Global Low Smoke Halogen Free Cable Market (2019 to 2027) - COVID-19 Impact and Global Analysis - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Low Smoke Halogen Free Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Jacket Type; Insulation Material; Application" report has been added to ResearchAndMarkets.com's offering.

The low smoke halogen free cable market was valued at US$ 1,898.7 million in 2019 and is projected to reach US$ 3,945.1 million by 2027; it is expected to grow at a CAGR of 10.1% from 2020 to 2027.

Growth in recent years in the low smoke halogen free cable market is primarily driven by the increasing regulations on fire control and implementation of fire retardant equipment especially in buildings that are prone to fire hazards. European region is observed to garner the highest low smoke halogen free cable market share globally.

Europe has dominated the global low smoke halogen free cable market. The growth of low smoke halogen free cable in the region is also supported by the government associations across the region. For instance, the European Commission had lately drafted new building code requirements in order to strengthen protection against fire around residential, industrial, and commercial premises.

Fire protection regulations and strategy laid down by the regulatory bodies and other laws and regulations in Europe are at par with those in the US. Also, in the year 2017, an EU funded initiative had proposed a document for the development of a common European legal framework for the use of fire protection codes in Europe. Similar to Europe, there have been regulations implemented in other countries across the globe that have contributed to the positive growth of the low smoke halogen free cable market.

Impact of COVID-19 Pandemic on Low smoke halogen free cable Market

More than 30 countries worldwide have declared a state of emergency, as COVID-19 continues to spread. Besides the urgent "cities closure" in European, American, and Asian countries, key industries in India, Malaysia, Philippines, and other Southeast Asian nations have announced closures in succession, which is expected to bring challenges to the supply side of several sectors. This factor affects various industries such as aerospace & defense manufacturing, ship manufacturing, and telecommunications, and construction.

COVID 19 effects have benefitted wireline broadline numbers for telecommunication companies in the US, including AT&T and Verizon. For instance, AT&T reported ~209,000 additional AT&T Fiber net and Verizon reported ~59,000 Fios Internet net additions during 1Q 2020. This factor is anticipated to propel the growth of the low smoke halogen free cable market.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global low smoke halogen free cable market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global low smoke halogen free cable market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Potential harms in high risk locations associated with halogenated cable materials propel the need for halogen free cables
• Necessity to adhere to the stringent fire compliances and regulations

Restraints

• Concerns around benefits of halogen free cables over PVC cables in open spaces
• Misperceptions pertaining to the standards of evaluating halogen free cables

Opportunities

• Rapid pace of industrialization and urbanization in developing economies of APAC
• Need for a safe and efficient cabling infrastructure inside buildings owing to increasing urbanization

Trends

• Focus on enhancing the performance characteristics of the LSHF cables

Companies mentioned

• BASF SE
• Borealis AG
• DowDuPont Inc.
• Fujikura Ltd.
• Hitachi Ltd.
• Nexans SA
• Prysmian Group
• Mexichem Specialty Compounds
• Shanghai Kaibo Compounds Factory Co., Ltd.
• Sumitomo Electric Lightwave Corp

For more information about this report visit https://www.researchandmarkets.com/r/fy9nfs