Facts and Factors Market Research has published a new report titled “Armored Cable Market By Material Type (Aluminum and Stainless Steel), By Armored Type (Interlocked and Continuously Corrugated Welded (CCW)), By Core Type (Multicore and Singlecore), and By End-User (Construction Industry, Manufacturing Industry, Mining Industry, Communication Industry, and Oil & Gas Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global armored cable market was valued at approximately USD 29,806 million in 2018 and is expected to reach a value of around USD 45,736 million by 2027, at a CAGR of around 4.9 % between 2019 and 2027.
Armored cable is an optical cable covered with either rubber or plastic in order to offer protection to the cable from mechanical damage. Moreover, the cable is armored to provide it with an extra layer of protection so that it cannot be cut or scratched. Additionally, armored cable consists of an armor layer of coax cable ribbed like corrugated metal facilitating flexibility and preventing the moisture from entering the cable as well as causing damage to it.
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Upgradation & renewal of existing networks in developed countries to drive the market surge
The growth of the armored cable industry during the forecast timeline is attributed to aging electrical & communication networks witnessed in the developed regions across the globe. With the need for renovating the current networks in both the developed and developing regions, the market is likely to gain traction over the forecast period.
Moreover, large-scale up-gradation & construction of oil plants have led to escalating demand for cable management systems worldwide. Furthermore, the power & utility sector is the key end-user of cables along with construction & aerospace sectors. Nevertheless, the product recall due to low electrical & fire safety standards due to poor quality of plastic insulated coating will hinder the industry trends. However, the need for new networks in commercial as well as industrial vehicles will create lucrative avenues for the market over the forecast timeline. This will also help offset the negative impacts of the hindrances on the market.
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Stainless steel to dominate the material type segment over the forecast period
The massive need for the cables made from steel for underground cabling and cable trunks will steer the segmental growth during the forecast period. Apart from this, the melting point of the steel is nearly 15000 centigrade that is higher as compared to copper and aluminum and this helps in offering steel with the protection against high temperatures. Additionally, massive usage of stainless steel cables in power & manufacturing sectors will impel the growth of the segment over the forecast period.
Browse the full “Armored Cable Market By Material Type (Aluminum and Stainless Steel), By Armored Type (Interlocked and Continuously Corrugated Welded (CCW)), By Core Type (Multicore and Singlecore), and By End-User (Construction Industry, Manufacturing Industry, Mining Industry, Communication Industry, and Oil & Gas Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/armored-cable-market-by-material-type-aluminum-and-164
Oil & gas industry to contribute majorly towards the overall market revenue share by 2027
The growing usage of armored cables in the oil & gas sector is likely to boost the growth of the oil & gas industry over the forecast timeline.
Multicore to contribute a major chunk of the revenue share of the core type segment
The growth of the segment during the forecast timeline is due to the ability of the multicore armored cables to withstand scratch and graze along with an offering of flexibility. Apart from this, the multicore armored cables are cost-efficient and can have manifold applications.
North America to lead the overall regional market expansion in terms of earnings
The growth of the market in the region is credited to the humungous presence of key players in the region along with high funding in the production of armored cables in the region.
The key players included in this market are Atkore International Group Inc., Belden Inc., LS Cable & System Ltd. Nexans S.A., Prysmian S.p.A., Service Wire Company, Inc., Southwire Company, LLC, The Okonite Company, Inc., Omni Cable Corporation, and Anixter International Inc.
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This report segments the armored cable market as follows:
Global Armored Cable Market: By Material Type Segment Analysis
- Stainless Steel
Global Armored Cable Market: By Armored Type Segment Analysis
- Continuously Corrugated Welded (CCW)
Global Armored Cable Market: By Core Type Segment Analysis
Global Armored Cable Market: By End-User Segment Analysis
- Construction Industry
- Manufacturing Industry
- Mining Industry
- Communication Industry
- Oil & Gas Industry
Global Armored Cable Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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