Mineral Insulated Cable Market By Cladding Material (Copper Cladding, Stainless Steel Cladding), By End-Use (Manufacturing & Processing, Construction (Residential & Commercial), Power Plants, Oil & Gas Rigs) - Growth, Future Prospects And Competitive Analysis 2017 - 2025

Electricity supply has become a lifeline for modern-day living as well as the industrial sector. Almost every operation in industrial manufacturing and processing, construction, power generation, and many other fields cannot be executed without a safe and uninterrupted supply of electricity. Different methods are used in nascent times to generate electricity, which includes thermal power plants, hydroelectric power plants, non-conventional methods for generating power, and nuclear power plants. However, one of the major concerns for the electricity network is maintaining the electric cables in hostile conditions such as high temperatures, electromagnetic interference, ionizing radiation, moisture, oxidation, and others. Normal electric conductor cable is incapable of sustaining the aforesaid conditions. Consequently, mineral-insulated cables are being increasingly preferred over conventional cables so as to overcome the aforementioned issues.

Mineral-insulated cable has a copper conductor and is sheathed in either copper or stainless steel. The intervening space between the conductor and the sheath is filled with magnesium oxide, which acts as an insulator for the conductor. Magnesium oxide restricts any kind of foreign intervention with copper conductors. Thus, any kind of oxidation, electric or thermal conduction, or radiation interference is avoided, thereby ensuring the optimum efficiency of these cables.

The rise in power generation capacity is the most significant factor fueling the adoption of mineral-insulated cables. Because of their strong protective insulated sheet, these cables can withstand high electrical loads. This ensures that electricity flows smoothly with little risk of short-circuiting or catching fire. Consequently, mineral-insulated cables are extensively used in the electricity supply network in nuclear power plants as well as industrial manufacturing and processing sectors. Apart from these, mineral-insulated cables are also used in other applications, such as fire protection equipment, oil and gas rigs, construction, and several others.

The report titled "Mineral Insulated Cable Market: Growth, Future Prospects, and Competitive Landscape, 2017–2025" offers strategic insights into the global mineral insulated cable market with a focus on the market's size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of multiple market segments based on cladding material, end-use, and cross-sectional studies across different geographies. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading mineral-insulated cable manufacturers, their business strategies, market positioning, and key developments. Some of the major players profiled in the report are Ari Industries, Nexans S.A., KME Group, Watlow Electric Manufacturing Co., Raychem HTS, Temperature Technology Ltd., Sumitomo Group, The Emerson Electric Company, Zhejiang Tatsuo Technology Co., Ltd., Arthur J. Hurley Company, Inc., Mil GmbH, M.I. Cable Technologies, Inc., OMEGA Engineering, Inc., Trasor Corporation, and others.

Other in-depth analysis provided in the report includes:

• current and future market trends to justify the forthcoming attractive markets within the mineral-insulated cable
• Market drivers, market restraints, and their impacts on market growth
• in-depth competitive environment analysis
• Trailing 2-year market size data (2015–2016)
• SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global mineral-insulated cable market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global mineral-insulated cable market is segmented, based on the cladding material of the cable, into the following categories:

• Copper
• Stainless Steel
• Others (Inconel, Nickel Alloy)

Copper and stainless steel are the two prime materials that are predominantly used for the cladding of mineral-insulating cables. In addition, other materials such as nickel, tantalum, platinum, and Inconel can also be used for cladding, depending on the end-use application. As of 2016, mineral-insulated cable with copper cladding leads the overall mineral-insulated cable market. Owing to a large number of merits, such as easy availability, reliability, thermal conductivity, moisture resistance, and cost-effectiveness, copper remains the preferred material for insulated cables. Additionally, copper cladding aids in preventing electromagnetic interference and ionizing radiation from nuclear power plants. Finding its utility in a variety of applications such as power plants, fire equipment, and construction, the demand for copper-clad mineral-insulated cable is expected to escalate even further in the coming years.

Mineral-insulated cable with stainless steel cladding succeeds copper cladding as of 2016 and is expected to retain its position in the coming years. Stainless steel cladding is used in applications with a moist or damp environment. Due to its good resistance to corrosion as well as its durability, the stainless steel-clad, mineral-insulated cable is preferred in such locations.

The global mineral insulated cable market is segmented, based on end-use application, into the following categories:

• Manufacturing and Processing
• Construction (Residential, Commercial)
• Power plants
• Oil and Gas
• Other (Medical Devices, Measurement Devices, Aerospace)

Mineral-insulated cables have found a wide range of applications across different sectors. Based on the end-use segment, manufacturing, and processing, it exhibited strong growth in terms of revenue as of 2016. Mineral-insulated cables are used in kilns, furnaces, heat treatment equipment, and processing industries where the cable is required to operate in a high temperature and harsh environment. Food processing industries and chemical industries extensively use mineral-insulated cables for electricity supply. The segment would continue to dominate the market throughout the forecast period due to steady growth in the manufacturing and processing industries.

In terms of revenue in the mineral-insulated market, the construction segment in residential and commercial applications surpassed the manufacturing and processing segment in 2016. Mineral-insulated cables are used for devices such as smoke detectors, fire sprinkler systems, generator cables, and cables for elevators and escalators in both residential and commercial infrastructures. Capable of handling both single-phase and three-phase supplies, the mineral-insulated cable is applied broadly in many areas of the construction and commissioning of infrastructure.

The power plant segment for overall mineral-insulated cables is expected to be the fastest-growing throughout the forecast. Mineral-insulated cables are immune to any kind of electromagnetic interference as well as ionizing radiation in the supply. Consequently, these cables are extensively used in nuclear power plants and nuclear physics instruments. With the persistent growth in power generation and utilization of mineral-insulated cables for power conduction, the demand for cables is expected to rise dramatically.

The global mineral-insulated cable market has been segmented on the basis of geographical regions, as per the following regions and countries:

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

As of 2016, Asia Pacific contributed a major share of the global mineral-insulated cable market. Asia Pacific has a major concentration of manufacturing and processing, specifically in countries such as Japan, China, South Korea, and India. Growing industries and increasing demand for power have resulted in increased consumption of mineral-insulated cables. Consequently, the mineral-insulated cable market exhibits a consistent high in Asia Pacific. Another factor boosting the sales of mineral-insulated cables is the presence of a larger number of thermal and nuclear power plants in Asia and the Pacific. Mineral-insulated cable is used in thermal and nuclear power plants due to its dependability and ability to withstand harsh working conditions. This has led to a holistic utilization of mineral-insulated cables, thus uplifting the overall market considerably in the Asia Pacific.

In terms of revenue, the European mineral-insulated cable market surpasses Asia-Pacific. The demand for mineral-insulated cables is largely governed by countries with a huge industrial sector, such as the U.K., Germany, France, and other Western European countries. A strong industrial presence has created a demand for a reliable and rugged medium for conducting electricity. The overall growth of the mineral-insulated cable market is expected to be consistent due to the increase in demand for cables for power plants and industries.

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