Control Cable Market to Exhibit Substantial Growth by 2024 – Hexa Research
The Global Control Cable Market is expected to record considerable growth during the forecast period (2016 to 2024). High demand from industries, like automation and process control systems will fuel the global industry till 2024. Control cables are types of instrumentation cables that measure and regulate the automation process. They are used as interconnections between static and mobile equipment. Favorable performance of the U.S. market may have a direct impact on the global industry in the years to come. Surging demand for control cable products in construction, building, rail, and transport can fuel this region.
The global control cable market is segmented on the basis of products, energy chains, applications, and regions. Based on products, the divisions are screened flexible (CY), shielded flex (SY), and unscreened cables (YY). Screened flexible cables find use in space saving installations and in applications that are free of interference. These cables protect the external layers from mechanical stress and electromagnetic impacts. They are utilized in interconnecting cables that measure, regulate, and control office machines, systems for processing data, and assembly line equipment.
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Shielded flex cables offer superior electrical performance, mechanical protection, and high reliability. These cables contain galvanized steel braids that make them durable and very sturdy. They find use in construction & industrial machineries, air conditioning installations, and in plant engineering. In outdoor applications, SY cables offer high efficiency in dry and moist climatic conditions.
Unscreened control cables are applied in areas that face low mechanical stress. They are used in both outdoor and indoor applications. However, in case of the former, the conditions must necessarily be dry and protected. Just like screened flexible cables, these too are applied extensively in space saving installations. Production lines, manufacturing machine tools, conveyor systems, and air conditioning systems are its main applications.
Based on energy chains, the worldwide Control Cable Market is fragmented into PVC (polyvinyl chloride), PUR (polyurethane), and TPE (thermoplastic elastomer). Polyvinyl chloride is generally used in the outer coverings of cables. PUR has a minimum bending radius that is five to thirteen times the diameter of cables. This material is a key component in the outer jackets of cables. Thermoplastic elastomers have a minimum bending radius which is four or five times the cable diameter. Substantial demand from bulk handling equipment industry, agriculture, construction plant, marine, motorsport, and road transport could propel this segment robustly in the forecast period.
In terms of applications, the overall Control Cable Market is segmented into bulk handling equipment, marine, road transport, motor sport, agriculture, and construction plant. On the basis of regions, the worldwide industry is divided into Asia Pacific, North America, Europe, the Middle East & Africa. Asia Pacific is anticipated to expand robustly over the forecast period because of substantial demand from developing economies. India is a very lucrative market in this region because it has a large pool of manufacturers actively engaged in the production of specialized control cables. Technological developments coupled with innovation will be a cornerstone for regional growth. Prominent companies in the global control cable market are Texcan, Techno Flex Cables, Orient Cables, Prysmian, General Cable Technologies Corporation, and Nexans.
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