Fire-Resistant Cable Market Analysis | 2023-28

Market Insights

The global fire-resistant cable market is estimated to grow from USD 1.97 billion in 2022 to USD 2.4 billion by 2028 at a CAGR of 3.2% during the forecast period. 

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What is a fire-resistant cable?

Fire-resistant cable is a type of electrical cable designed to maintain its functionality for a specified time during a fire. These cables are constructed with materials that can withstand high temperatures and prevent the spread of flames and smoke. The primary goal is to maintain the integrity of the electrical circuit and communication systems even in the presence of a fire, allowing critical systems to continue functioning for an extended period.

Market Dynamics

Driver: Surge in demand for fire-resistant cables

Fire-resistant cables, also known as fire-proof or fire survival cables, are designed to maintain circuit integrity during fires. They offer high resistance to combustion, high temperatures, and low smoke emissions, reducing the generation of acid gases. These properties protect human life and are in high demand across various industries due to public safety concerns. The global market is experiencing growth opportunities for fire-resistant cables, indicating the need for their use in various industries for fire protection and safety during incidents.

Opportunity: Increase in demand for fire-resistant cables for power generation

The International Energy Agency reports a 4.5% increase in global electricity demand in 2021, with 80% of the increase in demand coming from emerging markets and developing economies. China alone accounts for half of global growth. The US Energy Information Administration predicts the global energy demand will reach 736 quadrillion Btu by 2040, with non-OECD countries like India and China accounting for over half of global total energy consumption. This demand is expected to be met by new generation capacity additions, requiring new transmission and distribution infrastructure and creating opportunities for the fire-resistant cable market.

Key Players

Some of the fire-resistant cable top manufacturers are-

• Prysmian Group
• Nexans S.A.
• General Cable Corporation
• NKT Group
• Leoni AG
• LS Cable & System Ltd.
• EL Sewedy Electric Company
• Tratos Limited
• Jiangnan Group Limited
• Tele-Fonika Kable SA.

Segment Analysis

By Insulation Material Type

The market is segmented as XLPE, PVC, LSZH, EPR, and others. The XLPE segment is estimated to register the highest growth in the coming five years. This growth is attributed to the increasing demand for fire-resistant cables from end-use industries.

By End-Use Industry Type

The market is segmented as building & construction, automotive & transportation, manufacturing, energy, and others. The building & construction segment is expected to lead the market during the forecast period. Rapid urbanization and rising safety standards drive the growth of this segment.

By Region

Asia-Pacific is expected to be the fastest-growing market for fire-resistant cables in the coming five years. China and India are the growth engines of the region. The market is sustained by the rising demand from end-use industries and growing safety standards. North America and Europe are also likely to offer sizeable growth opportunities in the coming five years.

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Research Methodology

This fire-resistant cable market report offers high-quality insights and results from a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This fire-resistant cable market report provides intelligence most comprehensively. The sports nutrition market report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players and those willing to enter the market.

What Deliverables will you get in this report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the end-use industry types by insulation material type. 

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.