The mineral insulated heating cable market in SAM is expected to grow from US$ 8. 1 million in 2019 to US$ 10. 5 million by 2027; it is estimated to grow at a CAGR of 3. 7 % from 2020 to 2027.
New York, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "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" - https://www.reportlinker.com/p05989599/?utm_source=GNW
The construction industry in the SAM has recently gained momentum after weak growth over the past few years, mainly due to soaring population.The governments of various economies are taking several measures to attract private investments in infrastructure development.
Mineral insulated cables are used for power and control circuits of mains supply in residential apartments.Mineral insulated heating cable also offers economical commercial and high-end residential underfloor heating to achieves indoor climate control.
This advantage is expected to boost the MEA mineral insulated heating cable growth.The growth in the construction sector is expected to create a significant demand for mineral insulated heating cables in the coming years, which is further anticipated to drive the SAM mineral insulated heating cable market.
The growing need of energy and power projects is among the other factors escalating the demand for mineral insulated heating cables which will drive the SAM mineral insulated heating cable market.
The COVID-19 pandemic has adversely affected SAM, especially Brazil.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 hence affecting the mineral insulated heating cable market indirectly.The sharp decline in the sales of electronic and semiconductor offerings has been observed due to lockdown.
This is expected to directly impact the growth of the mineral insulated heating cable market in SAM in the next few financial quarters.
The copper segment led the SAM mineral insulated heating cables market, based on sheath type, in 2019.Copper is one of the most popular materials among cable manufacturers owing to its high temperature resistance capability.
The copper cables have the capability to operate seamlessly at a maximum temperature of 250°C.In addition, the copper cables are easy to install as they offer higher flexibility.
These properties have also attracted a significant number of mineral insulated heating cable market players over the years.Copper insulated heating cables are used in a wide range of applications, including commercial snow melting, commercial and residential floor warming, and electrical power generation and supply.
Thus, the factors mentioned above are driving the SAM mineral insulated heating cable market for the copper segment.
The overall SAM 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 SAM mineral insulated heating cable market.
The process also serves the purpose of obtaining overview and forecast for the SAM mineral insulated heating cable market with respect to all the segments pertaining to the region.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 typically involved in this process include industry expert such as VPs, business development managers, mineral insulated heating cable market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the SAM mineral insulated heating cable market. Bartec; Chromalox Inc.; Emerson Electric Co.; Thermon Group Holding, Inc.; and Valin are a few of the players operating in the mineral insulated heating cable market in SAM.
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