South America Mineral Insulated Heating Cable Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Cable Type, Sheath Type, Temperature Range, and End-user

Copper Segment to Dominate SAM Mineral Insulated Heating Cable Market during 2019-2027

According to a new market research study on “SAM Mineral Insulated Heating Cable Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Cable Type, Sheath Type, Temperature Range, and End-User” is expected to reach US$10.5 million by 2027 from US$8.1 million in 2019. The market is estimated to grow at a CAGR of 3.7% from 2020 to 2027. The report provides trends prevailing in the SAM mineral insulated heating cable market along with the drivers and restraints pertaining to the market growth. Growing demand for energy & power projects and jump up in demand from the construction field are the major factor driving the growth of the SAM mineral insulated heating cable market. However, worry related to moisture damage hinder the growth of SAM mineral insulated heating cable market. In the case of COVID-19, SAM region is highly affected specially Brazil, as well as the governments of various countries in SAM are taking several initiatives to protect people and to contain COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The sharp decline in the sales of electronic and semiconductor industry in the region due to lockdown, measures is expected to directly impact the growth of mineral insulated heating cable market in this region. The sharp decline in business activities and product sales are expected to directly affect the growth rate of mineral insulated heating cable market in this region for the next three to four quarters.

The SAM market for mineral insulated heating cable market is segmented into cable type, sheath type, temperature range, end user, and country. Based on cable type, the SAM market is segmented into single core and twin core. In 2019, the single core segment held the largest share in SAM mineral insulated heating cable market. Based on sheath type, the SAM mineral insulated heating cable market is divided into copper, stainless steel, cupronickel, and others. In 2019, copper cable held the largest market share. Cupronickel cable is expected to the fastest growing segment over the forecast period. On the basis of temperature range the market is segmented into less than 200°C,201-500°C,501 to 700°C, and above 700°C. The temperature ranges between 201-500°C segment accounts for largest market share in the 2019. Similarly, based on end user, the market is bifurcated into energy & power, oil & gas, construction, pharmaceutical, and others. The energy & power segment contributed a substantial share in 2019.

Bartec; Chromalox, Inc.; Emerson Electric Co.; Thermon Group Holding, Inc.; Valin are among the leading companies in the SAM mineral insulated heating cable market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Thermon announced USX Electric Heat Trace, which provides thermal performance, reliability and safety for process maintenance as well as critical freeze protection applications.

The report segments the SAM Mineral Insulated Heating Cable market as follows:

SAM Mineral Insulated Heating Cable Market - By Cable Type

• Single Core
• Twin Core

SAM Mineral Insulated Heating Cable Market - By Sheath Type

• Copper
• Stainless Steel
• Cupronickel
• Others

SAM Mineral Insulated Heating Cable Market - By Temperature Range

• Less than 200°C
• 201-500°C
• 501 to 700°C

Above 700°CSAM Mineral Insulated Heating Cable Market - By End User

• Energy & Power
• Oil & Gas
• Construction
• Pharmaceutical
• Others

SAM Mineral Insulated Heating Cable Market - By Country

• Argentina
• Brazil
• Rest of SAM

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• Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the mineral insulated heating cable market, as well as those hindering it
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