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Sensor Cable Market Segmentation by Detection Mode [Liquid {Conduction and Hydrocarbon Liquids}, & Gas]; by Application (Strain Monitoring, Power Cable Monitoring, Heat & Temperature Sensing, Acoustic Sensing, Leak Detection, and Others); by Jacket Type (TPE, PUR, and PVC); by Connector Type (Flanges, Plugs, and Sockets); and by End-User Industry (Material Handling, Infrastructure, IT & Telecommunication, Oil & Gas, and Energy & Utility) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • March 24, 2022: Technology Solutions Architect and Technology and Application Manager of Belden Inc. receives Telecommunications Industry Association (TIA) Star Awards for government advocacy and standards development.

  • February 02, 2022: TE Connectivity Ltd. saves itself a significant place in the World’s Most Admired Companies segment of the FORTUNES magazines fifth time in a row.

Global Sensor Cable Market Highlights Over 2022 – 2031

The global sensor cable market is projected to acquire significant revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be accounted to the increasing utilization of pipelines, rising adoption of the hydraulic fracturing method for mining and oil extraction, growing awareness regarding product efficiency, and escalating concern for safety in various operations. For instance, the presence of about 650 operational oil pipelines was observed in 2020 meanwhile about 30 oil pipelines were under construction. The number of pipelines is further estimated to grow over the forecast period.  Furthermore, sensor cables are being utilized at a higher scale worldwide to provide precise measurements of flow, pressure, temperature, and liquid.

Sensor Cable Market

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The global sensor cable market is segmented by end-user industry into material handling, automotive, infrastructure, IT & telecommunication, oil & gas, energy & utility, out of which, the automotive segment is anticipated to hold the notable share in the market on account of several new innovations being performed to develop the automotive technology. For instance, automatic parking, lane keep assist, automatic emergency braking, and lift gates require the quick transmission of the data and it is only possible by sensor cables.

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure (% of GDP), 2015-2018

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in the ICT sector has significantly contributed to GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations around the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Sensor Cable Market Regional Synopsis

Regionally, the global sensor cable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness robust growth over the forecast period, on the back of increasing demand for electronics and power cable monitoring along with material handling. In 2020, the electronic industry in the Asia Pacific was evaluated at about USD 250 billion and is anticipated to reach approximately USD 380 billion by 2030.

Furthermore, the global sensor cable market is projected to grow in Europe region during the forecast period owing to the continuous increment in the utilization of automotive applications in aerospace, military, and commercial fields. It is observed that more than 12 million motor vehicles are developed and manufactured every year solely in Europe. Apart from it, the market in the North America region is also anticipated to have the potential to influence the global sensor cable market positively during the forecast period on the back of the growing automotive industry, and rising concerns amongst authorities, regarding increasing pipeline leakage incidents. For instance, in 2020, approximately 0.6 million pipe leakage incidents were registered in the USA. Such factors are estimated to boost the market growth.

Sensor Cable Market Share

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The global sensor cable market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global sensor cable market includes the following segments:

By Detection Mode

  • Liquid 
  • Conducting Liquids
  • Hydrocarbon Liquids 
  • Gas

By Application

  • Strain Monitoring
  • Power Cable Monitoring
  • Heat & Temperature Sensing
  • Acoustic Sensing
  • Leak Detection
  • Others

By Jacket Type

  • TPE
  • PUR
  • PVC

By Connector Type

  • Flanges
  • Plugs
  • Sockets

By End-User Industry

  • Material Handling
  • Automotive
  • Infrastructure
  • IT & Telecommunication
  • Oil & Gas
  • Energy & Utility

Growth Drivers

  • Increasing Adoption of Hydraulic Fracturing Method
  • Growth in the Utilization of Pipelines in Construction and Oil & Gas Industry
  • Occurrence of New Innovations in the Automotive Industry
  • Rising Concern Towards the Product Efficiency                        

Challenges

  • High Initial Investment Required
  • Presence of Significant Competitive Technologies

Top Featured Companies Dominating the Market

  • SAB BRÖCKSKES GmbH & Co. KG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Schneider Electric SE
  • TE Connectivity Ltd.
  • Belden Inc.
  • TTI, Inc.
  • Lapp Group
  • Hans Turck GmbH & Co. KG
  • Baumer Holding AG
  • Beckhoff Automation GmbH & Co. KG
  • TTK S.A.S.

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