Sep 6, 2021   SOURCE: BusinessWire

Fire-Resistant Cable Market by Insulation Material, End-use Industry and Region - Global Forecast to 2026 - ResearchAndMarkets.com

The "Fire-Resistant Cable Market by Insulation Material (EPR, LSZH, PVC, XLPE), End-use Industry (Automotive & Transportation, Building & Construction, Energy, Manufacturing), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global fire-resistant cable market size is projected to grow from USD 1.8 billion in 2021 to USD 2.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 3.3%.

The global fire-resistant cable market has witnessed high growth primarily because of the booming construction as well as industrial sector, rise in the demand for fire safety products, and rapid urbanization & globalization. Furthermore, grid maintenance, replacement of aging infrastructure, conversion of overhead lines to underground lines, and the development of rail networks across the globe, have propelled the consumption of fire-resistant cables over the next few years.

In terms of both value and volume, XLPE segment to be the fastest-growing segment by 2026.

The XLPE segment is projected to grow at the highest CAGR from 2021 to 2026. High thermal short circuit rating, excellent electrical property maintained under the complete temperature range, resistance to thermal deformation at high temperatures, excellent water resistance and low permeability to water, excellent chemical resistance, high durability, and long operational life are some of the properties fueling the growth of the XLPE insulation material segment.

In terms of both value and volume, building & construction is projected to be the fastest-growing segment from 2021 to 2026, for fire-resistant cables.

Building & Construction is projected to be the fastest-growing segment in the fire-resistant cable market. Fire-resistant cables can be used for wiring and interconnection purposes in residential and non-residential areas. These cables are easy-to-install, maintain the reliability of electrical circuits, and can withstand high temperatures during fires, thus, ensuring human safety. Increasing awareness about the safety of buildings among the masses has led to the increase in demand for fire-resistant cables. These cables find applications in the distribution of power in almost every commercial and residential building. Increasing construction activities are driving the fire-resistant cable market in the building & construction industry.

In terms of both value and volume, the APAC fire-resistant cable market is projected to grow at the highest CAGR during the forecast period.

In terms of value and volume, the APAC region is projected to grow at the highest CAGR from 2020 to 2025. Emerging economies in APAC are expected to experience significant demand for fire-resistant cable as a result of the expansion of the end-use industries due to rapid economic development and urbanization. Furthermore, growing manufacturing, building & construction, and automotive & transportation industries, among others in several APAC countries are fueling the demand for fire-resistant cables in the region.

Market Dynamics

Drivers

  • High Demand For Fire-Resistant Cables For Fire Safety & Protection
  • Increasing Fire Safety Standards & Regulations Globally

Restraints

  • Volatility In Raw Material Prices

Opportunities

  • Increasing Demand For Fire-Resistant Cables For Power Generation
  • Population Growth And Rapid Urbanization Translating To Large Number Of Construction Projects
  • Increasing Developments In Automotive Industry

Challenges

  • Availability Of Cheap And Inferior Quality Fire-Resistant Cables

Companies Mentioned

  • Prysmian Group
  • Nexans S.A.
  • NKT Group
  • Leoni Ag
  • LS Cable & System Limited
  • Elsewedy Electric Company
  • Jiangnan Group Limited
  • Hitachi Metals Ltd.
  • Furukawa Electric Co., Ltd.
  • Sumitomo Electric Industries, Ltd.
  • Yazaki Corporation
  • SWCC Showa Cable Systems Co Ltd.
  • Universal Cable (M) Berhad
  • Tratos Limited
  • Keystone Cable
  • Dubai Cable Company (Private) Ltd.
  • Tianjin Suli Cable Group
  • Tele-Fonika Kable Sa
  • Top Cable
  • Shanghai Jiukai Wire & Cable Co., Ltd.
  • SICCET SRL
  • RSCC Wire & Cable LLC
  • RR Kabel Limited
  • Bahra Advanced Cable Manufacture Co. Ltd.
  • Middle East Specialized Cables Company (MESC)
  • Walsin Lihwa Corporation
  • Cavicel S.P.A
  • St Cable Corporation

For more information about this report visit https://www.researchandmarkets.com/r/p3avt