Global Fire-Resistant Cable Market 2022-2028

Global Fire-Resistant Cable Market 2022-2028

The global fire-resistant cable market is anticipated to grow at a modest CAGR of 5.5% during the forecast period (Post COVID-19 scenario). Fire-resistant cables have great significance in aerospace, automotive, building, and construction, among other domains, owing to various properties such as fire resistance and durability. The fire-resistant cables are increasingly adopted around the globe owing to various benefits such as the continuation of work even in the presence of fire and maintains the integrity of the electrical circuit. Due to this, the fire resistance cables are used for the fire alarm and other security purposes in homes, buildings, commercial places, and at industrial settings. The global fire-resistant cable market was valued nearly around $1.8 billion in 2021.

Increasing concerns regarding fire safety in homes, as well as the commercial and industrial settings, is the major factor for the growth of the fire-resistant cable market across the globe. Moreover, fire-resistant cables burn to ashes without propagating any flame in the events of fires. Therefore, cables do not cause any smoke (or very less smoke) and hence, cause no visual impairment to the individuals stuck in the fire. Fire-resistant cables also have low toxicity and therefore, cause little or no harm to the individuals as well as to equipment from halogenated acid gases and other toxic fumes. The aforementioned factors are expected to increase the adoption of the fire-resistant cable which in turn will drive the fire-resistant cable market.

The global fire-resistant cable market is segmented based on the insulation material and end-use industry. Based on insulation material, the market is further sub-segmented into EPR (ethylene propylene rubber), LSZH (low smoke zero halogens), XLPE (cross-linked polyethylene), and PVC (Poly Vinyl Chloride). LSZH is expected to hold the largest market share during the forecast period owing to no halogen emission from the cable during the fire and significant marketing by the companies of the products squeezing maximum on this property. Based on the end-use industry, the market is sub-segmented into automotive and transportation, energy, manufacturing, building and construction, and others. Automotive & transportation also include marine, aviation, and railways. Energy includes renewable energy such as wind, solar, offshore; hydro, thermal & nuclear power plants, and oil & gas sectors. Building & construction include homes, commercial buildings, offices, and other public places. Others include the telecom sector.

The global fire-resistant cable market is further analyzed based on the geographical regions that are contributing significantly towards the growth of the market. The market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is the largest and fastest-growing market during the forecast period.

Key market players contributing into the growth of the global fire-resistant cable market include Prysmian Group, Anixter, Inc., Nexans, Tianjin Suli Cable Group Ltd., NKT A/S, among others. To remain competitive in the market, these market players adopt various strategies such as mergers & acquisitions, new product launch, geographical expansion, partnerships, collaborations, among others. For instance, in April 2021, HUBER+SUHNER became a cable partner for Bombardier Transportation as part of a new five-year agreement which will extend the companies’ collaboration to more than 25 years. The deal will see HUBER+SUHNER continue to provide its power, control, and communication cables to Bombardier’s existing rolling stock and future platforms globally. The HUBER+SUHNER railway solutions include RADOX cables, radiofrequency, and fiber optic products, which have been designed to meet the needs of the rail industry.