The low smoke halogen free cable market was valued at US$ 1,898.7 million in 2019 and is projected to reach US$ 3,945.1 million by 2027; it is expected to grow at a CAGR of 10.1% from 2020 to 2027. Growth in recent years in the low smoke halogen free cable market is primarily driven by the increasing regulations on fire control and implementation of fire retardant equipment especially in buildings that are prone to fire hazards. European region is observed to garner the highest low smoke halogen free cable market share globally.
It has been observed that in a majority of the developed and developing economies, stringent fire regulations have been laid with regards to the construction of new buildings in order to ensure safety for occupants. Countries such as the US, Australia, Canada, Mexico, the UK, Germany, Spain, Italy, and India have laid down stringent regulations with regard to fire safety. Additionally, the concerned authorities have laid heavy punishments in case of violence of the codes. Virtually, every building, process, service, design, and installation is affected by NFPA’s codes and standards. These codes and standards, reflect changing industry needs and evolving technologies, supported by research and development, and practical experience. Diverse regulations across the globe in different regions have together driven the Low smoke halogen free cable market.
Europe has dominated the global low smoke halogen free cable market. The growth of low smoke halogen free cable in the region is also supported by the government associations across the region. For instance, the European Commission had lately drafted new building code requirements in order to strengthen protection against fire around residential, industrial, and commercial premises.
Fire protection regulations and strategy laid down by the regulatory bodies and other laws and regulations in Europe are at par with those in the US. Also, in the year 2017, an EU funded initiative had proposed a document for the development of a common European legal framework for the use of fire protection codes in Europe. Similar to Europe, there have been regulations implemented in other countries across the globe that have contributed to the positive growth of the low smoke halogen free cable market.
Laws and measures made for the safety of the workforce would have a positive impact on the deployment of electrical fittings including cables. In China, CNEx certification is needed for gaining access for HazLoc products to the People’s Republic of China. Also, in Taiwan, the Safety Label for Ex equipment specifies conformity to Taiwan national standards (CNS) and achievement of official registration scheme by Taiwan Ministry of Labor. At present, it is an obligatory requirement that all Ex equipment is mandatory to obtain a Safety Label prior to import, sales, distribution, installation or operation in the country. European Union (EU) has formulated the Construction Product Regulation (CPR). The regulation proposed by the EU is laid to control the limits of dangerous substances in the materials which is used during construction. This regulation is applied to all products which are to be fixed permanently in the construction. With respect to cables, the regulation applies to telecommunication, power, and control cables. Moreover, now it has become a mandate for all the installed cables to comply with the CPR regulation. The mandate of such rules and regulations have been driving the adoptions of Low smoke halogen free cable market globally.
BASF SE, Borealis AG, DowDuPont Inc., Fujikura Ltd., Hitachi Ltd., Nexans SA, Prysmian Group, Orbia (Mexichem Specialty Compounds), Shanghai Kaibo Compounds Factory Co., Ltd., and Sumitomo Electric Lightwave Corp are some of the key players included in the global low smoke halogen free cable market.
Impact of COVID-19 Pandemic on Low smoke halogen free cable Market
More than 30 countries worldwide have declared a state of emergency, as COVID-19 continues to spread. Besides the urgent "cities closure" in European, American, and Asian countries, key industries in India, Malaysia, Philippines, and other Southeast Asian nations have announced closures in succession, which is expected to bring challenges to the supply side of several sectors. This factor affects various industries such as aerospace & defense manufacturing, ship manufacturing, and telecommunications, and construction.
COVID 19 effects have benefitted wireline broadline numbers for telecommunication companies in the US, including AT&T and Verizon. For instance, AT&T reported ~209,000 additional AT&T Fiber net and Verizon reported ~59,000 Fios Internet net additions during 1Q 2020. This factor is anticipated to propel the growth of the low smoke halogen free cable market.
Overall size of the global low smoke halogen free cable market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the low smoke halogen free cable market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the low smoke halogen free cable market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global low smoke halogen free cable market
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Table of Contents
Companies mentioned
- BASF SE
- Borealis AG
- DowDuPont Inc.
- Fujikura Ltd.
- Hitachi Ltd.
- Nexans SA
- Prysmian Group
- Mexichem Specialty Compounds
- Shanghai Kaibo Compounds Factory Co., Ltd.
- Sumitomo Electric Lightwave Corp
