ITC Instrumentation Cable Market Size - By Material (Copper, Aluminum), By End Use (Oil & Gas, Chemical, Process Automation, Manufacturing), Regional Outlook & Global Forecast, 2024 – 2032

ITC Instrumentation Cable Market Size

ITC Instrumentation Cable Market was valued at USD 7.7 billion in 2023 and is estimated to grow at a CAGR of 8% during 2024 to 2032. The expansion of ITC instrumentation cable is propelled by its exceptional quality, dependable performance, and adaptability across various sectors such as energy, telecommunications, and manufacturing. The continuous development of energy infrastructure is a key driver for the industry growth.
 

As industries progress technologically, the need for precise and efficient data transmission grows, fuelling the demand for ITC instrumentation cables. Moreover, their adherence to international standards and certifications ensures widespread acceptance. Companies are investing heavily to expand their operations.
 

ITC Instrumentation Cable Market Trends

Expansion of energy infrastructure is a significant driver for the ITC instrumentation cable industry, as new projects require durable cabling for monitoring and control systems. With increased activities in oil and gas exploration and production, there's a growing demand for reliable instrumentation cables to facilitate data transmission and control in challenging environments. Moreover, the increasing emphasis on process control across diverse sectors such as manufacturing and automation is boosting the requirement for high-quality cables to ensure efficient and precise data transmission.
 

Market players are actively enhancing the functionalities of automation control systems to serve various industries like transportation, oil & gas, process automation, and chemical sectors. These factors collectively propel the demand for the ITC instrumentation cable, meeting the evolving demands of modern industries.
 

ITC Instrumentation Cable Market Analysis

Based on the material, the copper segment is poised to reach over USD 12.8 billion by 2032 owing to advancements in materials technology. Copper is crucial in ITC instrumentation cable since it allows efficient transmission of signals with minimal loss. Its malleability enables easy installation, while resistance to corrosion ensures longevity. Copper's reliability makes it integral for precise data transmission in various industrial and control applications. Innovations such as conductive polymers, composite materials, and hybrid alloys offer improved conductivity, durability, and cost-effectiveness compared to traditional copper and aluminum cables.
 

Based on end use, the oil & gas segment is anticipated to grow at a CAGR of more than 7.5% through 2032, owing to advancements in materials technology. The burgeoning demand worldwide is significantly driving the industry forward. As per BP Statistical Review of World Energy 2023, global crude oil production reached approximately 4.4 billion metric tons in 2022.
 

Asia Pacific region ITC instrumentation cable market is anticipated to exceed USD 5.5 billion by 2032. The cables are highly significant due to its rapid industrialization and urban development, which are spurring demand for infrastructure projects and industrial automation. Government-supported programs and policies promoting the digitization of manufacturing facilities are driving the extensive uptake of industrial control automation solutions in the area.
 

ITC Instrumentation Cable Market Share

Prysmian Group, Nexans and Belden stand as a frontrunner in the ITC instrumentation cable sector, presenting an extensive range of tailored products to fulfill varied application requirements. Their commitment to innovation guarantees the manufacturing of top-tier, state-of-the-art items that align with industry benchmarks. With a worldwide footprint and resilient distribution networks, these companies ensure accessible reach for customers across the globe.
 

ITC Instrumentation Cable Market Companies

Some of the major key players operating in the ITC instrumentation cable industry are:

• ABB
• Anixter
• Allied Wire and Cable
• Belden Inc.
• Bahra Electric
• CommCsope
• Elseweddy Electric
• Furukawa Electric Co. Ltd.
• Fujikura Ltd.
• Hellenic Group
• Helukabel GmbH
• Kabelwerk Eupen AG.
• Leoni Ag
• LS Cable & Systems
• Lapp Group
• NKT A/S
• Nexans
• Prysmian Group
• Polycab
• Ravicab Cables Private Limited
• Sumitomo Electric
• Shawcor
   

ITC Instrumentation Cable Industry News

• In January 2023, Nexans and TriMet have established a partnership under which it was announced to develop a material with recycled aluminum for the manufacturing of electrical cables. These companies will work on reducing carbon reduction as it will fulfil technical requirements.
   
• In December 2022, Shawcor has done business expansion in the aviation, nuclear, and various industries by acquiring of Kanata Electronic Services Ltd. It will create a huge scope for vertical integration and market expansion in wire and cable industry in the coming years.
   

This ITC instrumentation cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Tonnes” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Material

• Copper
• Aluminum
• Others

Market, By End Use

• Oil & Gas
• Chemical
• Process Automation
• Manufacturing
• 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