the global market share in 2019, with Europe leading the global market with 39.5% of the total market share in 2019. Huge demand for heat tracing solutions and systems from the considerably large industrial, commercial, and residential end-user base has contributed significantly in the region’s early adoption of the products.

However, in terms of growth rate, the APAC and MEA regions are poised to provide lucrative business growth opportunities for the market players owing to their fast-growing industrial end-users. For instance, countries, such as China, India, Saudi Arabia, Nigeria, and Turkey, are swiftly adopting advanced materials and solutions—including self-regulating heating cable—to modernize their existing industrial infrastructure to support the growing demand from end-users. Hence, the APAC and MEA regions are anticipated to witness CAGRs of 8.9% and 8.2%, respectively, during the forecast period.

The proposed Self-Regulating Heating Cable Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes a detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.

The Self-Regulating Heating Cable Market sample report includes an exclusive analysis of the COVID-19 pandemic on the market space under scrutiny. The sample represents the format of the overall study which is designed to provide clarity on the structure of the report and some data points demonstrated in an attempt to provide insights into the study quality.

Furthermore, the Self-Regulating Heating Cable Market full research study is designed on account of the fact that each segment is individually assessed and then collated to form the whole market, the study can be tailor-made to fit your exact requirements.

The Structure of The Self-Regulating Heating Cable Market Report Can Be Categorized into the Following Sections:

Section 1: Scope of the Report & Research Methodology

Section 2: Key Takeaways

Section 3: Market variables & their impact on growth and analytical tools providing High-Level Insights into the Market Dynamics and Growth Pattern

Section 4: Market Estimates and Forecasts (with the base year as 2019, historic information of 2016 & 2018 and forecast from 2020 to 2027). Regional and Country Level Estimates and Forecasts for each category are summed up to form the Global Market.

Section 5: Competitive Landscape. Attributes such as Strategy Framework, Competitor Categorization are included to provide elaborate details on the Market Structure & Strategic Undertakings as well as their impact.

The Prominent/Emerging Players In The Self-Regulating Heating Cable Market Research Include:

BARTEC TOP HOLDING GMBH
DANFOSS A/S
ELTHERM GMBH
EMERSON ELECTRIC CO.
HEAT TRACE LIMITED
NEXANS NORWAY AS
NVENT ELECTRIC PLC
SPIRAX-SARCO ENGINEERING
SST GMBH
THERMON INDUSTRIES, INC.

The Self-Regulating Heating Cable Market Company Profiles are individually represented for all major participants and indices such as Financial Performance, Strategic Initiatives, Product Portfolio & Company Overview.

Growing Usage of Self-Regulating Heating Cables in Construction Industry

The construction industry recently gained momentum after weak growth over the past few years. The number of commercial buildings is increasing at an unprecedented rate owing to which self-regulating heating cables are widely utilized in the construction industry for pipe freezing protection and to maintain the temperature of the equipment. Growing population across the world is also bolstering the growth of the construction industry; for instance, according to the United Nations, the worldwide population stood at 7.6 billion in 2017, and it is expected to reach 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100. The countries in the APAC and MEA regions have accounted for a large number of residential construction projects in recent years owing to the rapid increase in the population.

Companies operating in the global self-regulating heating cables market are focusing on collaborations to make their products available in developing and developed regions. For instance, 3M Canada, a Chemicals Company based in Canada, partnered with Thermon Manufacturing Company, a US-based company, to promote the commercial line of self-regulating heating cable products manufactured by Thermon Manufacturing Company. The agreement offered 3M Canada the rights to offer various distinct products within Canada.

Self-regulating heat tracing cables have the ability to adjust their output to the nearby temperature. This flexibility offers more heat where required and mitigates energy consumption as the ambient temperature surges, thereby eliminating heating costs. These cables are used for various construction industry applications, such as metallic or non-metallic piping tanks and equipment, sewage pipes, intake and drain lines, and water pipes, in unheated areas. Thus, the rising usage of these cables in the construction sector is expected to propel the growth of the self-regulating heating cables market in the coming years.

Company Overview:

Company overview provides information about the location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating, and the key business areas.

Financial Performance:

Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the subtitle “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (SBUs) and others.

Product Benchmarking:

Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.

Strategic Initiatives:

Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in the market are covered under the strategic initiatives section.

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The Self-Regulating Heating Cable Market research study is designed to keep in focus all the major countries. Although all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries that are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.

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