The Global Solid Cable Market is segmented based on its application scope, ranging from Home Electrical Wiring to Wiring for Breadboards, Building Infrastructures, Vehicle Controls, and Outdoor Applications to Other Applications. The market is anticipated to grow at a CAGR of over 5.2% during the forecast period (2018-2021).
The global medium voltage cable market is segmented by voltage, installation, end user, and geography. The Asia Pacific region is projected to be the largest contributor to the market during the forecast period. New oil and gas deposits are growing exponentially in the region. For example, offshore nations like Canada, the United States, and Brazil are leading the growth in new oil and gas deposits. One of the leading oil discovery companies in North America is Equinor.
The market for medium voltage cables is highly segmented by installation, end-use, geography, and application. The end-user segment is further sub-divided into oil & gas, mining & metals, and renewable energy. Infrastructure sector is further subdivided into commercial and transportation. Geographical segmentation includes North America, Europe, China, and the rest of Asia-Pacific. Middle-Eastern countries and emerging regions such as India are also part of the global market.
The global market for medium voltage cables is expected to grow at a CAGR of nearly 4.8% during the forecast period. This growth is anticipated to be slowed down by the recent COVID-19 outbreak, which impacted the development of many energy projects and investments around the world. However, factors such as rising electricity demand and increasing penetration of renewable energy sources are expected to drive growth over the forecast period. But factors such as complex project planning and lengthy approval processes will hinder growth.
The Global Medium Voltage Cable Market report provides in-depth information on the industry, key vendors, regional analysis, and other factors affecting the market. The study also includes a Porter’s five-forces analysis and an analysis of the medium voltage cable market. The report also identifies key market trends and discusses the challenges and opportunities for growth in each region. Once you have a firm grasp of the market, you will be well-positioned to compete in the industry.
Automotive manufacturing is the leading end user of medium voltage cables, garnering a large share of the global market. COVID-19, which hampered the supply chain, had a negative impact on the automotive industry. People also avoided public transportation and purchased their own cars for travel. The automotive industry is growing in North America, and this sector is one of the fastest-growing segments of the market. According to the US Energy Information Administration, crude oil and dry natural gas production grew by 17% in 2018, which is a huge growth in the global market.
The price of raw materials and energy is a major limiting factor for the global solid cable market. Raw material prices are volatile and directly affect the cost of manufacturing and operation. Consequently, sudden price increases may limit market growth. For instance, raw materials used for the manufacture of fire-resistant cables include aluminum, copper, plastic, and rubber. These raw materials are highly expensive, which can affect the cost of cables.
The global infrastructural investment was worth USD 1.5 trillion in 2007 and is estimated to reach USD 4 trillion by 2040. As a result, the demand for fire-resistant cables is expected to increase due to the increasing construction activities. In fact, fire-resistant cables are widely used in commercial and residential projects. By 2030, the global construction market is expected to reach USD 15 trillion, with more than half of the value coming from China and India.
Major economies in the region are facing COVID-19 crisis, which has negatively affected the demand for fire-resistant cables. In addition, social distance standards and limited local government activity are negatively affecting the fire-resistant cable market. Additionally, pandemics and the declining construction industry have also hampered the demand for fire-resistant cables. This situation may be temporary, but it is unlikely to last for long.
The Global Fire Resistant Cable Market report aims to provide complete information on the market. It also examines current trends and future opportunities, as well as the competitive landscape. The report also highlights recent developments and discusses the impact of the leading companies on the market. It includes detailed information on sales, price, and demand, as well as regional and global forecasts. The Final Report also offers analysis of the COVID-19 standard.
The fire-resistance cable market is driven by increasing demand for electrical cables and power supply protection. High-quality cables are necessary in many types of applications, including buildings. The market for fire-resistance cables is dominated by the building and construction industry. Fire-Retardant cables are preferred by consumers due to their superior mechanical and electrical properties. Further, they can be used as circuit integrity cables in the building and construction industry, preserving the integrity of a circuit.
According to a report by Transparency Market Research, the demand for coaxial cables is expected to grow more than five percent per year until 2021. This market shares many factors, such as the growing need for high-speed internet and increasing investments in infrastructure development in Asia-Pacific. Many companies are expanding their presence in the region, and several of them have committed to invest $2.8 billion in developing their second data centre in India by 2022.
The emerging economies of China, India, and Brazil are expected to experience the fastest growth in this sector over the next decade. These countries are among the largest buyers of wire and cable worldwide. But despite these growth opportunities, the global wire and cable market remains fragmented, with many smaller and midsize companies competing for market share. In addition, the global economy will experience continued pressure to reduce energy costs, as more countries invest in renewable energy and communication facilities.
However, the market will still remain highly competitive, especially in terms of technology. The high-tech cable industry will remain a strong force in the market, while the cable industry will continue to benefit from a slew of technological advancements. Copper-based cables are the most popular, due to their low resistivity, superior stability, and corrosion resistance. Meanwhile, copper-based cables will continue to dominate the market, while the high-tech cable segment will also see a steady increase in spending.
However, there are many factors that could hamper the market for standard cables. For example, the COVID-19 pandemic has affected the semiconductor industry, which is expected to boost demand for new and innovative products. Consequently, the demand for high-speed internet facilities and a rise in industrial automation will drive the growth of this market. However, the cost of initial investment remains a major restraint in the global ethernet cable market.
In addition to the growing demand for coaxial cables, the automotive industry is also poised to grow at a healthy CAGR. In the U.S., automotive connectors and cables will be used in various industries, including communications, power, and data transfer. Many leading automotive manufacturers have made huge investments in developing their vehicles and their infrastructure. In February 2018, for example, Ford invested $1.45 billion in its Detroit plants. With this, the company hopes to increase production and procurement of circular connectors. Meanwhile, Toyota recently announced plans to invest $749M in manufacturing facilities.
Impact of COVID-19 on the market
This report provides a comprehensive overview of the market for Solid Cable Professional. It also identifies key trends in the industry and analyzes how COVID-19 will affect the global solid cable market. It also discusses the challenges faced by the industry and the strategies adopted to overcome these challenges. The report includes an analysis of the impact of COVID-19 on the global solid cable market 2021.
The greatest risk to Chinese growth is the impact of COVID-19 lockdowns, which could result in slower-than-expected consumption and supply-chain disruptions. While China is the largest market affected by the conflict, supply chains are still constrained. The weakening of consumption is most likely to hit emerging markets in Asia. Three countries in the region are most exposed to supply-chain disruptions from COVID-19, including the Philippines, Malaysia, and Thailand. Even though manufacturing continues with limited disruptions, the impact on demand is still expected to be significant, according to S&P Global Ratings.
According to IBISWorld, the structured cabling market will be dominated by North America, with over 80% of the market share in 2027. The region is characterized by many large players with a diverse product portfolio. Additionally, the demand for mobile data has increased the investment in wireless telecommunications and data communication equipment. Specifically, CloudScene anticipates that there will be 8,347 data centers globally in February 2022. The U.S. alone will account for over a third of these data centers.
Amidst the uncertainties surrounding COVID-19, the impact of this conflict has been felt more than in the past. Inflation is no longer the leading concern amongst executives, but COVID-19 is widely perceived as endemic. Instead of focusing on COVID-19 and limiting its impact on the global solid cable market, central banks are focusing on other issues such as monetary policy and energy security.
However, COVID-19 is a global pandemic and will affect every aspect of life. While the impact of the virus on the global solid cable market 2021 is largely anticipated, the company should focus its efforts on gaining leadership in profitable segments, building agility, and pursuing new innovations and technologies. The company must also ensure that it can adequately provide the global vaccines that are required.