Fire Resistant Cable Market Size, Share, Growth & Forecast 2027 - PDF document

Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 Global Fire - Resistant Cable Market - Industry Trends & Forecast Report 2027 A study recently conducted b y the strategic consulting and market research fir m BlueWeave Consulting revealed that the global fire - resistant cable market was worth USD 1,760.1 million in 2020 and is further projected to reach USD 2,211.5 million by 2027, at a CAGR of 3.4 % during the forecast period (2021 - 2027). Due to the rising construction and industrial sectors, increased need for fire safety products, rapid urbanization, and globalization, the global fire resistant cable market has seen tremendous growth. Moreover, replacing aging infrastructure, grid maintenance, conversion of overhead lines into underground lines, and the development of rail networks worldwide are likely to increase the consumption of fire - resistant cables during the forecast period . Global Fire - Resistant Cable Market - Industry Trends & Forecast Report 2027 Global fire - resistant cable market was worth USD 1,760.1 million in 2020 and is further projected to reach USD 2,211.5 million by 2027 at a CAGR of 3.4 % during the forecast period (2021 - 2027). In the coming years, the market for fire - resistant cables is l ikely to rise significantly due to the increasing demand for fire - resistant cables in the building and construction, industrial, energy, and automotive sectors. In addition, a growing awareness of fire safety, increased industrialization and urbanization, and the adoption of fire safety legislation worldwide have all boosted View report Press release Sample report Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 the demand for fire - resistant cables, thereby driving the growth of the fire resisitant cable market. Source: BlueWeave Consulting Global Fire - Resistant Cable Market Overview Fire resi stance cable is also known as fire - performance cable, or fire - survival cable. Fire - resistant cables continue to operate normally for a specific time after being exposed to prolonged fire. These cables are designed to provide circuit integrity for applicati ons like sprinkler systems, emergency lighting, rescue elevators, alarm horns, and smoke exhaust systems during a fire. Cables of this type have a higher melting point, are more resistant to burning, produce less smoke and toxicity, and produce less acid g as. Further, such cables are constructed with high - quality materials to be suitable for applications with greater mechanical loads and to protect the power supply during a fire. G lobal Fire - Resistant Cable Market Trend Growth Drivers Rise in Demand for Fir e - Resistant Cables for Fire Safety & Protection is Propelling the Market Growth Fire - resistant cables produce less smoke, are low in toxicity, emit little acid gas, and are resistant to combustion and high temperatures. A fire - resistant cable will safeguar d circuit integrity in the event of a fire. Several end - use sectors are seeing an increase in demand for fire - resistant cables in response to the need for public safety against fires. For instance, NKT Group signed service agreements with Elia, 50 Hertz, a nd Nemo Link in November 2020 to integrate energy into the Belgian, UK, and German power grids. Various end - use sectors require fire - resistant cables for fire protection and safety during fire mishaps or disasters, therefore expanding the market demand for fire - resistant cables. Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 Restraints Instability in Raw Materials Prices is Hampering the Growth of the Market The costs of raw materials and the energy required to manufacture fire - resistant cables are constantly fluctuating. The value chain, which includes procurement and operating costs, is directly affected by the unpredictable prices of these commodities. Manu facturers' profit margins are also affected by sudden fluctuation in prices. Rubber, copper, plastic, and aluminum are among the most common raw materials utilized in manufacturing fire - resistant cables. Variations in the prices of these raw materials are primarily due to the instability of energy and crude oil costs, which are necessary for the manufacturing and transportation of these goods. Raw materials for fire - resistant cables increase in cost when crude oil and energy prices fluctuate. As a result, t he cost of these materials affects the cost of fire - resistant cables directly. Global Fire - Resistant Cable Market Impact of COVID - 19 The novel coronavirus has negatively impacted the fire - resistant cable market. Across various end - use industries (mainly co nstruction, manufacturing, and energy), the fire - resistant cable market has seen a huge drop in demand in 2020 and the first quarter of 2021. POSOCO, IEA International Energy Agency Global Energy Review 2020, states that the COVID - 19 in India resulted in o ne of the largest electricity demand drops in the world, with power demand falling by 28% by the end of March 2020. In the days following the emergency lockdown, which began on March 25, 