A report from Markets and Markets projects that global fire-resistant cable market size is projected to grow from $1.8 billion in 2021 to $2.1 billion by 2026, at a relatively slow yet steady CAGR of 3.3% during the forecast year.
A press release said that the fire-resistant cable market has thousands of companies which thrive in their domestic market. A few of the major players are Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), LS Cable & System Limited (South Korea) and Elsewedy Electric Company (Egypt), among others. These players have adopted various growth strategies, such as acquisitions, investments, expansions, agreements, collaborations, and new product developments, to increase their market shares and enhance their product portfolios.
Acquisition accounted for the largest share of all the strategic developments that took place in the fire-resistant cable market between 2016 and 2021. Key players such as Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), and LS Cable & System Limited (South Korea), adopted these strategies to enhance their business, market presence, to develop new products and meet consumer demand. The report looks at market dynamics, volatility in raw material prices, demand for fire-resistant cables, challenges posed by cheap and inferior cables, which sectors are showing more demand, and more.
Building and construction is projected to be the fastest-growing segment in the fire-resistant cable market. In terms of value and volume, the APAC region is projected to grow at the highest CAGR from 2020 to 2025.
Emerging economies in APAC are expected to experience significant demand for fire-resistant cable as a result of the expansion of the end-use industries due to rapid economic development and urbanization.
A PDF brochure of Fire-Resistant Cable Market (Report Code CH 6374) is available from the company. For more details, in the U.S. contact Aashish Mehra, tel. 888-600-6441; This email address is being protected from spambots. You need JavaScript enabled to view it..
