Electric Heat Tracing Market by Type (Self-Regulating, Constant Wattage, Mineral-Insulated, Skin Effect), Application, Vertical (Oil & Gas, Commercial, Power & Energy, Residential, Food & Beverages) and Geography - Global Forecast to 2023

 Published On: Nov, 2017 |    No of Pages: 157 |  Published By: MarketsandMarkets | Format: PDF
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Electric heat tracing market expected to grow at a CAGR of 5.3% between 2017 and 2023

The electric heat tracing (EHT) market is expected to be worth USD 2.39 billion in 2017 and is expected to reach USD 3.26 billion by 2023, at a CAGR of 5.3% between 2017 and 2023. The growing demand for heat tracing systems from several industries such as oil & gas, chemicals, and power & energy, increasing demand for energy-efficient self-regulating cables, replacement of steam heat tracing with electric heat tracing systems are some driving factors for the growth of the electric heat tracing market, while devastating effects of overlapping of heating cables restrains the growth of the electric heat tracing market.

Electric heat tracing market for self-regulating cables expected to grow at the highest CAGR during the forecast period

The market for self-regulating cables is expected to grow at the highest CAGR between 2017 and 2023.

Self-regulating cables are most widely used for various applications such as freeze protection and process temperature maintenance, floor heating, and roof and gutter. These cables are easy to install as they can be cut to any length in the field or during the design process, minimizing waste and increasing installation flexibility since the heating circuit is infinitely parallel. Hence, self-regulating cables are more energy-efficient cables than any other type of cables.

Oil & gas vertical held the largest share of the electric heat tracing market in 2016

Oil & gas held the largest share of the electric heat tracing market in 2016. In the oil & gas industry, heat tracing systems are used for various purposes, namely offshore and onshore drilling, downhole heating in midstream processing plants. The increase in projects of new pipelines and expansion of old pipelines provide opportunities to the players in the heat tracing system market. Moreover, many end-user industries are replacing conventional systems, such as steam tracing, with electric heat tracing systems as they more energy-efficient, which is one of the major driving factors for the market growth.

Electric heat tracing market in North America expected to grow at the highest CAGR during the forecast period

The electric heat tracing market in North America is expected to grow at the highest CAGR between 2017 and 2023. In North America, the US is expected to continue to be a major contributor to the electric heat tracing market in the near future. Most industries such as oil & gas, power & energy, chemicals in the US require heat tracing systems for freezing prevention and proper fluid temperature maintenance applications.
 
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:

• By Company Type: Tier 1 – 33%, Tier 2 – 44%, and Tier 3 – 23%
• By Designation: C-Level Executives – 36%, Directors – 42%, and Others – 22%
• By Region: North America – 44%, Europe – 35%, APAC – 12%, and RoW – 9%

Major players operating in the electric heat tracing market are Pentair (UK), Thermon (US), BARECT (Germany), Chromalox (US), Emerson (US), BriskHeat (US), eltherm (Germany), Parker-Hannifin (US), Heat Trace Products (UK), Danfoss (Denmark), and Warmup (UK).

Research Coverage:

The report defines, describes, and forecasts the electric heat tracing market on the basis of type, application, vertical, and geography. It provides detailed information regarding major factors influencing the growth of the electric heat tracing market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes competitive developments such as product launches and developments, collaborations, agreements, contracts, partnerships, acquisitions, and expansions carried out by key players to grow in the market.

Reasons to Buy the Report:

• Illustrative segmentation, analysis, and forecast pertaining to the electric heat tracing market based on type, application, vertical, and geography have been conducted to provide an overall view of the market.
• Major drivers, restraints, opportunities, and challenges for the electric heat tracing market have been detailed in this report.
• The report includes a detailed competitive landscape of the key players in the market and their revenues.
TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 STUDY SCOPE 15
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY 16
1.5 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 19
2.1.1.1 Major secondary sources 19
2.1.1.2 Secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Primary interviews with experts 20
2.1.2.2 Breakdown of primaries 20
2.1.2.3 Primary sources 21
2.1.2.4 Key industry insights 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 25
2.4 RESEARCH ASSUMPTIONS 26

