Optical fiber, plastic conduit market on track for 20.6% CAGR thru 2026: Report

Feb. 26, 2020
"The rising demand for single-mode optical fibers is expected to grow during the forecast period, as the world is facing a shortage of single-mode cabling," contends Research and Markets.

The "Optical Fiber & Plastic Conduit Market in Telecom & IT by Product: Global Opportunity Analysis and Industry Forecast, 2018-2026" report has been added to the offering of technology industry analyst ResearchAndMarkets.com (Dublin, Ireland). According to the report, the global optical fiber and plastic conduit market was valued at $4,151.2 million in 2018, and is projected to reach $11,779.9 million by 2026, growing at a CAGR of 20.6% from 2019 to 2026.

As stated by the report's executive summary: "The optical fiber industry is expected to provide promising growth prospects throughout the forecast period, owing to increase in investments and research undertaken by prominent optical fiber cable manufacturers in the industry to develop and upgrade the fiber optics technology application area. In addition, the plastic conduit systems market denotes a promising picture for future growth of efficient cable management. The recent business scenario has witnessed an upsurge in usage of cable conduit systems across commercial and industrial constructions. Companies are now adopting efficient techniques to provide consumers with innovated and cost-efficient products."

"The rising demand for single-mode optical fibers is expected to grow during the forecast period, as the world is facing a shortage of single-mode cabling. The main reason for this fiber shortage is the rise in fiber-to-the-home (FTTH) network projects, which had increased the fiber consumption by 46% of the whole world. Moreover, single-mode optical fiber cable offers numerous benefits, which includes high attenuation and dispersion, greater data-transmitting capabilities, usability within high-speed & large capacity networks, and others, which have been boosting its adoption among the end users. Furthermore, ongoing efforts to increase the penetration of telecom services in the emerging countries of the Asia-Pacific region are attributed to the increasing demand for single-mode cable in the region, which is opportunistic for the optical fiber and plastic conduit market."

"Factors such as widespread implementation of 5G, increasing adoption of fiber to the home connectivity, emergence of internet of things, and growing demand for highly secure and safe wiring systems are anticipated to be major drivers of the global optical fiber and plastic conduits market. However, high installation cost and complications in installation of optical fiber and plastic conduits, growing demand for wireless communication system, and increasing prices of raw materials act as major drivers hampering the market growth globally. Furthermore, technological advancements in fiber optic cables and plastic conduits, rising investments in optical fiber cable network infrastructure, and emergence of cable in conduit system offers lucrative opportunities to the market growth globally."

Optical fiber cable companies profiled by the research include: Corning Incorporated; Emtelle UK Ltd.; Fujikura Ltd.; Furukawa Electric Co., Ltd.; Hexatronic Group Ab; Sterlite Technologies Ltd.; The Kuhkenah Network (K-Net) Services; and Prysmian Group.

Plastic conduit company profiles include: Atkore International; Akg Group; Cantex Inc.; Dura-Line Holding, Inc.; and Prime Conduit.

For more information about the report, visit https://www.researchandmarkets.com/r/t9ghtl.

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