Mineral Insulated Heating Cable Market growth predicted at 4.4% till 2027: The Insight Partners BriskHeat, Chromalox, Eltherm, Emerson Electric

According to our latest market study on “Mineral Insulated Heating Cable Market to 2027-- COVID-19 Impact and Analysis– by Cable Type (Single Core and Twin Core), Sheath Type (Copper, Stainless Steel, Cupronickel, and Others), Temperature Range (Less than 200°C, 201–500°C, 501–700°C, Above 700°C), End User (Energy & Power, Oil & Gas, Construction, Pharmaceuticals, and Others); and Geography,” the market was valued at US$ 254.5million in 2019 and is projected to reach US$ 350.1 million by 2027; it is expected to grow at a CAGR of 4.4% from 2020 to 2027.

The Mineral Insulated Heating Cable Market report upholds the future market predictions related to Mineral Insulated Heating Cable market size, revenue, production, Consumption, gross margin, and other substantial factors. It also examines the role of the prominent Mineral Insulated Heating Cable market players involved in the industry including their corporate overview. While emphasizing the key driving factors for the Mineral Insulated Heating Cable market, the report also offers a full study of the future trends and developments of the market.

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The recently documented report on the Mineral Insulated Heating Cable market is a detailed analysis of this business landscape and contains important details regarding the present market trends, current revenue, market size, industry share, periodic deliverables, alongside the profit anticipation and growth rate registered during the estimated timeframe.

Mineral Insulated Heating Cable Market- Companies
• Bartec
• Raychem RPG Private Limited
• BriskHeat
• Chromalox
• Eltherm GmbH
• Emerson Electric Co.
• Mineral Insulated Cable Company (MICC) Ltd.
• Thermocoax Group
• Thermon
• Valin

The emerging requirement for energy in developing economies demands the need for power grid interconnections in densely populated areas, which, in turn, create a huge opportunity for manufacturers of mineral insulated heating cables. This increment in the energy needs, specifically in APAC, SAM, and the MEA, has resulted in mounting investments in the development of smart grids in these regions, which is further driving the demand for mineral insulated heating cables. The progression in power generation from renewable energy sources is among the other factors boosting the demand for mineral insulated heating cables. Further, environmental regulations restricting the adoption of electrical cables, health implications due to the materials used in cable manufacturing, and rising safety concerns about the use of electrical installations have welcomed many innovations and new product developments. Therefore, new products such as mineral insulated heating cables and new processes that support efficient energy consumption and use of proficient raw materials has meet the growing need for energy in the aforementioned regions. Thus, with the maintenance of resilient and reliable energy supply, and management of the constant challenge of secure energy transmission globally, the adoption of MI cables is boosting.

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Mineral Insulated Heating Cable market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Mineral Insulated Heating Cable market segments and regions.

The report segments the global mineral insulated heating cable market as follows:

 By Cable Type
• Single Core
• Twin Core

 By Sheath Type
• Copper
• Stainless Steel
• Cupronickel
• Others

 By Temperature Range
• Less than 200°C
• 201-500°C
• 501 to 700°C
• Above 700°C

 By End User
• Energy & Power
• Oil & Gas
• Construction
• Pharmaceuticals
• Others

The research on the Mineral Insulated Heating Cable market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Mineral Insulated Heating Cable market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

Moreover, the crude oil and dry natural gas production in the US increased by 17% and 12%, respectively, in 2018, according to US Energy Information Administration. The continuous growth in the LNG export and extended ability to influence new markets helps ramp up the natural gas production in the country. This increase in oil & production activities will open new avenues for mineral insulated heating cable usage for critical fire protection applications in the oil & gas industry.

The growth of the power transmission projects in the North America region is attributed to the growth in the energy & power industry, which will distinctively increase the demand for mineral insulated heating cables. Many ongoing power transmission projects within the territory of North America are anticipated to positively impact the growth of the market. For instance, Ivanpah–Control Project (I-C Project), US, worth US$ 715 million, initiated to fulfill transmission line safety and reliability requirements described by the State Public Utility Commission (PUC) and the North American Electric Reliability Corporation (NERC). Further, Empire State Line Project, US of The Board of Directors of New York Independent System Operator’s (NYISO) has chosen the Empire State Line Proposal 1 presented by NextEra Energy to raise access to hydroelectricity and Canadian imports, as well as cater to new transmission needs in the western New York.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Mineral Insulated Heating Cable market.

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• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
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