3 EXECUTIVE SUMMARY 27

4 PREMIUM INSIGHTS 31
4.1 ELECTRIC HEAT TRACING MARKET 31
4.2 ELECTRIC HEAT TRACING MARKET, BY TYPE 31
4.3 NORTH AMERICAN ELECTRIC HEAT TRACING MARKET, BY VERTICAL AND COUNTRY 32
4.4 ELECTRIC HEAT TRACING MARKET: GEOGRAPHIC SNAPSHOT 33
4.5 ELECTRIC HEAT TRACING MARKET, BY VERTICAL 33

5 MARKET OVERVIEW 34
5.1 INTRODUCTION 34
5.2 MARKET DYNAMICS 34
5.2.1 DRIVERS 35
5.2.1.1 Increasing adoption of electric heat tracing systems over conventional steam tracing systems 35
5.2.1.2 Rising demand for energy-efficient electric heat tracing systems 35
5.2.1.3 Low maintenance cost 36
5.2.2 RESTRAINTS 36
5.2.2.1 Devastating effects of overlapping of heating cables 36
5.2.3 OPPORTUNITIES 37
5.2.3.1 Growing demand for heat tracing systems from various end-user industries 37
5.2.3.2 Growing adoption of heat tracing systems in power plants 37
5.2.4 CHALLENGES 38
5.2.4.1 Installation of heat tracing systems for tanks and large vessels 38
5.3 COMPONENTS OF ELECTRIC HEAT TRACING SYSTEM 38
5.3.1 ELECTRIC HEAT TRACING CABLE 38
5.3.2 POWER CONNECTION KIT 38
5.3.3 CONTROL AND MONITORING SYSTEM 38
5.3.4 THERMAL INSULATION MATERIAL 39
5.3.5 OTHERS 39

6 ELECTRIC HEAT TRACING MARKET, BY TYPE 40
6.1 INTRODUCTION 41
6.2 SELF-REGULATING 42
6.3 CONSTANT WATTAGE 44
6.4 MINERAL–INSULATED 45
6.5 SKIN EFFECT 46

7 ELECTRIC HEAT TRACING MARKET, BY APPLICATION 47
7.1 INTRODUCTION 48
7.2 FREEZE PROTECTION 49
7.3 VISCOSITY CONTROL 49
7.4 PROCESS TEMPERATURE MAINTENANCE 50
7.5 ROOF AND GUTTER 50
7.6 FLOOR HEATING 50
7.7 OTHERS 50

8 ELECTRIC HEAT TRACING MARKET, BY VERTICAL 51
8.1 INTRODUCTION 52
8.2 OIL & GAS 53
8.3 CHEMICALS 56
8.4 COMMERCIAL 59
8.5 RESIDENTIAL 61
8.6 POWER & ENERGY 62
8.7 FOOD & BEVERAGES 64
8.8 WATER & WASTEWATER MANAGEMENT 65
8.9 OTHERS 66

9 GEOGRAPHIC ANALYSIS 68
9.1 INTRODUCTION 69
9.2 NORTH AMERICA 71
9.2.1 US 79
9.2.2 CANADA 80
9.2.3 MEXICO 81
9.3 EUROPE 81
9.3.1 RUSSIA 89
9.3.2 GERMANY 90
9.3.3 UK 90
9.3.4 FRANCE 91
9.3.5 REST OF EUROPE 91
9.4 ASIA PACIFIC 91
9.4.1 CHINA 99
9.4.2 JAPAN 99
9.4.3 SOUTH KOREA 99
9.4.4 REST OF APAC 100
9.5 ROW 100
9.5.1 LATIN AMERICA 104
9.5.2 MIDDLE EAST & AFRICA 104

10 COMPETITIVE LANDSCAPE 105
10.1 INTRODUCTION 105
10.2 MARKET RANKING ANALYSIS, 2016 106
10.3 COMPETITIVE SITUATION AND TRENDS 107
10.3.1 KEY MARKET DEVELOPMENTS BETWEEN 2014 AND 2017 107
10.3.2 PRODUCT LAUNCHES/DEVELOPMENTS 108
10.3.3 CONTRACTS AND AGREEMENTS 109
10.3.4 ACQUISITIONS 109
10.3.5 EXPANSIONS 110

