Fire Resistant Cable Market by Insulation Material (XLPS, LSZH, PVC, EPR), End-Use Industry (Building & Construction, Automotive & Transportation, Manufacturing, Energy), and Region (APAC, North America, Europe, MEA) - Global Forecast to 2023
“The fire resistant cable market is projected to grow at a CAGR of 3.2% from 2018 to 2023”
The fire resistant cable market is projected to grow from USD 1.76 billion in 2018 to USD 2.06 billion by 2023, at a CAGR of 3.2% from 2018 to 2023. The growth of the building & construction industry globally with increasing use of fire resistant cable in various applications such as residential, non-residential, and industrial is driving the resistant cable market. The rising demand for fire safety at public places has also increased the consumption of fire resistant cable in various automotive & transportation industries. However, the volatility in prices of raw materials act as a restraining factor for the fire resistant cable market.
“The XLPE insulation material segment is expected to be the fastest-growing insulation material segment of the fire resistant cable market during the forecast period.”
Excellent properties of XLPE insulation material has an edge over other insulation materials. The high thermal short circuit rating, excellent electrical property maintained under the full 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 of XLPE that helped drive the XLPE segment.
“Asia Pacific is expected to account for the largest share of the fire resistant cable market during the forecast period.”
Asia Pacific is projected to be the largest market for fire resistant cable during the forecast period. The growing demand for transmission and distribution systems, infrastructure projects, and energy projects (Oil & Gas, and Petrochemical) are driving the growth of Asia Pacific fire resistant cable market. Growing industrialization and imposition of fire safety regulations in the region have also led to the increased demand for fire resistant cable in Asia Pacific.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 - 35 %, Tier 2 - 41%, Tier 3 - 24%
By Designation: C level - 56%, Director level - 28%, Others - 16%
By Region: Asia Pacific - 33%, North America - 27%, Europe - 20%, Middle East & Africa - 13%, South America - 7%
The research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players, such as Prysmian Group (Italy), Nexans S. A. (France), General Cable Corporation (US), NKT Group (Denmark), Leoni AG (Germany), LS Cable & System Ltd. (South Korea), EL Sewedy Electric Company (Egypt), Universal Cable (M) Berhad (Malaysia), and Tratos Limited (UK), among others.
The report defines, segments, and projects the fire resistant cable market based on end-use industry, insulation material, and region. It provides detailed information regarding the major factors influencing the growth of the market. It also profiles key players and comprehensively analyses their market shares and core competencies. The report analyzes competitive developments, such as expansions, acquisitions, joint ventures, and divestments undertaken by key players to achieve growth in the market.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers for the overall fire resistant cable market and its subsegments. This report will help stakeholders better understand the competitive landscape and gain insights to better position their businesses and make suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.