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Research And Markets, an international market research institution, recently released a global market outlook report on fireproof cables, which is expected to reach $2.
41 billion
by 2026.
According to the report, the global fireproof cable market reached $1.
62 billion in 2017 and is expected to increase to $2.
41 billion by 2026, with a compound annual growth rate of about 4.
5%.
Increasing demand for fireproof cables in various industries, increasing global power generation, and increasingly stringent fire safety regulations in various regions are some of the factors
driving the growth of the market.
However, fluctuating raw material prices are one of the major factors restraining the growth of the
market.
Based on insulating materials, cross-linked polyethylene (XLPE) holds a considerable market share during the forecast period, with average cost advantage and excellent insulation properties being the reasons for
its domination of the market.
Geographically, Asia Pacific holds the largest market share
due to the growth of the construction, automotive, and transportation industries.
China is the largest consumer of fire prevention in the Asia-Pacific region
.
China's growing manufacturing industry has also led to the growth
of the defense fire cable market.
The increasing demand for fire safety and government regulations is another factor
driving the consumption of fire cables in China.
From the perspective of enterprises, Prysmian (including general cable), Nexans, Acte, LS cable, LEONI cable, etc.
will become the world's leading fireproof cable manufacturers
.
Research And Markets, an international market research institution, recently released a global market outlook report on fireproof cables, which is expected to reach $2.
41 billion
by 2026.
According to the report, the global fireproof cable market reached $1.
62 billion in 2017 and is expected to increase to $2.
41 billion by 2026, with a compound annual growth rate of about 4.
5%.
Increasing demand for fireproof cables in various industries, increasing global power generation, and increasingly stringent fire safety regulations in various regions are some of the factors
driving the growth of the market.
However, fluctuating raw material prices are one of the major factors restraining the growth of the
market.
Based on insulating materials, cross-linked polyethylene (XLPE) holds a considerable market share during the forecast period, with average cost advantage and excellent insulation properties being the reasons for
its domination of the market.
Geographically, Asia Pacific holds the largest market share
due to the growth of the construction, automotive, and transportation industries.
China is the largest consumer of fire prevention in the Asia-Pacific region
.
China's growing manufacturing industry has also led to the growth
of the defense fire cable market.
The increasing demand for fire safety and government regulations is another factor
driving the consumption of fire cables in China.
From the perspective of enterprises, Prysmian (including general cable), Nexans, Acte, LS cable, LEONI cable, etc.
will become the world's leading fireproof cable manufacturers
.
