Press release
Insulated Cables Market 2020 Increasing Demand, Growth Analysis and Strategic Outlook - 2030 (Based on 2020 COVID-19 Worldwide Spread)
Insulated Cables Global Market Report 2020-30: Covid 19 Impact And Recovery Including: 1) By Type: Copper; Aluminum; Fiber Optic; Others; 2) By Application: Electrical Equipment; Construction; Telecommunications; Motor Vehicles; Industrial Machinery Covering: Southwire; 3M; ABL Electronic Supplies, Inc; AFC Cable SystemsMajor players in the insulated cables market are Southwire, General Cable, 3M, ABL Electronic Supplies, Inc., AFC Cable Systems, Amphenol Corp, Asia Pacific Wire, and Cable Corporation Limited, Belden, Inc., Cable USA and LS Corporation.
The global insulated cables market was worth $158.45 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.88% and reach $199.16 billion by 2023.
The insulated cables market covered in this report is segmented by type into copper, aluminum, fiber optic, others. It is also segmented by application into electrical equipment, construction, telecommunications, motor vehicles, industrial machinery.
The insulated cables market consists of sales of insulated cables and related services that are used in various applications such as electrical equipment, construction, telecommunications, and motor vehicles. The insulated cable is a cable that is resistant to electric current as it consists of non-conductive material. Insulated cables are used in lights, fans, computers, television, and telephone.
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Poor heat resistance is expected to limit the growth of the insulated cables market. The insulated cables are less resistant to high temperatures causing the wear and tear of the coated material outside the wire. The insulation material declines over a period time increases the risk of short circuits. For instance, the cross-linked polyethylene (XLPE) wires can operate at a temperature of 105 degrees for a limited time without reducing the service life of the cable however the wire when exposed to a temperature exceeding 200 degrees Celsius, will result in short circuit. XLPE wires are made up of cross-linked polyethylene and insulated with an aluminum conductor. Therefore, the poor heat resistance in insulated cables limits the growth of the insulated cables market.
The latest trend in the insulated cables market is the development of efficient, reliable and eco-friendly cables used for power transmission. The new cables are produced to provide power transmission across long distances coupled with high thermal performance and high reliability. The new eco-friendly cables that reduce carbon emission, represent the next generation solutions for land cable systems. Following the trend, in 2019, Prysmian Group, an Italy based manufacturer of electric power transmission and telecommunications cables, completed its testing for two new 525 kV land cable systems that use a zero-gas process that reduces carbon emission by around 30%. The two cable systems use P-Laser and XLPE insulations. P-Laser is an eco-friendly insulated Extra High-Voltage (EHV) cable that can operate in harsh environments with increased operating temperatures of 20% whereas the XLPE insulated cable system uses a new insulation compound specific for high voltage power transmission.
Increased use of insulated cables and wires in the automotive sector will enhance the growth of the insulated cables market. Insulated wires are used to handle unique stress during the manufacturing process in the automotive industry and are also used to connect car batteries with other components. The heavy demand for insulted wires in the automotive industry is supported by the wide range of insulting wires offered by the manufacturers in the insulated cables market. According to the European Automobile Manufacturers Association (ACEA), as of 2019, there were a total of 98.1 million units of motor vehicles along with 79.3 million units of passenger cars produced in the world. Therefore, the increasing use of insulated cables and wires in the automotive sector is driving the market.
In June 2018, Prysmian Group, an Italian based electric power transmission, and telecom cables and systems manufacturer, acquired General Cable Corporation for $30 per share in cash. The acquisition of General Cable Corporation was aimed to strengthen the Prysmian Group in the business of cables and wires. General Cable Corporation, is a USA-based company manufacturer of cables and wires with manufacturing facilities in core geographical markets and sales distribution worldwide.
Regional Analysis For Insulated Cables Market:
For comprehensive understanding of market dynamics, the global Insulated Cables market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India and others.
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Influence of the Insulated Cables market report:
-Comprehensive assessment of all opportunities and risk in the Insulated Cables market.
-Insulated Cables market recent innovations and major events.
-Detailed study of business strategies for growth of the Insulated Cables market-leading players.
-Conclusive study about the growth plot of Insulated Cables market for forthcoming years.
-In-depth understanding of Insulated Cables market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Insulated Cables market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Insulated Cables Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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