11 COMPANY PROFILES 111
11.1 INTRODUCTION 111 (Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View)*
11.2 KEY PLAYERS 112
11.2.1 PENTAIR 112
11.2.2 THERMON 116
11.2.3 BARTEC 119
11.2.4 CHROMALOX 121
11.2.5 EMERSON 124
11.2.6 DANFOSS 128
11.2.7 ELTHERM 131
11.2.8 BRISKHEAT 133
11.2.9 PARKER-HANNIFIN 135
11.2.10 WARMUP 138
11.3 STARTUP ECOSYSTEM 140
11.3.1 DREXAN 140
11.3.2 HEAT TRACE PRODUCTS 140
11.3.3 NEPTECH 140
11.3.4 QMAX 141
11.3.5 TECHNITRACE 141
11.4 OTHER COMPANIES 142
11.4.1 ANHUI HUANRUI 142
11.4.2 SST GROUP 142
11.4.3 EBECO 143
11.4.4 DREXMA INDUSTRIES 143
11.4.5 HEAT TRACE 144
11.4.6 IVES EQUIPMENT 144
11.4.7 PERMA-PIPE 145
11.4.8 TRACELEC 145
11.4.9 URECON 146
11.4.10 WUHU JIAHONG 146

*Details on Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.

12 APPENDIX 147
12.1 INSIGHTS FROM INDUSTRY EXPERTS 147
12.2 DISCUSSION GUIDE 148
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 151
12.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 153
12.5 AVAILABLE CUSTOMIZATION 154
12.6 RELATED REPORTS 154
12.7 AUTHOR DETAILS 155

LIST OF TABLES

TABLE 1 ELECTRIC HEAT TRACING MARKET, BY TYPE, 2015–2023 (USD MILLION) 41
TABLE 2 SELF-REGULATING ELECTRIC HEAT TRACING MARKET, BY VERTICAL, 2015–2023 (USD MILLION) 43
TABLE 3 CONSTANT WATTAGE ELECTRIC HEAT TRACING MARKET, BY VERTICAL, 2015–2023 (USD MILLION) 44
TABLE 4 MINERAL-INSULATED ELECTRIC HEAT TRACING MARKET, BY VERTICAL, 2015–2023 (USD MILLION) 45
TABLE 5 SKIN EFFECT ELECTRIC HEAT TRACING MARKET, BY VERTICAL, 2015–2023 (USD MILLION) 46
TABLE 6 ELECTRIC HEAT TRACING MARKET, BY APPLICATION, 2015–2023 (USD MILLION) 48
TABLE 7 ELECTRIC HEAT TRACING MARKET, BY VERTICAL, 2015–2023 (USD MILLION) 52
TABLE 8 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 55
TABLE 9 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL, BY REGION, 2015–2023 (USD MILLION) 56
TABLE 10 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 57
TABLE 11 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL, BY REGION, 2015–2023 (USD MILLION) 58
TABLE 12 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 59
TABLE 13 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL, BY REGION, 2015–2023 (USD MILLION) 60
TABLE 14 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 61
TABLE 15 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL, BY REGION, 2015–2023 (USD MILLION) 62
TABLE 16 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 62
TABLE 17 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL, BY REGION, 2015–2023 (USD MILLION) 63
TABLE 18 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 64
TABLE 19 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL, BY REGION, 2015–2023 (USD MILLION) 64
TABLE 20 ELECTRIC HEAT TRACING MARKET FOR WATER & WASTEWATER MANAGEMENT VERTICAL, BY TYPE, 2015–2023 (USD MILLION) 65
TABLE 21 ELECTRIC HEAT TRACING MARKET FOR WATER & WASTEWATER MANAGEMENT VERTICAL, BY REGION, 2015–2023 (USD MILLION) 66
TABLE 22 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS, BY TYPE, 2015–2023 (USD MILLION) 66
TABLE 23 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS, BY REGION, 2015–2023 (USD MILLION) 67
TABLE 24 ELECTRIC HEAT TRACING MARKET, BY REGION, 2015–2023 (USD MILLION) 70
TABLE 25 ELECTRIC HEAT TRACING MARKET IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 73
TABLE 26 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 74
TABLE 27 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 75
TABLE 28 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 76
TABLE 29 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 77
TABLE 30 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 78
TABLE 31 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 78
TABLE 32 ELECTRIC HEAT TRACING MARKET FOR WATER AND WASTEWATER MANAGEMENT VERTICAL IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 79
TABLE 33 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION) 79
TABLE 34 ELECTRIC HEAT TRACING MARKET IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 83
TABLE 35 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 84
TABLE 36 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 85
TABLE 37 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 86
TABLE 38 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 86
TABLE 39 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 87
TABLE 40 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 88
TABLE 41 ELECTRIC HEAT TRACING MARKET FOR WATER & WASTEWATER MANAGEMENT VERTICAL IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 88
TABLE 42 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION) 89
TABLE 43 ELECTRIC HEAT TRACING MARKET IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 93
TABLE 44 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 94
TABLE 45 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 95
TABLE 46 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 96
TABLE 47 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 96
TABLE 48 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 97
TABLE 49 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 97
TABLE 50 ELECTRIC HEAT TRACING MARKET FOR WATER & WASTEWATER MANAGEMENT VERTICAL IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 98
TABLE 51 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS IN APAC, BY COUNTRY, 2015–2023 (USD MILLION) 98
TABLE 52 ELECTRIC HEAT TRACING MARKET IN ROW, BY REGION, 2015–2023 (USD MILLION) 100
TABLE 53 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 101
TABLE 54 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 101
TABLE 55 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 102
TABLE 56 ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 102
TABLE 57 ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 102
TABLE 58 ELECTRIC HEAT TRACING MARKET FOR FOOD & BEVERAGES VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 103
TABLE 59 ELECTRIC HEAT TRACING MARKET FOR WATER & WASTEWATER MANAGEMENT VERTICAL IN ROW, BY REGION, 2015–2023 (USD MILLION) 103
TABLE 60 ELECTRIC HEAT TRACING MARKET FOR OTHER VERTICALS, BY REGION, 2015–2023 (USD MILLION) 103
TABLE 61 RANKING ANALYSIS OF MARKET PLAYERS, 2016 106
TABLE 62 PRODUCT LAUNCHES/DEVELOPMENTS, 2014-2017 108
TABLE 63 CONTRACTS AND AGREEMENTS, 2016–2017 109
TABLE 64 ACQUISITIONS, 2015–2016 109
TABLE 65 EXPANSIONS, 2014–2017 110

