Insulated Cables Global Market Report 2022
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.
New York, March 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Insulated Cables Global Market Report 2022" - https://www.reportlinker.com/p06247514/?utm_source=GNWThe global insulated cables market is expected to decline from $94.96 billion in 2021 to $89.40 billion in 2022 at a compound annual growth rate (CAGR) of -5.9%. The decline is is mainly due to the companies facing production and supply chain issues during the COVID-19 pandemic in 2021. The market is expected to decline to $50.25 billion in 2026 at a CAGR of -13.4%.
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 motor vehicles.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.
The main types in the insulated cables market are copper, aluminum, fiber optic, others.The copper in the insulated cables market refers to the wires that are insulated with copper.
The various voltages are low voltage, medium voltage, high voltage. These are used in electrical equipment, construction, telecommunications, motor vehicles, and industrial machinery.
The Asia Pacific is the largest region in the insulated cables market in 2021.North America is the second-largest region in the insulated cables market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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 insulated 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 motor vehicles 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.
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 some time increasing 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 a 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.
The countries covered in the insulated cables market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.Read the full report: https://www.reportlinker.com/p06247514/?utm_source=GNW
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