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2022
Self-regulating Heating Cables Market

Self-Regulating Heating Cables Market by Vertical (Oil & Gas, Chemicals, Energy & Power, Commercial, Residential, and Others) and Application (Freeze Protection & Process Temperature Maintenance, Floor Heating, Roof & Gutter De-Icing, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Jul 2022 | 209 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Self-regulating heating cables are popularly known as heat trace cable or heating tape. Owing to a positive temperature coefficient heating matrix, these cables are intrinsically temperature safe. Hence, temperature control system is usually not required to deliver temperature safety. The previously available self-regulating heating cables can withstand low or moderate temperatures. However, at present, medium or high temperature-based cables are also available in the market, which can withstand temperature up to 300°C. Thus, these cables are widely used in various industrial applications where they can endure high temperatures. Increase in adoption of electric heat tracing systems over conventional steam tracing systems is one of the primary factors driving market growth. Moreover, the rise in demand for energy efficient heat tracing systems is expected drive the demand for these products in the near future.

However, heating cables should not touch, crossover, and overlap themselves after the installation as overlapping of cables results in overheating and burnout and can damage the heat tracing system beyond repair. This factor is a major hindrance for the market growth.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Vertical, Application, and Region

  Companies Covered

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, and Thermon Industries, Inc.

 

COVID-19 Impact Analysis 

  • The coronavirus's unfavorable global effects are already evident, and had a big impact on the self-regulating heating cables market in 2020.
  • The World Health Organization declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths globally. Exports & imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
  • The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
  • Since the pandemic, the restriction of imports and exports has affected the self-regulating heating cables market to a great extent as consumers’ consumption and demand patterns are changing amidst the pandemic. 

Top Impacting Factors

The oil & gas industry has been experiencing tremendous growth globally. Also, various construction and electrical projects are in line, especially in the Southeast Asian countries. Thus, the need for better-conducting channels in various industries offers future growth opportunities for market players operating in the global self-regulating heating cables market. The growth prospects of the self-regulating heating cable market are primarily attributed to introduction of advanced products by the self-regulating heating cable manufacturers. 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. The cable is 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, rising usage of these cables in the construction sector is expected to fuel the growth of the global self-regulating heating cables market in the coming years.


Market Trends

  • Growing Usage of Self-Regulating Heating Cables in Construction Industry
  • The number of commercial buildings increases 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 globally boosts the growth of the construction industry. Companies operating in the global self-regulating heating cables market are focusing on collaborations to make their products available in developing and developed regions.
  • Increase in Adoption of Electric Heat Tracing Systems over Conventional Steam Tracing Systems
  • Electric heat tracing is a technique through which the temperature of pipes, vessels, tanks, or equipment is maintained by using an electrically-heated cable. Initially, steam tracing was used more often than electric heat tracing to protect pipes from freezing and to maintain a constant flow of temperature for piping that transports substances that can solidify at ambient temperatures. However, steam tracing is not generally recommended for use with non-metal or lined piping and vessels. In addition, steam tracing has some limitations such as the leakage of steam, poor temperature control resulting in overheating, high operating costs, the requirement for routine maintenance, and high hot water system costs.
  • Rising Adoption of Heat Tracing Systems in Power Plants
  • Electric heat tracing systems are finding increasing demand from power plants. Plant elements requiring supplemental heat include pipes, valves, conveyors, lubrication systems, and lubricants that run through them. Some plant elements also require supplemental heat to maintain critical temperature levels during shutdown periods, such as cold weather shutdowns. Heat tracing cables are used along pipes and throughout other power plant systems, including cooling towers, as well as at many transfer points located in coal yards. Electric heat tracing systems are designed to deliver the heat required to maintain optimal operating temperatures and prevent freezing.
     

 

Key Benefits of Report

  • This study presents the analytical depiction of the self-regulating heating cables industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the self-regulating heating cables market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the self-regulating heating cables market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed self-regulating heating cables market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in Self Regulating Heating Cables Market Report

  • Who are the leading market players active in the self-regulating heating cables market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
By Vertical
  • Oil & Gas
  • Chemicals
  • Energy & Power
  • Commercial
  • Residential
  • Others
By Application
  • Freeze Protection & Process Temperature Maintenance
  • Floor Heating
  • Roof & Gutter De-Icing
  • Others
By REGION
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 
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