Press release
Global Fire-Resistant Cable Market Projected to Surpass $2.48 Billion by 2029 with 5% Annual Growth
Fire-Resistant Cable Market Size
The fire-resistant cable market is set to grow, propelled by the augmentation in electricity generation. The process of producing electricity from primary power sources is denoted as electricity generation, which is advantageous for the fire-resistant cable market. The capacity of these cables to transport electrical energy under extreme conditions, such as fire, ensuring that emergency equipment like signaling, air extractors, sound alarms, and water pumps remain operational, is notable. For instance, the International Energy Agency, a France-based intergovernmental organization, suggested in its January 2024 report that the global electricity demand will accelerate in the next three years, with an anticipated yearly expansion rate of 3.4% through 2026. Consequently, this rise in electricity production is fueling the fire-resistant cable market's growth.
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What is the future CAGR of the fire-resistant cable market, and how will it impact industry expansion?
The growth of the fire-resistant cable market has been consistent in the past few years. Its value is projected to increase from $1.98 billion in 2024 to $2.06 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.0%. The expansion during the historical period can be attributed to factors such as urbanization and increased infrastructure development, specific demands from various industries, increased awareness and education, consideration for environmental impacts and sustainability, improved economic conditions, and overall market growth.
In the coming years, the market size for fire-resistant cables is projected to expand consistently. The figure is forecast to reach "$2.48 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.7%. Various factors contributing to the growth in the forecast period include fire incidents, concerns about the environment, sustainable solutions, heightened cognizance of fire risks, specific industry uses, and development and urbanization of infrastructure. Other important trends slated for the forecast period comprise strict safety guidelines, advanced safety solutions, increased awareness of fire safety, growth in industrial applications, and technological advancements.
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What are the most significant trends transforming the fire-resistant cable market today?
The surge in product innovations demonstrates a key trend that is picking up in the fire-resistant cable market. To solidify their presence in the market, significant organizations in the fire-resistant cable market are focusing on product developments. To illustrate, Nexans, a cable technology solution company based in France, introduced Nexans Fire Safety in April 2023, a comprehensive package encompassing cutting-edge fire protection cable solutions, modular wiring solutions, intelligent packaging, superior services, and digital tools. This package is designed to protect buildings from fire hazards by supplying low fire-hazard cables that minimize smoke density and gas emissions, inhibit flame propagation, and decrease heat emission.
Which key market segments comprise the fire-resistant cable market and drive its revenue growth?
The fire-resistant cable market covered in this report is segmented -
1) By Insulation Material: Ethylene Propylene Rubber-Insulated (EPR), Low Smoke Zero Halogen (LSZH), Polyvinyl Chloride (PVC), Cross Linked Poly Ethylene (XLPE), Other Types
2) By Voltage: 15kV, 16-30 KV, >30KV
3) By End-Use Industry: Automotive And Transportation, Building And Construction, Energy, Manufacturing, Other End-Use Industries
Subsegments:
1) By Ethylene Propylene Rubber-Insulated (EPR): EPR Fire-Resistant Cables, EPR-Insulated Power Cables
2) By Low Smoke Zero Halogen (LSZH): LSZH Power Cables, LSZH Communication Cables
3) By Polyvinyl Chloride (PVC): PVC Fire-Resistant Cables, PVC Insulated Power and Control Cables
4) By Cross Linked Polyethylene (XLPE): XLPE Fire-Resistant Cables, XLPE Insulated Power Cables
5) By Other Types: Silicone-Insulated Cables, Fiberglass-Insulated Cables, Other Specialty Insulation Materials
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What regions are at the forefront of fire-resistant cable market expansion?
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fire-resistant cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the fire-resistant cable market?
Major companies operating in the fire-resistant cable market include LS Cable & System Ltd., Nexans SA, Prysmian SpA, Tratos Limited, El Sewedy Electric Company, Leoni AG, NKT A/S, Relemac Technologies Pvt Ltd., TPC Wire & Cable Corp, General Cable Corporation, Universal Cable (M) Bhd., Furukawa Electric Co. Ltd., Elsewedy Electric S A E, RR Kabel Ltd., Jiangnan Group Limited, Tele-Fonika Kable SA, Bambach Cables, Eland Cables, Top Cable, Belden Inc., Southwire Company LLC, Polycab India Limited, KEI Industries Limited, Finolex Cables Ltd., Havells India Limited, Lapp Group, Caledonian Cables Ltd., Ducab, Oman Cables Industry, Riyadh Cables Group of Companies, Bahra Cables Company, Alfanar Group, Saudi Cable Company, National Cables Industry
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What Is Covered In The Fire-Resistant Cable Global Market Report?
• Market Size Forecast: Examine the fire-resistant cable market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fire-resistant cable market for a structured understanding.
• Key Players Overview: Analyze major players in the fire-resistant cable market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fire-resistant cable market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fire-resistant cable market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fire-resistant cable market.
• Industry Challenges: Identify potential risks and obstacles affecting the fire-resistant cable market.
• Competitive Landscape: Review strategic developments in the fire-resistant cable market, including expansions, agreements, and new product launches.
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