Home / Cable & Wire / Mineral Insulated Cable Market By Cable Type (Power and Heating), By Material (Copper, Stainless Steel, and Others), By Temperature Range (Less than 200°C, 201–500°C, 501–700°C, Above 700°C), By Application (Energy and Power, Oil and Gas, Building and Construction, Industrial Manufacturing, and Others)– Growth, Future prospects & Competitive Analysis 2021-2029

Mineral Insulated Cable Market By Cable Type (Power and Heating), By Material (Copper, Stainless Steel, and Others), By Temperature Range (Less than 200°C, 201–500°C, 501–700°C, Above 700°C), By Application (Energy and Power, Oil and Gas, Building and Construction, Industrial Manufacturing, and Others)– Growth, Future prospects & Competitive Analysis 2021-2029


Published: Jun 2021

The Mineral Insulated Cable Market is expected to grow at a compound annual growth rate of 5% during the forecast period. Mineral insulated cables are made by encasing copper rods within a high conductivity circular copper tube and filling the gaps with inorganic dry magnesium powder, which functions as a seal and fireproof insulator. The complete assembly is then pushed between rollers to lower the diameter and extend the length of the cable, assuring that it can withstand the impacts of fire and after that, it is ready to use. Mineral insulated cable can be used as a temporary or permanent solution for any electrical circuit. This report covers all the quantitative and qualitative aspects of the hook and loop market and also talks about its key drivers, the challenges it faces, the growth opportunities present in the market, and its future prospects.

Increased Application in End-Use Industries Drives Market Growth

Mineral insulated cables are utilized in a wide range of industries, including pharmaceuticals, power generation, nuclear power plants, and oil and gas. These cables are used in medical equipment to allow for safer operations, as these machines must comply with strict safety requirements, and any deviation in the procedure might result in life-threatening diseases. Furthermore, higher power consumption, particularly in developing countries, is said to be another cause for the mineral-insulated cable market to grow. Other factors supporting market expansion include the availability of customized mineral insulated cables, greater demand from the commercial sector, and rising concerns for human life.

MgO's Moisture-Prone Nature Poses a Significant Challenge

On the other hand, mineral insulated cables have a few drawbacks, such as the fact that they can’t be utilized in areas where high vibrations occur because they would fail. They also feature a voltage restriction and may be used in places with voltages up to 1,000 volts only. With the passage of time and advancements in technology, leading firms are now producing mineral insulated cables that can resist temperatures of up to 2000 degrees Celsius. Furthermore, the magnesium oxide insulation in the cable has a high proclivity for combining with moisture, putting it at risk of moisture absorption. Electrical leakage from the internal conductors to the metal sheath might occur if moisture is let into the cable.

Copper Mineral Insulated Heating Cable to Boost Demand

The market has been segmented based on the cable type, material, temperature range, application, and regional basis. Based on the cable type segment, the mineral insulated cable market is divided into power and heating cable. The market was led by mineral insulated heating cables owing to their characteristics like high melting point, high temperature and corrosion resistance, and enhanced performance. The market is divided into copper, stainless steel, and others based on materials. The mineral insulated heating cable market in 2019 was led by the copper segment. Copper insulated heating cables are being used in a variety of applications like snow melting, commercial and residential floor warming, and electricity production and supply systems, to name a few, contributing to the market's growth.

North America to Lead the Global Market

On the basis of regional segmentation, the mineral insulated cable market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America dominated the mineral insulated cable market for the year 2019 with a share of 45%. The growth is attributable to the expanding oil and gas industries and the construction of new power plants. In terms of mineral insulated heating cable, North America is one of the most advanced regions. The copper segment dominated the Asia Pacific mineral insulated heating cable market in 2019. Mineral insulated heating cables are becoming more common in the Asia Pacific as investments in smart grids, power generation capacity, and transmission and distribution infrastructure expand. 

Key Players 

MI Cable Technologies Inc., Zhejiang Taisuo Technology Co. Ltd., Trasor Corporation, The Emerson Electric Company, Wuhu Jiahong New Material Co. Ltd., Sumitomo Group, Thermom, Briskheat Corporation, Bartec, and General Cable Technologies Corporation are the major competitors in this market. Players have utilized a range of marketing techniques to stay competitive in the worldwide mineral insulated cable market, including new product launches, expansion, joint ventures, and acquisitions. The report contains a thorough examination of leading companies as well as a discussion of the market competing. Product launching is a crucial tactic for the key players in the mineral insulated cable market. 

Historical & Forecast Period 

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2029

Research Methodology 

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for the extrapolation of market revenues. The derived market estimates were further validated from top-down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and regions.

