Fire-Resistant Cable Market worth $2.1 billion by 2026 | Key players Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), and LS Cable & System Limited (South Korea).

According to recent market research the "Fire-Resistant Cable Market by Insulation Material(EPR, LSZH, PVC, XLPE), End-use Industry(Automotive & Transportation, Building & Construction, Energy, Manufacturing), and Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026", size is projected to grow from USD 1.8 billion in 2021 to USD 2.1 billion by 2026, at a CAGR of 3.3% from 2021 to 2026. The market is projected to grow in accordance with the increasing awareness regarding fire safety, rapid pace of industrialization and urbanization, and the implementation of fire safety regulations by governments across the globe. Furthermore, the fire-resistant cable market has witnessed a significant increase in demand from building & construction industry, owing to the growing requirement for public safety from fire incidents.

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XLPE, by insulation material, accounted for the largest market share in the fire-resistant cable market. High thermal short circuit rating, excellent electrical property maintained under full temperature range, resistance to thermal deformation at high temperatures, excellent water resistance and low permeability to water, excellent chemical resistance, high durability, and long operational life are some of the properties fueling the growth of the XLPE segment.

Building & Construction, by end-use industry, accounted for the greatest demand for fire-resistant cables in 2020, in terms of value and volume. The growing building safety awareness among masses has led to the increase in demand for fire resistant cables. Fire resistant cables find application in the distribution of power in almost every commercial and residential building. The increasing construction activities are driving the fire-resistant cable market in the building & construction industry.

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The APAC region is projected to lead the fire-resistant cable market in terms of both value and volume from 2021 to 2026. Growing population and rapid urbanization are among the key factors propelling industry expansion in the region, during the forecast period. The cables are easy to install and maintains the reliability of the electrical circuits and can withstand at high temperature & during fire ensuring the human safety. Growing construction as well as automotive industries, amongst others, in APAC countries, are fueling the fire-resistant cable demand in the region.

Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), and LS Cable & System Limited (South Korea), and Elsewedy Electric Company (Egypt), amongst others, are the key players operating in the fire-resistant cable market. Acquisitions, investments, expansions, collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the fire-resistant cable market.

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The Prysmian Group is an Italian manufacturer which specializes in the production of electrical cables for the use in energy and telecommunication sectors, and for optical fibres. The company is a leader in the fire-resistant cable market and has acquired General Cable Corporation (US), a key manufacturer and distributor of cable & wire, in 2017. This acquisition has enhanced and broaden the product portfolio as well as customer base of Prysmian Group for fire-resistant cables globally. The company is strategically well placed and has a strong customer base across the globe. It has a strong and extensive product portfolio of fire-resistant cables. It has an extensive global reach, strong market position, and stable revenue generation.

Nexans S.A. is one of the pioneers in cable industry and offers high brand value by offering premium and high-quality fire-resistant cables. Nexans S.A. has a wide geographic presence with offices across the world and focuses on developing innovative products and solutions in the fire-resistant cables market due to its strong technical expertise in cable-related product markets. The company has a strong financial background and invests large amounts in R&D activities. Furthermore, it has its industrial footprints in 38 countries, 98 production sites and logistic centers, with sales presence worldwide.

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