PLTC Instrumentation Cable Market Size By Type (Overall Shielded Pairs/Triads, Individual and Overall Shielded Pairs), By Application (Oil & Gas, Chemical, Process Automation, Manufacturing), & Forecast, 2024 – 2032

PLTC Instrumentation Cable Market Size

PLTC Instrumentation Cable Market Size in 2023 was valued at USD 2.7 billion and is estimated to grow at a CAGR of 7.6% by 2032. This market is experiencing robust growth due to increasing demand across diverse industries such as oil & gas, chemical, process automation, and manufacturing. These end use industries are growing enormously across the world. For instance, in 2022, global crude oil production amounted to about 4.4 billion metric tons. The figure peaked in 2018 when oil production worldwide reached nearly 4.5 billion metric tons.
 

The rise in automation and instrumentation needs within industrial settings has propelled the demand for reliable signal transmission. Therefore, the utilization of such PLTC instrumentation cable has been significantly increased in last decade. As industries embrace advanced technologies for improved efficiency and precision in their operations, there is a crucial need for automation. This surge in automation and instrumentation needs is a key driver for the expanding market of PLTC Instrumentation Cables.
 

COVID– 19 Impact

The instrumentation cable industry faced both challenges and opportunities following the COVID-19 pandemic. Initially, the industry experienced disruptions in the supply chain, production, and project timelines due to lockdowns and restrictions. However, as industries adapted to new norms, there was an increased emphasis on automation, remote monitoring, and data-driven processes, boosting the demand for PLTC instrumentation cables.
 

PLTC Instrumentation Cable Market Trends

The growing global demand for energy and the increasing adoption of advanced process control systems are driving the expansion of the PLTC instrumentation cable market. In the energy sector, particularly in oil & gas, there is a heightened need for efficient and reliable signal transmission in control and monitoring systems. Moreover, market players are enhancing the functionalities of automation control systems to cater to various industries, including transportation, oil & gas, process automation and chemical. A notable collaboration occurred in March 2021 when Suez, an American water-service company, and Schneider Electric joined forces to establish a joint venture focused on delivering cutting-edge digital solutions for water cycle management. The partnership aims to leverage SUEZ's technical proficiency in the water industry. Thus, rising requirement of automation and process control systems are creating landscape for PLTC instrumentation cable market worldwide.
 

PLTC Instrumentation Cable Market Analysis

PLTC instrumentation cable market is categorized into overall shielded pairs/triads and individual & overall shielded pairs based on type. The overall shielded pairs/triads hold the largest market share of more than 60% in 2023 primarily due to its excellent shielding capabilities. The increased demand for reliable signal transmission in industrial environments, such as oil & gas, chemical, and manufacturing, propels the preference for overall shielded configurations. The widespread adoption of overall shielded pairs/triads reflects the industry's recognition of their effectiveness in ensuring secure and interference-free data transmission, thereby securing the largest market share.
 

Based on application, the PLTC instrumentation cable market is segmented into oil & gas, chemical, process automation, manufacturing, and others. The process automation segment is growing with a CAGR of over 6.5% by 2032 mainly due to its increasing technological integration in the automation industry. The industry's focus on enhancing operational efficiency, monitoring, and control through advanced instrumentation contributes to the significant growth of PLTC cables within this segment. Moreover, Government-backed initiatives and policies advocating for the digitization of manufacturing facilities are fueling the widespread adoption of industrial control automation solutions in the region. For instance, in the "Made in China 2025" initiative, wherein the Chinese government has established a five-year smart manufacturing development goal, aiming to digitize 70% of the country's large enterprises.
 

The North America PLTC instrumentation cable industry is anticipated to reach more than USD 1 Billion by 2032. This growth will be witnessed primarily due to the continuous advancements in technology and the widespread adoption of smart technologies in infrastructure and industrial applications in North America. Cable companies in the North America are notably expanding their business, creating a massive scope for wire and cable industry to grow in the region. For instance, in June 2023, Shawcor Ltd. has disclosed plans for the expansion and improvement of its Connection Technologies segment that involves the establishment of two new operational facilities in the United States and Canada. The strategic move aims to replace the Company's previous manufacturing site in the Greater Toronto Area. With the expanding IoT (Internet of Things) landscape and the integration of sensors and devices in industrial processes further drive the demand for reliable signal transmission cables like PLTC in North America.
 

PLTC Instrumentation Cable Market Share

Prysmian Group dominates the PLTC instrumentation cable industry primarily due to its commitment to innovation, high-quality products, and a comprehensive range of offerings tailored to diverse industrial needs. With a global presence and extensive research and development capabilities, Prysmian consistently introduces advanced solutions that meet evolving industry standards.
 

The major companies are focusing on marketing strategies, technological advancements, brand recognition and economies of scale to meet the competition prevailing in the industry. The key industry market players include:^:

• ABB
• Belden Inc.
• CommCsope
• Elseweddy Electric
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Hellenic Group
• Helukabel GmbH
• Kabelwerk Eupen AG.
• Lapp Group
• Leoni AG
• LS Cable & Systems
• Nexans
• NKT A/S
• Polycab
• Prysmian Group
• Shawcor
• Sumitomo Electric
   

PLTC Instrumentation Cable Industry News

• In December 2022, Shawcor extended its reach into the nuclear, aviation, and other industrial wire & cable markets through the procurement of Kanata Electronic Services Ltd. The wire & cable portfolio will lead to significant scope for vertical integration and market development over the next few years. The company’s current capabilities will accelerate strategic development objectives in the key market categories & geographies.
   
• In November 2019, Sumitomo Electric Industries Limited introduced S-FREE, a new brand of insulated wires and traveling cables in electric tools and instrument panels. The company branded related materials under the name S-FREE to improve the development & deals of traveling cables and protected wires in electric and board handled by the Industrial Wire & Cable Division.
   

The PLTC 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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PLTC Instrumentation Cable Market, By Type, 2019 – 2032 (‘000 Tonnes, USD Million)

• Overall Shielded Pairs/Triads
• Individual and Overall Shielded Pairs

PLTC Instrumentation Cable Market, By Application, 2019 – 2032 (‘000 Tonnes, USD Million)

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

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

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • UK
  • France
  • Netherlands
  • Italy
  • Spain
  • Germany
  • Russia
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Argentina
  • Peru