Fire Rated Cables Market Insights, Emerging Trends & Future Scope 2022 to 2032
The fire-rated cables market is expected to be worth US$ 1,915.0 million in 2022. The broad range of applications and rising industrial value are expected to be the market’s primary growth factors. Fire-rated cable sales are expected to reach US$ 2,655.0 million by the end of 2032, with a 3.3% CAGR between 2022 and 2032.
Flame retardant and fire-rated cables are the two types of fire safety or fire protection cables. The primary distinction between flame retardant cables and fire-rated cables is that flame retardant cables are only designed to prevent combustion and thus limit the spread of fire, whereas fire-rated cables, also known as circuit integrity cables or fire resistive cables, can function in the presence of fire for a specified time under specified conditions. In the case of a fire, these cables are precisely engineered to keep the circuit intact. They are effective flame retardants with beneficial properties such as superior electrical and mechanical properties.
Fire-rated cables are simple-to-install cables that help to ensure the orderly shutdown of systems and the evacuation of building occupants. In the event of a fire, fire-rated cables can maintain the continuity and circuit integrity of electrical circuits such as electric heaters, furnaces, ovens, heating & air conditioning equipment, kilns, cooking equipment, appliances, lighting fixtures, fire safety equipment, and alarm systems for a longer period of time.
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The global fire-rated cables market is estimated to be driven by safety standards in various commercial and residential buildings as well as standards that ensure the safety of roadway tunnels, refineries and transit systems. A fire-rated cable consists of insulation and a fireproof layer that can survive high temperatures ranging from 750°C to 950°C.
Fire-Rated Cables Market: Dynamics
Drivers
Safety & security regulations, especially in countries, such as the U.S., Europe, and Japan are forecasted to support the growth of the global fire-rated cables market.
Favourable characteristics, such as the ability to withstand high temperatures (750°C-950°C), low toxicity, non-corrosiveness and low smoke emission during a fire are estimated to drive the global fire-rated market.
Restraints
The high cost of fire-rated cables, as compared to other fire protection cables may hamper the growth of the market, especially in cost-sensitive regions, such as Asia-Pacific and Middle East & Africa.
Fire Rated Cables Market: Segmentation
The global fire-rated cables market can be segmented based on construction as single-core fire-rated cables and multicore fire-rated cables. The global fire-rated cables market can be segmented based on type as unarmored, armoured, braided and others. The global fire-rated cables market can be segmented based on application as residential applications, commercial applications and industrial applications.
Fire Rated Cables Market: Regional Outlook
The Asia Pacific fire-rated cables market is estimated to witness rapid growth, owing to an increase in stringent safety standards and growth in building & industrialization. Europe and North America are estimated to dominate the fire-rated cables market over the forecast period, owing to high safety & security measures mandated by governments. The Japan fire-rated cables market is estimated to grow at a significant rate, owing to consumer behaviour of adopting safety measures.
Fire Rated Cables Market: Market Participants
Examples of some of the market participants in the global fire-rated cables market, identified across the value chain include:
Prysmian Group Nexans S.A Elsewedy Electric TPC Wire & Cable Corp. Relemac Technologies Pvt. Ltd. RR Kabel RSCC Wire and Cable FirstFlex Cleveland Cable Company Universal Cable (M) Berhad
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Key Segments of Fire Rated Cables Industry Survey
Fire Rated Cables Market by Construction:
Single Core Fire Rated Cables Multicore Fire Rated Cables
Fire Rated Cables Market by Type:
Unarmored Fire Rated Cables Armored Fire Rated Cables Braided Fire Rated Cables Other Fire Rated Cable Types
Fire Rated Cables Market by Application:
Fire Rated Cables for Residential Applications Fire Rated Cables for Commercial Applications Fire Rated Cables for Industrial Applications
Fire Rated Cables Market by Region:
North America Fire Rated Cables Market Latin America Fire Rated Cables Market Europe Fire Rated Cables Market East Asia Fire Rated Cables Market South Asia & Oceania Fire Rated Cables Market Middle East & Africa Fire Rated Cables Market