Mineral Insulated Cable Market Size is Estimated to be US$ 1,337.00 Mn and Grow at a CAGR of 5.7% from 2020 to 2027

According to our latest market study on “Mineral Insulated Cable Market was valued at US$ 951.72 million in 2019 and is projected to reach US$ 1,337.00 million by 2027; it is expected to grow at a CAGR of 5.7% during the forecast period. The report highlights key factors driving the market growth, and prominent players and their developments in the market.

In the energy & power sector, temperature and pressure measurement instruments play a significant role in large-scale power plants, peak-load electricity generation plants, and decentralized systems, among others. The globally mounting number of gas turbine power plants; coal, gas, nuclear, hydropower, and thermal power stations; biogas plants; and wind power stations—to fulfill the ever-increasing demand for electricity—is fueling the adoption of temperature and pressure measurement instruments. This factor is likely to influence the adoption of mineral insulated cables in the temperature and pressure measurement systems in these facilities.

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MICC Limited manufactures GDCD16 cable designs for power stations. It has been selected as a supplier by key power generation companies, including E.ON, EDF, and RWE, as well as by Nuclear Sellafield sites in the UK. Such abundant presence of coal-fired plants, power generation plants, and nuclear sites plays a significant role in boosting the growth of the mineral insulated cable market for the energy & power industry. Thus, the use of cables in high-temperature applications is rising with the growing construction of nuclear power plants in the US, South Africa, Saudi Arabia, and so on.

COVID-19 Impact on Mineral Insulated Cable Market

COVID-19 outbreak has been affecting every business globally since December 2019. Continuous growth in the number of virus-infected patients has compelled governments to put a bar on humans and goods transport. The COVID-19 pandemic has weakened various activities across numerous industries.

The energy and power generation industry is also hit hard by the outbreak due to limited manpower and disruption in the supply chain of components and services. The mineral-insulated cable market players in various countries also faced the challenge of restricted manpower availability, whereas in several countries, the activities of nuclear decommissioning have been put on hold owing to the imposition of lockdowns by respective governments.

The scope of the Report:

The report segments the global Mineral Insulated Cable Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market.

It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Mineral Insulated Cable Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

Major highlights of the report:

All-inclusive evaluation of the parent market

Evolution of significant market aspects

Industry-wide investigation of market segments

Assessment of market value and volume in past, present, and forecast years

Evaluation of market share

Tactical approaches of market leaders

Lucrative strategies to help companies strengthen their position in the market

Major key players covered in this report:

BARTEC Top Holding GmbH
Raychem RPG Pvt Limited
Briskheat Corporation
eltherm GmbH
Emerson Electric Co
THERMOCOAX GROUP
THERMOCOAX GROUP
MI Cable Technologies Inc.
Trasor Corp.
ZheJiang Taisuo Technology Company, Ltd.

Mineral Insulated Cable Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Mineral Insulated Cable market.

Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.

The key findings and recommendations highlight crucial progressive industry trends in the Mineral Insulated Cable market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue. 

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

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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