About Metallic Cables
Cables that have metal insulation material are called as metallic cables. Metallic cables are of two types: metallic power cable and metallic communication cable. Metallic power cables are widely used in industries that operate under harsh environmental conditions. The rise in industrialization and rapid infrastructure development across the world has created a huge demand for electricity.
Technavio’s analysts forecast the global metallic cables market to grow at a CAGR of 3.01% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global metallic cables market for 2017-2021. To calculate the market size, the report considers the demand for cartridge seals from various end-user industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global metallic cables market 2017-2021
Technavio recognizes the following companies as the key players in the global metallic cables market: Prysmian Group, Nexans, General Cable, NKT, and Sumitomo Electric Industries.
Other Prominent Vendors in the market are: Belden, Encore Wire, Finolex Cables, Hangzhou Cable, HENGTONG GROUP, International Wire Group, KEI Industries, LS Cable Group, Southwire Company, and TPC Wire & Cable.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is expansion of railway network. Power and communication metallic cables are used for power transmission and signaling in rail systems. The global railway industry has undergone changes in the recent past mainly due to technological innovations.”
According to the report, one driver in the market is strong demand for communication cable systems. The remarkable upsurge in the IT and telecommunications sector has led to the demand for high-performance cabling. This, in turn, is propelling the demand for metallic communication cables for data and communication applications. The metallic communication cables market is expected to garner the highest growth rate from the IT and telecommunications sector applications during the forecast period. The continued digital transformation is fueling the demand for data centers in organizations, which drives the demand for cable trays in the IT sector.
Further, the report states that one challenge in the market is uncertainty in oil prices. The recent fall in crude oil prices will upset the metallic cables market in general as the oil and gas industry is one of the leading end-user industries for metallic cables in general. Metallic insulated communication and power cables are widely used in the oil and gas industry due to harsh environment conditions. Shale gas explorations in the US are on the rise and have reached record levels. The Middle East countries, on the other hand, have not reduced their output as they fear of losing market share. This has caused a continuous fall in oil and gas prices.
Prysmian Group, Nexans, General Cable, NKT, and Sumitomo Electric Industries.Belden, Encore Wire, Finolex Cables, Hangzhou Cable, HENGTONG GROUP, International Wire Group, KEI Industries, LS Cable Group, Southwire Company, and TPC Wire & Cable.