Self-Regulating Heating Cable Market to Grow at a CAGR of 7.5% to reach US$ 1,615.58 Million from 2020 to 2027

Self-Regulating Heating Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application (Freeze Protection & Process Temperature Maintenance, Floor Heating, Roof & Gutter De-Icing, and Others) and Vertical (Oil & Gas, Chemicals, Energy & Power, Commercial, Residential, and Others)

Publication Month : Oct 2020

  • Report Code : TIPRE00015762
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 165
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The self-regulating heating cable market was valued at US$ 917.42 million in 2019 and is projected to reach US$ 1,615.58 million by 2027; it is expected to grow at a CAGR of 7.5% from 2020 to 2027.

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. Until recently, single-phase self-regulating tracers were limited to 100 or 200 m of circuit length and were principally used for in-plant applications. As technology progressed, various industries are now utilizing three-phase self-regulating tracers having circuit length of 600 m and above. The self-regulating heating cables are controlled by several international and national standards, which covers industrial (safe) and industrial (hazardous) locations, such as IEC62395 - electric heat tracing for safe industrial locations or commercial applications and IEC60079-30 - electric heat tracing for hazardous locations (formerly IEC62086). Based on these standards, the cables are approved.

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.

The oil & gas industry has been experiencing tremendous growth across the world. 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 is offering future growth opportunities for market players operating in the global self-regulating heating cables market. The positive growth prospects of the self-regulating heating cable market are primarily attributed to introduction of advanced products by the self-regulating heating cable manufacturers. For instance, in March 2019, Danfoss launched Connecto NA power connection kit for self-regulating heating cables, which enables simple, reliable, and safe installation of electric heating cables.

Impact of COVID-19 Pandemic on Self-Regulating Heating Cable Market

According to latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are some of the worst- affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan, China, during December 2019 and since then it has spread at a fast pace across the globe. As per latest WHO figures for October 29, 2020, there were ~44,002,003 confirmed COVID-19 cases globally with ~1,167,988 total deaths and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in 2020 and likely in 2021 also. The global electronic & semiconductor industry is suffering serious disruptions due to coronavirus crisis, thereby impacting the growth of the global self-regulating heating cable market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted the self-regulating heating cable market. The impact of COVID-19 outbreak on the global self-regulating heating cable market growth in various countries/regions is described in below sections.

Lucrative Regions for Self-Regulating Heating Cable Market

Lucrative Regions for Self-Regulating Heating Cable Market
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Market Insights

Growing Usage of Self-Regulating Heating Cables in Construction Industry

The construction industry recently gained momentum after weak growth over the past few years. The number of commercial buildings is increasing 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 across the world is also bolstering the growth of the construction industry; for instance, according to the United Nations, the worldwide population stood at 7.6 billion in 2017, and it is expected to reach 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100. The countries in the APAC and MEA regions have accounted for a large number of residential construction projects in recent years owing to the rapid increase in the population. Companies operating in the global self-regulating heating cables market are focusing on collaborations to make their products available in developing and developed regions. For instance, 3M Canada, a Chemicals Company based in Canada, partnered with the Thermon Manufacturing Company, a US-based company, to promote the commercial line of self-regulating heating cable products manufactured by Thermon Manufacturing Company. The agreement offered 3M Canada the rights to offer various distinct products within Canada.

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. These cables are 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 propel the growth of the self-regulating heating cables market in the coming years.

Application-Based Market Insights

Based on application, the global self-regulating heating cable market is segmented into freeze protection & process temperature maintenance, floor heating, roof & gutter de-icing, and others. The self-regulating heating cables are developed to offer freeze protection and temperature maintenance pipes, tanks, and equipment. The cable is safeguarded through a tinned copper braid and a polyolefin outer jacket to deliver grounding and an extra mechanical shield for the cable. It provides reliable temperature control in order to prevent equipment freezing and harm, and is suitable for compressor crankcase heating. With a tough outer jacket, the cable performs well in harsh environments. The demand for cables is constantly surging amongst various applications, such as freeze protection & process temperature maintenance, floor heating, and roof & gutter de-icing. Increase in number of industrial players, coupled with rise in demand for self-regulating heating cables, is catalyzing the market growth.



