Control cable market size is forecast to experience substantial growth prospects from 2016 to 2023, according to a study by Global Market Insights Inc. Surging significance in numerous industry sectors such as automation and process control systems is likely to propel demand. U.S. control cable market share is anticipated to record considerable growth rates over the forecast period.
These are mainly designed to be used as interconnecting cable in various industry applications. Increasing demand for these products from the building & construction industry as well as rail & transport networks is likely to drive control cable market growth over the next seven years.
Key product types include CY/screened flexible, YY/unscreened/unshielded, and SY/shielded flex cables. CY product types provide interference-free transmission applications and are ideally deployed for space saving installations. They protect the outer layer from mechanical stress and external electromagnetic influences and are used to interconnect cables for controlling, measuring, and regulating the control equipment for assembly lines, office machines & systems for data processing and production. The application ranges from conveying and transport systems, servo drives to electromagnetic interference (EMI) critical environment.
On the basis of energy chain, the industry can be segregated into PUR, PVC, and TPE. PVC (Polyvinyl chloride) cables have outer jacket covering. PUR (Polyurethane) have PUR outer jacket and have minimum bending radius of 5 to 12.5 x cable diameter. TPE (Thermoplastic Elastomers) have TPE outer coating and minimum bending radius ranges from 4 to 5 x diameter.
Escalating demand from specialized applications such as marine, agricultural, construction plant, bulk handling equipment, motor sport, and road transport industries is predicted to positively impact control cable market size from 2016 to 2023.
Asia Pacific is expected to witness substantial growth. Increasing demand for these products from emerging economies is likely to drive regional growth. India control cable market size is forecast to be one of the most attractive regions owing to existence of numerous independent manufacturers that specialize in manufacturing and designing of products. Product innovation accompanied by technological advancements across various segments is predicted to positively impact industry growth over the next seven years.
