(MENAFN- America News Hour) Research Nester has released a report titled“Europe Fire Performance Cables Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis, and Porter's five force model.
Europe has one of the most stringent regulations being made applicable by the regulatory bodies in the region for different end user industries so as to help individuals with their safety, both at the workplace or at their residence. Owing to such a factor, there is a rising demand for fire performance cables that are adopted massively by the end user industries of different verticals for application across varied projects, as the fire performance cables have the characteristics of keeping up circuit respectability for a predefined timeframe during a fire.
Additionally, other factors, such as presence of several end user industries including manufacturing, automobile and others in the region, followed by the numerous construction activities lined up in the region as well as the characteristics of the fire performance cables, that help raise the adoption of such cables amongst various industry verticals are some of the factors anticipated to drive the growth of the Europe fire performance cables market.
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The Europe fire performance cables market is anticipated to achieve a CAGR of around 3% throughout the forecast period, i.e. 2019-2027. The market, which had a value of around USD 520 million in the year 2018, is thriving on account of rising awareness for good electrical wires that have the characteristics of fire resistance across end user industries, along with the rising adoption of fire performance cables in the end user industries. Moreover, the Europe fire performance cables market is anticipated to reach a value of around USD 680 million by the end of 2027 and further gain an absolute $ opportunity of around USD 140 million during the forecast period.
The Europe fire performance cables market is segmented by product type into fire rated or FR 30 minutes, FR 60 minutes and FR 120 minutes. Among these segments, the FR 30 minutes segment is estimated to expand at a CAGR of around 2.8% over the forecast period and grow by a growth rate of 1.2x over the forecast period., along with attaining an absolute $ opportunity of around USD 52 million during the forecast period. Moreover, the segment held a market share of around 40% in the year 2018. Additionally, the segment is also anticipated to cross a value of around USD 260 million by the end of 2027.
The Europe fire performance cables market is also segmented by end user into public & commercial building, automotive & transportation, manufacturing, energy and others. Among these segments, the manufacturing segment, which held a value of around USD 120 million and a market share of around 23% in the year 2018, is anticipated to gain an incremental $ opportunity of around USD 4.5 million in the year 2027 as compared to the previous year and grow with a CAGR of around 3% throughout the forecast period.
However, concerns for the impact on sales of the manufacturer of fire performance cables due to the high-end product cost is one of the major factors estimated to act as a barrier to the growth of the Europe fire performance cables market.
This report also studies existing competitive scenario of some of the key players of the Europe fire performance cables market, which includes profiling of several key players that are functioning both locally as well as globally. Moreover, several global players in the fire performance cables market are also providing their products and services in Europe to cater to the rising demand. Additionally, several small and mid-size players are also looking for options by expanding their existing product width and line to cater to the market in the region. On the other hand, several players in the Europe fire performance cables market are also investing heavily to develop advanced materials used for manufacturing fire performance cables.
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Europe Fire Performance Cables Market – Global Demand Analysis & Opportunity Outlook 2027” , analyses the overall Europe fire performance cables industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Europe fire performance cables market in the near future.
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