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Fire Resistance Cable Market Size 2021 Industry Share, Strategy, Geographical Statistics, Growth Status, Key Cost Structure and Future Investments Analysis Report 2030

Report Ocean published a new report on the fire resistance cable market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2021 to 2030.

The fire resistance cable market revenue was US$ 1.86 billion in 2021. The fire resistance cable market revenue is forecast to reach US$ 2.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.9% during the forecast period from 2021 to 2030.

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A fire-resistance cable, also known as circuit integrity (CI) cable, maintains circuit integrity during a fire for a specified period of time. These cables typically feature solid conductors and soft jackets. High temperatures cause the soft, flexible insulating material to change and become a fire-resistance insulator, thereby protecting the conductors. A fire alarm, voice alarm, and emergency lighting system can be controlled and powered with these cables.

Factors Influencing Market Growth

A rise in demand for fire-resistant cables from the building and construction sector, increased safety and security laws across regions, and increased electricity generation has contributed to the growth of the global fire resistance cable market.

The demand for the fire resistance cable market is forecast to increase in the coming years due to grid maintenance, infrastructure replacement, underground infrastructure conversion, and the expansion of rail networks globally.

Volatility in raw material prices, on the other hand, may have a negative impact on the growth of the global fire resistance cable market.

Impact Analysis of COVID-19

COVID-19 cases have negatively affected the fire resistance cable market. In the first quarter, the fire resistance cable market experienced a significant decline in demand. It is due to the impact of COVID-19 on several end-user industries (mainly construction, manufacturing, and energy). The fire resistance cable industry was affected by plant closure obligations, social distance standards, and a lack of activity by local and state authorities. Nevertheless, the demand for fire-resistance cables has been hampered by pandemics, mainly due to a decline in construction-industry demand.

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Regional Insights

Region-wise, Asia Pacific dominated the global fire resistance cable market and is forecast to remain dominant during the forecast period. The region has been experiencing growth due to an increase in construction activities, automotive sales, and expanding transportation industries. Further, the growth of manufacturing industries, particularly in China, is related to the market process in the region. Increasing fire incidents and government regulations that restrict using poor quality materials are driving the market size. Thus, all these factors are driving the growth of the regional fire resistance cable market.

Leading Competitors

The leading prominent companies profiled in the global fire resistance cable market are:

EL Sewedy Electric Company

Furukawa Electric Co., Limited

Leoni AG

LS Cable & System Limited

Nexans S.A.

NKT Group

Prysmian Group

Relemac Technologies Pvt. limited

TPC Wire & Cable Corporation

Tratos Limited

Other Prominent Players

Scope of the Report

The global fire resistance cable market segmentation focuses on Insulation Material, End-Use Industry, and Region.

Segmentation based on Insulation Material

Ethylene Propylene Rubber-Insulated (EPR)

Low Smoke Zero Halogen (LSZH)

Polyvinyl Chloride (PVC)

Cross Linked Poly Ethylene (XLPE)

Others

Segmentation based on End-Use Industry

Automotive & Transportation

Building & Construction

Energy

Manufacturing

Others

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Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Aim of the Report

This study aims to determine the market size of various segments and countries with forecast values for next ten years.

Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.

It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.

The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.

Access full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=BWCC558

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.

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Updated : 2022-05-20 21:53 GMT+08:00