The coaxial cables market comprises of sales of coaxial cables & related services. Coaxial cable is a type of cable that has an inner conductor, which is covered by an insulating layer and surrounded by tabular conducting shield. Coaxial cables are used for transferring data & radio frequency over distribution network. This design helps the coaxial cables to provide protection to the signal being carried from external electromagnetic interference. Coaxial cable is widely used in cable television industry, telephone service providers, military & aerospace, and other industries. Due to its extensive range of applications, there is a massive demand for coaxial cables in the market
According to study, “Coaxial Cables Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global coaxial cables market are General Cable Technologies Corporation., LS Cable & System Ltd, Belden Inc., Allied Wire & Cable, Inc, TE Connectivity., Infinite Electronics International, Inc, Prysmiangroup, Coleman Cables & Wire, Nexans, Alpha Wire, Kingsignal Technology Co., Ltd., Shenyu Communication, Hengxin Technology Ltd., Trigiant Group Limited. The key players are majorly focusing to sturdy-up the networks related to sales. The reason behind this is to make sure that a wide consumer pool can be tapped into. Other key strategies that global coaxial cable market players often put to use are mergers & acquisitions, partnerships & collaborations, and focusing on technology advancement.
Based on type, coaxial cables market is segmented as RG-6, hardline, radiating, triaxial cable and others. Based on application, market is segmented as video distribution, internet data transfer, radio frequency and others. Video distribution segment holds major share in global market owing to increase in popularity of video on demand (VOD), over the top (OTT) facilities, and internet protocol. In addition, based on end-user, market is segmented as military & aerospace, cable television industry, telephone network operators, internet service providers, communication equipment manufacturers and others. The internet service provider segment is expected to witness higher growth rate due to growth in number of internet service providers during the forecast period.
The coaxial cables market is driven by growth in technological advancements, followed by increase in IT & telecom spending and low installation costs. However, raw material price and substitutes may impact the market.
Based on geography, the North-American region dominates the global coaxial cables market owing to massive demand for internet that is high speed, and also allows for faster downloads even of the very large files. The Asian-Pacific and European regions are likely to witness higher growth rate due to huge demand arising from certain nations such as India, China, and Japan over the forecast period. It is anticipated to witness higher growth rate as a result of growth in economic development coupled with increase in investment from the government in the telecommunication and broadband sector during the forecast period. The global coaxial cables market was valued at US $29.82 billion in 2019 and it is estimated to grow at a compound annual growth rate (CAGR) of 3.47% and reach US $34.17 billion by 2023.
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Ankur Gupta, Head Marketing & Communications