Fire Resistance Cable Market

Fire Resistance Cable Market Analysis-2030

The fire resistance cable market size was valued at $1.8 billion in 2020, and is projected to reach $2.5 billion by 2030, at a CAGR of 3.5% from 2021 to 2030. Fire-resistance cables, also known as circuit integrity (CI) cables, are defined as cable that is capable of maintaining circuit integrity for a specified period during a fire. These cables normally have a solid conductor and a soft jacket. When these cables are exposed to high temperatures, the soft and flexible insulating material alters and transforms into a fire-resistance insulator, protecting the conductors. These cables are meant to give power and auxiliary control to fire alarm, voice alarm, and emergency lighting systems.

The temporary halt in industrial operations has lowered the demand for fire resistance cable significantly, impeding the global market growth to a certain extent.

The global fire resistance cable market has been driven by rise in demand for fire-resistance cables from the building and construction sector, increased safety and security laws across regions, and increased electricity generation. Grid maintenance, infrastructure replacement, overhead line conversion to underground lines, and the expansion of rail networks around the world are expected to fuel the demand for fire- resistance cables in the coming years. Raw material price volatility, on the other hand, acts as a restraint on the worldwide market.

The global fire resistance cable market is segmented on the basis of insulation material, end-use industry, and region. On the basis of insulation material, the fire resistance cable market is divided into ethylene propylene rubber-insulated (EPR), low smoke zero halogen (LSZH), polyvinyl chloride (PVC), cross linked poly ethylene (XLPE) and others. On the basis of end-use industry, the market is classified into automotive & transportation, building & construction, energy, manufacturing, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. 

Fire resistance cable market, by insulation material

By insulation material, the XLPE segment is projected to witness growth at the highest CAGR from 2021 to 2030. High thermal short circuit rating, excellent electrical property maintained under the complete temperature range, resistance to thermal deformation at high temperatures, excellent water resistance and low permeability to water, excellent chemical resistance, high durability, and long operational life are some of the properties fueling the growth of the XLPE insulation material segment. 

Fire resistance cable market, by end-use industry

By end-use industry, the building & construction segment is projected to be the fastest-growing segment in the fire- resistance cable market. Fire- resistance cables can be used for wiring and interconnection purposes in residential and non-residential areas. These cables are easy-to-install, maintain the reliability of electrical circuits, and can withstand high temperatures during fires, thus, ensuring human safety.

Fire resistance cable market, by region 

By region, the Asia-Pacific region is projected to grow at the highest CAGR from 2020 to 2030. Emerging economies in APAC are expected to experience significant demand for fire- resistance cable as a result of the expansion of the end-use industries, due to rapid economic development and urbanization.

Key benefits for stakeholders

• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the fire resistance cable market for strategy building.
• It outlines the current fire resistance cable market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, & fire resistance cable market opportunities and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report.

Impact of COVID-19 on the global fire resistance cable market

Some of the major economies suffering from the COVID-19 crisis include Germany, France, Italy, Spain, the UK, Norway, and others. With the increase in COVID-19 cases, the market is negatively impacting the demand for fire- resistance cables. The fire- resistance cable market observe a significant decline in demand in the first quarter of 2020 and 2021 due to the impact of COVID19 in various end-user industries (mainly construction, manufacturing and energy industries). Fire- resistance cable manufacturers were hit in 2020 by plant closure obligations, social distance standards, and limited activity by local and state authorities. However, the demand for fire-resistance cables has been hampered by pandemics, primarily due to the declining demand for these cables from the construction industry.

 Fire Resistance Cable Market Report Highlights