Market Summary

The global electric heating cable market size was significantly robust in 2020 and is expected to register a rapidly inclining revenue CAGR over the forecast period. Major factors driving market revenue growth include increasing adoption of electric heating cables in various commercial and residential applications, coupled with rising demand for electric heating cables from a variety of industries. Rapid development in building and construction sector is another factor resulting in rising demand for electric heating cables, which in turn is driving revenue growth of the global electric heating cables market to a significant extent.

Market Dynamics:
Drivers:

Increasing demand for and adoption of electric heating cables in various industrial, residential, and commercial applications is a major factor driving overall market revenue growth. These cables can be used in residential applications such as for roof heating, floor heating, pipe freeing, etc. Electric heating cables are widely used in building & construction and electronics industry due to characteristics such as efficiency, reliability, etc. Increasing demand for electric heating cables from the oil & gas industry is another major factor driving revenue growth of the global electric heating cable market. Major players, especially in developing countries and regions, are investing in increasing production to meet demand from various industries at a global level.

Restraints:

Fluctuating costs of raw materials and safety concerns are some key factors that could hamper growth of the global electric heating cable market to some extent over the forecast period.

Market Insights:
Type Outlook:

The self-regulating heating cable segment is projected to register highest revenue CAGR during the forecast period, attributable to rising demand for a deployment of self-regulating heating cable, which is one of the major types of electric heating cables, and relatively high demand across a variety of applications and industries.

Application Outlook:

The industrial segment accounted for largest revenue share among the application segments in the global market in 2020.

Region Outlook:

North America market is expected to account for a substantially large revenue share during the forecast period. Expanding operations and activities across oil & gas and construction industries in countries in the region is boosting growth of the North America electric heating cable market. Moreover, increasing investments in technological advancements by manufacturers operating in the region is further driving growth of the North America market.

Asia Pacific market revenue registered a rapid CAGR in 2020, and this trend is expected to continue during the forecast period. Rapid industrialization, advancements and further development in the electronics industry, and rapid growth in building and construction sector in countries in the region are key factors supporting growth of the Asia Pacific market.

Companies profiled in the market report

Some major players in the global electric heating cable market are Raychem SST, Anhui Huanrui, Thermon, Bartec, Wuhu Jiahong, Emerson, Anbang, Eltherm, Heat Trace Products, Anhui Huayang, Chromalox, Isopad, King Manufacturing,  Flexelec, Garnisch, FINE Unichem, SunTouch, Aoqi Electric, Thang long Electric, Urecon, and BriskHeat.

Major companies are adopting various strategies, including mergers, acquisitions, partnerships, and new product development, among others to stay ahead of the competition and expand market footprint and revenue share.

Segments covered in the report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global electric heating cable market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global electric heating cable market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

For the purpose of this report, Reports and Data has segmented the global electric heating cable market on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Self-regulating Heating Cable
  • Constant Wattage Heating Cable
  • Mineral Insulated Heating Cable
  • Skin-effect Heating Cable

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Industrial
  • Residential
  • Commercial
  • Others

Region Outlook (Revenue, USD Billion; 2018 – 2028)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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Key questions answered by the report