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Heating Cable Market

Heating Cable Market

Heating Cable Market, Forecast, Trend, Analysis & Competition Tracking -Global Market Insights 2020 to 2030

Heating Cable Market
FACT730MR

About the Report

Heating cables fall under the segment of heating solution, and serve multitude purposes, ranging from commercial uses to residential applications, where demand is primarily concentrated towards commercial applications for temperature maintenance. As a conductor material, aluminum heating cables are mostly preferred across regions.

In a recently published report by Fact.MR, insights regarding key factors fueling market growth have been offered from 2020 to 2030. The market has been tracked in 20+ high-growth countries, where the region of North-America tops the pecking order, closely followed by Europe.

The report also details what impact the COVID-19 pandemic is having on the global heating cable market across the world.

Historical Performance and Future Projections

Demand for heating cables has shown steady growth throughout 2015-2019 at a CAGR of 4.1%, along with a growth in valuation from US$ 1.13 Bn to US $1.33 Bn. According to the exhaustive analysis by Fact.MR, heating cables are expected to witness significant demand during the forecast period.

By 2030, the heating cable market is expected to surge at a CAGR close to 6%, and overall valuation will reach around US$ 2 Bn.

Prominent players in the market are extensively investing and deploying their resources into the research & development of end-use products, which will act as a driving force for the market.

Analyzing the market over the forecast period, it is expected to progress at a slower pace in the short run (2020-2022), whereas, the market is expected to grow at a rapid pace during the medium run (2020-25).

How Can Digital Technology Impact the Heating Cable Market?

Companies are incorporating IoT with heating solutions to provide a better user experience that can be monitored and regulated efficiently through wireless devices.

Digital technologies such as Internet of Things will ensure efficiency, reliability, and make it much easier to control operations, along with significant safety measures.

Manufacturers are primarily targeting the requirements of end-use industries by developing new products. Integrating technologies such as Internet of Things will assist the seamless operation of heating cables, ensuring proper safety norms.

Technologies such as these are expected to fuel demand for heating cables on a global scale.

What are the Challenges for Heating Cable Manufacturers?

Some of the primary challenges that are being faced by manufacturers and can adversely affect the global heating cable market are:-

Substitutes of heating cables are potentially affecting demand. Consumers, more often, prefer conventional heating solutions such as heat furnaces or heat pumps in some of the prominent regions such as North America and Europe.

Regions with geographical differences challenge the functioning of heating cables. High altitude mountainous terrains and flood-prone areas restrict the installation of heating cables. Also, application of heating cables is limited within the cold regions of Europe and North America, dragging down market reach.

As heating cables are used during the cold season, there is seasonal demand for the same. Such seasonal demand brings challenges regarding inventory and supply chain management.

Also, the usual lifespan of heating cables varies from 20 – 22 years, which is a concern for manufacturers, restricting the number of new users.

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Who are the Main End Users of Heating Cables?

Heating cables are utilized in both, residential and commercial applications, in which, the residential sector accounts for around 15%, whereas the commercial sector holds 85% of the global market share.

The heating cable market has a wide prospect in terms of application with a large scale of end users. Some of the prominent end users and applications are:-

The oil & gas industry is one of the biggest consumers of heating cables, where these are needed to ensure the constant flow of fluid, concerning the safety and quality of the product.

Global Energy Monitor stated that, each year from 2009 to 2018, 25 new gas and oil pipelines have been set up across the globe, which is a positive sign for the heating cable industry.

Heating cables have played one of the major roles in sports activities by nourishing grounds, which helps maintain greenery.

Heating cables are primarily used to defrost ice on the ground during heavy snowfall, which assists in prolonging the playing season.

Heating cables are utilized in residential areas, ensuring efficient heating solutions for houses. These cables have different applications such as for roof heating, floor heating, pipeline heating, gutter heating, and many others.

Pipe freezing is one of the primary applications of heating cables in the residential sector. Preventing pipes from bursting by anti-freezing the fluids inside them helps the flow of substances.

How Has COVID-19 Affected the Sales of Heating Cables?

In this unpredicted novel Corona virus pandemic time, most countries have imposed lockdowns to flatten the growth of. Many industries have been affected because of lockdowns and social distancing measures all across the globe.

It has massively affected the manufacturing sector, and heating solution industries such as heating cables have also gone through a lean patch. Disruptions in the supply chain have affected the industry.

The economy has badly suffered during this tough time, with production plants and trade activities halted.

However, with lockdowns having been lifted in most regions, it is expected that a new rise will come into this market and it will resume its normal growth trajectory in the first quarter of 2021 after full-fledged operations are started.

