Sales of heating cables are expected to reach $1.48 billion globally in 2023. By the end of 2033, the market for heating cables is anticipated to grow at a CAGR of 5.5% and reach US$ 2.53 billion in market value. In the residential, commercial, and industrial sectors, heating cables—also known as heat trace cables or electric heating cables—are used for a variety of purposes, including temperature control, frost protection, and floor heating.
The report offers actionable and valuable market insights of Heating Cables. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Heating Cables Market across various industries and regions.
Download Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=730?AS
This newly published and insightful report sheds light on Market Insights of Heating Cables, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Heating Cables Market.
The study offers comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the heating cable market across the globe.
Key Takeaways from Heating Cable Market Study
- The heating cable market is anticipated to add 1.7X value by 2030 as compared to 2020.
- Constant electric power heating cables capture a major chunk of the market, which is more than 50% of global demand, and are set to create US$ 500 Mn opportunity by 2030.
- Commercial use is the fastest-growing segment, owing to rise in the number of industries across regions, holding a market share of over 85%.
- North America is set to dominate market revenue in 2020, and is expected to gain 161 BPS by 2030 over 2020.
- The heating cable market in East Asia is expected to experience an impressive growth rate of more than 7% during 2020-2030.
- Aluminum heating cables will account for two-third marker share over the next ten years.
- Through 2030, the market in the U.S. is projected to expand at a CAGR of close to 7%, while that in Germany and the U.K. at over 6% and over 7%, respectively.
- Demand for heating cables is set to grow in China at a CAGR of close to 8% through 2030.
“Integration of sensors with wireless technology and incorporating IoT with heating cables to facilitate growth opportunities during the forecast period,” says a Fact.MR analyst.
Market Buoyancy Analysis
Key players in the heating cable market use various marketing tactics to earn more customers and increase their market share. They are focusing on innovation and partnerships to reach more customers and gain higher profits.
- In 2021, nVent Raychem, a renowned company specializing in electrical connection and protection solutions, introduced its latest innovation, the nVent RAYCHEM HTV self-regulating heating cable. It is specifically designed for demanding industrial environments with extreme exposure or maintenance temperatures.
Market Frontrunners
- Wuhu Jiahong New Material Co. Ltd
- SST Group
- Thermopads
- Fine Korea Co. Ltd
- nVent Raychem
- Emerson
- Anbang
- Anhui Huayang
- Eltherm
- Chromalox
- Isopad
- Thanglong Electric
- BriskHeat
Key Segments of Heating Cable Market
Product Type
- Constant Electric Power
- Constant Wattage
- Self-Regulating
Maximum Temperature (F)
- Below 100
- 100 – 150
- 150 – 200
- Above 200
Maximum Wattage
- Below 50
- 50 – 100
- 100 – 150
- Above 150
Packaging Format
- Bulk (B2B) Packaging
- B2C Packaging Format
Conductor Material
- Copper
- Aluminum
- Others
Application
- Freeze protection
- Temperature maintenance
- Snow Melting On Driveways
- Gulley and roof snow/ice protection
- Underfloor heating
- Others
End Use
- Residential
- Commercial
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Market Moving towards Consolidation
As the heating cable market is fragmented with a number of players, key players are operating strategically and acquiring companies to increase their consumer base and mark their presence in the global market.
However, increasing number of acquisitions and partnerships among players will increase spending on research and development. Players will come up with newer technology integration in heating cables, providing improved performance, which will surge demand over the forecasted time period.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of heating cables during the forecast period. Price point comparison by region with global average price is also considered in the study.
Changing climatic conditions is a major concern for humanity, and countries in the North American region have faced a cold wave in recent years. Households in colder regions have started using heating cables for under-floor heating, roof heating, and snow melting, rather than depending on traditional heat pumps and central heat furnaces. Of late, integration of technology has made heat cables more efficient, reliable, and stable. Self-regulating heating cables are increasingly being used in commercial buildings and residential homes, influenced by feature such as better control, lower maintenance cost, and higher safety and reliability.
Furthermore, growth in gas & oil pipelines is driving demand for electric heat cables. These cables are used to ensure timely heating of oil & gas pipelines, so that the related substance does not lose its viscosity.
Key Question answered in the survey of Heating Cables market report:
- Sales and Demand of Heating Cables
- Growth of Heating Cables Market
- Market Analysis of Heating Cables
- Market Insights of Heating Cables
- Key Drivers Impacting the Heating Cables market
- Which are the Key drivers impacted by Heating Cables market
- Restraints Shaping Market Growth
- Market Survey of Heating Cables
More Valuable Insights on Heating Cables Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Heating Cables, Sales and Demand of Heating Cables, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Email : [email protected]