According to Stratistics MRC, the Global Fire Resistant Cable market is estimated at $1.62 billion in 2017 and is projected to reach $2.41 billion by 2026, at a CAGR of 4.5%.
Gaithersburg, MD, US – July 13, 2018 —
Rising demand for fire resistant cable from various industries, increasing power generation across the globe and increasing regulations for fire safety across geographies are some factors driving the market growth. However, a volatile price of raw materials is one of the major factors restraining the market growth.
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Fire resistant cables are designed to defy combustion and limit the propagation of flames. Fire resistant cables are often used to uphold circuit integrity of those vital life safety systems such as fire alarm and suppression services increasingly used in public and government buildings and where there is sensitive electronic equipment these cables are designed for increased safety. Low smokes cables have a covering designed to limit the amount of smoke and toxic halogen gases given off during fire situations. Most cables used in installations have been insulated with PVC or similar materials.
Based on insulation material, the Cross linked poly ethylene (XLPE) segment accounted for considerable market share during the forecast period. The growth of this segment can be attributed to its easy availability of XLPE, average price than other insulation materials, and excellent insulation properties. By geography, Asia pacific held the largest market share due to growth in building & construction and automotive & transportation industries. China is the largest consumer of fire resistant cable in the Asia Pacific region. The growing manufacturing industry in China is also leading to the growth of the Fire Resistant Cable Market in the country. Increased demand for fire safety and government regulations is another factor driving the consumption of fire resistant cable in China.
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Some of the key players in Fire Resistant Cable market are General Cable Corporation, Leoni AG, Universal Cable (M) Berhad, Sewedy Electric Company, Prysmian Group, Tele-Fonika Kable SA, Tianjin Suli Cable Group, LS Cable & System Ltd, Dubai Cable Company (Private) Ltd, NKT Group, Keystone Cable, Tratos Limited, Nexans S.A and Jiangnan Group Limited.
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Insulation Material Covered:
• Polyvinyl Chloride (PVC)
• Ethylene Propylene Rubber-Insulated (EPR)
• Cross Linked Poly Ethylene (XLPE)
• Low Smoke Zero Halogen (LSZH)
• Other Insulating Materials
• Automotive & Transportation
• Building & Construction
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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