The Business Market Insights provides you regional research analysis on “North America Mineral Insulated Heating Cable Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Mineral Insulated Heating Cable market during the forecast period, i.e., 2020–2027.
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
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.
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Major key players covered in this report:
- Eltherm GmbH
- Emerson Electric Co.
- Mineral Insulated Cable Company (MICC) Ltd.
- Thermocoax Group
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.
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.
The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Mineral Insulated Heating Cable market. The researcher provides an extensive analysis of the North America Mineral Insulated Heating Cable market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America 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 North America Mineral Insulated Heating Cable market segments and regions.
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The research on the North America 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 North America 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.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Mineral Insulated Heating Cable market.
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