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Global Electric Heat Tracing Market (2023-2028) Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession, Ansoff Analysis

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  • 180 Pages
  • February 2024
  • Region: Global
  • Infogence Global Research
  • ID: 5451212

The oil and gas industry is one of the biggest end-users of electric heat tracing systems

The Global Electric Heat Tracing Market is estimated to be USD 2.08 Bn in 2023 and is expected to reach USD 3.07 Bn by 2028 growing at a CAGR of 8.12%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentations

  • The Global Electric Heat Tracing Market is segmented based on Components, Type, Temperature, Applications, Verticals, and Geography.
  • By Components, the market is classified into Control and Monitoring Systems, Electric Heat Tracing Cables, Power Connection Kits, and Thermal Insulation Materials.
  • By Type, the market is classified into Constant Wattage, Mineral-Insulated, Self-Regulating, and Skin Effect.
  • By Temperature, the market is classified into 101°C to 250°C, Above 250°C, and Up to 100°C.
  • By Applications, the market is classified into Freeze Protection & Process Temperature Maintenance, Roof & Gutter De-Icing, Floor Heating, and Others.
  • By Verticals, the market is classified into Oil & Gas, Chemicals Commercial, Residential, Food & Beverages, Power & Energy, and Others.
  • By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Danfoss A/S, Drexan Energy Systems, Inc., Drexma Industries Inc., Ebeco AB, eltherm GmbH, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

  • The report presents a detailed Ansoff matrix analysis for the Global Electric Heat Tracing Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
  • The publisher analyses the Global Electric Heat Tracing Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
  • Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Electric Heat Tracing Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Surging Demand from the Industrial, Commercial and Residential Applications
4.1.2 Increasing Adoption of Electric Heat Tracing Systems Over Conventional Steam Tracing
4.1.3 Rising Investment in the Development of Oil & Gas Pipeline Infrastructure
4.2 Restraints
4.2.1 Thermal Inconsistencies in Electric Heat Tracing Systems
4.3 Opportunities
4.3.1 Rising Adoption of Heat Tracing System in Power Plants and Pharmaceutical & Chemical Industry
4.3.2 Growing Advancements in Electric Heat Tracing Cables
4.4 Challenges
4.4.1 Installation Hazards Leading to Failure in Functioning and Shock & Fire
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 Global Electric Heat Tracing Market, By Components
6.1 Introduction
6.2 Control and Monitoring Systems
6.2.1 Resistance Temperature Detectors
6.2.2 Thermocouples
6.2.3 Thermostats
6.3 Electric Heat Tracing Cables
6.4 Power Connection Kits
6.5 Thermal Insulation Materials
7 Global Electric Heat Tracing Market, By Type
7.1 Introduction
7.2 Constant Wattage
7.3 Mineral-Insulated
7.4 Self-Regulating
7.5 Skin Effect
8 Global Electric Heat Tracing Market, By Temperature
8.1 Introduction
8.2 101°C to 250°C
8.3 Above 250°C
8.4 Up to 100°C
9 Global Electric Heat Tracing Market, By Applications
9.1 Introduction
9.2 Freeze Protection & Process Temperature Maintenance
9.3 Roof & Gutter De-Icing
9.4 Floor Heating
9.5 Others
10 Global Electric Heat Tracing Market, By Verticals
10.1 Introduction
10.2 Oil & Gas
10.3 Chemicals Commercial
10.4 Residential
10.5 Food & Beverages
10.6 Power & Energy
10.7 Others
11 Americas' Electric Heat Tracing Market
11.1 Introduction
11.2 Argentina
11.3 Brazil
11.4 Canada
11.5 Chile
11.6 Colombia
11.7 Mexico
11.8 Peru
11.9 United States
11.10 Rest of Americas
12 Europe's Electric Heat Tracing Market
12.1 Introduction
12.2 Austria
12.3 Belgium
12.4 Denmark
12.5 Finland
12.6 France
12.7 Germany
12.8 Italy
12.9 Netherlands
12.10 Norway
12.11 Poland
12.12 Russia
12.13 Spain
12.14 Sweden
12.15 Switzerland
12.16 United Kingdom
12.17 Rest of Europe
13 Middle East and Africa's Electric Heat Tracing Market
13.1 Introduction
13.2 Egypt
13.3 Israel
13.4 Qatar
13.5 Saudi Arabia
13.6 South Africa
13.7 United Arab Emirates
13.8 Rest of MEA
14 APAC's Electric Heat Tracing Market
14.1 Introduction
14.2 Australia
14.3 Bangladesh
14.4 China
14.5 India
14.6 Indonesia
14.7 Japan
14.8 Malaysia
14.9 Philippines
14.10 Singapore
14.11 South Korea
14.12 Sri Lanka
14.13 Thailand
14.14 Taiwan
14.15 Rest of Asia-Pacific
15 Competitive Landscape
15.1 Competitive Quadrant
15.2 Market Share Analysis
15.3 Strategic Initiatives
15.3.1 M&A and Investments
15.3.2 Partnerships and Collaborations
15.3.3 Product Developments and Improvements
16 Company Profiles
16.1 BARTEC GmbH
16.2 Danfoss A/S
16.3 Drexan Energy Systems, Inc.
16.4 Drexma Industries Inc.
16.5 Ebeco AB
16.6 eltherm GmbH
16.7 Emerson Electric Co.
16.8 Ives Equipment, Inc.
16.9 King Electric Co.
16.10 Nexans SA
16.11 NIBE Industrier AB
16.12 nVent Electric PLC
16.13 Parker Hannifin Corp.
16.14 SST Group
16.15 Spirax-Sarco Engineering PLC
16.16 Trasor Corp.
16.17 Thermon Group Holdings, Inc.
16.18 Warmup PLC
16.19 Watlow Electric Manufacturing Co.
16.20 Wuhu Jiahong New Materials Co., Ltd.
17 Appendix
17.1 Questionnaire

Companies Mentioned

  • Danfoss A/S
  • Drexan Energy Systems, Inc.
  • Drexma Industries Inc.
  • Ebeco AB
  • eltherm GmbH
  • Emerson Electric Co.
  • Ives Equipment, Inc.
  • King Electric Co.
  • Nexans SA
  • NIBE Industrier AB
  • nVent Electric PLC
  • Parker Hannifin Corp.
  • SST Group
  • Spirax-Sarco Engineering PLC
  • Trasor Corp.
  • Thermon Group Holdings, Inc.
  • Warmup PLC
  • Watlow Electric Manufacturing Co.
  • Wuhu Jiahong New Materials Co., Ltd.

Table Information