Asia Pacific Instrumentation Cable Market Size - By Product (PLTC Cable, ITC Cable, TC Cable), By End Use (Oil & Gas, Chemical, Process Automation, Manufacturing) & Forecast, 2024 – 2032

Asia Pacific Instrumentation Cable Market Size

Asia Pacific Instrumentation Cable Market size was valued at USD 3 billion in 2023 and is estimated to grow at a CAGR of 8.5% between 2024 and 2032, owing to expanding industrialization, infrastructure development, and technological advancements. Rising demand from sectors such as oil & gas, power generation, and manufacturing is driving the market forward. Additionally, the region's rapid urbanization and increasing investments in automation further fuel demand for instrumentation cables.
 

Government initiatives promoting renewable energy and smart grid projects also contribute to market expansion at significant pace. With a burgeoning economy and growing emphasis on efficiency and reliability in industries, the Asia Pacific market is poised for sustained growth in the foreseeable future. The industry is propelling enormously due to rising demand for oil and gas worldwide. For instance, according to BP Statistical Review of World Energy 2023, in 2022, global crude oil production amounted to about 4.4 billion metric tons.
 

Asia Pacific Instrumentation Cable Market Trends

The expansion of energy infrastructure across the region, including the development of power plants and transmission networks, is driving the demand for instrumentation cables to ensure efficient monitoring and control systems. The growth in oil and gas exploration and production activities in countries like China, India, and Indonesia is fuelling the need for robust instrumentation cables for reliable data transmission and monitoring in harsh environments.
 

Moreover, the rising demand for process control across various industries including manufacturing, chemical, and pharmaceutical is increasing the requirement for high-quality instrumentation cables to facilitate precise measurement and control of industrial processes. These factors collectively contribute to the growing market for instrumentation cables in the Asia Pacific region.
 

Asia Pacific Instrumentation Cable Market Analysis

The PLTC Cable segment across the market is poised to exceed USD 2 billion by 2032, on account of its versatility and reliability in transmitting signals accurately in industrial environments. Its flame-retardant properties, flexibility, and resistance to various environmental factors make it indispensable for ensuring smooth operation of control systems and instrumentation in diverse applications across the region, driving its demand and significance.
 

The Asia Pacific instrumentation cable market from oil & gas segment is anticipated to expand at 8.5% CAGR through 2032, due to rising demand for energy resources. The segment holds significant importance within the instrumentation cable industry because of its pivotal role in facilitating the operations of critical infrastructure, such as refineries, drilling rigs, and pipelines. With increasing exploration and production activities in the region, there's a heightened need for reliable instrumentation cables to facilitate data transmission and control systems. This growth is driven by the sector's emphasis on efficiency, safety, and regulatory compliance, fostering market expansion.
 

The China instrumentation cable market is slated to reach USD 2.1 billion by 2032 since it boasts rapid industrialization and urbanization, driving demand for infrastructure projects and industrial automation. The region is a hub for the electronics and manufacturing industries, necessitating sophisticated instrumentation systems and it offers a vast pool of suppliers, facilitating cost-effective production and distribution across the region.
 

Asia Pacific Instrumentation Cable Market Share

Players including Prysmian Group, Belden Inc and Nexans hold a significant share in this industry, offering a wide array of products tailored to meet diverse application needs. Their dedication to innovation ensures the production of high-quality, cutting-edge products that adhere to industry standards. Their emphasis on customer satisfaction through customized solutions and exceptional service further strengthens their position in the market.
 

Asia Pacific Instrumentation Cable Market Companies

Some of the major market players include:

• ABB
• Anixter
• Allied Wire and Cable
• Belden Inc.
• Elseweddy Electric
• Furukawa Electric Co. Ltd.
• Fujikura Ltd.
• Hellenic Group
• Helukabel GmbH
• Kabelwerk Eupen AG.
• Leoni Ag
• LS Cable & Systems
• Lapp Group
• NKT A/S
• Nexans
• Prysmian S.P.A
• Polycab
• Relemac Technologies Pvt. Ltd.
• Ravicab Cables Private Limited
• Sumitomo Electric
• Suraj Cables
• Shawcor
   

Asia Pacific Instrumentation Cable Industry News

• In April 2023, Sumitomo Electric Industries, Ltd. intends to inaugurate a new facility in Scotland, United Kingdom, aiming to meet the rising demand for wires and cables within the European market.
   
• In September 2023, Southwire Company, LLC, and Resideo Technologies, Inc. reached a firm agreement wherein Resideo would divest its Genesis Wire & Cable business to Southwire. Genesis Wire, headquartered in Pleasant Prairie, Wisconsin, specializes in the production of low-voltage wire and cable.
   

The market research report for instrumentation cable in Asia Pacific includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Tonnes” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Product

• PLTC Cable
• ITC Cable
• TC Cable
• Others

Market, By End Use

• Oil & Gas
• Chemical
• Process Automation
• Manufacturing
• Others

The above information has been provided for the following countries across the regions:

• China
• India
• Japan
• South Korea
• Australia