Prysmian Group (Italy) and Nexans S.A. (France) are Leading Players in the Fire-Resistant Cable Market
The global fire-resistant cable market size is projected to grow from USD 1.8 billion in 2021 to USD 2.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast year. According to Nexans S.A., one of the leading electrical & electronic cable manufacturer, “Fire resistant cables ensure integrity of function during a fire by enabling the security systems (video surveillance, smoke ventilation, and audio alarms, amongst others) to continue functioning for a certain time after the fire has started. These cables are an essential component of any alarm circuit. During fires, buildings should remain functional to help in the evacuation process. People’s safety is the priority: fire safety equipment like warning systems, smoke detector, smoke extractor, emergency exits, and fire lighting equipment are key and must remain functional.
The fire-resistant cable market has thousands of companies which thrive in their domestic market. A few of the major players are, Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), Leoni AG (Germany), and LS Cable & System Limited (South Korea), and Elsewedy Electric Company (Egypt), among others. These players have adopted various growth strategies, such as acquisitions, investments, expansions, agreements, collaborations, and new product developments, to increase their market shares and enhance their product portfolios.
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Acquisition accounted for the largest share of all the strategic developments that took place in the fire-resistant cable market between 2016 and 2021. Key players such as Prysmian Group (Italy), Nexans S.A. (France), NKT Group (Denmark), and LS Cable & System Limited (South Korea), adopted these strategies to enhance their business, market presence, to develop new products and meet consumer demand.
The Prysmian Group is an Italian manufacturer which specializes in the production of electrical cables for the use in energy and telecommunication sectors, and for optical fibres. The company is a leader in the fire-resistant cable market and has acquired General Cable Corporation (US), a key manufacturer and distributor of cable & wire, in 2017. This acquisition has enhanced and broaden the product portfolio as well as customer base of Prysmian Group for fire-resistant cables globally. The company is strategically well placed and has a strong customer base across the globe. It has a strong and extensive product portfolio of fire-resistant cables. It has an extensive global reach, strong market position, and stable revenue generation.
Nexans S.A. is one of the pioneers in cable industry and offers high brand value by offering premium and high-quality fire-resistant cables. Nexans S.A. has a wide geographic presence with offices across the world and focuses on developing innovative products and solutions in the fire-resistant cables market due to its strong technical expertise in cable-related product markets. The company has a strong financial background and invests large amounts in R&D activities. Furthermore, it has its industrial footprints in 38 countries, 98 production sites and logistic centers, with sales presence worldwide.
Related Reports:
Fire-Resistant Cable Market by Insulation Material(EPR, LSZH, PVC, XLPE), End-use Industry(Automotive & Transportation, Building & Construction, Energy, Manufacturing), and Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026
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