Global Metalclad cable Market Size, Share & Trends Analysis Report, By Metallic Cover Type, By Armor Material, By End-user Industry, By Region Forecasts, 2023 - 2030

Global Metalclad cable Market Size, Share & Trends Analysis Report, By Metallic Cover Type, By Armor Material, By End-user Industry, By Region Forecasts, 2023 - 2030

Global Metalclad cable Market was valued at US $ 3.7 Billion in 2022 and is expected to reach US $ 5.1 Billion by 2030 growing at a CAGR of 4.2% during the forecast period 2023 – 2030.

The production, distribution, and use of electrical cables with a metallic outer coating for increased durability and protection are all included in the metalclad cables market. These cables are perfect for a wide range of applications, such as power transmission, process control, automation, data centres, and more because of their construction, which protects against various environmental conditions, mechanical stress, and electromagnetic interference. The market also offers related parts that are necessary for the effective installation and functioning of metalclad cables, such as terminations and connectors. The metalclad cables market, which focuses on safety, dependability, and energy efficiency, supplies infrastructure development, manufacturing, energy, and construction sectors. It helps ensure the safe and smooth transfer of data and electricity throughout these industries.

The market for metalclad cables is expanding due in large part to the growing need for electricity. The growing urbanisation, extensive infrastructure development, and insatiable thirst for technology improvements are all closely linked to this spike in electricity needs. The need for dependable electrical systems grows as cities grow and new buildings are built, necessitating the use of metalclad cables for effective power distribution. Furthermore, the increasing reliance on renewable energy sources like wind and solar power highlights how important metalclad cables are for transferring clean energy from these sources to the electrical grid. This advances the more general goals of environmental stewardship and sustainable electricity solutions. Metalclad cables are in high demand since heavy industries and manufacturers depend on them for reliable power distribution and process management. This need is further fuelled by the industrial sector's unrelenting growth and its rising power requirements. Concurrently, there is a greater demand for reliable electrical infrastructure due to the faster uptake of cutting-edge technology and smart building systems—a market in which metalclad cables shine.

“Smooth Metallic Sheath segment, by metallic cover type, to be dominating market from 2023 to 2030.”

The smooth metallic sheath is the most popular type of metallic cover in the metalclad cable industry, with a market share that will surpass 58.73% in 2022. This traditional cover style, renowned for its tried-and-true dependability, is widely used in a wide range of metalclad cable applications.

“Aluminium segment, by armor material, to be dominating market from 2023 to 2030.”

Aluminium has emerged as the most popular armour material in the metalclad cable industry, with an amazing market share expected to surpass 53.47% by 2022. Aluminium is a popular material since it is inexpensive, lightweight, and corrosion-resistant by nature. Together, these characteristics make it the best option for metalclad cable armour material because it combines functionality and practicality. Steel is the second most popular armour material, coming in second with a market share of more than 30% in 2022. Although steel is known for its strength and long-lasting durability, it is more expensive and heavier than aluminium. Its use is common in situations where increased durability and strength are necessary.

“Industrial segment, by end user industries, to be dominating market from 2023 to 2030.”

The industrial sector commands a substantial market share surpassing 54% in 2022. Metalclad cables are highly versatile and are used extensively in the industrial sector for a wide variety of purposes. These uses, which include automation, process control, and power transmission and distribution, demonstrate how essential metalclad cables are to this industry. The industry's constant and pressing demand for dependable electrical and automation systems, which spans sectors including manufacturing, petrochemical, and power generation, is the basis for this dominant position. Since they offer unmatched resistance to climatic variables, mechanical wear and tear, and electromagnetic interference, metalclad cables have become the standard option. These cables are essential for power and data transmission as more sectors adopt process automation, supporting the industry's unwavering focus on robustness and safety regulations.

“North America to be largest region in Metalclad cable market.”

With a market share that will surpass 35% in 2022, North America leads the global market for metalclad cables. This leading position is a result of North America's standing as the region with some of the largest and most developed economies in the world, where there is a constant need for metalclad cables in the industrial, energy, and construction sectors. Additionally, because of its robust industrial base, well-established infrastructure, and steady demand for these cables across a range of industries. The region's supremacy in the market has been attributed to its concentration on industrial growth, infrastructural enhancements, and strict adherence to safety regulations.

Metalclad cable Competitive Landscape

The competitive landscape of the Metalclad cable market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Metalclad cable technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Metalclad cable market is highly competitive, with numerous companies vying for market share. Prominent companies in the Metalclad cable Market include:

Prysmian Group, Nexans, NKT Cables, General Cable, LS Cable & System, Hitachi Cable, Sumitomo Electric Industries, Furukawa Electric, Kabelwerke Brugg, Mitsubishi Electric, Southwire Company, Belden, TE Connectivity, Molex, Amphenol, Leviton Manufacturing, Schneider Electric, Siemens, Eaton, ABB and others.

Recent Developments:

The ground-breaking MCable Futura XLPE metalclad cable, designed for high-voltage and high-current applications, was presented by Prysmian Group in October 2023. This cutting-edge cable has many improvements, such as a new insulating material that is more resistant to heat and chemicals and an improved conductor design.

In September 2023, General Cable successfully obtained a significant contract to provide metalclad cables for a newly constructed American power plant. With a value above $100 million, the agreement ranks among the biggest contracts ever awarded in the metalclad cable sector.

Nexans unveiled a unique metalclad wire designed for use in renewable energy projects in August 2023. This cable is made of materials that resist UV rays and corrosion, and it is made to withstand the harsh weather that renewable energy locations typically experience.

When NKT Cables purchased a well-known American maker of metalclad cables in July 2023, the news was publicised. By taking this calculated risk, NKT Cables increases its market share in the US and increases the variety of metalclad cables it offers to consumers.

A new metalclad cable that is low-smoke and fire-resistant was launched by LS Cable & System in June 2023. Applications in buildings and other locations where fire safety is a top priority are especially well-suited for this cable.