Armored Cable Market Size, Share, Growth and Industry Analysis by Type (Tape and Wire) By Application (Infrastructure Construction, gas & Oil Industry, Construction and Manufacturing Industry, and Mining Industry), Regional Forecast to 2031

Updated On: 08 April 2024

ARMORED CABLE MARKET REPORT OVERVIEW

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The global armored cable market size was USD 35476.69 million in 2021 and is projected to touch USD 57718.3 million by 2031, exhibiting a CAGR of 4.99% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the armored cable experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A cable having a metal coating for protection is said to be armored. The fiber optic cable in armored cable assemblies is protected from rodents and given greater stiffness for aerial lashing. This makes them ideal for lashed aerial applications.

COVID-19 impact: Adverse Effect of Pandemic to Impede Market Expansion

The bulk of industries have seen negative repercussions globally during the past year. This can be attributed to the significant interruptions produced in each company's production and supply-chain operations by the different precautionary lockdowns and other restrictions that were imposed by governing bodies around the world. The same is true for the global armored cable market. Additionally, because this outbreak has had a negative influence on the general economic situation of the majority of people, consumer demand has now fallen as people have become more focused on reducing non-essential spending from their individual budgets.

LATEST TRENDS

"Infrastructural Development to Foster Market Growth"

Cable glands have become one of the main elements of cable management systems over the past few decades and are frequently employed in a variety of industrial and hazardous applications. The armored cable market growth is rising, which is a major factor boosting demand for the product. The need for effective cable management systems is growing along with the growth of the physical infrastructure. Additionally, as the telecom industry develops, cable glands are now turning into a crucial part for connecting the cables that transport data.

ARMORED CABLE MARKET SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments: Tape and Wire.

• By Application:

Classification based on application into the following segment: Infrastructure Construction, gas & Oil Industry, Construction and Manufacturing Industry, and Mining Industry.

DRIVING FACTORS

"Increasing Construction Activities to Accelerate Market Growth"

The market's expansion is also aided by an increase in construction activity on a global scale. The majority of rising nations are making significant investments in infrastructure expansion to improve economic circumstances. Thus, the building and remodeling of public and private facilities has also fueled the need for cable glands by increasing the requirement for safe cable connections.

"Increasing Demand for Metal-Clad to Propel Market Growth "

Due to their great mechanical protection and endurance, metal-clad cables are becoming more and more popular in construction and industrial applications, and manufacturers are boosting their output capacity for these materials. Additionally, installing these cables takes less man hours. Metal-clad cables are becoming more and more common in industrial, utility, and commercial applications. Interlocked armor is more adaptable than electrical conduits. These cables are used in systems with numerous bends spaced closely together. These represent the market opportunity for armored cables.

RESTRAINING FACTOR

"Risk of Damage to Decrease Market Growth"

Cleaning teams run the risk of damaging cables, and lost wires present a trip hazard. Additionally, compared to wireless devices that may be unplugged during storms or power outages, always-on technology systems may be more vulnerable to electrical surges and damage.

ARMORED CABLE MARKET REGIONAL INSIGHTS

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"Increasing Demand for Energy Infrastructure to Foster Growth in Asia Pacific"

Asia Pacific is expected to have the largest armored cable market share. Many economies throughout the world have plans for smart-grid infrastructure that, during the projection period, will heavily rely on electrical and mechanical equipment, including metal-clad cables. The substantial demand for energy infrastructure upgrades is anticipated to be advantageous for the cable sector.

Because of the increased need for technologically advanced equipment, metal clad cable is very popular in North America. The construction, manufacturing, and oil and gas sectors are the main drivers of technology in North America. Metal-clad cable (and other cable management tools) find a significant market in the United States, where it is anticipated that dominance will continue. The demand for infrastructure and energy increases along with the region's population growth, advancing the building industry there in the years to come.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• LS Cable (South Korea)
• Doncaster Cables (U.K.)
• ABB (Switzerland)
• Prysmian (Italy)
• Encore Wire (U.S.)
• Atkore (U.S.)
• Utama Cables Sdn Bhd (UTC) (Malaysia)
• Zhongchao Cable (China)
• Southwire (U.S.)
• Sun Cable (Singapore)
• Walsin Lihwa (Taiwan)
• Nexans (France)
• TEBA (Israel)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.