ATTRIBUTE DETAILS

Research Period

 2019-2029

Base Year

 2020

Forecast Period

 2021-2029

Historical Year

 2019

Unit

 USD Million

Segmentation

 By Cable Type (2019-2029; US$ Mn)

  • Power Cable
  • Heating Cable

 By Material (2019-2029; US$ Mn)

  • Copper
  • Stainless Steel
  • Others

 By Temperature Range (2019-2029; US$ Mn)

  • Less than 200°C
  • 201–500°C
  • 501–700°C
  • Above 700°C

 By Application (2019-2029; US$ Mn)

  • Energy and Power
  • Oil and Gas
  • Building and Construction
  • Industrial Manufacturing
  • Others

 By Region (2019-2029; US$ Mn)

  • North America
    • U.S.
    • Canada
  • Europe
    • United Kingdom
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation

TABLE 1 Market Snapshot: Global Mineral Insulated Cable Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global Mineral Insulated Cable Market Revenue, By Cable Type, 2019 – 2029 (US$ Mn)
TABLE 5 Global Mineral Insulated Cable Market Revenue, By Material, 2019 – 2029 (US$ Mn)
TABLE 6 Global Mineral Insulated Cable Market Revenue, By Temperature Range, 2019 – 2029 (US$ Mn)
TABLE 7 Global Mineral Insulated Cable Market Revenue, By Application, 2019 – 2029 (US$ Mn)
TABLE 8 Global Mineral Insulated Cable Market Revenue, By Geography, 2019 – 2029 (US$ Mn)
TABLE 9 North America Mineral Insulated Cable Market Revenue, By Cable Type, 2019 – 2029 (US$ Mn)
TABLE 10 North America Mineral Insulated Cable Market Revenue, By Material, 2019 – 2029 (US$ Mn)
TABLE 11 North America Mineral Insulated Cable Market Revenue, By Temperature Range, 2019 – 2029 (US$ Mn)
TABLE 12 North America Mineral Insulated Cable Market Revenue, By Application, 2019 – 2029 (US$ Mn)
TABLE 13 North America Mineral Insulated Cable Market Revenue, By Region, 2019 – 2029 (US$ Mn)
TABLE 14 Europe Mineral Insulated Cable Market Revenue, By Cable Type, 2019 – 2029 (US$ Mn)
TABLE 15 Europe Mineral Insulated Cable Market Revenue, By Material, 2019 – 2029 (US$ Mn)
TABLE 16 Europe Mineral Insulated Cable Market Revenue, By Temperature Range, 2019 – 2029 (US$ Mn)
TABLE 17 Europe Mineral Insulated Cable Market Revenue, By Application, 2019 – 2029 (US$ Mn)
TABLE 18 Europe Mineral Insulated Cable Market Revenue, By Region, 2019 – 2029 (US$ Mn)
TABLE 19 Asia Pacific Mineral Insulated Cable Market Revenue, By Cable Type, 2019 – 2029 (US$ Mn)
TABLE 20 Asia Pacific Mineral Insulated Cable Market Revenue, By Material, 2019 – 2029 (US$ Mn)
TABLE 21 Asia Pacific Mineral Insulated Cable Market Revenue, By Temperature Range, 2019 – 2029 (US$ Mn)
TABLE 22 Asia Pacific Mineral Insulated Cable Market Revenue, By Application, 2019 – 2029 (US$ Mn)
TABLE 23 Asia Pacific Mineral Insulated Cable Market Revenue, By Region, 2019 – 2029 (US$ Mn)
TABLE 24 Rest of the World (ROW) Mineral Insulated Cable Market Revenue, By Cable Type, 2019 – 2029 (US$ Mn)
TABLE 25 Rest of the World (ROW) Mineral Insulated Cable Market Revenue, By Material, 2019 – 2029 (US$ Mn)Rest of the World (ROW) Mineral Insulated Cable Market Revenue, By Temperature Range, 2019 – 2029 (US$ Mn)
TABLE 26 Rest of the World (ROW) Mineral Insulated Cable Market Revenue, By Application, 2019 – 2029 (US$ Mn)
TABLE 27 Rest of the World (ROW) Mineral Insulated Cable Market Revenue, By Region, 2019 – 2029 (US$ Mn)
TABLE 28 MI Cable Technologies Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 29 Zhejiang Taisuo Technology Co. Ltd: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 30 Trasor Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 31 The Emerson Electric Company: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 32 Wuhu Jiahong New Material Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 33 Sumitomo Group: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 34 Thermom: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 35 Briskheat Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 36 Bartec: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)
TABLE 37 General Cable Technologies Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Applications Served, SCOT Analysis, Recent Developments)

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