2020, hospitals, critical services, and the residential sector increa sed their energy consumption, but industrial demand and commercial activity decreased significantly. As the market recovers from the pandemic, the government and various manufacturers are working together to push the market forward. Global Fire - Resistant C able Market: By End - Use Industry Based on the end - use industry, the global fire - resistant cable market is segmented into building & construction, automotive & transportation, manufacturing, energy, and others. The building & construction segment accounted for the largest market share in 2020 and is likely to dominate the segment during the forecast period. The public's growing awareness of building safety has resulted in a rise in demand for fire - resistant cables. In both residential and non - residential env ironments, fire - resistant cables can be utilized for wiring and connectivity. The cables are easy to install, ensure electrical circuit reliability, and are able to withstand high temperatures during fires, thus ensuring human safety. Furthermore, these ca bles are used in every commercial and residential facility to distribute electricity. With the surge in construction activity, fire - resistant cables are witnessing high demand. Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 Source: BlueWeave Consulting Global Fire - Resistant Cable Market: Regional Insi ghts Geographically, the global fire - resistant cable market is categorized into North America, Europe, the Asia - Pacific, the Middle East & Africa, and Latin America. Among all the regions, the Asia - Pacific region held the largest share in the fire - resista nt cable market in 2020 and is likely to dominate the market during the projection period. A growing population and rapid urbanization have fueled the region's industrial expansion, thereby propelling the fire resistant cable market. The cables are simple to install and preserve the electrical circuits' stability. They can also endure extreme temperatures and fires, ensuring human safety. The demand for fire - resistant cables in APAC countries is fueled by the region's growing construction and automobile ind ustries. Source: BlueWeave Consulting Competitive Landscape The fire - resistant cable market is moderately consolidated due to the presence of limited domestic and international players. Additionally, the emergence of new players has resulted in healthier competition among long - established service Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 providers in the industry. Some key players in the global fire - Resistant Cable market are Prysmian Group, Nexans S.A., Nkt Group, Leoni Ag, Ls Cable & System Limited, Elsewedy Electric Company, Jiangnan Group Limi ted, Hitachi Metals Ltd., Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Yazaki Corporation, Swcc Showa Cable Systems Co Ltd., Universal Cable (M) Berhad, Tratos Limited, Keystone Cable, Dubai Cable Company (Private) Ltd. , and Other Prom inent Players. Recent Developments  In March 2021, Jiangnan Group announced its plans to import two German concentric stranding machines and install 4 imported cross - linked cable production lines, including 2 production lines for 35kV ultra - high - speed medium - voltage cross - linked cables, 1 production line f or 110kV PP cables, and 1 production line for 110kV cross - linked cables.  In October 2020, to ensure the timely reinforcement and expansion of the power grid in central Sweden, NKT Group and Ellevio signed a frame agreement for low and medium - voltage power lines. Scope of the Report Attribute Details Years Considered Historical data – 2017 - 20 20 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD million Market Coverage U.S, Canada, France, Germany, United Kingdom, Rest of the Europe, Japan, China, India, New Zealand, Australia, Rest of the APAC, Brazil, Mexico, Rest of the Latin America, South Africa, Saudi Arabia, UAE, and Rest of MEA. Product/Service Segmentation By I nsulation Material, By End - Use Industry, and By Region Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027 Key Players Key Players for the market Some of the key players include Prysmian Group, Nexans S.A., Nkt Group, Leoni Ag, Ls Cable & System Limited, Elsewedy Electric Company, Jiangnan Group Limited, H itachi Metals Ltd., Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Yazaki Corporation, Swcc Showa Cable Systems Co Ltd., Universal Cable (M) Berhad, Tratos Limited, Keystone Cable, Dubai Cable Company (Private) Ltd. , and Other Prominent Players.  By Insulation Material o   Cross - Linked Polyethylene (XLPE)  Polyvinyl Chloride (PVC)  Low Smoke Zero Halogen (LSZH)  Ethylene Propylene Rubber (EPR)  Others  By End - Use Industry o   Building & Construction  Automotive & Transportation  Manufacturing  Energy  Others  By Region o   North America  Europe Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027  The Asia - Pacific  Latin America  The Middle East and Africa About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Fire - Resistant Cable Market Reaching a New Peak — Projected to Reach worth USD 2,211.5 Million by 2027