Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), and LS Cable & System Limited (South Korea), and Elsewedy Electric Company (Egypt), amongst others, are the key players operating in the fire-resistant cable market.
Northbrook, IL -- (SBWIRE) -- 09/26/2021 -- The report "Fire-Resistant Cable Market by Insulation Material(EPR, LSZH, PVC, XLPE), End-use Industry(Automotive & Transportation, Building & Construction, Energy, Manufacturing), and Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026", size is projected to grow from USD 1.8 billion in 2021 to USD 2.1 billion by 2026, at a CAGR of 3.3% from 2021 to 2026. The market is projected to grow in accordance with the increasing awareness regarding fire safety, rapid pace of industrialization and urbanization, and the implementation of fire safety regulations by governments across the globe. Furthermore, the fire-resistant cable market has witnessed a significant increase in demand from building & construction industry, owing to the growing requirement for public safety from fire incidents.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=228317537
In terms of value & volume, XLPE is estimated to lead the fire-resistant cable market in 2020
XLPE, by insulation material, accounted for the largest market share in the fire-resistant cable market. High thermal short circuit rating, excellent electrical property maintained under 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 fueling the growth of the XLPE segment.
Building & Construction is estimated to be the largest segment in the fire-resistant cable market in 2020.
Building & Construction, by end-use industry, accounted for the greatest demand for fire-resistant cables in 2020, in terms of value and volume. The growing building safety awareness among masses has led to the increase in demand for fire resistant cables. Fire resistant cables find application in the distribution of power in almost every commercial and residential building. The increasing construction activities are driving the fire-resistant cable market in the building & construction industry.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=228317537
The APAC region is projected to account for the largest share in the fire-resistant cable market during the forecast period.
The APAC region is projected to lead the fire-resistant cable market in terms of both value and volume from 2021 to 2026. Growing population and rapid urbanization are among the key factors propelling industry expansion in the region, during the forecast period. The cables are easy to install and maintains the reliability of the electrical circuits, and can withstand at high temperature & during fire ensuring the human safety. Growing construction as well as automotive industries, amongst others, in APAC countries, are fueling the fire-resistant cable demand in the region.
Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), and LS Cable & System Limited (South Korea), and Elsewedy Electric Company (Egypt), amongst others, are the key players operating in the fire-resistant cable market. Acquisitions, investments, expansions, collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the fire-resistant cable market.
COVID-19 impact on global fire-resistant cable market
With the rise in cases of COVID-19, the market has faced negative impact on the demand for fire-resistant cables. The fire-resistant cable market has observed a significant decline in its demand in 2020 as well as in the first quarter of 2021, owing to the COVID-19 impact across various end-use industries (majorly the construction, manufacturing & energy industries). . Fire-resistant cable manufacturers were affected in 2020 due to business shutdown mandates, social distancing norms, and limited local and state government office activities. However, the demand for fire-resistant cables was hampered by the pandemic, majorly due to the decline in demand for these cables from the building & construction industry.
Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=228317537
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441