LSZH Cable For Energy & Utilities Market - Forecast(2024 - 2030)

Report Code: ESR 0548 Report Format: PDF + Excel

LSZH Cable For Energy & Utilities Market Overview

The market for LSZH Cable For Energy & Utilities Market is estimated to be $299.4 million in 2027 and is analyzed to grow at a CAGR of 3.1% during forecast period 2022-2027. In Canada, the trend towards industrial cables with LSZH features is anticipated to spur in the near future, as users strive to reap the benefits of thermoset compound and thermoplastic compound based LSZH cables over polyvinyl chloride (PVC) and ethylene propulene rubber (EPR) cables without sacrificing other essential cable characteristics such as electrical performance, dielectric strength, smoke emission and flame resistance. Increasing government initiatives, and investments to raise building and construction activities especially surrounding energy infrastructure, will further raise the usage of LSZH cables. Thus, this would act as a key factor influencing the market growth during the forecast period. In 2020, halt in several manufacturing activities owing to the COVID-19 pandemic widely impacted the growth of the LSZH Cable For Energy and Utilities industry. 

Report Coverage

The report: “LSZH Cable For Energy & Utilities Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the LSZH Cable For Energy & Utilities Market

By Type: Thermoset, Thermoplastic
By Voltage: Upto 1KV, 1.1-3.3kV, 3.4-6.6kV, 6.7-11kV, 11.1-33kV, Above 33kV
By End Use Industry: Power Generation, Utilities
By Core: Single Core, Multi Core
By Armor: Armored Cable, Non-Armored Cable
By Size: Upto 10mm2, 10.1-20mm2, 20.1-50mm2, 50.1-100mm2, 100.1-250mm2, 250.1-500mm2, Above 500 mm2
By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Australia and Others), and RoW (Middle East and Africa)

Key Takeaways

  • A multicore cable integrates numerous signals or power streams into a single jacketed cable. Analog and digital signals, as well as power distribution, can all be carried through multicore cables.
  • Non armored Medium Voltage cables can be used in the energy industry. Above ground, in open air, in conduit, direct buried, in underground duct, or suspended aerially with a messenger wire are all options. Underground and power feeders with voltages ranging from 5kv to 46kv are common applications.
  • Also, non armored cables are used for fixed wiring in ships and mobile and fixed offshore units where mechanical protection is not required (e.g. drilling rigs, oil platforms, and others).
  • Increasing usage of non armored cables over armored cables by several end use industries due to its low cost is estimated to drive the growth of the LSZH Cable For Energy & Utilities Market in the projected period.

LSZH Cable For Energy & Utilities Market, By Region, 2021

LSZH Cable for Energy and Utilities Market

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LSZH Cable For Energy & Utilities Market Segment Analysis – By Voltage

Upto 1kV cables dominated the LSZH Cable For Energy & Utilities Market with a share of 36.7% in 2021. The key factor driving the growth of the upto 1 kV market is the need for low voltage cables in the electrical power distribution system. Because of their current carrying capacity, upto 1kV cables are increasingly being used in the gas station, elevator, fire alarm system, public place, and others. Generally, stranded copper or aluminum conductors are used in the low voltage (upto 1kV) cables. Additionally, increasing investments in the grid modernization project will drive the need for low voltage (upto 1kV) cables for power distribution in the forecast period. For instance, Minister of Natural Resources Seamus O'Regan Jr. in June 2021 announced a US$964 million program to promote smart renewable energy and grid modernization projects that would reduce emissions by investing in clean energy technologies like as wind, solar, hydro, storage, geothermal, and tidal. Such initiatives will raise the need for LSZH cable with voltage upto 1kV in grid stations, which would further drive the growth of the industry.

LSZH Cable For Energy & Utilities Market Segment Analysis – By Type

Thermoplastic LSZH cables dominated the Canada LSZH cables market with a share of 78.0% in 2021. Thermoplastics can be melted and reshaped after being processed. Because of their excellent physical properties and ability to pass the most stringent flame tests, chlorinated thermoset jackets are commonly used in industrial applications. The demand for thermoplastics cables are rising, since thermoplastics are more environmental friendly than thermoset LSZH cable. Additionally, these cables use less energy, emit fewer pollutants during production, and can also be recyclable. In comparison to XLPE, they also provide operational benefits in the field. Thermoplastics are frequently easier to strip, making them more suitable for automated processing in high-volume applications. Increasing growth of thermoplastic LSZH cable due to its attractive properties is thus bolstering the growth of the Canada LSZH cable market growth.

