Global LSHF cable market forecast to $6.4 billion at 10.7% CAGR thru 2027

According to Research and Markets, "Growth in recent years in the low smoke halogen free cable market is primarily driven by the increasing [global] regulations on fire control and implementation of fire retardant equipment especially in buildings that ar

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The "Low Smoke Halogen Free Cable Market to 2027 - Global Analysis and Forecasts by Type; Insulation Material; Application" report has been added to ResearchAndMarkets.com's offering. The Dublin, Ireland-based analyst reports that the global low smoke halogen free cable market accounted for US $2.49 billion in 2018, and is expected to grow at a CAGR of 10.7% over the forecast period from 2019-2027, to account for US$6.44 billion by 2027.

The North American region is expected to garner the highest market share in the low smoke halogen free cable market over the forecast period. The report's executive summary notes that growth in recent years in the low smoke halogen free cable market has primarily been driven by the increasing regulations on fire control and implementation of fire retardant equipment especially in buildings that are prone to fire hazards.

"It has been observed that in a majority of the developed as well as developing economies, stringent fire regulations have been laid with regards to the construction of new buildings in order to ensure safety for occupants," writes the analyst. "Countries such as US, Australia, Canada, Mexico, UK, Germany, Spain, Italy, and India have laid down stringent regulations with regard to fire safety. Also, the concerned authorities have laid heavy punishments in case of violence of the codes. Virtually every building, process, service, design, and installation is affected by NFPA's codes and standards. These codes and standards, reflect changing industry needs and evolving technologies, supported by research and development, and practical experience. Diverse regulations across the globe in different regions have together driven the low smoke halogen free cable market."

As further noted by the report's summary:

-- "In North America, it is mandatory for the manufacturers of different industries to be familiar with the International Electrotechnical Commission Explosive (IECEx) Certification or ATEX Directive. The electrical equipment which is to be used in harsh and risky environments, North America and Canada are subjected to certify by a Nationally Recognized Testing Laboratory (NRTL). The low smoke halogen free cable market in North America has dominated the global market owing to these stringent regulations by the authorities. Similar to North America, there have been regulations implemented in other countries across the globe that have contributed to the positive growth of the low smoke halogen free cable market."

-- "Laws and measures made for the safety of the workforce would have a positive impact on the deployment of electrical fittings including cables. In China, CNEx certification is needed for gaining access for HazLoc products to the People's Republic of China. Also, in Taiwan, the Safety Label for Ex equipment specifies conformity to Taiwan national standards (CNS) and achievement of official registration scheme by Taiwan Ministry of Labor. Currently, it is an obligatory requirement that all Ex equipment is mandatory to obtain a Safety Label prior to import, sales, distribution, installation or operation in the country. European Union (EU) has formulated the Construction Product Regulation (CPR)."

-- "The regulation proposed by the EU is laid to control the limits of dangerous substances in the materials which is used during construction. This regulation is applied to all products which are to be fixed permanently in the construction. In respect to cables, the regulation applies to telecommunication, power, and control cables. Moreover, now it has become a mandate for all the installed cables to comply with the CPR regulation. The mandate of such rules and regulations have been driving the adoptions of low smoke halogen free cable market globally."

Companies profiled by the report include:

BASF SE

Borealis AG

Dow DuPont Inc.

Fujikura Ltd.

Hitachi Ltd.

Nexans SA

Prysmian Group

Mexichem Specialty Compounds

Shanghai Kaibo Compounds Factory Co., Ltd.

Sumitomo Electric Lightwave Corp.

For more information, visit https://www.researchandmarkets.com/r/d6tokb

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