LIST OF FIGURES

FIGURE 1 ELECTRIC HEAT TRACING MARKET SEGMENTATION 15
FIGURE 2 ELECTRIC HEAT TRACING MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 17
FIGURE 3 RESEARCH DESIGN 18
FIGURE 4 BOTTOM-UP APPROACH 23
FIGURE 5 TOP-DOWN APPROACH 24
FIGURE 6 DATA TRIANGULATION 25
FIGURE 7 SELF-REGULATING CABLES EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 27
FIGURE 8 FREEZE PROTECTION AND PROCESS TEMPERATURE MAINTENANCE APPLICATION EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 28
FIGURE 9 OIL & GAS VERTICAL EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET BETWEEN 2017 AND 2023 29
FIGURE 10 ELECTRIC HEAT TRACING MARKET, BY REGION 30
FIGURE 11 GROWTH OPPORTUNITIES IN THE ELECTRIC HEAT TRACING MARKET BETWEEN 2017 AND 2023 31
FIGURE 12 ELECTRIC HEAT TRACING MARKET FOR SELF-REGULATING CABLES EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 31
FIGURE 13 OIL & GAS VERTICAL HELD A MAJOR SHARE OF THE NORTH AMERICAN ELECTRIC HEAT TRACING MARKET IN 2016 32
FIGURE 14 US ACCOUNTED FOR THE LARGEST SHARE OF THE ELECTRIC HEAT TRACING MARKET IN 2016 33
FIGURE 15 OIL & GAS VERTICAL EXPECTED TO CONTINUE TO HOLD THE LARGEST SIZE OF THE ELECTRIC HEAT TRACING MARKET TILL 2023 33
FIGURE 16 INCREASING ADOPTION OF ELECTRIC HEAT TRACING SYSTEMS OVER CONVENTIONAL STEAM TRACING SYSTEMS DRIVE THE ELECTRIC HEAT TRACING MARKET GROWTH 34
FIGURE 17 SELF-REGULATING HEAT TRACING SYSTEMS EXPECTED TO LEAD THE MARKET DURING THE FORECAST PERIOD 41
FIGURE 18 OIL & GAS AND CHEMICAL VERTICALS TO DOMINATE MARKET FOR SELF-REGULATING ELECTRIC HEAT TRACING SYSTEMS DURING THE FORECAST PERIOD 43
FIGURE 19 OIL & GAS VERTICAL EXPECTED TO LEAD THE MARKET FOR CONSTANT WATTAGE ELECTRIC HEAT TRACING SYSTEMS DURING THE FORECAST PERIOD 44
FIGURE 20 FREEZE PROTECTION AND PROCESS TEMPERATURE MAINTENANCE APPLICATION EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 48
FIGURE 21 OIL & GAS VERTICAL EXPECTED TO LEAD THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 52
FIGURE 22 SELF-REGULATING HEAT TRACING SYSTEMS EXPECTED TO LEAD THE MARKET FOR OIL & GAS VERTICAL DURING THE FORECAST PERIOD 54
FIGURE 23 NORTH AMERICA EXPECTED TO HOLD THE LARGEST SHARE OF THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 55
FIGURE 24 MARKET FOR SELF-REGULATING ELECTRIC HEAT TRACING SYSTEMS EXPECTED TO GROW AT THE HIGHEST RATE FOR CHEMICALS VERTICAL BETWEEN 2017 AND 2023 57
FIGURE 25 NORTH AMERICA EXPECTED TO LEAD THE ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL DURING THE FORECAST PERIOD 58
FIGURE 26 NORTH AMERICA EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL BETWEEN 2017 AND 2023 60
