New York, NY, May 27, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Armored Cable Market By Material Type (Aluminum, Stainless Steel, and Others), By Armored Type (Interlocked and Continuously Corrugated Welded), By Core Type (Multi-Core and Single Core), and By End-User (Construction Industry, Gas & Oil Industry, Manufacturing Industry, Mining Industry, Communication Industry, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global armored cable market was around USD 29,806 million in 2018 and is expected to reach approximately USD 41,587 million by 2025, at a CAGR of around 4.9% between 2019 and 2025.
Armored cables contain some kind of metal sheath that is the first cover of armor, which is typically made of continuous or interlocked stainless steel or aluminum. It can be also covered in corrugated or smooth metal tape. The armor guards the cable against water destruction by high-pressure wash-down, extreme temperatures, and cleaning agents. The high demand for armored cable in the oil and gas industry is the main driver of the global armored cable market growth. These cables are specially designed for the oil and gas sector applications, such as exploration, extraction, production, and refining of petrochemicals and gas. However, the cyclic nature of the global cable and wire industry may be a major challenge for the armored cable market globally.
Browse through 71 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Armored Cable Market Size, Share 2018: By Material Type, Industry Trends, Demand, Segments, Analysis and Forecast to 2025”.
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On the basis of material type, the global armored cable market includes aluminum, stainless steel, and others (copper, brass, etc.) Stainless steel accounts for a significant share and is estimated to grow prominently in the future. The increasing preference for durable wiring solutions in underground applications of manufacturing and power transmission industries is anticipated to propel this segment’s growth in the upcoming years. The growing trend of lightweight electric vehicles in the global automotive industry is estimated to boost the demand for aluminum-based armored wires.
By armored type, the market includes interlocked and continuously corrugated welded (CCW). The continuously corrugated welded (CCW) segment is estimated to hold a major share of the global armored cable market over the estimated timeline. The low installation cost of CCW is driving its applications in the refining industry. The increasing investments made in offshore production platforms, refineries, LNG facilities, and petrochemicals processing mills across the world is also anticipated to boost the demand for CCW armored cables in the future.
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By core type, the global armored cable market is bifurcated into a single core and multi-core. The multi-core segment is predicted to show considerable CAGR in the years ahead, owing to its ease of handling, flexibility, and cost-effectiveness that is fuelling its demand for diverse industrial applications and making it more preferable by the end-users.
Based on end-user, the global armored cable market includes the construction industry, gas, and oil industry, manufacturing industry, mining industry, communication industry, and others (aerospace, chemical, etc.) The gas and oil industry contributed a major revenue share in 2018 and is anticipated to exhibit significant CAGR over the forecast time period. The major manufacturers in the oil and gas industry are increasingly investing in advanced manufacturing and processing technologies to reduce production costs and increase production volume. This, in turn, is predicted to fuel the demand for armored cables by the segment.
Browse the full “Armored Cable Market By Material Type (Aluminum, Stainless Steel, and Others), By Armored Type (Interlocked and Continuously Corrugated Welded), By Core Type (Multi-Core and Single Core), and By End-User (Construction Industry, Gas & Oil Industry, Manufacturing Industry, Mining Industry, Communication Industry, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/armored-cable-market
By region, the Asia Pacific armored cable market accounted for a major share in terms of revenue in 2018 globally and is projected to grow significantly over the forecast time period as well. India and China are the major countries for armored cables in the region due to rapid industrialization and huge government investments made in infrastructural developments across the region.
The North American armored cable market growth can be attributed to the growing number of infrastructural developments witnessed across the U.S., rising per capita income of the regional population, and improving economic conditions. According to the latest report by IBISWorld, the cable and wire manufacturing industry in the U.S. has grown by 0.8% over the last five years. The well-developed application industries, such as construction, utilities, telecommunications, and consumer goods, are anticipated to offer considerable growth opportunities for this market in the future.
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Huge investments for various research and development activities by the majority of the leading market players in the region are anticipated to enhance the penetration of the armored cable market in Europe. Germany and UK are the prominent countries contributing to the overall growth of this regional market.
The Middle Eastern and African and Latin American regions are estimated to account for comparatively less revenue and register a relatively low CAGR over the forecast time period in the global armored cable market. The increasing importance of smart metering infrastructure coupled with huge capital investments in smart meter deployment projects is estimated to drive this market’s future growth in these regions.
Some major players operating in the global armored cable market are Atkore International, Belden, LS Cable & System, Nexans, Prysmian, Service Wire Company, Southwire Company, The Okonite Company, Omni Cable Corporation, and Anixter International.
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This report segments the global armored cable market as follows:
Global Armored Cable Market: Material Type Analysis
- Aluminum
- Stainless Steel
- Others (Copper, Brass, etc.)
Global Armored Cable Market: Armored Type Analysis
- Interlocked
- Continuously Corrugated Welded (CCW)
Global Armored Cable Market: End-User Segment Analysis
- Construction Industry
- Gas and Oil Industry
- Manufacturing Industry
- Mining Industry
- Communication Industry
- Others (Aerospace, Chemical, etc.)
Global Armored Cable Market: Core Type Analysis
- Multi-Core
- Single Core
Global Armored Cable Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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