Author: Himanshu Patni
21 November 2022
The Control Cable Market is projected to grow at a significant CAGR of 5% during the forecast period. The rise in process automation preferences across industries, the expansion of infrastructure spending, and the expansion of control cable applications all have an impact on the market growth for control cables. Moreover, Control cables are also flexible and ideal for usage under a variety of conditions, including low, moderate, and high mechanical loads. Additionally, these cables offer varying degrees of protection against electrical interference, resistance to oils and caustic substances, and resistance to both. The market growth is anticipated to be constrained during the forecast period by the high installation costs of control cables.
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Based on type, the market can be segregated into CY cable, YY cable, SY Cable, LiYCY cable, LiYY cable, LiHH cable, and LiHCH cable. Among all the cable types, SY cable is anticipated to dominate the global control cable market during the forecast period. This is because SY cable has the capacity to provide high dependability and mechanical protection due to its 4KV test voltage. As a result, the majority of heavy industries employ these cables.
Based on the application, the global market can be segmented into conveyor systems, assembly links, robotics, air conditioning systems, and others. Amongst them, the robotics segment is expected to dominate the global market during the forecast period. The factor is attributed to the growing implementation of AI in the robotics industry, and it is expected that robots is the future in almost every industry, helping the control cable market growth.
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For a better understanding of the market adoption of Control cables, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. The Asia Pacific is projected to hold the largest share of the Control cable market by 2027 due to rising demand from expanding economies in the Asia Pacific, including China, India, and other nations. Furthermore, in India, rising government initiatives and projects such as the building of 100 smart cities are slated to proliferate residential construction activities and in turn, boost the regional market growth in the years ahead.
Some of the major players operating in the market are Belden Inc., Thermo Cables Pvt. Ltd, General Cable Technologies Corporation, Texcan, Multi Cable Corporation, Teldor Cables & Systems Ltd., Nexans, Techno Flex Cables, Orient Cables Pvt. Ltd., and Prysmian S.P.A.
Control Cable Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by Region
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