Research Nester published a report titled “Sensor Cable Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers a detailed overview of the global sensor cable market in terms of market segmentation by detection mode, application, jacket type, connector type, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
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The global sensor cable market is projected to grow at a notable CAGR of ~8% over the forecast period, i.e., 2023 – 2035. The growth of the market can be accounted to factors such as the rising adoption of underground pipelines and hydraulic fracturing methods to extract oil, increasing awareness of safety protocols in various operations, and growing tendency toward product efficiency. The utilization of underground pipelines for water and gas supply for multiple households in urban areas is constantly growing, meanwhile, the sensor cables are being used to monitor the functionality of these pipelines. such factors are projected to influence the market growth positively.
The global sensor cable market is segmented on the basis of end-user industry into material handling, automotive, infrastructure, IT & telecommunication, oil & gas, and energy & utility. Out of these sub-segments, the automotive segment is projected to garner a notable share in the market over the forecast period on the back of ongoing new innovations in the latest automotive technologies, along with growing adoption of auto-driving vehicles.
Furthermore, the global sensor cable market by region is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is anticipated to witness robust growth during the forecast period owing to the high demand for electronics and power cable monitoring in the region. The electronic industry in the Asia Pacific region amounted to approximately USD 250 billion in 2020 and is estimated to reach about USD 380 billion during the forecast period.
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The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Surge in the Installation of Underground Pipeline for Oil & Gas Distribution Across the Globe to Boost the Growth of the Market
Around 650 oil pipelines were observed in 2020, while about 30 pipelines were under construction in the same year.
Once the pipeline is laid underground, it is difficult to examine any incidence later. In such circumstances, various types of sensor cables are utilized to figure out any leakage or other problems within the pipelines. As a result, the growing adoption of underground pipeline for various applications, is estimated to boost the market growth.
However, the presence of alternative technologies and the requirement for the high initial demand for investment are expected to operate as a key restraint to the growth of the global sensor cable market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global sensor cable which includes company profiling of SAB BRÖCKSKES GmbH & Co. KG, Schneider Electric SE, TE Connectivity Ltd., Belden Inc.,TTI, Inc., Lapp Group, Hans Turck GmbH & Co. KG, Baumer Holding AG, Beckhoff Automation GmbH & Co. KG, and TTK S.A.S. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global sensor cable market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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