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2019-2025 global armored cable annual compound growth of 4.9%

May 27, 2019

Latest company news about 2019-2025 global armored cable annual compound growth of 4.9%

[Cable Network News] International market research organization Zion Market Research recently released the global armored cable market report, the global armored cable market demand in 2018 is 29.806 billion US dollars, is expected to reach 41.587 billion US dollars by 2025, 2019-2025 The compound annual growth rate during the period was 4.9%.

The report argues that the high demand for armored cables in the oil and gas industry is the main driver of growth in the global market. These cables are designed for use in the oil and gas industry, such as petrochemical and natural gas exploration, mining, production and refining. However, the global cable and wire industry and the cyclical nature of materials may be the main challenges facing the market.

From the point of view of the type of armored materials, stainless steel, stainless steel and other (copper, brass, etc.) stainless steel occupy a large share of the market, and it is estimated that it will dominate in the future. The growing preference for durable cabling solutions in underground applications in the manufacturing and transmission industries is expected to drive growth in this segment over the next few years. At the same time, the growth trend of light electric vehicles in the global automotive industry will drive demand for aluminum-based armored wires.

From the perspective of armor type, the market includes interlocking and continuous corrugated welding (CCW). It is estimated that continuous corrugated welding (CCW) will occupy a major share of the market during the forecast period. The low installation cost of CCW is driving its application in the refining industry. Increased investment in global offshore production platforms, refineries, LNG facilities and petrochemical processing plants is expected to drive demand for CCW armored cables in the future.

According to the type of battery core, the global armored cable market is divided into single core and multi core. The multicore segment is expected to show a considerable compound annual growth rate in the coming years as it is easy to handle, flexible and cost effective, which promotes the demand for various industrial applications and makes end users more preferred.

Based on end users, global armored cable applications include construction, natural gas and petroleum, manufacturing, mining, communications and others (aerospace, chemical, etc.). The natural gas and oil industries contribute a major share of revenue and are expected to show high compound annual growth rates during the forecast period. Major manufacturers in the oil and gas industry are increasingly investing in advanced manufacturing and processing technologies to reduce production costs and increase production, which in turn will drive demand for armored cables in the industry.

According to the regional market, the armored cable market in the Asia-Pacific region accounts for the majority of the global revenue in 2018. As the infrastructure market in China, India and ASEAN continues to increase, it is expected that the Asia-Pacific region will continue to dominate the market by 2025. .

(This article is the first cable network www.cableabc.com.)

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