Mineral Insulated
Cable Market To See Incredible Growth During 2018 – 2026

MI cables are
basically used for maintaining the circuit integrity for operation under harsh
conditions. Mineral
insulated cable market consists of a metal conductor that are embedded
in high quality insulation material particularly magnesium oxide (mgO) and are
pressed into a metal tube made up of material which is oxidation and corrosion
resistant. The metal tube can be made up of an alloy or a stainless steel
material. MI cables can withstand corrosive conditions and extreme high
temperature conditions. The cables are bendable and hence can be installed in
complex locations and can operate under harsh environmental conditions.

Depending upon the
applications, MI cables can be configured by the manufacturers along with
variety of diameters and lengths. MI cables are extensively used in the
construction of temperature sensors including thermocouples and resistance
temperature detectors (RTDs). Various manufacturers are offering MI cables as
per the configurations demanded by the customers. Key players can also be seen
to develop MI cables that can withstand higher temperature which are upwards of
2000 degree Celsius. The key players are also introducing advanced MI cables
into the market which have low diameter ranges for specific applications.
Additionally, various key players are entering into strategic partnerships in
order foster innovation in the products and to drive their sales growth into
tangential spaces. Furthermore, wires and cable users are ensuring that the MI
cables they are using the prescribed industry standards particularly, the
accuracy, quality, and internal specifications.

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Mineral Insulated Cable Market – Drivers and
Restraints

The MI cables are
characterized by robust built, high insulation resistance, high endurance, high
temperature resistance, high accuracy and high quality. This is said to be the
major force behind the adoption of MI cables across various industry verticals.
Furthermore, the growing power demand especially from the developing regions is
said to be another factor which is driving the growth of the MI cable market.
Other factors which are impacting the mineral insulated cable market positively
include growing demand from the commercial sector, availability of customized
MI cables by the manufacturers, growing concerns regarding the safety of human
life, and increasing investment in the R&D activities by the key players in
order to gain competitive edge and gain in increased market share, among
others. However, the insulating material which is MgO is very susceptible to
moisture especially at the terminal end if it is left exposed. Hence, utmost
care must be taken to protect the MgO against the moisture to maintain their
insulation characteristics. This is said to be a challenge for the MI cable
market. Nevertheless, the growing adoption by various industry verticals in the
developing regions is anticipated to pose significant growth opportunities for
the mineral insulated cable market.

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Mineral Insulated Cable Market – Segmentation

The mineral insulated
cable market has been segmented on the basis of type, cladding material,
industry, and geography. Based on type, the mineral insulated cable market has
been divided into mineral insulated power cable and mineral insulated heating
cable. In terms of cladding material, the mineral insulated cable market has
been segregated into copper, stainless steel, and others. On the basis of
industry, the mineral insulated cable market has been segmented into power,
fire and security, construction, medical, oil & gas, aerospace and defense,
manufacturing, and others. As per geography, the mineral insulated cable market
has been divided into North America, Asia Pacific, Europe, Middle East and
Africa, and South America.

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Mineral Insulated Cable Market – Key Players

Some of the major
players in the global mineral insulated cable market include MI Cable
Technologies Inc., Zhejiang Taisuo Technology Co. Ltd, Trasor Corporation,
Nexans S.A., The Emerson Electric Company, Sumitomo Group, M.I. Cable
Technologies, Inc., ARi Industries, Inc., AEI Cables, Thermom, jiusheng
Electric Co., Ltd., Wuhu Jiahong New Material Co. Ltd., Wrexham Mineral Cables,
among others.

The report offers a
comprehensive evaluation of the market. It does so via in-depth qualitative
insights, historical data, and verifiable projections about market size. The
projections featured in the report have been derived using proven research
methodologies and assumptions. By doing so, the research report serves as a
repository of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and applications.

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