Fact.MR has recently published a detailed report along with the dynamics on the global heating cable market. According to the published report, the market is expected to surpass 2 Bn in 2030, experiencing a steady growth rate of close to 6% CAGR over the forecast period.
Changing climatic conditions is a major concern for humanity, and countries in the North American region have faced a cold wave in recent years. Households in colder regions have started using heating cables for under-floor heating, roof heating, and snow melting, rather than depending on traditional heat pumps and central heat furnaces. Of late, integration of technology has made heat cables more efficient, reliable, and stable. Self-regulating heating cables are increasingly being used in commercial buildings and residential homes, influenced by feature such as better control, lower maintenance cost, and higher safety and reliability.
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Key Takeaways from Heating Cable Market Study
- The heating cable market is anticipated to add 1.7X value by 2030 as compared to 2024.
- Constant electric power heating cables capture a major chunk of the market, which is more than 50% of global demand, and are set to create US$ 500 Mn opportunity by 2030.
- Commercial use is the fastest-growing segment, owing to rise in the number of industries across regions, holding a market share of over 85%.
- North America is set to dominate market revenue in 2024, and is expected to gain 161 BPS by 2030 over 2024.
- The heating cable market in East Asia is expected to experience an impressive growth rate of more than 7% during 2024-2030.
- Aluminum heating cables will account for two-third marker share over the next ten years.
- Through 2030, the market in the U.S. is projected to expand at a CAGR of close to 7%, while that in Germany and the U.K. at over 6% and over 7%, respectively.
- Demand for heating cables is set to grow in China at a CAGR of close to 8% through 2030.
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After reading the Heating Cable market report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the growth of the global keyword market.
- Analyze key regions holding significant share of the total keyword market revenue.
- Study the growth outlook of the global keyword market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use on the keyword market growth.
Investigate the recent R&D projects performed by each keyword market player
The Heating Cable market report answers important questions which include:
- What does the status of the Heating Cable market look like after the forecast period?
- Which region has the highest contribution to the global keyword market and why?
- Which players remain at the top of the global Heating Cable market?
- What opportunities are available for the Heating Cable market players to expand their production footprint?
- Which segment has the maximum impact on the global Heating Cable market?
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