Asia Pacific Mineral Insulated Heating Cable Market
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 energy & power generation industry witnesses tremendous growth across the world; also, various construction and electrical projects are in line, especially in the Southeast Asian countries. Thus, the mineral insulated heating cables offer future growth opportunities for market players operating in the market as the need for higher electricity generation and better-conducting channels are increasing in several industries. The positive growth prospects of the mineral insulated heating cable market are primarily attributed to the mineral insulated heating manufacturers introducing new products. For instance, BriskHeat announced a launch of mineral insulated heating cable, which can reach high temperatures where traditional heat trace cable might fall short.
Strategic insights for the Asia Pacific Mineral Insulated Heating Cable provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 50.95 Million |
| Market Size by 2027 | US$ 84.38 Million |
| Global CAGR (2020 - 2027) | 6.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Cable Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Mineral Insulated Heating Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The mineral insulated heating cable market in APAC is expected to grow from US$ 50.95 Mn in 2019 to US$ 84.38 Mn by 2027; it is estimated to grow at a CAGR of 6.9% from 2020 to 2027. India is the 3rd largest producer of electricity in APAC. Owing to favorable government support, India is taking up numerous power transmission projects. For instance, Khargone Transmission Project was initiated to connect NTPC's 1,320 MW thermal power project at Khandwa in Madhya Pradesh with a transmission system to serve Maharashtra and southern states. In addition to new power transmission projects, upgrades in the existing transmission line are taking place. Therefore, growth in the energy & power sector increases the demand for power transmission projects across the world, which requires mineral insulated high-temperature electric heating cables to power network and offer the most reliable solutions for temperatures of up to 1,000°C. The growth in electrical infrastructure projects worldwide is driving the use of mineral insulated heating cable among several energy & power projects.
In terms of sheath type, the copper segment accounted for the largest share of the APAC 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.
A few major primary and secondary sources referred to for preparing this report on the mineral insulated heating cable market in APAC 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., Raychem RPG Private Limited, Thermocoax Group, and Thermon, among others.
The Asia Pacific Mineral Insulated Heating Cable Market is valued at US$ 50.95 Million in 2019, it is projected to reach US$ 84.38 Million by 2027.
As per our report Asia Pacific Mineral Insulated Heating Cable Market, the market size is valued at US$ 50.95 Million in 2019, projecting it to reach US$ 84.38 Million by 2027. This translates to a CAGR of approximately 6.9% during the forecast period.
The Asia Pacific Mineral Insulated Heating Cable Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Mineral Insulated Heating Cable Market report:
The Asia Pacific Mineral Insulated Heating Cable Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Mineral Insulated Heating Cable Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Mineral Insulated Heating Cable Market value chain can benefit from the information contained in a comprehensive market report.
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