The European fire-resistant cable market is anticipated to grow at a CAGR of 5.1% during the forecast period. The growth of the market is attributed to the stringent government regulations and higher penetration levels of advanced fire safety technology among both commercial and residential users. The region also has some of the best emergency response infrastructure, globally. In addition to this, fire alarms and smoke detectors are mandated by several local and central authorities, which are directly connected to a national grid for the rapid detection of emergency situations. This will also present new growth opportunities for the market.
Furthermore, according to the Nation Fire Protection Agency (NFPA), a fire occurs in a structure at the rate of one every 63 seconds, and a home fire takes place every 88 seconds. This is one of the major drivers leading to the usage of fire-resistant cables along with the installation of advanced solutions based on IoT technologies and sensor fusion concepts across the country.
The European fire-resistant cable market is segmented based on the insulation material and end-use industry. Based on the insulation material, the market is sub-segmented into EPR, LSZH, XLPE, and PVC. Among which PVC cables are anticipated to capture a significant share across the region owing to its high popularity. Further, based on the end-use industry, the market is sub-segmented into automotive and transportation, energy, manufacturing, building and construction, and others. Automotive & transportation also include marine, aviation, and railways. Energy includes renewable energy such as wind, solar, offshore; hydro, thermal & nuclear power plants, and oil & gas sectors. Building & construction include homes, commercial buildings, offices, and other public places. Others include the telecom sector.
Some of the players of the European fire-resistant cable market include Cleveland Cable Co. Ltd., NKT A/S, Tecnikabel S.p.A., Prysmian Group, Nexans, Leoni AG, and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, and collaborations to stay competitive in the market. For instance, in July 2020, Prysmian Group entered into an agreement to acquire 100% of EHC Global, manufacturer, and supplier of escalator products. The completion of the transaction is expected to occur during the fourth quarter of 2020. The acquisition is in line with Prysmian Group’s strategy to grow and reinforce its value-added businesses. EHC Global is a complementary add-on to Prysmian’s Draka Elevator business, broadening its product portfolio to include a wide range of escalator products and services.
Europe Fire-Resistant Cable Market by Insulation Material
· EPR (Ethylene propylene rubber)
· LSZH (Low Smoke Zero Halogen)
· XLPE (Cross-Linked Polyethylene)
· PVC (Poly Vinyl Chloride)
Europe Fire-Resistant Cable Market by End-Use Industry
· Automotive and Transportation
· Building and Construction
· Rest of Europe
· Cleveland Cable Co. Ltd.
· Habia Cable AB
· HUBER+SUHNER AG
· LEONI AG
· NKT A/S
· Prysmian Group
· Reka Cables Ltd
· Sarawak Cable Berhad
· Tecnikabel S.p.A.
· TELDOR Cables & Systems Ltd.
· Tratos Group
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