North America Mineral Insulated Heating Cable Market

Market Introduction

A mineral insulated heating cable is used in environmental conditions with high temperatures as it has low flammability. The cable comprises copper wires inside a copper and stainless steel sheath. It is insulated by magnesium oxide (MgO), which makes a tremendous electrical insulation material because it can resist oxidation and ionizing radiation, as well as physically and chemically stable at high temperatures. 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 against corrosion, it is ideal for use in areas where failure and replacement could be dangerous. Mineral insulated cables are used for power and control circuits of mains supply cables within residential apartment blocks, and they offer economical commercial and high-end residential floor warming. Thus, the growth in the construction sector is expected to create a significant demand for mineral insulated heating cables in the coming years, which is further anticipated to drive the mineral insulated heating cable market. Furthermore, with US being one of the important markets for mineral insulated heating cable growth. The factory and business shutdowns across the US, Canada and Mexico are impacting the adoption of mineral insulated heating cable market. North America region is home to a large number of manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 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 North America region in a negative manner for the next few quarters.

Market Overview and Dynamics

The mineral insulated heating cable market in North America is expected to grow from US$ 114.9 Mn in 2019 to US$ 140.4 Mn by 2027; it is estimated to grow at a CAGR of 2.8% from 2020 to 2027. Mineral insulated heating cables retain their precision even during exposure to high temperatures; thus, they are ideal in several industries such as oil & gas, energy & power, and medical devices where safety standards are strictly imposed. The cable is verified using the National Institute of Standards and Technology (NIST) standards. The energy & power generation industry witnesses tremendous growth across the region; also, various construction and electrical projects are in line, especially in the North American countries. Thus, the mineral insulated heating cables offer future growth opportunities for market players operating in the North American market as the need for higher electricity generation and better-conducting channels are increasing in several industries. This is bolstering the growth of the mineral insulated heating cable market.

Key Market Segments

In terms of sheath type, the copper segment accounted for the largest share of the North America mineral insulated heating cable market in 2019. In terms of cable type, the single core segment held a larger market share of the mineral insulated heating cable market in 2019. Further, the energy & power segment held a larger share of the market based on end user in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the mineral insulated heating cable market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bartec, BriskHeat, Chromalox, Eltherm GmbH, Emerson Electric Co., Mineral Insulated Cable Company (MICC) Ltd., Thermocoax Group, Thermon, and Valin among others.

Reasons to buy report

• To understand the North America mineral insulated heating cable market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America mineral insulated heating cable market
• Efficiently plan M&A and partnership deals in North America mineral insulated heating cable market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America mineral insulated heating cable market
• Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.

NORTH AMERICA MINERAL INSULATED HEATING CABLE MARKET SEGMENTATION

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
• Pharmaceutical
• Others  

By Country

• US
• Canada
• Mexico

Company Profiles

• Bartec
• BriskHeat
• Chromalox
• Eltherm GmbH
• Emerson Electric Co.
• Mineral Insulated Cable Company (MICC) Ltd.
• Thermocoax Group
• Thermon
• Valin

North America Mineral Insulated Heating Cable Market Strategic Insights

North America Mineral Insulated Heating Cable Market Segmentation Analysis

North America Mineral Insulated Heating Cable Market Report Highlights

North America Mineral Insulated Heating Cable Report Scope

North America Mineral Insulated Heating Cable Market Country and Regional Insights