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Interlocked Armored Cable Market Size
Interlocked Armored Cable Market was valued at USD 19.7 billion in 2023 and is anticipated to grow at a CAGR of over 7.8% CAGR between 2024 and 2032, owing to the expanding construction industry, which in turn is driving demand for these cables in residential, commercial, and industrial projects. Additionally increasing investments in infrastructure projects such as power transmission, railways, and oil & gas facilities necessitate reliable and durable cabling solutions, thus will be boosting the demand for interlocked armored cables.
The rising awareness regarding the benefits of armored cables, including protection against physical damage, moisture, and electromagnetic interference, further contributes to market growth. Furthermore, private companies are taking relentless efforts to innovate existing products, which can be utilised in government projects.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 19.7 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 7.8% |
| 2032 Value Projection: | USD 40 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 195 |
| Segments covered: | Core Type, End User |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Interlocked Armored Cable Market Trends
The interlocked armored cable industry is experiencing notable trends in 2024. There's a growing emphasis on sustainability, leading to the development of eco-friendly materials and manufacturing processes. The rise of smart infrastructure and IoT applications will fuel the demand for interlocked armored cables with enhanced data transmission capabilities, including higher bandwidth and improved electromagnetic interference shielding.
Interlocked Armored Cable Market Analysis
Based on core type, the multi core segment is likely to cross USD 30 billion by 2032 owing to their versatility and efficiency in power transmission. Offering multiple cores within a single cable enables the simultaneous transmission of various signals or power phases, reducing the need for multiple cables and simplifying installation. This consolidation not only saves space but also minimizes installation costs and complexity. Additionally, multi-core cables provide better resilience against electrical interference and environmental factors, making them a preferred choice for diverse applications across industries such as construction, manufacturing, and infrastructure development.
Based on end users, the oil & gas sector is estimated to register 7 % CAGR through 2032, since the oil & gas industry heavily relies on robust and reliable electrical infrastructure for operations in harsh environments, such as offshore rigs and refineries. Interlocked armored cables offer superior protection against physical damage, moisture, and corrosion, making them ideal for these demanding applications. Additionally, increasing investments in oil & gas exploration and production activities globally further drive the demand for these cables in the sector, leading to the projected growth.
Asia Pacific interlocked armored cable market is projected to surpass USD 15 billion by 2032, owing to rapid urbanization and industrialization which drives demand for infrastructure, including electricity and telecommunications, where armored cables are crucial. Moreover, economic growth in countries like China and India will fuel construction projects, further boosting demand. Japan's market is expanding due to infrastructure upgrades, urbanization, and demand in construction projects for reliability and safety. Whereas South Korea sees tremendous growth driven by industrial development, smart city initiatives, and renewable energy projects, fostering demand. Similarly, Australia's market grows with infrastructure investments, mining, and renewable energy projects, driven by safety regulations and technological advancements.
The U.S. market for interlocked armored cable is witnessing significant growth due to increasing demand in construction sector as well as oil & gas industry, driven by urbanization and industrial expansion. Enhanced safety features and durability make it preferred for electrical installations, fostering its adoption across residential, commercial, and industrial sectors.
Interlocked Armored Cable Market Share
Prysmian, Belden, and Nexans are poised to lead the interlocked armored cable business due to their established reputations for quality, extensive product portfolios, and global presence. Their innovative designs and advanced manufacturing capabilities enable them to meet diverse customer needs efficiently. Additionally, their long-standing industry experience gives them a competitive edge in understanding market trends and adapting swiftly to technological advancements.
Interlocked Armored Cable Market Companies
The major companies operating in the interlocked armored cable industry include:
- A1X Technologies LLC
- Anixter International
- AT&T
- Atkore International
- Belden Inc.
- Bulgin Limited.
- Furukawa Electric Co. Ltd.
- Finolex
- HELUKABEL
- Hongda cable materials
- Hebei Huatong Cable
- Havells
- KEI Industries Limited
- Leoni Cables
- LS Cable & System Ltd.
- MAEDEN Innovation Co., Ltd.
- NKT A/S
- Nexans
- Okonite Company
- Omni Cables
- Prysmian S.P.A
- RR Kabel
- Polycab
- Riyadh Cables
- Sumitomo Electric Industries, Ltd.
- Southwire Company, LLC.
Interlocked Armored Cable Industry News
- In September 2021, Nexans reached a notable achievement with its acquisition of Centelsa, a prominent cable manufacturer situated in Latin America. This strategic decision represented a significant progression in Nexans' goal to strengthen its role as a committed participant in electrification and to expand its influence in the Latin American region.
- In October 2022, NKT A/S commenced operations at a newly inaugurated HV cable production facility in Europe. The company is set to embark on manufacturing high-voltage cables at this state-of-the-art plant, aiming for business growth through substantial investments in the high-voltage cable sector.
This Interlocked armored cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Tonnes & USD Million” from 2021 to 2032, for the following segments:
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Market, By Core Type
- Single Core
- Multi-Core
Market, By End Users
- Oil & Gas
- Manufacturing
- Mining
- Construction
- Others
The above information has been provided for the following countries across the regions:
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Netherlands
- Italy
- Spain
- Germany
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- South Africa
- Egypt
- Latin America
- Brazil
- Argentina
- Peru
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