Silicone Rubber Cable Market Share, Growth & Forecast [2030]

Report Description

The global silicone rubber cable market size was valued at USD 3,843.4 Million in 2020 and is projected to reach USD 5,341.5 Million by 2028, expanding at a CAGR of 4.6% during the forecast period. In terms of volume, the market is estimated to expand at a CAGR of 3.4% between 2021 and 2028. Silicone rubber cable is multiple tinned copper conductors, which are built-in strands.

The sizes of silicone rubber cable range from 2 to 20 American Wire Gauge (AWG) and has a maximum voltage of 600 volts. This type of cable is suitable for AC rated voltage of 0.6/1kv and for mobile electrical connection cable and fixed laying power transmission. The demand for silicon rubber cable is projected to rise due to its characteristics such as resistance to corrosive gas, acid, alkali, water, cold, and heat radiation.

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Silicone Rubber Cable Market Dynamics

The global silicone rubber cable market is anticipated to grow due to the rise in urbanization in developing countries. Moreover, growing number of IT facilities and data centers for high level of security, availability, and affordable connectivity of IT infrastructure is anticipated to boost the market during the forecast period. The market is facing unprecedented challenges due to high availability of alternative substitutes and operational cost.

These factors are expected to hamper the market in the coming years. However, growing demand for power worldwide is expected to create opportunities in the market.

Silicone Rubber Cable Market Segment Insights

Types Segment Analysis

An electrical cable is an electrical unit that consists of multiple numbers of independent conductive wires. The wires which are within the cable are considered to have solid core, braided, stranded, or a combination of solid core, braided, and stranded. Different kinds of electric cable are fiber optic, multiple conductors, ribbon, unbalanced coaxial, shielded twin lead, twin lead, twisted pair, and paired cable. Moreover, an electric cable made up of silicone rubber does not catch fire, unlike common organic polymers.

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Submersible pump cables are considered to be specialized products for the use of submersible pumps in a deep well or in harsh conditions. The cable of the submersible pump is made in single or multiple conductor types and is either round or flat cross-section. The use of silicone rubber cable is growing in the submersible pump, as it provided safety, energy efficiency, and reliability.

Submarine cable is called undersea or subsea cable. Submarine cables are commonly used in fiber optic infrastructure. These cables are laid directly in deep ocean floors or in the sea but nearer to the seashore, these cables are buried under the seabed for protection. The submarine cables are used in many fields to send data around the world such as research institutions, content providers, governments, multinational corporations, mobile operators, and telecom carriers.

Applications Segment Analysis

In terms of applications, the silicone rubber cable market is segregated into electrical infrastructure, metallurgy and petrochemical industry, railway, automotive, and others. Silicone rubber cable is extensively used in the area of the electrical infrastructure, as it is considered have resistances to high temperatures, good mechanical properties, and fast extrusion. Furthermore, silicone rubber cables do not create toxic waste in the event of fire due to which its use is rising in the electrical infrastructure segment.

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Regional Analysis

Based on regions, the global silicone rubber cable market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in Asia Pacific is anticipated to hold a key share of the silicone rubber cable market, followed by Europe, owing to strong industrialization and increasing focus on using improved and efficient products. Moreover, the market in Europe is anticipated to expand at a CAGR of over 4.8% during the forecasted period owing the growing demand for renewable power and rising investment in grid infrastructure.

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Key Benefits for Industry Participants & Stakeholders

• In-depth analysis of the global silicone rubber cable market
• Historical, current, and projected market size in terms of value and volume
• Potential & niche segments and regions exhibiting promising growth covered
• Industry drivers, restraints, and opportunities covered in the study
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Neutral perspective on global silicone rubber cable market performance