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Insulated Cables Market 2020 Global Industry Analysis, Opportunities, Size, Trends, Growth and Forecast 2025

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Mayur Kasrung
Insulated Cables Market 2020 Global Industry Analysis, Opportunities, Size, Trends, Growth and Forecast 2025

Insulated Cables Market:

WiseGuyReports.com adds “Insulated Cables Global Market Report 2020-30” reports to its database.

Executive Summary

The global insulated cables market was worth $158.45 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.88% and reach $199.16 billion by 2023.

The insulated cables market covered in this report is segmented by type into copper, aluminum, fiber optic, others. It is also segmented by application into electrical equipment, construction, telecommunications, Insulated Cabless, industrial machinery.

The insulated cables market consists of sales of insulated cables and related services that are used in various applications such as electrical equipment, construction, telecommunications, and Insulated Cabless. The insulated cable is a cable that is resistant to electric current as it consists of non-conductive material. Insulated cables are used in lights, fans, computers, television, and telephone.

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Poor heat resistance is expected to limit the growth of the insulated cables market. The insulated cables are less resistant to high temperatures causing the wear and tear of the coated material outside the wire. The insulation material declines over a period time increases the risk of short circuits. For instance, the cross-linked polyethylene (XLPE) wires can operate at a temperature of 105 degrees for a limited time without reducing the service life of the cable however the wire when exposed to a temperature exceeding 200 degrees Celsius, will result in short circuit. XLPE wires are made up of cross-linked polyethylene and insulated with an aluminum conductor. Therefore, the poor heat resistance in insulated cables limits the growth of the insulated cables market.

The latest trend in the insulated cables market is the development of efficient, reliable and eco-friendly cables used for power transmission. The new cables are produced to provide power transmission across long distances coupled with high thermal performance and high reliability. The new eco-friendly cables that reduce carbon emission, represent the next generation solutions for land cable systems. Following the trend, in 2019, Prysmian Group, an Italy based manufacturer of electric power transmission and telecommunications cables, completed its testing for two new 525 kV land cable systems that use a zero-gas process that reduces carbon emission by around 30%. The two cable systems use P-Laser and XLPE insulations. P-Laser is an eco-friendly insulated Extra High-Voltage (EHV) cable that can operate in harsh environments with increased operating temperatures of 20% whereas the XLPE insulated cable system uses a new insulation compound specific for high voltage power transmission.

Increased use of insulated cables and wires in the automotive sector will enhance the growth of the insulated cables market. Insulated wires are used to handle unique stress during the manufacturing process in the automotive industry and are also used to connect car batteries with other components. The heavy demand for insulted wires in the automotive industry is supported by the wide range of insulting wires offered by the manufacturers in the insulated cables market. According to the European Automobile Manufacturers Association (ACEA), as of 2019, there were a total of 98.1 million units of Insulated Cabless along with 79.3 million units of passenger cars produced in the world. Therefore, the increasing use of insulated cables and wires in the automotive sector is driving the market.

In June 2018, Prysmian Group, an Italian based electric power transmission, and telecom cables and systems manufacturer, acquired General Cable Corporation for $30 per share in cash. The acquisition of General Cable Corporation was aimed to strengthen the Prysmian Group in the business of cables and wires. General Cable Corporation, is a USA-based company manufacturer of cables and wires with manufacturing facilities in core geographical markets and sales distribution worldwide.

Major players in the insulated cables market are Southwire, General Cable, 3M, ABL Electronic Supplies, Inc., AFC Cable Systems, Amphenol Corp, Asia Pacific Wire, and Cable Corporation Limited, Belden, Inc., Cable USA and LS Corporation.

Continuous…

For further information on this report, visit – https://www.wiseguyreports.com/reports/5247104-insulated-cables-global-market-report-2020-30-covid

NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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