Report : US Mineral Insulated Heating Cable Market Forecast to 2028 - COVID-19 Impact and Country 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, and Above 700°C); and End User (Energy and Power, Oil and Gas, Construction, Pharmaceuticals, and Others)
Construction Segment to Dominate US Mineral Insulated Heating Cable Market During 2021–2028
According to a new market research study on “US mineral insulated heating cable Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Cable Type, Sheath Type, Temperature Range and End-user” is expected to reach US$ 114.83 million by 2028 from US$ 89.64 million in 2021. The market is estimated to grow at a CAGR of 3.60% from 2021 to 2028. The report provides trends prevailing in the US mineral insulated heating cable market along with the drivers and restraints pertaining to the market growth. Increasing demand for energy & power projects and rising demand from construction sector are the major factor driving the growth of the US mineral insulated heating cable market. However, concern related to moisture damage hinders the growth of US mineral insulated heating cable market.
The US is a home to many manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be highest on country’s economy. The ongoing crisis and situation in the US is going to impact the mineral insulated heating cable market growth in a negative manner, with US being one of the important markets for mineral insulated heating cable growth. The factory and business shutdowns across the US are impacting the adoption of mineral insulated heating cable market. U.S. is home to many manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2021. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the mineral insulated heating cable market growth of United States in a negative manner for the next few quarters.
The US mineral insulated heating cable market has been analyzed based on cable type, sheath type, temperature range, and end-user. Based on cable type, the market is segmented into single core and twin core. The single core segment dominated the US mineral insulated heating cable market in 2020 and twin core segment is expected to be fastest growing during forecast period. Based on sheath type, the market is segmented into copper, stainless steel, cupronickel, and others. The copper segment dominated the US mineral insulated heating cable market in 2020 and others segment is expected to be fastest growing during forecast period. Based on temperature range, the market is segmented into less than 200°C, 201–500°C, 501–700°C and above 700°C. The 201–500°C dominated the US mineral insulated heating cable market in 2020 and above 700°C segment is expected to be fastest growing during forecast period. Based on end-user, the market is segmented into energy and power, oil and gas, construction, pharmaceuticals, and others. The energy and power segment dominated the US mineral insulated heating cable market in 2020 and construction segment is expected to be fastest growing during forecast period
ARi Industries, Inc.; Raychem RPG Private Limited; BriskHeat; Chromalox; Eltherm GmbH; Emerson Electric Co.; Durex Industries; Indeeco; Trasor Corp.; Thermocoax Group; Thermon; and Valin are among the leading companies in the US mineral insulated heating cable market.
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