The market of fire-resistant cables is expected to grow at a CAGR of 3.42% and by 2028, the market size is estimated to reach USD 2,111 million.
LOS ANGELES, CALIFORNIA, UNITED STATES, June 27, 2023/EINPresswire.com/ — According to the research conducted by Betzels Consulting, the global fire-resistant cable market recorded an estimated worth of USD 1,719 million in 2022. This figure is a testament to the increasing demand for fire-resistant cables across various industries worldwide. These cables, designed to withstand extreme temperatures and maintain circuit integrity during fire incidents, have become a critical component in ensuring safety and protecting human lives.
Looking ahead, the forecast for the fire-resistant cable market is promising. The market is expected to grow at a CAGR of 3.42% during the forecast period, showcasing its resilience and potential for sustained expansion. By 2028, the market size is estimated to reach USD 2,111 million, reflecting a significant growth trajectory over the coming years.
Fire-Resistant Cable Market Drivers
High Demand for Safety
Fire-resistant cables offer exceptional resistance to combustion, high temperatures, flexibility, low smoke emissions, low toxicity, and low acidic gases. These cables are designed to preserve circuit integrity during fire incidents, effectively safeguarding human lives. The urgent need for safety across industries has fueled the demand for fire-resistant cables.
Increasing Fire Safety Regulations
Governments and regulatory bodies around the world have been implementing stringent fire safety regulations to enhance building safety standards. Compliance with these regulations has become imperative, leading to a surge in the adoption of fire-resistant cables. Industries such as automotive, building and construction, power, and manufacturing are increasingly incorporating fire-resistant cables to meet these regulations.
Growing Power Generation Sector
With the rising demand for electricity and the rapid expansion of the power generation sector, the need for fire-resistant cables has amplified. These cables play a crucial role in ensuring reliable and safe power distribution, protecting critical infrastructure from fire hazards.
Recent advancements in manufacturing techniques have led to the emergence of fire-resistant cables made from silicon-free and inorganic minerals. These cables exhibit high performance and find extensive use in heavy manufacturing industries. Construction applications remain dominant in the fire-resistant cable market due to rapid industrialization and urbanization worldwide.
Fire-Resistant Cable Market Segmentation
The fire-resistant cable market can be segmented based on material and application.
On the basis of material, the fire resistant cable market is segmented into ethylene propylene rubber insulation (EPR), cross-linked polyethylene (XLPE), low smoke zero halogen (LSZH), etc. El XLPE fire-resistant cable is expected to be the largest segment in the fire resistant cable market. Its properties, including high thermal short circuit rating, excellent electrical properties, resistance to thermal deformation, water resistance, and chemical resistance, contribute to its robust growth.
Based on application, the fire resistant cable market is segmented into automotive, building & construction, power industry, manufacturing, and others. The building and construction segment is expected to be the largest segment of the fire resistant cable market. Fire-resistant cables are used for wiring and interconnection purposes in residential and non-residential areas.
These cables are easy to install, maintain the reliability of circuits, and withstand high temperatures in case of fire to ensure personal safety. Increased awareness of building safety among the masses has led to an increase in demand for fire-resistant cables. These cables are used in the distribution of electricity in almost all commercial and residential buildings. Increasing construction activities are driving the fire resistant cables market in the construction industry.
Regional Analysis of the Fire-Resistant Cable Market
Geographically, the fire-resistant cable market is divided into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific stands out as the fastest-growing region, driven by countries such as China, India, and ASEAN nations experiencing significant growth in the end-use industry. The region’s population growth, rapid urbanization, and increasing industrialization in manufacturing, construction, and automotive sectors contribute to the rising demand for fire-resistant cables. Moreover, the implementation of government regulations and the rising number of fire incidents further propel market growth.
Key Players in the Fire-Resistant Cable Market
Prominent players in the fire-resistant cable market include Prysmian Group
Nexans, General Cable, NKT, Leoni, LS Cable & System, ZMS Cable, EL Sewedy Electric, Tratos Limited, etc. These companies play a vital role in meeting the escalating demand for fire-resistant cables by leveraging their expertise in manufacturing, research and development, and maintaining high-quality standards.
Fire Resistant Cable Market Restraints
One of the primary challenges faced by the fire-resistant cable market is the fluctuation in raw material prices. Raw materials such as rubber, copper, plastic, and aluminum are susceptible to significant price fluctuations. Variations in the cost of energy and crude oil, required for manufacturing and transportation, directly impact the prices of these raw materials. Such instability leads to increased raw material costs, subsequently affecting the overall cost of fire-resistant cables and potentially impacting manufacturers’ profit margins.
