PLTC Instrumentation Cable Market Analysis

PLTC Instrumentation Cable Market Analysis

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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.