Global Insulated Cables Market Report 2022 – Market Forecast, Trends And Strategies
12 May, 2022
The global insulated cables market size is expected to decline from $94.96 billion in 2021 to $89.40 billion in 2022 at a compound annual growth rate (CAGR) of -5.9%. The decline is mainly due to the companies facing production and supply chain issues during the COVID-19 pandemic in 2021. The insulated cable market is expected to decline to $50.25 billion in 2026 at a CAGR of -13.4%.
What is the Global Insulated Cables Market?
The insulated cables market consists of sales of insulated cables and related services that are used in various applications such as electrical equipment, construction, telecommunications, and motor vehicles. The insulated cable is a cable that is resistant to electric current as it consists of non-conductive material. Insulated cables are used in lights, fans, computers, television, and telephone.
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What drives the Global Insulated Cables Market?
Increased use of insulated cables and wires in the automotive sector will enhance the growth of the insulated cables market. Insulated wires are used to handle unique stress during the manufacturing process in the automotive industry and are also used to connect car batteries with other components. The heavy demand for insulated wires in the automotive industry is supported by the wide range of insulting wires offered by the manufacturers in the insulated cables market. According to the European Automobile Manufacturers Association (ACEA), as of 2019, there were a total of 98.1 million units of motor vehicles along with 79.3 million units of passenger cars produced in the world. Therefore, the increasing use of insulated cables and wires in the automotive sector is driving the market.
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https://www.thebusinessresearchcompany.com/report/insulated-cables-global-market-reportGlobal Insulated Cables Market Segments
The global insulated cables market is segmented:
By Type: Copper, Aluminum, Fiber Optic, Others
By Voltage: Low Voltage, Medium Voltage, High Voltage
By Application: Electrical Equipment, Construction, Telecommunications, Motor Vehicles, Industrial Machinery
By Geography: The regions covered in the insulated cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Insulated Cables Global Market Report 2022 provides market size and growth forecasts for the global insulated cables market, global insulated cables market share, insulated cables market segments and geographies, insulated cables market competitive landscape including leading competitors’ revenues, profiles and market shares. The insulated cables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Insulated Cables Industry Players include Southwire, General Cable, 3M, ABL Electronic Supplies, Inc, AFC Cable Systems, Amphenol Corp, Asia Pacific Wire, and Cable Corporation Limited, Belden Inc, Cable USA, and LS Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.