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Freeze Protection Cables Market Forecast and CAGR
As per research study estimates, it is forecasted that the market will show a CAGR of 6 to 7% in the forecast period 2021-2031. Historically i.e. from 2016 to 2020, the market saw a steady growth, with 2020 creating a plunge in sales, yet the market is projected to get back on track with flying colours.
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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
What is Driving Demand for Freeze Protection Cables?
Demand from the home improvement and DIY sector are expanding at a rapid pace, especially after declaration of pandemic for the Covid-19 virus throughout the world. Moreover, due to increase in digitization across the globe, and other critical factors the demand for Freeze Protection Cables has arisen particularly from northern hemisphere nations i.e. Canada, Russia, Iceland and places facing extreme low temperatures. For the above mentioned nations, freezing of water supply lines, waste water pipes, cooling water pipes, supply water pipes and sprinkler systems, in commercial spaces, industries as well as in residential spaces has been a common phenomenon.
To counter this effect and enable at threshold temperatures, the freeze protection cables have been designed for “on pipe” as well as “in pipe” applications in domestic and commercial requirement to protect water from freezing, adaptable to all areas where natural frost protection cannot be achieved. These also deliver relentless frost protection for refrigeration, condensation and air conditioning lines in the domestic HVAC as well as on the industrial scale, for example in the food and beverage, pharmaceutical, etc.
Freeze protection cables also know by names like de-icing cable, heating cable, and electric heat tracing, uses the process of enhancing the levels of temperature in pipes, floors, vessels and other infrastructural surfaces with the help of heat tracing cables. This is highly significant in areas where the temperatures can drop significantly and can result in freezing of pipes, vessels and other components in an industry. The market is being driven by rising demand for energy-efficient electric heat tracing systems and reduced maintenance costs associated with them.
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North America Market Outlook
Because the United States and Canada are among the world’s coldest countries, North America will see strong growth during the projection period. In these countries, electric heat tracing is becoming more popular for applications such as freeze prevention, roof and gutter de-icing, and floor heating.
With the inclusion of such freeze protection solutions coupled with modern construction techniques resulted in attraction from residential sector and commercial sector of end use. North America has one of the largest construction industry in the world with over 1,600 US$ Bn total expenditures in 2019, shows the prospects of future growth in the electric heat tracing market as well.
East Europe Market Outlook
Countries in East Europe are responsible for the world’s second highest construction industry expenditure of about 2,500 US$ Bn as of 2019.This very fact explains the market for freeze protection cables in the region. Countries like Germany, Sweden, Netherlands, Norway, are among the highest demand creator.
The region is also responsible for numerous industries in the food and beverage, chemical, pharmaceutical and heavy industries accounting for consistent demand. Average temperatures in these countries is 15 deg. Celsius reaching upto a freezing -15.8 deg. Celsius in winters, makes it quite a mandatory item in every residence and industry.
Who are the Key Manufacturers and Suppliers of Freeze Protection Cables?
Some of the leading manufacturers and suppliers of Freeze Protection Cables are
- 3M
- Bartec
- Briskheat Corporation
- nVent
- Chromalox Inc.
- Danfoss
- Drexan Energy Systems
- eltherm GmbH
- Emerson Electric Co
- Heat Trace Products LLC
- Parker-Hannifin
- Pentair plc
- QMax Industries Inc.
- Spirax-Sarco Engineering plc
- Technitrace
- Thermon Inc. and Warmup Plc.
- Raychem etc.
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