NEW YORK , March 18, 2022 — The “High Temperature Cables Market by End-user (Energy, Transport, Industrial, and Others) and Geography (APAC, Europe, North America, Middle East and Africa, and South America) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the high temperature cables market between 2021 and 2026 is US 923.52 million, as per the latest market analysis report by Technavio. The report also identifies the market to witness a CAGR of 8.9% during the forecast period.
Key Market Dynamics:
Market Driver: The improvements in railway infrastructure is one of the key factors influencing the market growth positively during the forecast period. The cables used in railways should be halogen-free, self-extinguishing, and flame retardant. High-temperature cables have these characteristics, making them one of the critical components of the railway infrastructure. Several countries are investing heavily in the railroad industry, which will create demand for new trains. For instance, the Indian Railways has announced plans to electrify its entire network by 2023.
Market Challenge: One of the key factors limiting the market is the growing wind power generation capacity. Wind turbines are often subject to extreme temperatures, which often include very high and very low temperatures based on the climatic conditions of the turbine. High-temperature cables are required for several applications, such as wiring of motors, generators, and transformers. The decline in the prices of wind power installations will further accelerate the wind power installations.
Key Segment Analysis
The high temperature cables market report is segmented by End-user (Energy, Transport, Industrial, and Others) and Geography (APAC, Europe, North America, Middle East and Africa, and South America).
The energy segment held the largest high temperature cables market share in 2021. The segment will continue to account for the highest market share throughout the forecast period. The rise in global energy demand is expected to boost the power generation capacity and T&D networks globally, which subsequently will increase the demand for high-temperature cables. For instance, State Grid Corp. of China and China Southern Power Grid identified 14 projects for development in 2020, which employed high-voltage alternating current (HVAC) and high-voltage direct current (HVDC) technologies.
APAC emerged as the largest revenue-generating segment of the market. 48% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for high temperature cables in APAC. The significant increase in the demand for energy and high growth in the high-temperature cable end-user sectors such as transport, oil and gas, wind power plant, steel mills, and heavy industries will be influential in driving the market in the upcoming years.
Allied Wire and Cable Inc.Anixter International Inc.Axon CableBambach Wires & CablesBelden Inc.Bhuwal Insulation Cable Pvt. Ltd.Coroplast Fritz Muller GmbH and Co. KGDacon Systems Inc.Eland Cables Ltd.HELUKABEL Romania SrlJIANGSU XINGYUAN HIGH TEMPERATURE WIRE AND CABLE CO.LTD.Lapp Holding AGLeoni AGNexans SAPrysmian SpaSAB BROCKSKES GmbH & Co. KGShoal Group Ltd.Sumitomo Electric Industries Ltd.TONGGUANG GROUP CO. LTDZhuhai Hansen Technology Co. Ltd.To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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