Ceramified Cable Market – Snapshot
The cable industry is continuously witnessing significant technological advancements. Development of cables focused on reducing current drop through the length of cable is one of the major milestones in energy conservation and safety enhancement in residential as well as commercial applications.With focus on enhancing fire resistivity, cable manufacturers have introduced ceramified cables for applications requiring longer evacuation time.The market for ceramified cable is forecast to grow steadily to become US$ 277.0 Mn by 2026 from US$ 175.8 Mn in 2017, at a CAGR of 5.2%.
The global ceramified cable market is broadly segmented by voltage level, application, and end- use industry. Based on voltage level, the market has been segmented into low voltage (less than 600v), medium voltage (600v to 69kv), and high voltage (greater than 69kv). Based on application, the market has been segmented into fire and smoke detection systems, emergency lighting and signage, emergency communication, rescue elevators, emergency generators, and others. The market is further segmented on the basis of end-use industry into building, industrial, transit, and defense.
Ceramified cable has been gaining traction over the last couple of years in developed countries due to incorporation of these products as a part of safety systems to improve fire safety. As a result, ceramified cables are undergoing further technological advancement in these countries, particularly in Western European countries, which has resulted in reduced price of these cables as compared to other fire retardant cables. This is considered to be a prominent factor fueling the growth of the ceramified cable market in Europe, as well as in North America. Moreover, ceramified cables in developing economies across the globe such as China, India, and Brazil, is witnessing increasing adoption due to increasing number of high rise buildings in these economies. The ceramified cable market in Asia Pacific is expected to be fueled by the increasing adoption in China, which is analyzed to grow at a compound annual growth rate of over 5.4% during the forecast period. Furthermore, other Asian countries, for instance India and Australia are projected to fuel the growth of the ceramified cable market during the forecast period.
Based on voltage level, the market is anticipated to be dominated by low voltage ceramified cables because of deployment in a wide range of applications. In terms of applications, the market is anticipated to be dominated by fire and smoke detection systems throughout the forecast period. Emergency lighting and signage applications are expected to grow rapidly during the forecast period. Additionally, among end-use industries, the building end-use is anticipated to be the dominating segment followed by industrial use of ceramified cables.
Some of the key players identified to govern the ceramified cable market are Wacker Chemie AG, Siccet SRL, Cavicel S.p.a., Prysmian Group, Nexans S.A., Marmon Engineered Wire & Cable (VITALink), Tekab Co. Ltd., Birtas Instrumentation Cables, Bhuwal Cables Ltd., and KEI Industries Limited.Some of the important strategies adopted by leading players in the global ceramified cable market are collaborations, acquisitions, partnerships, agreements, and new product launches. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global ceramified cable market through the period of study.