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PLTC Instrumentation Cable Market Trends

Report ID: GMI8306
Published Date: Feb 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market valuation of PLTC instrumentation cable was reached USD 2.7 billion in 2023 and is estimated to grow at over 7.6% CAGR from 2024 to 2032, driven by the increasing demand across diverse industries, such as oil & gas, chemical, process automation, and manufacturing.

The overall shielded pairs/triads segment held over 60% share of the PLTC instrumentation cable market in 2023 and is expected to record substantial growth through 2032, owing to the increasing need for reliable signal transmission in industrial environments.

North America PLTC instrumentation cable market size is projected to surpass USD 1 billion by 2032, due to the continuous advancements and the widespread adoption of smart technologies in infrastructure and industrial applications.

Some of the top PLTC instrumentation cable market players are ABB, Belden Inc., CommCsope, Elseweddy Electric, Fujikura Ltd., Furukawa Electric Co. Ltd., Hellenic Group, Helukabel GmbH, Kabelwerk Eupen AG., Lapp Group, Leoni AG, Nexans, NKT A/S, Polycab, Prysmian Group, Shawcor, and Sumitomo Electric.