Instrument Cable Manufacturing Industry. Production of Instrumentation Cable
Instrumentation cables are used to convey low-energy electrical signals for monitoring and controlling electrical power systems. The functions of measurement and control are dependent on the electronic circuitry. These cables possess electrical, thermal, and physical properties and are designed to face harsh conditions like flames or surface abrasion.
Instrumentation cables find applications in industrial manufacturing plants to connect electrical instrument circuits and provide communication services for process plants with detailed signal transfer. They also find applications in power plants, steel casting industry, oil refineries and building of ship deck machinery, rolling stock, telecommunication signals and others. The demand for instrumentation cables is primarily driven by the need for power due to growing industrialization.
Instrumentation cables are majorly used for conveying low-energy electrical signals for monitoring and controlling electrical systems and sensors. These cables are manufactured according to the different industries need with varied thermal and physical properties that are designed to stand harsh conditions like flames or explosions. Emergence of microprocessor based/computerized instrumentation has significantly necessitated stringent quality requirements along with special electrical parameters for instrumentation cables which augment the technological innovation in instrumentation cables and boosted the market growth in parallel with emergence of internet of things (IoT).
Industry analysts forecast the global instrumentation cables Market to grow at a CAGR of 4.09% during the period 2017-2023. Instrumentation cables find applications in industrial manufacturing plants to connect electrical instrument circuits and provide communication services for process plants with detailed signal transfer. They also find applications in power plants, steel casting industry, oil refineries and building of ship deck machinery, rolling stock, telecommunication signals, and others. The demand for instrumentation cables is primarily driven by the need for power due to growing industrialization.
Major driver in global instrumentation cables market is growing adoption of the advance monitoring systems and the usage of IoT has been a major factor driving the global instrumentation cables market growth. In addition, the rising opportunities in oil & gas industries and the expansion of smart cities and infrastructure have led to the enlarged demand for instrumentation cables.
Instrumentation cables are used to ensure the safety, reliability, and continuous operation of technology in naval vessels. There is growing focus of manufacturers towards improving the marine deck machinery. This in turn, will demand the need for data signals for operation, which will subsequently fuel the need for instrumentation cables.
The adoption of technical products is increasing in APAC due to the growing population, urbanization, and industrialization. Also, there is a growing dependence on renewable energy sources to meet the rising demand for electricity. This in turn, will create the need for instrumentation cables. Furthermore, the rise in generation of nuclear power in countries such as China, South Korea, and India will also drive the adoption of instrumentation cables in this region.
Wires and cables industry in the India
The Indian wire and cable industry in the last 5 years has grown at around 14-15 percent CAGR and this growth rate is expected to increase to 15-16 percent CAGR in the next 5 years, catapulting the total current market of Rs. 49,000 to Rs. 100,000 Cr in the next five years, a good sign for companies to share a pie in this growth and nudge themselves towards top position.
The India wires and cables market is comprised of various independent manufacturers that specialize in designing, manufacturing of their products. The wires and cables market in India is led by five major players including Polycab wires, Sterlite technologies, Finolex cables, KEI Industries and Havells India, who cover around ~% of organized market for wires and cables.
The wires and cables market in India comprises nearly 40 per cent of the electrical industry and is growing at a CAGR of 15 per cent as a result of growth in the power and infrastructure segments. Each segment in the wires and cables industry such as power cables, control cables, communication cables and others is subject to a gamut of different factors such as price cuts and number of units sold that play an important role in determining their respective revenues.
The Transmission and Distribution sector continues to remain in focus, especially, with the outlay of Rs. 2.6 lakh crore announced by the Government for the five-year period ending FY2022.
Top Cable Companies in India 2018:
· Polycab India Limited
· KEI Industries Limited
· Sterlite Technologies Limited
· Finolex Cables Limited
· Birla Cable Limited* (M.P. Birla Group)
· Vindhya Telelinks Limited* (M.P. Birla Group)
· Universal Cables Limited* (M.P. Birla Group)
· Havells India Limited
· Sterlite Power Transmission Limited
· RR Kabel
· Gupta Power Infrastructure Limited
· KEC International Limited (With RPG Cables)
· Apar Industries Limited (Unit: Uniflex Cables)
· V-Guard Industries Pvt. Ltd.
· Aksh Optifibre Limited
· CMI Limited
· Paramount Communications Limited
· Dynamic Cables Limited
· Chandresh Cables Limited: Avocab
Global Wire and Cable Market
The global wire and cable market is expected to reach US$ 235.9 Bn by 2026, expanding at a CAGR of 4.1% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific is likely to continue to be at the forefront of global demand, with the market in the region expanding at the CAGR of 4.8% through 2026.
The demand for wire and cables is directly reliant on the expansion of the industrial sector and infrastructure development in the power generation and transmission, telecommunication, and residential and commercial sectors. Rapid urbanization and rising global population have increased the demand in these areas, thereby offering multiple opportunities to the global wire and cable market.
Increasing reserves in smart grid technology, growing renewable energy production, and government initiatives for upgrading the transmission and distribution systems are expected to drive this market. Adoption of smart grid technology has fulfilled the rising need for grid interconnections, significantly resulting in increased investments in new submarine and underground cables. In addition, the market growth is attributed to the growing offshore wind farms and high voltage direct current links.
Increasing urbanization and increasing government investments into expansion of power transmission & distribution networks across developed and developing economies are major factors driving growth of the global wire and cable market. In addition, increasing construction of residential and commercial buildings and growing demand for uninterrupted electricity are other major factors expected to boost growth of the global wire and cable market over the forecast period.
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