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Electric Heat Tracing Market worth 3.26 Billion USD by 2023
2017/11/12
November 10, 2017
According to the market research report "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", the overall 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 increasing adoption of electric heat tracing systems over conventional steam tracing systems and low maintenance cost of electric heat tracing systems compared to steam tracing are the major drivers for the electric heat tracing market growth.
 
“Self-regulating cables expected to hold a major share of the electric heat tracing market between 2017 and 2023“
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