Coaxial cables market forecast includes COVID-19 impact and recovery assessment

The "Coaxial Cables Global Market Report 2020-30: Covid 19 Impact and Recovery" report has been added to the offering of industry analyst Research and Markets.com (Dublin, Ireland).

According to the analyst, the global coaxial cables market was worth $29.82 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 3.47% and reach $34.17 billion by 2023. North America is expected to be the fastest growing region in the coaxial cables market during the forecast period.

The new report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, and trends and strategies for this market. The analysis traces the market's historic and forecast market growth by geography, places the market within the context of the wider coaxial cables market, and compares it with other markets.

The report segments the global coaxial cables market by type for variants of hard-line cable; triaxial cable; and twin axial cable. The report's summary notes that throughout its historic period, the use of coaxial cables in the cable broadband industry globally contributed significantly to the market's growth.

Per the analyst's report summary: "Cable broadband offers a variety of benefits due to its affordability and innovations such as high speed, enhanced reliability and high download peak times. According to a study, in 2017, in India, the cable TV industry connected over 100 million households. [Cable broadband] has enormous coverage and connects over 1500 cities, deep into urban and rural areas with last-mile connectivity. The [segment's] multiple system operators (MSOs), operating multiple cable TV systems, give access to the majority of homes via fixed line coaxial cable, which can be easily upgraded to carry high-speed broadband. Use of coaxial cables in the cable broadband industry drove the coaxial cables market [in its historic period]."

Going forward, the growing use of fiber-optic cables is expected to limit the growth of the coaxial cables market, finds the research. The analysis notes that in 2018, in India, fiber-optic cables consumption increased by a CAGR of 27% over the previous three years.

Meanwhile, the analysis notes that many cable manufacturing companies are increasing fire-resistant coaxial cable production capacities to keep pace with increasing demand from the construction industry. Fire-resistant cables are usually required in emergency operations in critical electrical circuits for reducing fire transmission, ensuring highest level of safety. These cables have a sheath layer to prevent the emission of smoke and toxic gases during fire incidents. Such cables are designed for wiring in large residential, industrial and manufacturing buildings. In 2019, the report notes that some of the major firms that sold fire-resistant cables included Prysmian Group, Nexans, TPC Wire and Cable, Cavicel, and Cleveland Cable.

Significantly, the Coaxial Cables Global Market Report 2020-30 provides industry strategists, marketers and senior management with critical information they need to assess the global coaxial cables market as it emerges from the COVID-19 shut-down. The report covers the impact and market recovery trajectory of COVID-19 as regards the market for all global regions, key developed countries and major emerging segments. The report's trends and strategies section analyzes the shape of the market as it emerges from the crisis, and suggests how companies can grow as the market recovers.

Companies mentioned in the report include: