LONDON--(BUSINESS WIRE)--The global high temperature cables market size is poised to reach USD 421.87 million by 2023, according to a new report by Technavio, progressing at a CAGR of over 5% during the forecast period.
Read the 151-page research report with TOC on "High Temperature Cables Market Analysis Report by end-users (energy, transport, industrial, and others) and geography (APAC, Europe, North America, and ROW) 2019 - 2023". Request Free Sample Pages.
The market is driven by the rising global energy demand. In addition, the growing demand for high temperature cables from the aviation industry is anticipated to further boost the high temperature cables market during the forecast period.
Currently, there is an increase in energy demand across the globe due to the robust economic growth. The growth in global energy demand was propelled by countries such as China, the US, and India, which accounted for more than 70% of the growth in global energy demand. This factor has led to an increase in the number of power plants and transmission lines that are significant end-users of high temperature cables. Moreover, the growth in the number of electronically connected devices and digitalization of modern economies is also propelling the electrification of global energy systems, thereby boosting the overall market growth.
Furthermore, high temperature cables are being used in aircrafts as fire-resistant cables, generally in the engine, including core and nacelle of the aircraft. These cables are required to operate at a higher temperature due to factors such as the high ambient temperature of aircraft, high current load or a combination of both factors. High temperature resistance is very critical for the cables used in aircrafts as any cable related incidents can lead to huge losses. Therefore, as the aviation industry grows, the count of aircraft will also rise, which will directly contribute to the high temperature cables market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Anixter International Inc.
- Belden Inc.
- HELUKABEL GmbH
- Jiangsu Tongguang Electronic Wire & Cable Corp. Ltd.
- Lapp Holding AG
- Leoni AG
- Nexans SA
- Prysmian Spa
- Sumitomo Electric Industries Ltd.
- Zhuhai Hansen Technology Co. Ltd.
Market Segmentation by Category and Product Types:
The High Temperature Cables Market can be broadly categorized into the following end-users segments:
Key Regions for the High Temperature Cables Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report.
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