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Global Eco Cable Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Eco Cable Industry Was 943.89 Million USD In 2018
An eco-cable is an environmentally-benign electric wire/cable that uses environmentally-friendly materials and materials with a reduced environmental impact. It is also called an "EM electric wire/cable".
In general, PVC (polyvinyl chloride) is widely used for the sheath and insulation parts of electric wires. However, they have been identified for their possibility to release dioxins upon combustion due to their containing PVC, as well as for their possibility of contaminating soil and groundwater by leaching lead compounds, used as stabilizers, upon being landfilled.
In contrast to conventional PVC cables, eco-cables use polyethylene resins. For this reason, they do not contain halogen elements such as chlorine or heavy metals like lead, and they are easy to recycle, earning them attention as environmentally-friendly products.
The Eco Cable industry was 943.89 million USD in 2018 and is projected to reach USD 1507.28 million USD by 2025, at a CAGR of 6.92% between 2018 and 2025. Top three players occupy for over 35.61% market share in 2018.
Eco-material cables, or eco-cables, are the next generation in control cabling. Poised to replace standard polyvinyl chloride (PVC) cables, eco-cables are becoming more and more popular due to the performance and environmental benefits they provide.
There are, however, some existing barriers to widespread adoption. The additional cost factor with these new cables may deter some companies from purchasing. Many engineers are also slow to adopt new technologies, and traditionally use what they know and are comfortable with. The design, performance and environmental benefits of eco-cables are too substantial to ignore, and with a better understanding of the applications of eco-cables, they may soon become the connector standard.
The market for Eco Cable is fragmented with players such as Fujikura, Hitachi, Furukawa Electric, Nexans, Prysmian Group, Alpha Wire, Oki Electric Cable, Kuramo Electric, Shikoku Cable, JMACS Japan Co., Ltd. are the global leading suppliers.
On the basis of type, the Eco Cable market is segmented into Polyethylene Based and Others by jacket type. The Polyethylene Based segment is expected to account for the larger share of the global market in 2018.
End-users, included in this market are Communication, Petrochemicals, Manufacturing, and Others. The Communication application is expected to account for the largest share of the global market in 2018.
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