 

heating cable market region

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Country-wise Insights

Why is the Heating Cable Market Surging in China?

China is projected to be the most prominent region in the East Asia region over the forecast period.

This is because government regulations are very actively enforced to move towards electric heating options rather than conventional coal-burning heating.

The Government of China is concerned about pollution that is produced while burning coal, and the increase of sulphur-dioxide content in the atmosphere.

The China market for heating cables is expected to expand at the highest CAGR of close to 8% over the forecasted period.

What’s Driving Huge Demand for Heating Cables in the U.S.?

North America is one of the most prominent regions shaping demand for heating cables. Along with East Asia, North America accounts for significant demand, with the U.S. being a major consumer in the region.

The U.S. currently has the largest consumer density of heating cables in the world, and the long-term market dynamics for North America look positive.

Category-wise Insights

Which End Use Demands the Highest Volume of Heating Cables?

Considering the end-use segments, commercial end use of heating cables holds a major part of the overall market share.

Heating cables are extensively used for commercial purposes, such as anti-freezing, where maintaining the density and viscosity of fluid is a major concern.

Despite the immense market share of the commercial segment, the residential segment is projected to observe growth at a CAGR of around 4% over the forecast period.

Heating cables have multiple applications in the residential sector, from floor heating to gutter anti-freezing. This provides a strong posture for the residential segment of heating cables as well.

What is the Opportunity for Self-regulating Heating Cables?

As self-regulating heating cables are more flexible and efficient in comparison with other product types, these cables are projected to witness immense growth among other segments, at a CAGR of around 7%.

Self-regulating heating cables have the potential to regulate the flow of electricity as per the need. Featuring this technology will drive sales and growth of the market over the forecast period.

Which Region Has Great Potential for Heating Cables?

By region, the global heating cables market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

East Asia is one of the most prominent regions and is projected to grow exponentially over the forecast period. China is expected to be the most lucrative market because of increasing environmental regulations.

As such, the market in East Asia is expected to witness the fastest growth among others.

North America and Europe hold the largest chunk of the market share, since consumer density is high and penetration of the product is comparatively more. Environmental conditions drive the growth of the market in these two regions.

The market in MEA and Latin America will grow modestly at a CAGR of around 5%. South Asia and Oceania will account for a nominal share in the global heating cable market space.

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Competition Landscape

Fact.MR provides detailed profiles of leading players in the global market who are primarily involved in the manufacturing of heating cables, with essential data points considering market prospects.

Profiling of companies includes some key points such as recent developments in the company, SWOT analysis, and key strategies that they are adopting, which helps to better understand the competitive level in the market.

Report Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

US$ Mn for Value & Tons for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • China
  • Japan
  • India
  • GCC
  • Turkey

Key Segments Covered

  • By Product Type
  • By Maximum Temperature
  • By Maximum Wattage
  • By Conductor Material
  • By Application
  • By End Use
  • By Region

Key Companies Profiled

  • Wuhu Jiahong New Material Co. Ltd
  • SST Group
  • Thermopads
  • Fine Korea Co. Ltd
  • Raychem (nVent Electric)

Customization & Pricing

Available upon Request

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

Heating Cable Market: Scope of Report

A recent study by Fact.MR on the heating cable market offers a 10-year forecast for 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of the market.

This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with heating cables.

The study also provides the dynamics that are responsible for influencing the future status of the heating cable market over the forecast period.

A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the heating cable market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the heating cable market across the globe.

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.

Analysis on Market Size Evaluation

The heating cable market has been analyzed for each market segment in terms of Volume (Mn Meters) and value (US$ Mn).

Market estimates at global and regional levels for heating cables are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.

Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global heating cable market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets.

These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the heating cable market during the forecast period.

Country-specific valuation on demand for heating cables has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of heating cables, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of heating cables has been brought with the help of a detailed dashboard view.

Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player.

 Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the heating cable market.

- FAQs -

 Fact.MR projects the global heating cable market to portray steady growth at around 6% CAGR across the 2020-2030 assessment period. High demand for self-regulating heating cables is anticipated to drive growth in a positive direction.
Commercial end user will act as a prominent driver for the heating cable market over the long-term forecast period. Market fragmentation is mainly due to the ability to use the product diverse applications.
Prominent players operating in the global heating cable landscape include Wuhu Jiahong New Material Co. Ltd, SST Group, Thermopads, Fine Korea Co. Ltd, Raychem (nVent Electric), XAREX by E&STEC Co. Ltd, and others.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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