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The rising construction activity around the world is one of the key reasons driving the metalclad cable market.

NEW YORK CITY, NEW YORK , UNITED STATES, July 14, 2023/EINPresswire.com/ -- In 2022, the global size of Metalclad Cables Market was USD 5.38 billion. It is projected to reach USD 7.41 billion by 2032, with a compound annual growth rate (CAGR) of 6.2% during the forecast period. The expansion of the market is primarily driven by the increasing demand for reliable and secure electrical wiring systems in residential, commercial, and industrial sectors.

Metalclad cables consist of aluminum or copper conductors wrapped in a protective metal covering, providing enhanced protection against fire, moisture, and physical damage. These cables are gaining popularity due to their advantages over traditional wire methods, including greater durability, flexibility, and cost-effectiveness. Additionally, the market is stimulated by the growing demand for energy-efficient electrical systems and the rising adoption of renewable energy sources.

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Metalclad Cable Market Segments:

The global metalclad cable market can be segmented based on product type, application, and region. In terms of product type, the market includes aluminum metalclad cables and copper metalclad cables. The applications of metalclad cables span across various sectors, including industrial, commercial, and residential.

According to the market report, the global metalclad cable market had a value of USD 5.38 billion in 2022, and it is expected to grow at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2022 to 2032. The revenue forecast for 2032 is estimated to reach USD 7.41 billion.

The historical data used for estimation covers the years 2020 and 2021, while the forecast period extends from 2022 to 2032. The quantitative units used in the report are in USD billion.

The report provides comprehensive coverage, including revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends in the metalclad cable market. The segments covered in the report include product type outlook, application outlook, and regional outlook.

The regional scope of the market analysis includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Metalclad Cable Market Strategic Developments:

In 2021, Nexans S.A. announced that it had won a contract worth €19 million from the French transmission system operator RTE to supply power cables for a new wind farm. The contract includes the supply of 140 km of high-voltage cable for the wind farm's offshore and onshore substations.

In 2020, Prysmian Group completed the acquisition of EHC Global's production and R&D activities in the field of elevators and escalator cables. The acquisition was aimed at expanding Prysmian's product portfolio in the elevator and escalator cables market.

In 2020, TE Connectivity Ltd. announced that it had signed a definitive agreement to acquire First Sensor AG, a German company that specializes in sensor technology. The acquisition was aimed at expanding TE Connectivity's sensor portfolio and strengthening its presence in the sensor market.

In 2020, Southwire Company, LLC announced that it had acquired Sumner Manufacturing Co., Inc., a manufacturer of material lifts, jack stands, and welding tools. The acquisition was aimed at expanding Southwire's product offerings in the construction industry.

Metalclad Cable Market Competitive landscape:

The global metalclad cable market is characterized by a high level of consolidation, where a few dominant players hold a significant market share. These key players employ various strategies such as mergers and acquisitions, strategic agreements and contracts, and the introduction of new products to solidify their position in the market. Among the notable players in the global metalclad cable market are General Cable Corporation, Southwire Company, LLC, Prysmian Group, and Nexans S.A. These companies play a vital role in shaping the industry landscape and driving innovation in the metalclad cable sector.

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