June 18, 2020
According to the research report titled ‘Low Smoke Halogen Free Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Jacket Type; Insulation Material; Application, available with Market Study Report LLC, the global low smoke halogen free cable market was worth USD 1,898.7 million in 2019 and is expected to reach USD 3,945 million through 2027 with a CAGR of 10.1% over 2020-2027.
The low smoke halogen free cable market growth is credited to the application of fire-retardant device specially in buildings prone to fire hazards and stringent fire control laws. Europe is likely to record highest share in the global low smoke halogen free cable market, cites the study.
To guarantee the occupants safety, strict fire regulations have been set with respect to construction of buildings in developing and developed economies. In countries like India, Italy, Spain, Germany, UK, Mexico, Canada, Australia, and the US, strict rules are laid with respect to fire safety. In addition to this, strict actions will be taken by the concerned authorities in case there is any violation of the rules. The standards and codes set by the NFPA are to be followed by every service, process, installation, and design.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2689414/
Europe held the biggest share of the global low smoke halogen free cable market, and this growth is credited to the government associations throughout the region. The European Commission recently enlisted new building code requirements to reinforce defense against fire around commercial, industrial, and residential premises. The fire protection rules, and strategy laid by the regulatory bodies in Europe and the US are at par with each other.
In 2017, an initiative funded by EU had presented a document for development of common European legal framework for it to be used in fire protection codes in Europe. Similarly, regulations have been enforced in other countries throughout the world which contribute to low smoke halogen free cable market growth.
Speaking of cables, the rules apply to control, power, and telecommunication cables. It has now become mandatory for all installed cables to obey the regulations set by Construction Product Regulation (CPR) developed by European Union (EU). These rules are laid to keep a check on the harmful substances in the materials utilized in construction. Thus, it has enhanced the adoption of the low smoke halogen free cables.
The outbreak of COVID-19 pandemic has a positive effect on the telecommunication companies in the US, which includes Verizon with 59,000 Fios Internet additions in the first quarter of 2020, and AT&T with 209,000 additional fiber net. This in turn is likely to stimulate the global low smoke halogen free cable market growth.
The leading organizations in the global low smoke halogen free cable market are Sumitomo Electric Lightwave Corporation, Shanghai Kaibo Compounds Factory Company Limited, Orbia (Mexichem Specialty Compounds), Prysmian Group, Nexans SA, Hitachi Limited, Fujikura Limited, DowDuPont Incorporation, Borealis AG, and BASF SE among others.