The global armored cable market size was worth around USD 40.26 billion in 2023 and is predicted to grow to around USD 74.01 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.12% between 2024 and 2032.
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Overview of the Armored Cable Market
An armored cable is an optical cable that is equipped with a plastic or elastomer covering. This supplementary coverage is implemented to protect against mechanical injury. Coax cable serves as an armor layer. An armor layer is a foil wrapping that is textured to resemble corrugated metal in order to facilitate flexibility. In order to prevent moisture from permeating the cable and causing damage, a flooding compound is applied both inside and outside of the foil wrapping. In order to safeguard the cable from any potential harm, the internal assembly of this cable is composed of numerous layers.
The global demand for cables and wires has experienced a substantial increase in the past decade as a result of substantial government investments in the development of infrastructural and construction projects. Furthermore, the accelerated industrialization of developing countries necessitates the construction of a new power transmission network and the renewal of the existing power distribution and transmission network.
The study encompasses the armored cable market’s drivers and restraints, as well as their influence on demand during the forecast period. Furthermore, the report encompasses an examination of the armored cable market’s global opportunities and threats.
An analysis of Porter’s Five Forces model for the armored cable market has also been incorporated to comprehend the competitive landscape in the market. The research includes a market attractiveness analysis, which evaluates the market size, growth rate, and general attractiveness of all segments.
Growth Factors in the Armored Cable Market
The global armored cable market is primarily driven by the high demand for armored cable in the oil and gas industry. These cables are specifically engineered for the oil and gas sector, including the exploration, extraction, production, and refinement of petrochemicals and gas. Moreover, the primary companies in the global armored cable market are dedicated to the creation of customized and specific cables for a variety of industries and applications. This, in turn, is expected to further stimulate the armored cable market in the years ahead.
Nevertheless, the industry’s cyclical character presents a significant obstacle. On one hand, cable manufacturing companies interact with large, consolidated customers, while on the other hand, they interact with large suppliers of basic materials. This may indirectly limit the market during the forecast period. It is anticipated that the automobile sector will experience substantial growth opportunities in the future as a result of the increasing investments being made in the development of autonomous vehicles. In the years ahead, the telecom industry is expected to offer lucrative growth opportunities as a result of the increasing adoption of advanced technologies and systems.
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The Global Armored Cable Market is segmented based on product, application and region
Global Armored Cable Market: Product Segment Analysis
● Aluminum
● Stainless Steel
● Others
Global Armored Cable Market: Application Segment Analysis
● Construction Industry
● Gas and Oil Industry
● Manufacturing Industry
● Mining Industry
● Communication Industry
● Others
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The Global Armored Cable market profiles key players such as:
● Atkore International
● Belden
● LS Cable & System
● Nexans
● Prysmian
● Service Wire Company
● Southwire Company
● The Okonite Company
● Omni Cable Corporation
● Anixter International
Regional Analysis of the Armored Cable Market
The regional segmentation encompasses the current and projected demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It is further classified into significant countries, including the United States, Germany, France, the United Kingdom, China, Japan, India, and Brazil.
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