According to a new report by Grand View Research, Inc., the global market for fire resistant cable materials is projected to reach USD 718.8 million by 2027, growing at a CAGR of 4.4% between 2020 and 2027. The rising need for materials capable of enduring high temperatures or fire incidents for specific durations is expected to drive demand during the forecast period.
The availability of advanced cable materials with superior heat and fire resistance is anticipated to boost their use in cable jacketing applications. Additionally, increasing deployment of electrical wiring systems in modern construction and industrial infrastructure is likely to create growth opportunities for the market.
Strict regulations around green building practices in key regions such as North America and Europe are expected to further support the demand for fire-resistant cables. Ongoing technical advancements in wire insulation materials are also projected to positively influence market growth. Furthermore, the introduction of next-generation electrical and electronic devices is likely to contribute to rising demand.
Key industry players are heavily investing in R&D to enhance fire resistance properties in cable products. Mergers and acquisitions are also being utilized to expand geographical reach in an increasingly competitive market.
Fire Resistant Cable Materials Market Report Highlights
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Regional InsightsIn 2019, Asia Pacific held the largest regional market share at 31.6% and is anticipated to maintain its dominance through 2027. Countries such as China, India, Japan, South Korea, and Australia are witnessing growing demand for fire-resistant cables due to enhanced safety requirements in residential and commercial structures. Expanding automotive production and strong electrical equipment manufacturing are also driving demand.
China emerged as the leading consumer within the region, driven by robust demand in the construction sector. Its mature electrical and electronics industry and growing number of production facilities are expected to continue fueling market growth.
In Europe, demand is likely to be propelled by increased electric vehicle production and ongoing development in the construction sectors of countries like France, Germany, and Italy.
The Middle East and Africa region is projected to register the fastest CAGR at 5.1% from 2020 to 2027. Rapid expansion in construction across the region, including major commercial and office developments, is expected to stimulate demand for fire-resistant materials. Notably, Saudi Arabia and the UAE have several upcoming projects that offer strong growth potential.
Key Companies in the Fire Resistant Cable Materials Market
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Fire resistant cables are developed to maintain circuit integrity in case of a fire and ensure safe evacuation with no detrimental effects of smoke and toxic gases.The fire resistant cable market is anticipated to grow in the forecast period owing to improvements in the quality of fire resistant cable coupled with the growing demand for fire resistant cables from the building and construction industry.
The safety and security regulations in countries like the U.S, Europe, and Japan has boosted the growth of fire resistant cable market.
The Global Fire Resistant Cable Market is expected to reach USD 2.3 billion by 2025, from USD 1.7 billion in 2017 growing at a CAGR of 3.3% during the forecast period of 2018 to 2025.
By insulation material, the fire resistant cable market is divided as XLPE, PVC, LSZH, EPR, and others.
Furthermore, these regions are divided into major countries, such as the U.S., India, Germany, France, UK, China, Japan, and Brazil.This report segments the global fire resistant cable market as follows:Global Fire Resistant Cable Market: Insulation Material AnalysisXLPEPVCLSZHEPROthersGlobal Fire Resistant Cable Market: End-Use Industry AnalysisBuilding & ConstructionAutomotive & TransportationManufacturingEnergyOthersRequest for Table of Contents: http://www.marketgrowthanalysis.com/reports/toc/207The report provides a detailed overview of the industry including both qualitative and quantitative information.
It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
Latest research on Global Fire-Resistant Cable Market report covers forecast and analysis on a worldwide, regional and country level.
this report included a special section on the Impact of COVID19.
Also, Fire-Resistant Cable Market (By major Key Players, By Types, By Applications, and Leading Regions) Segments outlook, Business assessment, Competition scenario and Trends .Some of the key players’ Analysis in Fire-Resistant Cable Market@ Jiangnan Group,NKT,Leoni,Tele-Fonika Kable,General Cable,Nexans,Universal Cable (M) Berhad,Dubai Cable Company,Keystone Cable,Tianjin Suli Cable,Tratos Limited,EL Sewedy Electric,Prysmian Group,LS Cable & SystemSample Copy Of Fire-Resistant Cable Market Report https://www.reportsandmarkets.com/sample-request/global-fire-resistant-cable-market-4193420?utm_source=icibs_medium=6 One of the crucial parts of this report comprises Fire-Resistant Cable industry key vendor’s discussion about the brand’s summary, profiles, market revenue, and financial analysis.
The report will help market players build future business strategies and discover worldwide competition.
A detailed segmentation analysis of the market is done on producers, regions, type and applications in the report.On the basis of geographically, the market report covers data points for multiple geographies such as United States, Europe, China, Japan, Southeast Asia, India, and Central& South AmericaAnalysis of the market:Other important factors studied in this report include demand and supply dynamics, industry processes, import & export scenario, R development activities, and cost structures.
Besides, consumption demand and supply figures, cost of production, gross profit margins, and selling price of products are also estimated in this report.The conclusion part of their report focuses on the existing competitive analysis of the market.