FIGURE 27 NORTH AMERICA EXPECTED TO LEAD THE ELECTRIC HEAT TRACING MARKET FOR RESIDENTIAL VERTICAL DURING THE FORECAST PERIOD 61
FIGURE 28 NORTH AMERICA EXPECTED TO HOLD THE LARGEST SHARE OF THE ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL DURING THE FORECAST PERIOD 63
FIGURE 29 ELECTRIC HEAT TRACING MARKET IN US EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2017 AND 2023 69
FIGURE 30 NORTH AMERICA EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 70
FIGURE 31 NORTH AMERICA SNAPSHOT: ELECTRIC HEAT TRACING MARKET 72
FIGURE 32 ELECTRIC HEAT TRACING MARKET IN US TO GROW AT THE HIGHEST CAGR BETWEEN 2017 AND 2023 73
FIGURE 33 ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN US EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2017 AND 2023 74
FIGURE 34 US TO DOMINATE THE NORTH AMERICAN ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL DURING 2017–2023 75
FIGURE 35 ELECTRIC HEAT TRACING MARKET FOR COMMERCIAL VERTICAL IN US EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 76
FIGURE 36 US EXPECTED TO LEAD THE NORTH AMERICAN ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL DURING THE FORECAST PERIOD 77
FIGURE 37 EUROPE SNAPSHOT: ELECTRIC HEAT TRACING MARKET 82
FIGURE 38 RUSSIA EXPECTED TO DOMINATE THE EUROPEAN ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 83
FIGURE 39 RUSSIA EXPECTED TO DOMINATE THE EUROPEAN ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL DURING 2017–2023 84
FIGURE 40 ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN GERMANY EXPECTED TO GROW AT THE HIGHEST CAGR BETWEEN 2017 AND 2023 85
FIGURE 41 GERMANY EXPECTED TO LEAD THE ELECTRIC HEAT TRACING MARKET FOR POWER & ENERGY VERTICAL DURING THE FORECAST PERIOD 87
FIGURE 42 ASIA PACIFIC SNAPSHOT: ELECTRIC HEAT TRACING MARKET 92
FIGURE 43 CHINA EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET IN APAC DURING THE FORECAST PERIOD 93
FIGURE 44 CHINA EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET FOR OIL & GAS VERTICAL IN APAC DURING THE FORECAST PERIOD 94
FIGURE 45 CHINA EXPECTED TO LEAD THE ELECTRIC HEAT TRACING MARKET FOR CHEMICALS VERTICAL IN APAC DURING THE FORECAST PERIOD 95
FIGURE 46 LATIN AMERICA EXPECTED TO DOMINATE THE ELECTRIC HEAT TRACING MARKET DURING THE FORECAST PERIOD 100
FIGURE 47 ORGANIC AND INORGANIC STRATEGIES ADOPTED BY COMPANIES OPERATING IN THE ELECTRIC HEAT TRACING MARKET (2014–2017) 105
FIGURE 48 PENTAIR: COMPANY SNAPSHOT 112
FIGURE 49 THERMON: COMPANY SNAPSHOT 116
FIGURE 50 EMERSON: COMPANY SNAPSHOT 124
FIGURE 51 DANFOSS: COMPANY SNAPSHOT 128
FIGURE 52 PARKER-HANNIFIN: COMPANY SNAPSHOT 135

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