In 2022-26, the compound annual growth rate of the global high-temperature cable market will reach 8.9%

As the railway infrastructure continues to improve, the global demand for high-temperature cables will also grow
.
According to a report released by Technavio, an international market research institution, by 2026, the global high-temperature cable market demand will increase by $923.
52 million, and the market growth momentum will accelerate
at a compound annual growth rate of 8.
9%.

High-temperature cables are cables
with multiple strands of soft copper conductors.
Heat-resistant and high-temperature wire and cable are generally determined by two needs
.
The first is that the ambient temperature of wires and cables is high, and the cable can transmit signals or electrical energy normally at high temperatures for a long time; The other is power transmission cable, which is mainly aimed at
increasing the interception capacity.

One of the key factors driving the growth of the global high temperature cable market is the improvement
of railway infrastructure.
Railway cables should be halogen-free, self-extinguishing and flame retardant
.
High-temperature cables have these characteristics, making them one of the key components of
railway infrastructure.

Some countries are investing heavily in the rail industry, which will create demand
for new trains.
For example, the Italian National Railways Industrial Business Plan for 2019-2023 has an investment of $66.
41 billion to develop rail transport
in the country.
In February 2021, the Indian government launched 88 new railway projects
.
In addition, Indian Railways has announced plans to electrify
its entire network by 2023.
All these factors are expected to drive the growth of
the global high temperature cable market during the forecast period.

Another key factor driving the growth of the global high-temperature cable market is the growing wind power generation capacity
.
Wind turbines are often subject to extreme temperatures, which typically include very high and very low temperatures
depending on the turbine's climatic conditions.
Many applications require high-temperature cables, such as wiring
for motors, generators and transformers.

The decline in the average cost of wind power will further accelerate wind power
installations.
Continued investment in wind power is increasing annual capacity and encouraging technological innovation
in wind power systems.
Therefore, due to the importance of high-temperature cables in wind turbine operation, their demand will increase proportionally with the installation of wind turbines, which will drive the growth of the market in the coming years
.

48% of the market growth will come from Asia Pacific
during the forecast period.
China, India and Japan are the major markets
for high-temperature cables in the Asia-Pacific region.
The market growth in this region will be faster than the growth of the regional market
.

Significant growth in energy demand and high growth in high-temperature cable end-user industries such as transportation, oil and gas, wind farms, steel mills, and heavy industry will boost the growth forecast period for the high-temperature cable market in Asia Pacific
.
The market share of high-temperature cables in the energy segment will grow
significantly during the forecast period.
The growth in global energy demand is expected to increase global power generation capacity and transmission and distribution networks, thereby increasing the demand
for high-temperature cables.

On the other hand, the growth of the global high-temperature cable market is also facing major challenges, the first of which is the fluctuation
of the price of raw materials such as copper, aluminum, silicone rubber, etc.
In the past 2 years, the prices of several raw materials used to manufacture high-temperature cables have risen sharply, which has increased the overall cost of
high-temperature cables.
For example, the cost of PTFE materials in the United States increased during 2020-2021 and is expected to rise
further during the forecast period.
Due to the shortage of PTFE resin supply in the country, the price increase has led to a delivery time of 4-6 months
for PTFE-related cables.
Rising raw material prices, which subsequently lead to higher prices for final products, including high-temperature cables, resulting in reduced demand for final products, will negatively
impact the market growth in the forecast year.