Self-Regulating Heating Cable Market, by Application – 2019 and 2027

Self-Regulating Heating Cable Market, by Application – 2019 and 2027
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Vertical-Based Market Insights

Based on vertical, self-regulating heating cable market is segmented into, oil & gas, chemicals, energy & power, commercial, residential, and others. The demand for self-regulating heating cables would continue to surge during the upcoming years owing to increase in industrial production across industries. The higher the production rates, the higher is the demand for technology-rich, high-quality cabling systems. In addition, the self-regulating heating cables offer freeze protection and process temperature maintenance, which is another factor propelling the demand for these cables in industries, such as energy & power, oil & gas, chemicals, commercial, and residential. With the rise in number of production plants in the developing countries of APAC, the MEA, and SAM, the demand for self-regulating heating cables is expected to augment during the forecast period.

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Self-Regulating Heating Cable Market: Strategic Insights

self-regulating-heating-cable-market
Market Size Value inUS$ 917.42 Million in 2019
Market Size Value byUS$ 1,615.58 Million by 2027
Growth rateCAGR of 7.5% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Product development is one of the commonly adopted strategies by companies to expand their product portfolio. BARTEC Top Holding GmbH, Danfoss A/S, SST GmbH, and Thermon Industries, Inc. are among the key players implementing various strategies to enlarge the customer base and gain significant share in the self-regulating heating cables market, which in turn permits them to maintain their brand name in the global market.

Self-Regulating Heating Cable Market Segmentation:

By Application

  • Freeze Protection & Process Temperature Maintenance
  • Floor Heating
  • Roof & Gutter De-Icing
  • Others

By Vertical

  • Oil & Gas
  • Chemicals
  • Energy & Power
  • Commercial
  • Residential
  • Others

Company Profiles

  • BARTEC Top Holding GmbH
  • Danfoss A/S
  • eltherm GmbH
  • Emerson Electric Co.
  • Heat Trace Limited
  • Nexans Norway AS
  • nVent Electric plc
  • Spirax-Sarco Engineering plc
  • SST GmbH
  • Thermon Industries, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application and Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which region led the self-regulating heating cable market in 2019?

The developed regions such as North America and Europe continue to dominate the global market owing to the cold weather conditions and steady demand of floor heating, roof & gutter de-icing and temperature maintenance across their commercial, industrial and residential end-users. As a result, the North America and Europe collectively accounted for 66.1% of the global market share in 2019, with the Europe leading the global market with almost two fifth of the total market share in 2019.

Which opportunity is expected to gain traction in the self-regulating heating cable market?

The growing need for energy & power in developing countries demands for power grid interconnections in densely populated areas, which, in turn, creates a huge opportunity for manufacturers of self-regulating heating cables. The increasing energy needs, specifically in developing regions, such as SAM, APAC, and MEA, have resulted in mounting investments in the development of energy & power transmission in these regions, which is further driving the demand for self-regulating heating cables.

Which applicaiton led the self-regulating heating cable market?

The freeze protection process avoids the growth of freezing transfer fluid in any system. The self-regulating heating cables are built to offer freeze protection and process temperature maintenance for high power and high exposure industrial applications. The cable ensures operational reliability and corrosion resistance in tough environmental conditions. The cable is the ideal solution to guard pipes against freezing. It is specifically designed for freeze protection & process temperature maintenance so that the temperature never increases to a level that would harm pipes or a heated system. Hence, the freeze protection & process temperature maintenance application dominated the market by application in 2019.

The List of Companies - Self-Regulating Heating Cable Market

  1. BARTEC TOP HOLDING GMBH
  2. DANFOSS A/S
  3. ELTHERM GMBH
  4. EMERSON ELECTRIC CO.
  5. HEAT TRACE LIMITED
  6. NEXANS NORWAY AS
  7. NVENT ELECTRIC PLC
  8. SPIRAX-SARCO ENGINEERING
  9. SST GMBH
  10. THERMON INDUSTRIES, INC.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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