Research Nester has released a report titled “Global & Europe Fire Performance Cables Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global & Europe fire performance cables market in terms of market segmentation by product type, insulation material, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global fire performance cables market is segmented by product type into fire rated or FR 30 minutes, FR 60 minutes and FR 120 minutes, out of which, the FR 30 minutes segment in Europe is anticipated to have the largest market share by the end of 2027 and further expand at a CAGR of around 2.8% over the forecast period, i.e. 2019-2027. The segment, which held a market share of around 40% in the year 2018, is anticipated to cross a value of around USD 260 million by the end of 2027 and grow by a growth rate of 1.2x over the forecast period. Moreover, the FR 30 minutes segment in Europe is also anticipated to attain an absolute $ opportunity of around USD 52 million during the forecast period.
The global fire performance cables market is also segmented by end user into public & commercial building, automotive & transportation, manufacturing, energy and others, out of which, the manufacturing segment in Europe is anticipated to grow with a CAGR of around 3% throughout the forecast period and gain an incremental $ opportunity of around USD 4.5 million in the year 2027 as compared to the previous year. Additionally, the segment held a value of around USD 120 million and a market share of around 23% in the year 2018.
The global fire performance cables market is anticipated to achieve a CAGR of around 3% throughout the forecast period. Increasing adoption of fire performance cables in the end user industries, followed by the rising awareness for good electrical wires that have the characteristics of fire resistance across end user industries, are some of the factors anticipated to promote the growth of the global fire performance cables market. The market is further anticipated to reach a value of around USD 2200 million by the end of 2027 from a value of around USD 1700 million in the year 2018 and further gain an absolute $ opportunity of around USD 440 million during the forecast period.
Based on region, the global fire performance cables market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa, out of which, the market in North America held the largest market share of around 31% in the year 2018. The market in the region is further anticipated to grow by a CAGR of around 2% during the forecast period and cross a value of around USD 630 million by the end of 2027. On the other hand, the market in the region is anticipated to gain an absolute $ opportunity of around USD 94 million during the forecast period.
Increasing Construction Activities and Stringent Safety Regulations in End-User Industries
The safety and regulation department of regions worldwide for different end user industries has set various stringent norms which helps to maintain safety at workplaces or at residential complexes. As such, there is a rising demand from the construction workers of buildings to deploy fire performance cables, which have the superior characteristics of keeping up circuit respectability for a predefined timeframe during a fire. Moreover, presence of several end user industries, such as manufacturing, automobile and others, and the demand for fire performance cables from such end user industries is also anticipated to drive the demand for fire performance cables globally over the forecast period. On the other hand, numerous construction activities lined up across nations globally as well as the characteristics of the fire performance cables, that help raise the adoption of such cables amongst various industry verticals are some of the factors anticipated to drive the growth of the global fire performance cables market.
However, concerns regarding the high-end product cost of fire performance cables is one of the major factors anticipated to limit the growth of the global fire performance cables market.
This report also provides the existing competitive scenario of some of the key players of the global fire performance cables market, which includes company profiling of several key players that are functioning both locally as well as globally. Moreover, several global players in the fire performance cables market are also providing their products and services in Europe to cater to the rising demand for fire performance cables in the region. Additionally, several small and mid-size players are also looking for options by expanding their existing product width and line to cater to the market.
On the other hand, several players in the global fire performance cables market are also investing heavily to develop advanced materials used for manufacturing fire performance cables.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fire performance cables market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.