LSZH Cable For Energy & Utilities Market Segment Analysis – By Geography

Asia-Pacific dominated the market by a market share of more than 35.9% in 2021 due to the rising demand of high-speed cables and connectors along with increasing investments in infrastructure development in countries such as India and China. In Countries such as India, China, Japan and so on, several renewable energy plants are planning to expand their presence in this region. In December 2020, EDF International Networks and Capgemini signed a partnership to combine their expertise to develop smart metering and smarts grids solutions. This strategic collaboration offers innovations, including smart meters, software and applications, which enable to adjust supply to demand and also ascertain the balance of the distribution networks. Hence, the rapid adoption of advanced metering infrastructure and introduction of installation of smart meter are some of the prominent factors that accelerate the Energy and Utility LSZH Cables Market.

LSZH Cable For Energy & Utilities Market Drivers

Surging demand for LSZH cables due to rising building and construction activities

The rising growth of building and construction activities is the key driver for Canada's LSZH cable market growth. The building and construction sector generally includes residential, commercial, industrial, and infrastructural buildings. High-performance cables, such as LSZH cables, are capable of guaranteeing safety standards. Due to their properties, the cables can be used in critical service applications such as accommodation spaces, where people evacuation routes must be clear from visual obstruction and acid/toxic gas released during a fire. Thus, the need for safety in the construction industry is driving the demand for LSZH cables. In both residential and non-residential environments, LSZH cables can be utilized for wiring and connectivity. The cables are simple to install, ensure electrical circuit reliability, and endure high temperatures during fires, ensuring human safety. Additionally, the growing awareness of building safety has increased the demand for fire-resistant cables such as LSZH cables. In practically every commercial and residential facility, these cables are used for electricity distribution. In Canada, the LSZH cable market is being driven by increasing government initiatives and investments in the building & construction industry. For instance, according to Statistics Canada, in the second quarter of 2021, total building construction investment surged by 7.3% to US$ 57.2 billion. The residential building reached $40 billion for the first time ($43.4 billion), representing a 9.3% rise over the first quarter. The residential sector's strength this quarter was driven by single-unit investment, particularly in the larger provinces.

Rising Renewable Energy Investment

The increasing government investments in power generation will drive the market for Canada LSZH cable in the forecast period. For instance, according to the Government of Canada, in 2021, the Minister of Natural Resources launched a program to support the smart renewable energy and grid modernization projects, of US$ 964 million, to lower emissions by investing in clean energy technologies, like geothermal, wind, storage, solar, hydro, and tidal. Thus, driving the market growth. Government institutions and policy makers globally are increasing efforts to successfully achieve the emission reduction targets. Respective governments and market players are investing aggressively towards clean energy sources. This has fuelled the industry growth as demand for installation of high capacity offshore wind energy projects is anticipated to witness significant growth during the forecast period, 2020-2025. Governments are focused on creating policies and regulations to fuel the growth of offshore wind energy market. In 2019, the U.K. government agreed to offer $739.3 million of state subsidies to industry players who agreed to invest in offwind energy projects $331.8million over the next 11 years. Additionally, supportive regulatory framework, government policies and mandates along with rapidly declining process for wind turbines will drive the North America industry growth. These rising investments are set to drive adoption of LSZH Cables.

LSZH Cable For Energy & Utilities Market Challenges

Drawbacks associated with LSZH cables will Hamper the Market Growth

LSZH cables are typically more expensive than equivalent PVC cables, and certain types are less flexible. Low smoke zero halogen cables offer numerous significant safety benefits, but there may be an electrical and mechanical trade-off. The cable jacket must contain a high percentage of filler material to be low-smoke zero-halogen. This increase in filler material could render the jacket less chemical and water-resistant and provide poorer mechanical and electrical properties than a non-LSZH counterpart. LSZH jackets are also more prone to jacket cracking during installation, so special lubricants may be required to prevent damage, particularly in cold environments. Furthermore, the LSZH cable is not suitable for robotic or continuous flex applications because of its limited flexibility. As a result, LSZH cable is frequently used in applications where fire safety is more important than specific electrical and mechanical properties. Thus, due to the drawbacks mentioned above associated with LSZH cable, the market is anticipated to face challenges in the upcoming years.

