In this article, the estimation of current transfer length (CTL) and electric field of MgB2 (M) monofilamentary superconducting wires for various metals which are used as a sheath and barrier with their different crosss-ectional compositions of superconducting core/barrier/sheath are studied. Among the studied superconducting wires, the least CTL values are estimated for M/Ti/Ta (0.48 mm), M/Ti/Nb (0.51 mm) and M/Nb/Fe (0.50 mm) superconducting wires with thin barrier combinations. The estimated CTL values indicate that M/Ti/Nb and M/Nb/Fe monofilamentary superconducting wires are preferable as compared to M/Ta/Cu, M/Nb/Ni and M/Ta/Ni. The heat flux density generated on the metallic sheath is lower for the M/Ti/Nb and M/Nb/Fe superconducting wires i.e., lowest electrical dissipation as compared to the M/Ta/Cu and M/Nb/Ni superconducting wires. The lowest CTL value and heat generation make M/Ti/Nb and M/Nb/Fe a promising combination of superconducting wires for practical applications.