DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
Increasing awareness regarding fire safety, the rapid pace of industrialization and urbanization, and the implementation of fire safety regulations by governments across the globe are some of the factors driving the fire resistant cable market. Other driving factors include grid maintenance, replacement of aging infrastructure, conversion of overhead lines to underground lines, and the development of rail network across the globe.
However, volatile prices of raw materials and availability of low quality and inexpensive products may restrain the market growth. The availability of cheap duplicates of original branded products is a big challenge for the fire resistant cable market. These products are generally available at a more competitive rate as compared to original products though are comparatively inferior in quality.
By insulation material, the fire resistant cable market is segmented into XLPE, LSZH, EPR, PVC, and others. The XLPE segment is expected to grow at the highest CAGR during the forecast period, due to the growing demand for XLPE insulation in fire safety for various end-use industries such as building & construction, automotive & transportation, among others. Fire resistant cable maintains circuit integrity.
By end-use industry, the fire resistant cable market is segmented into, building & construction, automotive & transportation, manufacturing, energy, and others. The building & construction segment is estimated to account for the major share of the overall market in 2018. The ongoing urbanization and need for fire safety are factors driving the building & construction industry.
Asia Pacific is expected to be the fastest-growing market for fire resistant cable during the forecast period. Countries in Asia Pacific have huge prospects for the fire resistant cable market because of the growing end-use industries such as building & construction, manufacturing, automotive & transportation, and others.
Companies Profiled
- Prysmian Group
- Nexans S.A.
- General Cable Corporation
- NKT Group
- Leoni A.G.
- LS Cable & System Ltd.
- EL Sewedy Electric Company
- Universal Cable (M) Berhad
- Tratos Limited
- Jiangnan Group Limited
- Dubai Cable Company (Private) Ltd.
- Tele-Fonika Kable S.A.
- Tianjin Suli Cable Group
- Keystone Cable
- Top Cable
- Siccet SRL
- Bahra Advanced Cable Manufacture Co. Ltd.
- Middle East Specialized Cables Company
- Walsin Lihwa Corporation
- Cavicel S.P.A
- ST Cable Corporation
For more information about this report visit https://www.researchandmarkets.com/research/mrn9rh/worldwide_fire?w=4
