Global Single Core Mineral Insulated Heating Cable Market was valued at US$ 250 Mn in 2019 and is expected to grow at a CAGR of 5.2 % to reach at US$ XX Bn in forecast period.
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Global Single Core Mineral Insulated Heating Cable Market Product Definition:
Single core mineral insulated heating cable is made up of a live inner wire which is insulated from the metal sheath with magnesium oxide as insulator. The diameter and the composition of the inner core influences the resistance of the cable, and therefore heating power. A high quality metal sheath material controls the maximum usage of temperature and resistance. Single core mineral insulated heating cable provide high performance and high temperature resistance in applications where thermal limit values for insulation on other cables are exceeded. It provides the features such as high constant power per meter, high mechanical strength, high chemical resistance, and highly resistant to stress corrosion.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Single Core Mineral Insulated Heating Cable market Dynamics:
High insulation resistance, high endurance, high temperature resistance, high accuracy and high quality of metal sheath are the qualities provided by single core mineral insulated heating cable are boosting the adoption of cables across industrial verticals. The power demand from the developing countries is on peak and is considered to be the major factor driving the market growth in forecast period. Other factors driving the market include growing demand from the commercial sector, availability of customized MI cables by the manufacturers, growing concerns regarding the safety of human life, and increasing investment in the R&D activities by the key players in order to gain competitive edge. As insulated mineral cables are used in diverse applications and several industries, the development of commercial, heavy industries, electronics industries and others are benefiting the market. The growth of these industries is also taken in consideration in the report.
However, to protect the MgO against the moisture to maintain their insulation characteristics supreme care should be taken. MgO is an insulating material which is very susceptible to the moisture. This is considered to be the major challenge for the growth of the market. The environmental and application aspects are different region wise and are analyzed in the report.
Global Single Core Mineral Insulated Heating Cable market, Segmentation Analysis:
By application Industrial segment held the major share of XX % in 2019.
The capacity of the single core mineral insulated heating cable to withstand against high temperature is expected to increase the use of cable in industrial application. On account of their good flexibility they are preferred in areas where mounting is difficult or where a high degree of flexibility is required. Rapid heat transfer, mechanical strength even when exposed to mechanical stresses, and radiation resistance ability makes these cables more popular across the industrial section. Also the problem of moisture absorption by insulating material is eliminated by using temporary caps to the open ends. The industrial analysis region by region is done in the report for the precise statistics.