Plenum Cable Market Outlook – 2027
The global plenum cable market is experiencing significant growth and is expected to grow considerably in the next few years. The plenum cable is an electrical cable, which is fitted in the plenum spaces of buildings. Plastics used in the construction of plenum cable are regulated under the National Fire Protection Association standard NFPA 90A Standard for the Installation of Air Conditioning and Ventilating Systems.
This cable is jacketed with a fire-retardant plastic jacket of either a fluorinated ethylene polymer (FEP) or a low-smoke polyvinyl chloride (PVC). All materials intended for use on cables and wire to be placed in plenum spaces are designed to meet rigorous fire safety test standards in accordance with NFPA 262 and outlined in NFPA 90A.
The global plenum cable market is segmented on the basis of type, application, and region. Based on type, the plenum cable market is bifurcated into AC power cable, and DC power cable. In terms of application, the market is categorized into building, mechanical, electricity, and other. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global plenum cable industry include Electric Industries Ltd., Sumitomo Electric Industries Ltd., General Cable Corporation, Finolex Cables, Havells India, KEI Industries, and Polycab Wires. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.
Top Impacting Factors
Growing urbanization and increasing government investments into the expansion of power transmission & distribution networks across developed and developing economies are the major factors driving the global plenum cable market growth. Increasing construction of residential and commercial buildings and rising demand for uninterrupted electricity are other major factors expected to boost the growth of the global market over the forecast period.
However, growing procurement and operation costs of specialty cables & wires is a key factor restraining the growth of the global plenum cable market. Moreover, growing adoption and use of wireless devices is another major factor expected to hinder the growth of the market during the forecast period.
Growing Urbanization and Significant Investment in Infrastructure Drives the Market Growth
Even though the cable and wire industry is largely volume-driven, technical parameters and quality with reputed brands play a dynamic role in determining the demand for various products. In the power cables arena, the extra-high voltage (EHV) and high voltage (HV) cable industry witnessed significant growth mainly due to acceleration in the implementation of ongoing projects.
The demand for cable is expected to be propelled by improvements in the telecommunications market as well as by the turnaround in electronic equipment shipments. The global plenum cable market is growing steadily and maturing, with increasing urbanization and rapidly growing building infrastructure across the world.
Multiple Industry Growth Drivers to Boosts the Market Growth
Plenum cable is commonly used in the communication and electrical field. A wire is a single conductor that is used to carry electricity, to transmit telecommunication signals, to bear the mechanical loads, for heating jewelry, automotive, clothing, or any industrially manufactured parts such as bulbs, pins, and needles. A plenum cable comprises a neutral wire to complete the loop, a hot wire carrying the current, and a grounding wire as well.
In addition, due to the surge in the power distribution sector, power generation from renewable energy sources and demand from non-automotive & automotive industries are the key factors anticipated to positively impact the demand for plenum cables. Moreover, owing to rapid urbanization, growing demand from retail consumers, and development of rural markets, the industry is increasing very rapidly.
Furthermore, to cater to the demand from the automobile industry, vendors are further developing fail-safe wiring & cabling system architectures, thereby aiding the expansion of the market. The market has been rising progressively due to the high growth in the power and infrastructure segments.
Key Benefits of the Report
- This study presents the analytical depiction of the global plenum cable market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global plenum cable market share.
- The current market is quantitatively analyzed to highlight the global plenum cable market trends and growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed plenum cable market analysis based on competitive intensity and how the competition will take shape in the coming years.
COVID-19 Scenario Analysis
- To subdue the spread of COVID–19, respective governments have shutdown day-to-day business operations by implementing a full-scale lockdown. Labor shortages and delays in project completion are a few factors plaguing the global market resulting in a decline in production.
- The global market has been significantly impacted by the outbreak. New projects throughout the world have stalled, which have significant demand for the product.
- The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations, which disrupted the global supply chains.
- The impact of COVID-19 on plenum cable market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
- This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.
- Companies take the initiative to introduce a new type of production line where they follow social distancing.
Questions Answered in the Plenum Cable Market Research Report
- Which are the leading market players active in the plenum cable market?
- What would be the detailed impact of COVID-19 on the plenum cable market size?
- How the current plenum cable market trends that will influence the industry in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Plenum Cable Market Report Highlights
Key Market Players
Berkley Capital, Molex, Mohawk, Anixter, Corning, General Cable, Belden, OCF Resources, Berk-Tek, Nexans