A recent report published by Infinium Global Research on the metal-clad cable market provides an in-depth analysis of segments and sub-segments in the global as well as regional metal-clad cable market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional metal-clad cable market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global metal-clad cable market. According to the report, the global metal-clad cable market is projected to grow at a CAGR of 4.4% over the forecast period of 2021-2027.
The metal-clad Cable market was valued at USD 18.8 billion in 2021 and is expected to reach USD 24.3 billion in 2027, with a CAGR of 4.4% during the forecast period. A metal-clad cable (MC Cable) is a corrosion-resistant metal cable that contains insulated copper or aluminum connectors and is mainly utilized for building construction, including residential, commercial, and industrial structures. Its popularity is mostly due to its versatile and economical use. The metal-clad cable includes a grounding wire due to which it can go into concealed and unconcealed spaces, and even be buried underground and can be used in outdoor applications.
Installation of new cable lines and replacement of aging power cable lines to transmission loss is the key factor promoting growth in this market. With increasing urbanization, the demand for power cables has increased, as new cable lines have to be installed in order to provide electricity to consumers. Increasing use of metal-clad cable by builders is driving the market growth. The main reason many builders use metal-clad lines for their electrical installations is MC cables are relatively cheaper compared to pipe and wire installations. The absence of pull-boxes and conduits in metal-clad cable means installations come with fewer material costs and labor outlay. Compared to other alternatives such as pipes, metal-clad cables are much faster to install which eliminates the dull conduit pre-installation before wire-pulling which saves a lot of time and manpower. Interlocked MC Cables are also highly versatile. They are easy to cut and have no limits to the number of bends as long as they follow the bending diameter requirements. As a result, Interlocked MC Cables are easier to work with during installations within large or complex electrical systems. The spread of novel coronavirus (COVID-19) has affected nearly every country in the world. The disease has spread across several countries around the world. The pandemic has lead to a sharp contraction in global metal-clad cable demand throughout 2020. It has resulted in reduced fixed investment, industrial activity and private consumption stifle end-market demand. The demand for cable components, consumption, capital investment, as well as exports has reduced and continues to fall as containment measures have caused a drop in manufacturing activity.
Geographically, Asia Pacific dominates the metal-clad cable market in the year 2020. The growth in the Asia Pacific region is primarily attributed owing to factors such as rural electrification and rapid urbanization. Besides this, increased renewable energy production and large automobile production are the factors facilitating the growth of metal-clad cable in this region. Besides this, Government initiatives to provide internet throughout the country have facilitated growth in optical fiber cables. These factors are responsible for driving the growth of metal-clad cable in this region. Moreover, the Rest of the World comprises the Middle East & Africa, and South America, which are expected to have stable growth opportunities owing to a recovery in economic condition.
The report on global metal-clad cable market covers segments such as metallic cover type, armor material, and end-use industry. On the basis of metallic cover type, the sub-markets include smooth (tube) metallic sheath, corrugated metallic sheath, and interlocking metal tape armor. On the basis of armor material, the sub-markets include aluminum, steel, and others. On the basis of end-use industry, the sub-markets include residential, commercial, industrial, and others.
The report provides profiles of the companies in the market such as AFC Cables, Aksh Optifibre, Belden Inc., Nexans S.A., General Cable Corp, PDU Cables, Prysmian, Southwire, Huadong Cable Group, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the metal-clad cable market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.