South 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. The mineral contents in the cables offer non-reactive insulation, which prevents the thermocouple wires from contact 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 several industries such as oil & gas, energy & power, and medical devices where safety standards are strictly imposed. Factors like surge in demand for energy and power projects and jump up in demand from construction field is expected to create a significant demand for mineral insulated heating cables in the coming years, which is further anticipated to drive the SAM mineral insulated heating cable market.

Furthermore, COVID-19 pandemic has adversely affected SAM, especially Brazil. The governments of various countries in SAM are taking several initiatives to protect people and to contain COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners affecting the SAM mineral insulated heating cable market. The sharp decline in the sales of electronic and semiconductor offerings has been observed due to lockdown. This is expected to directly impact the growth of the mineral insulated heating cable market in SAM in the next few financial quarters.

Market Overview and Dynamics

The mineral insulated heating cable market in SAM is expected to grow from US$ 8.1 million in 2019 to US$ 10.5 million by 2027; it is estimated to grow at a CAGR of 3.7 % from 2020 to 2027. Growing energy requirement in SAM can create opportunity for market growth. 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 in SAM has resulted in mounting investments in the development of smart grids, 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 expected to positively influence the demand for mineral insulated heating cables. Furthermore, environmental regulations that restrict the adoption of electrical cables, health implications due to the materials used in cable manufacturing, and rising safety concerns with the use of electrical installations have led to many innovations and new product development. Mineral insulated heating cable got several advantages such as less costing, sustainability, more safe etc. is expected to drive the growth of the SAM mineral insulated heating cable market.

Key Market Segments

In terms of sheath type, the copper segment accounted for the largest share of the SAM mineral insulated heating cable market in 2019. In terms of cable type, the single core segment held a larger market share of the SAM mineral insulated heating cable market in 2019. Further, the energy & power segment held a larger share of the SAM mineral insulated heating cable 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 SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bartec ; Chromalox, Inc.; Emerson Electric Co.; Thermon Group Holding, Inc. ; Valin.

Reasons to buy report

• To understand the SAM 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 SAM mineral insulated heating cable market
• Efficiently plan M&A and partnership deals in SAM 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 SAM mineral insulated heating cable market
• Obtain market revenue forecast for mineral insulated heating cable market by various segments from 2020-2027 in SAM region.

SAM Mineral Insulated Heating Cable Market Segmentation

SAM Mineral Insulated Heating Cable Market - By Cable Type

• Single Core
• Twin Core

SAM Mineral Insulated Heating Cable Market - By Sheath Type

• Copper
• Stainless Steel
• Cupronickel
• Others

SAM Mineral Insulated Heating Cable Market - By Temperature Range

• Less than 200°C
• 201-500°C
• 501 to 700°C
• Above 700°C

SAM Mineral Insulated Heating Cable Market - By End User

• Energy & Power
• Oil & Gas
• Construction
• Pharmaceutical
• Others  

SAM Mineral Insulated Heating Cable Market - By Country

• Argentina
• Brazil
• Rest of SAM

SAM Mineral Insulated Heating Cable Market - Company Profiles

• Bartec
• Chromalox, Inc.
• Emerson Electric Co.
• Thermon Group Holdings, Inc.
• Valin     

South America Mineral Insulated Heating Cable Market Strategic Insights

South America Mineral Insulated Heating Cable Market Segmentation Analysis

South America Mineral Insulated Heating Cable Market Report Highlights

South America Mineral Insulated Heating Cable Report Scope

South America Mineral Insulated Heating Cable Market Country and Regional Insights