New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fire-Resistant Cable Global Market Report 2023" - https://www.reportlinker.com/p06479936/?utm_source=GNW
, Furukawa Electric Co. Ltd., Elsewedy Electric S A E, and RR Kabel Ltd.
The global fire-resistant cable market is expected to grow from $1.82 billion in 2022 to $1.91 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fire-resistant cable market is expected to reach $2.22 billion in 2027 at a CAGR of 3.8%.
The fire-resistant cable market consists of sales of single-core cables, mineral-insulated (MI) fireproof cables, metal-clad (MC) fireproof cables, and multi-core cables.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Flame resistant cables are high-performance fireproof cables that operate well in extreme fire breakout scenarios. A fire-resistant cable is specially intended to transport electrical energy in severe conditions during a fire, ensuring power to emergency equipment such as signaling, smoke extractors, acoustic sirens, water pumps, and others.
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fire-resistant cable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main fire-resistant cable insulation material types are ethylene propylene rubber-insulated (epr), low smoke zero halogen (lszh), polyvinyl chloride (pvc), cross linked poly ethylene (xlpe), and others.Ethylene propylene rubber-insulated (EPR) refers to a type of insulation material that is used in a wide range of voltages and applications, including low, medium, and transmission voltages, control and equipment wiring, cables, extraction cables, and cable accessories.
The various voltages are 15kv, 16-30 kv, and >30kv, used in various industries that include automotive and transportation, building and construction, energy, manufacturing, and others.
The increasing electricity generation is expected to propel the growth of the fire-resistant cable market going forward.Electricity generation refers to producing electricity through the primary sources of power.
The generation of electricity benefits the fire resistance cable market because these cables are designed to convey electrical energy under the severe circumstances that occur during a fire, ensuring that power is available to emergency devices such as signaling, air extractors, sound alarms, pumping water, and others. For instance, in 2021, according to a report issued by the Energy Information Administration (EIA), a US-based agency of the U.S. Federal Statistical System responsible for collecting, analyzing, and disseminating energy information to promote sound policymaking, in 2021, net energy generation from utility-scale facilities in the United States is expected to be around 4,116 billion kilowatt hours (kWh). According to the EIA, small-scale solar photovoltaic (PV) systems produced an additional 49.03 billion kWh (or around 0.05 trillion kWh). Moreover, an increase of around 61% of utility-scale electricity output in the United States was generated by fossil fuels (coal, petrol, and diesel), 19% by nuclear energy, and 20% by alternative energy sources. Therefore, increasing electricity generation is driving the growth of the fire-resistant cable market.
Product innovations have emerged as the key trend gaining popularity in the fire-resistant cable market.Major companies operating in the fire-resistant cable market are developing product innovations to strengthen their position in the market.
For instance, in May 2020, American FireWire, a US-based manufacturer of fire-resistant cable, launched AFW-2HFR-3, a Generation 3 Fire-Resistant Coaxial Cable for DAS Installations with First Responders in Mind.It has unique features like a 50-Ohm, two-hour fire-rated coaxial cable designed for distributed antenna system (DAS) deployments.
The necessary components of public safety DAS systems can avert disasters such as floods, fires, and earthquakes, which limit the communications available to first-responder teams on the ground.
In March 2023, Elettrotek Kabel SpA, an Italy-based metal construction company, acquired Controlcavi Industria Srl for an undisclosed amount.Through this acquisition, CCI Cable Service will broaden the reach of the EK Group, enabling it to maintain its growth trajectory.
Controlcavi Industria Srl is an Italy-based manufacturer of fire-resistant cables.
The countries covered in the fire-resistant cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fire-resistant cable market research report is one of a series of new reports that provides fire-resistant cable market statistics, including fire-resistant cable industry global market size, regional shares, competitors with a fire-resistant cable market share, detailed fire-resistant cable market segments, market trends and opportunities, and any further data you may need to thrive in the fire-resistant cable industry. This fire-resistant cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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