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.

Research Methodology

The market study of the European fire-resistant cable market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for manufacturers of cables manufacturers, distributors, electric utilities, power plant project developers, power grid infrastructure companies, government, and power research organizations, and regulatory authorities for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

Market Segmentation

1. Europe Fire-Resistant Cable Market Research and Analysis by Insulation Material
2. Europe Fire-Resistant Cable Market Research and Analysis by End-Use Industry

The Report Covers

• Comprehensive research methodology of the European fire-resistant cable market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European fire-resistant cable market.
• Insights about market determinants which are stimulating the European fire-resistant cable market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.