LSZH Cable For Energy & Utilities Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the LSZH Cable For Energy & Utilities Market. In 2021, the market of LSZH Cable For Energy & Utilities Market has been consolidated by the top players

  1. Belden
  2. StarTech
  3. Prysmian
  4. Electro Cables
  5. Nexans
  6. TE Connectivity
  7. Roctest
  8. Axon’s Cable
  9. Leoni
  10. Lapp

Recent Developments

  • In August 2021, Belden launched Access Control Cable (16c CMG-LS) with LSZH jacket that provide high levels of flexibility, security, convenience and performance in order to connect security and access control systems.
  • In March 2021, Belden launched Digital Electricity (DE) Cable that offers LSZH jacket option. The cable delivers DE power (up to 2,000W) on the copper pair while sending data through fiber over long distances (up to 2 km). The line expansion also includes indoor and indoor/outdoor 2 mm breakout plenum cables.

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1. LSZH Cable For Energy & Utilities Market Overview
    1.1 Definitions and Scope
2. LSZH Cable For Energy & Utilities Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Type
    2.3 Key trends segmented By Core
3. LSZH Cable For Energy & Utilities Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. LSZH Cable For Energy & Utilities Market – Industry Market Entry Scenario Premium Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. LSZH Cable For Energy & Utilities Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. LSZH Cable For Energy & Utilities Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. LSZH Cable For Energy & Utilities Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
    7.4 Suppliers and Distributors
8. LSZH Cable For Energy & Utilities Market – By Type (Market Size -$Million/Billion)
    8.1 Thermoset LSZH Cable
    8.2 Thermoplastic LSZH Cable
9. LSZH Cable For Energy & Utilities Market – By Voltage (Market Size -$Million/Billion)
    9.1 Upto 1kV
    9.2 1-3.3kV
    9.3 3.3-6.6kV
    9.4 6.6-11kV
    9.5 11-33kV
    9.6 Above 33kV
10. LSZH Cable For Energy & Utilities Market – By End Use Industry (Market Size -$Million/Billion)
    10.1 Power Generation
    10.2 Utilities
11. LSZH Cable For Energy & Utilities Market - By Core (Market Size -$Million/Billion)
    11.1 Single Core
    11.2 Multi Core
12. LSZH Cable For Energy & Utilities Market - By Armor (Market Size -$Million/Billion)
    12.1 Armored Cable
    12.2 Non-Armored Cable
13. LSZH Cable For Energy & Utilities Market - By Size (Market Size -$Million/Billion)
    13.1 Upto 10 mm2
    13.2 10-20 mm2
    13.3 20-50 mm2
    13.4 50-100 mm2
    13.5 100-250 mm2
    13.6 250-500 mm2
    13.7 Above 500 mm2
14. LSZH Cable For Energy & Utilities Market - By Region (Market Size -$Million/Billion)
    14.1 North America
        14.1.1 U.S
        14.1.2 Canada
        14.1.3 Mexico
    14.2 South America
        14.2.1 Brazil
        14.2.2 Argentina
        14.2.3 Chile
        14.2.4 Colombia
        14.2.5 Others
    14.3 Europe
        14.3.1 Germany
        14.3.2 France
        14.3.3 UK
        14.3.4 Italy
        14.3.5 Spain
        14.3.6 Russia
        14.3.7 Netherlands
        14.3.8 Others
    14.4 APAC
        14.4.1 China
        14.4.2 Japan
        14.4.3 South Korea
        14.4.4 India
        14.4.5 Australia
        14.4.6 Indonesia
        14.4.7 Malaysia
        14.4.8 Others
    14.5 RoW
        14.5.1 Middle East
        14.5.2 Africa
15. LSZH Cable For Energy & Utilities Market - Market Entropy
    15.1 New product launches
    15.2 M&A's, collaborations, JVs and partnerships
16. LSZH Cable For Energy & Utilities Market – Industry Competition Landscape (Premium)
    16.1 Market Share - Global
    16.2 Market Share by Core
    16.3 Market Share by Industry
17. LSZH Cable For Energy & Utilities Market - Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10