Global Electric Heat Tracing Market to Climb to USD 3.1 Bn by 2023, Says KBV Research in Its Topical Research Report Published at MarketPublishers.com18 Jan 2018 • by Natalie Aster
LONDON – Globally, the adoption of electrical heat tracing systems demonstrated an upward trend during the past several years, on the back of the rising necessity to maintain the process temperature and compensate heat loss. The major challenge of the global electric heat tracing market growth is the devastating effects of overlapping of heating cables.
Through to 2023, the world’s electric heat tracing market is likely to continue rising at a 5.5% CAGR to reach the value of USD 3.1 billion. Sustainable market growth is set to be fueled by such factors as rapidly escalating demand for energy-efficient electric heat tracing systems, expanding adoption of electric heat tracing systems over common ones and low maintenance costs, amid others.
Pentair, Thermon, Chromalox, Emerson Electric, Danfoss, Briskheat Corporation, Parker-Hannifin, Bartec, eltherm, Warmup, amid others, are the most prominent participants in the electric heat tracing market globally.
Topical research report “Global Electric Heat Tracing Market Analysis (2017-2023)” elaborated by KBV Research publication is an unrivalled source of relevant information on the performance of the world’s electric heat tracing market. The report analyses the marketplace on both global and regional scales. It includes the holistic overview of the main market segments (by application, type, vertical and geography), a detailed analysis of the key current and emerging trends, and a review of the market’s growth opportunities up till 2023. Besides, this report presents a deep insight into the market dynamics with a special focus on the market growth drivers, restraints and challenges. Moreover, the report touches upon the market competitive environment and offers 10 granular profiles of the key market players. Future forecasts through to 2023 are at hand in this report.
Many other reports elaborated by the KBV Research are available in its online catalogue at MarketPublishers.com.