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Europe Instrumentation Cable Market Size
Europe Instrumentation Cable Market was valued at USD 1.3 billion in 2023 and is estimated to grow at a CAGR of 7.4% during 2024 to 2032. An instrumentation cable is a type of electrical cable specifically designed for use in industrial instrumentation, control, and communication systems. These cables are used to transmit signals between various instruments, sensors, controllers, and monitoring devices in industrial environments such as manufacturing plants, refineries, power plants, and chemical processing facilities.
Growing emphasis on digitalization and automation across industries, will drive the demand for high-quality instrumentation cables to ensure reliable data transmission and control signals. Increasing investments in oil and gas energy projects will boost the demand for instrumentation cables in power generation applications. Rising smart infrastructure projects in Europe, including smart cities and smart manufacturing, will fuel the demand for advanced instrumentation cables capable of supporting complex communication protocols.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 1.3 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.4% |
| 2032 Value Projection: | USD 2.6 billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 132 |
| Segments covered: | Product, End Use, & Countries |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Europe Instrumentation Cable Market Trends
Ongoing expansion of energy infrastructure and increased oil & gas exploration and production activities will boost the market growth. Expansion projects including new power plants, refineries, and pipelines require extensive instrumentation for monitoring, data transmission, and control purposes, which will stimulate the product demand. Moreover, growing demand for energy along with expansion of related infrastructure will directly contribute to the product penetration.
Europe Instrumentation Cable Market Analysis
According to product, the PLTC instrumentation cable segment is likely to exceed USD 9 billion by 2032. Increasing demand for reliable and efficient communication systems across various industries including manufacturing, energy, and infrastructure will stimulate the product demand. The cables further offer enhanced flexibility, durability, and resistance to environmental factors, making them an ideal choice for instrumentation applications. Additionally, advancements in technology and infrastructure development will drive the business outlook.
Based on End Use, the process automation segment is poised to witness more than 7.4% CAGR through 2032, on account of its significant reliance on sophisticated monitoring and control systems for safe and efficient operations. Instrumentation cables play a pivotal role in transmitting crucial data signals within this industry, supporting functions comprising process control, measurement, and automation. Further, stringent safety standards and complex infrastructure requirements inherent in operations will augment the demand for high-quality instrumentation cables, thereby contributing to high market share in the region.
UK instrumentation cable market is anticipated to surpass USD 1 billion by 2032 owing to robust industrial infrastructure, particularly in sectors including manufacturing, and energy. Stringent regulatory standards necessitate high-quality instrumentation cables, thereby fostering innovation and investment leading to market growth. Moreover, advanced technological expertise and strong research capabilities across the economy contribute to product development, leading to market expansion across the region.
Europe Instrumentation Cable Market Share
Companies like Prysmian Group, Belden Inc, and Nexans command a notable presence in this sector, providing an extensive range of products designed to fulfill various application requirements. Their commitment to innovation guarantees the development of top-tier, state-of-the-art products that comply with industry norms. Their focus on delivering tailored solutions and outstanding service to ensure customer contentment further solidifies their market standing.
Europe Instrumentation Cable Market Companies
Some of the major key players operating in the Europe instrumentation cable industry include:
- ABB
- Belden Inc.
- CommScope
- Elsewedy Electric
- Furukawa Electric Co. Ltd.
- Fujikura Ltd.
- Helukabel GmbH
- Hellenic Group
- Kabelwerk Eupen AG.
- Leoni Ag
- Lapp Group
- LS Cable & Systems
- NKT A/S
- Nexans
- Prysmian Group
- Polycab
- Sumitomo Electric
- Shawcor
Europe Instrumentation Cable Industry News
- In April 2023, Sumitomo Electric Industries, Ltd. inaugurated a new facility in Scotland that will play a crucial role in the ScotWind and INTOG leasing rounds, which has the potential to add 30GW of offshore wind generation capacity. The project will further support the rising demand for wires and cables across the European market.
- In September 2023, NKT A/S, announced its contract of 230 kV AC HV export power cable system designated for the Wind Park project located at Baltic Power Offshore in Poland. The project holds a capacity of up to 1.2 GW and is valued at approximately USD 130 million.
This Europe instrumentation cable market research report 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:
- UK
- France
- Netherlands
- Italy
- Spain
- Germany
- Russia
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