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US Mineral Insulated Heating Cable Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Cable Type ; Sheath Type ; Temperature Range ; and End User

US Mineral Insulated Heating Cable Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Cable Type ; Sheath Type ; Temperature Range ; and End User

  • July 2021
  • 113 pages
  • ID: 6134459
  • Format: PDF
  • The Insight Partners

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The US Mineral Insulated Heating Cable Market is expected to grow from US$ 89.64 million in 2021 to US$ 114.83 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028.

The construction industry is gaining momentum after weak growth over the past few years.The US governments of many economies are taking several measures to attract private investments in construction and infrastructure development.

The Infrastructure for Rebuilding America (INFRA) discretionary grant program of the United States Department of Transportation recently announced plans to invest US$ 906 million in America’s infrastructure.To repair important roadways, bridges, ports, and trains across the country, funds will be granted to twenty projects in twenty states.

Further, the Government Transit Administration (FTA) of the United States Department of Transportation announced US$ 400 million in federal funding for four transit infrastructure projects in Arizona, Indiana, Missouri, and New Jersey.

The growing population across the US is also bolstering the growth of the construction industry.The US has accounted for a huge number of residential construction projects in recent years owing to the staggering population growth in the regions.

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.Furthermore, commercial buildings are growing at an unprecedented rate.

Mineral insulated heating cables are widely used in the construction industry to fulfil requirements for pipe freezing protection and maintain constant wattage, as well as keep the environment safe. Thus, the growth in the construction sector creates a significant demand for mineral insulated heating cables, which further drives the market growth.

The US is one of the most important country for the adoption and growth of new technologies owing to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power.Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner.

According to WHO, the US is the world’s worst affected country due to COVID-19.

The US is a home to a large number of manufacturing and technology companies, thus the impact of COVID-19 outbreak is anticipated to be highest on country’s economy.The ongoing crisis and situation in the US is going to impact the mineral insulated heating cable market growth in a negative manner, with US being one of the important markets for mineral insulated heating cable growth.

The factory and business shutdowns across the US is impacting the adoption of mineral insulated heating cable market.The US is home to a large number of manufacturing and technology companies, thus the impact of COVID-19 outbreak is anticipated to be quite severe 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 United States in a negative manner for the next few quarters.

The copper segment led the US mineral insulated heating cable market based on sheath type in 2020.Copper is one of the most popular material among cable manufacturers in the US owing to its high temperature resistance capability.

This ideal property of the material has attracted a significant number of mineral insulated heating cable market players over the years.The copper cables have the capability to operate seamlessly at a maximum temperature of 250°C.

This factor has gained interest among numerous industrial players, which has raised the procurement of copper insulated heating cables over the years.In addition, the copper cables are easy to install as they offer higher flexibility, which is another advantage that has been increasing the interest among the end users.

The application of copper insulated heating cables are wide, including commercial snow melting, commercial & residential floor warming, and electrical power generation and supply system, among others. Thus, the factors mentioned are the key parameters that drive the copper segment in the mineral insulated heating cable market.

The overall US Mineral Insulated Heating Cable Market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the US Mineral Insulated Heating Cable Market.

The process also serves the purpose of obtaining overview and forecast for the US Mineral Insulated Heating Cable Market with respects to all the segments pertaining to the country.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the US Mineral Insulated Heating Cable Market. ARi Industries, Inc; Durex Industries; Indeeco; Briskheat Corporation; Chromalox, Inc; Emerson Electric Co.; Raychem RPG Pvt Limited.; Thermon Industries, Inc; Trasor Corp; and Valin are among a few players operating in the US Mineral Insulated Heating Cable Market.

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