Global High Temperature Cables Market 2017-2021
About High Temperature Cables
High temperature cables are designed to perform under extremely high temperature applications. These cables are halogen free, flexible, and durable. They are less chemically reactive and can operate under adverse climatic conditions. High temperature cables generally have good electrical conductivity, resistance to oil, weatherproof and resistance to UV radiation. The insulation material used on high temperature cables has high elasticity and tensile strength.
Technavio’s analysts forecast the global High Temperature Cables market to grow at a CAGR of 4.00% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global high temperature cables market for 2017-2021. The market size is calculated based on the demand for high temperature cables. The market has been segmented based on end-user and geography.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global High Temperature Cables Market 2017-2021
Technavio recognizes the following companies as the key players in the global high temperature cables market: General Cable, Nexans, and Prysmian Group.
Other Prominent Vendors in the market are: Thermal Wire and Cable, ALLIED WIRE & CABLE, Anixter, Eland Cables, Dacon Systems, TPC Wire & Cable, Lapp Group, Flexible & Specialist Cables, and Axon' Cable.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rise in installed wind energy capacity. Cables are used largely to transmit energy generated by wind turbines. These cables need to be operative at high temperatures and are required to have high tensile strength. The gradual shift toward the use of renewable energy sources for power generation due to the rising concerns about climate change has led to an increase in electricity generation from wind turbines. This has led to an increased demand for high temperature cables.”
According to the report, one of the major drivers for this market is Growth in nuclear power generation. High temperature cables are used in nuclear power reactors for power generation. The cables used in nuclear reactors are required to withstand high temperature and have high tensile strength. Hence this is where high temperature cables find their application. The nuclear power sector is slowly gaining momentum and is set to grow globally during the forecast period. As on March 2017, the global count for commercial nuclear power reactors was 447 scattered in about 31 countries. The global installed nuclear power capacity is more than 391,942 MW, and 59 new nuclear reactors are under construction. The nuclear power sector generates carbon-free energy, which accounts for about 11% of the world’s electric power. With growing concern over the depletion of fossil fuel resources at a time when concerns about climate change due to greenhouse emissions loom over us, the world is slowly shifting its focus on the generation of electricity from nuclear resources.
Further, the report states that one of the major factors hindering the growth of this market is Slowdown in Chinese economy. China happens to be the key destination for major markets for numerous industries. The economy of the company is experiencing a slowdown, which has dampened the growth in different sectors of the economy. Also, slow growth in the country affects the economies of many other countries, which are relying on China for their exports. China’s economic slowdown will have a global impact affecting all types of industries. This is because China has acquired a prominent presence in the world trade and is gradually capturing market share in total exports worldwide. Therefore, a significant slowdown in China’s economy can give meaningful shocks to the global trade.
General Cable, Nexans, Prysmian Group, Thermal Wire and Cable, ALLIED WIRE & CABLE, Anixter, Eland Cables, Dacon Systems, TPC Wire & Cable, Lapp Group, Flexible & Specialist Cables, and Axon' Cable.
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