Mineral Insulated Heating Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Cable Type,Sheath Type, Temperature Range,End User, and Geography

Mineral Insulated Heating Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Cable Type,Sheath Type, Temperature Range,End User, and Geography

  • July 2020 •
  • 199 pages •
  • Report ID: 5950860 •
  • Format: PDF
The global mineral insulated heating cable market was valued US$ 254.55 million in 2019 and is expected to reach US$ 350.10 million by 2027; it is estimated to grow at a CAGR of 4.4% during 2020–2027.
Mineral insulated heating cables are preferred choice in high temperature environments due to their low flammability.The cable comprises copper wires inside a copper and stainless steel sheath.

It is insulated by magnesium oxide (MgO) that confers resistance against oxidation and ionizing radiation, and physical and chemical stability at high temperatures, which makes it a tremendous electrical insulation material.Various sheath types that cover mineral insulated cable help safeguard the thermocouple wires from oxidation when used in wet environments.

As the cable is resistant to corrosion, it is ideal for use in applications wherein failure and replacement could be dangerous.The mineral contents in the cables offer non-reactive insulation, which prevents the contact of thermocouple wires with corrosive substances such as oils and water. Mineral insulated heating cables retain their precision even during exposure to high temperatures; thus, they are ideal in industries such as oil & gas, energy & power, and medical devices, which impose safety standards strictly. The cables are verified using the National Institute of Standards and Technology (NIST) standards.
The global energy & power generation industry is witnessing tremendous growth; also, various construction and electrical projects, especially in the Southeast Asian countries, are in line.Thus, the mineral insulated heating cables offer future growth opportunities for market players operating in the global market as the need for higher electricity generation and better-conducting channels are increasing in several industries.

The new product launches by manufacturers has been one of the key growth enablers for the mineral insulated heating cable market.

The global mineral insulated heating cable market is segmented on the basis of cable type, sheath type, temperature range, and end-user.Based on cable type, the market is segmented as single core and twin core.

Based on sheath type, the market is segmented as Copper, Stainless Steel, Cupronickel, and Others. Based on end-user, the market is segmented in to energy & power, oil & gas, construction, pharmaceutical, and others.

A few of the key players operating in the global mineral insulated heating cable market, which are profiled in this market study, include Bartec, Raychem RPG Private Limited, BriskHeat, Chromalox, Eltherm GmbH, Emerson Electric Co., Mineral Insulated Cable Company (MICC) Ltd., Thermocoax Group, Thermon, and Valin.

The global mineral insulated heating cable market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the mineral insulated heating cable market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders
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