Prysmian Group (Italy) and Nexans S.A. (France) are the Key Players in the Fire Resistant Cable Market
The global automotive fasteners market is projected to grow from an estimated USD 21.45 billion in 2018 to USD 25.30 billion by 2025, at a CAGR of 2.39%. Asia Pacific is estimated to be the largest market for automotive fasteners during the forecast period. The Asia Pacific automotive fastener market is estimated to be USD 10.43 billion in 2018 and is projected to reach USD 12.42 billion by 2025. The increasing production of vehicles in China, Japan, and India and the growing demand for electric vehicles, especially in China and Japan, are expected to drive the automotive fastener market in the region. North America is expected to be the second largest market for automotive fasteners with an estimated market size of USD 5.57 billion in 2018.
Prysmian Group (Italy), Nexans S. A. (France), General Cable Corporation (US), NKT Group (Denmark), Leoni AG (Germany), LS Cable & System Ltd. (South Korea), EL Sewedy Electric Company (Egypt), Universal Cable (M) Berhad (Malaysia), and Tratos Limited (UK), among others are key players in the fire resistant cable market. These companies are focused on investing in plant capacity expansions and acquisitions. They also have the potential to broaden their product portfolios and compete with other key market players.
Prysmian Group (Italy) is a leading provider of cables and system solutions to the energy and telecom sectors. The company operates through 4 segments, namely, energy products, energy projects, telecom, and oil & gas. It offers high voltage cables through its energy projects operating segment.
It also focuses on increasing the production efficiency in the lower value-added sector by adopting more contracts & agreements. In December 2017, it has received a contract from the Filipino grid operating company, namely, the National Grid Corporation of the Philippines (NGCP) for 2 submarine power cable connections between the islands of Cebu and Negros in the Philippines
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The company also adopted acquisitions as one of its key strategies to expand its regional presence. For instance, in 2016, it completed its agreement to acquire Neustadt which helped Prysmian expand its presence in Europe and expand its product portfolio catering to data centers and data transmission. Furthermore, it acquired the assets of Shen Huan Cable (China), to aim at the independent growth strategy in China. It also acquired the copper data cables business of Corning in Germany, thus, expanding its business globally through inorganic growth strategies.
Nexans S.A. (France) is a global cabling products as well as services provider within the industrial cables market. This France-based company has an exhaustive product portfolio, which encompasses a wide range of industrial applications. The company strongly focuses on research and spent approximately USD 95.40 million in 2016 on R&D to enhance its competitive advantage. It is focusing its R&D efforts on energy transition, smart grids, and security and safety. It also aims to continuously expand its comprehensive product portfolio to perpetuate its strong presence in the industrial cables market. Huge R&D investments and a large number of patents filed by the company every year exemplifies the company’s strong inclination toward continuous product innovation. The company’s electric transmission and distribution segment accounted for more than 40% of its total business in 2017. It operates its sales offices in 40 countries including Australia, Belgium, Brazil, India, Russia, the Netherlands, and the UK.
Related Reports:
Fire Resistant Cable Market by Insulation Material (XLPS, LSZH, PVC, EPR), End-Use Industry (Building & Construction, Automotive & Transportation, Manufacturing, Energy), and Region (APAC, North America, Europe, MEA) - Global Forecast to 2023
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