Fire-Resistant Cables, Flame-Retardant Cables, and Halogen-Free Low Smoke Cables
Fire-resistant cables are designed to maintain normal operation for a certain period of time under flame conditions and preserve the integrity of the circuit. A representative type of fire-resistant cable is the mineral-insulated fire-resistant cable, which utilizes self-supporting ceramic materials when exposed to flames. It possesses strength, good resistance to thermal shock, and excellent electrical performance. It can maintain structural integrity in high-temperature flames ranging from 650 to 1000°C for a specific duration of time (0.5 to 2 hours). These cables are primarily used for power supply circuits connecting emergency power sources to firefighting equipment, fire alarm systems, ventilation and smoke extraction systems, guide lights, emergency power outlets, emergency elevators, and other applications.
Flame-retardant cables are characterized by their ability to slow down the spread of flames along the cable, preventing the escalation of fires. Due to their lower cost, they are widely used in building constructions. Whether installed as single cables or in bundled arrangements, flame-retardant cables can control the spread of fire within a certain range. This property helps to avoid significant disasters caused by cable ignition and subsequent fire propagation, thereby enhancing the safety level of cable installations.
Halogen-Free Low Smoke Flame-Retardant Cables
Halogen-free low smoke cable not only possesses excellent flame-retardant properties but also consist of materials that are free from halogens. When these cables burn, they produce minimal corrosive and toxic gases, emit low levels of smoke, and reduce harm to humans, instruments, and equipment. This contributes to timely rescue efforts in the event of a fire. Although halogen-free low smoke flame-retardant cables exhibit superior flame-retardant properties, corrosion resistance, and low smoke density, their mechanical and electrical performance is slightly weaker compared to regular cables.
Economic Benefits of Fire-resistant Cables
In addition to the significant safety advantages, the use of fire-resistant cables also brings economic benefits to various industries and sectors.
Property protection and reduced losses: Fire incidents can result in substantial property damage, leading to expensive repairs or even complete reconstruction. By using fire-resistant cables, the spread of fire can be limited, reducing the extent of damage and minimizing losses. This can potentially save businesses, homeowners, and insurance companies significant costs associated with rebuilding, replacing assets, and settling insurance claims.
Business continuity: Fire incidents often lead to disruption in operations, resulting in downtime and financial losses for businesses. By employing fire-resistant cables, the risk of fire-related electrical failures and subsequent interruptions can be mitigated. These cables ensure the continuity of critical systems, such as emergency lighting, fire alarms, communication infrastructure, and control systems, allowing businesses to operate smoothly during and after a fire event. Minimizing downtime helps preserve revenue streams and maintain customer satisfaction.
Reduced insurance premiums: Insurance companies often recognize the value of fire-resistant measures and may offer discounted premiums or favorable terms for properties equipped with fire-resistant cables. The installation of these cables demonstrates a commitment to fire safety, reducing the perceived risk of potential fire damage. This can lead to cost savings in insurance premiums over the long term, making fire-resistant cables a financially sound investment.
Compliance with regulations: Fire safety regulations are becoming increasingly stringent in many regions. Compliance with these regulations is not only essential for the safety of occupants but also for avoiding penalties and legal consequences. Fire-resistant cables are designed to meet specific fire-resistance classifications and standards, ensuring compliance with the required regulations. By installing these cables, businesses and property owners can avoid potential fines, legal disputes, and reputational damage that non-compliance may entail.
Long-term cost savings: Fire-resistant cables are engineered to withstand high temperatures and exhibit enhanced durability. This longevity reduces the need for frequent cable replacements and maintenance, resulting in long-term cost savings. Additionally, the robust construction of fire-resistant cables reduces the risk of electrical faults, short circuits, and associated repair costs. By investing in fire-resistant cables, businesses and property owners can benefit from reduced maintenance expenses and improved overall cost efficiency.
Enhanced property value: The presence of fire-resistant cables can enhance the value of a property, particularly in sectors where fire safety is of utmost importance, such as commercial buildings, hospitals, educational institutions, and data centers. Prospective buyers or tenants are more likely to be attracted to properties equipped with robust fire safety measures, including fire-resistant cables. This can translate into higher property values and increased marketability.
Potential of Fire-Resistant Cables
The global fire-resistant cable market is witnessing robust growth due to the increasing demand for safety, stringent fire safety regulations, and the expanding power generation sector. With a focus on preventing fire incidents and ensuring compliance with safety standards, industries and infrastructure sectors are recognizing the immense potential of fire-resistant cables. Their ability to withstand high temperatures, maintain circuit integrity, and limit the spread of fire makes them a vital component in protecting lives and property. The future of fire-resistant cables looks promising, with a wide range of industries adopting these cables to enhance fire safety measures.
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