Development of ultra-fast broadband network and growing adoption of emerging technologies such as 5G to boost the global microduct cable market through 2027
According to TechSci Research report, “Microduct Cable Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global microduct cable market was valued at USD992.15 million in 2021 and is expected to grow at a CAGR of 14.18% to reach USD2,130.57 million by 2027. Factors such as the high demand from the construction and electronic industries requiring safe and cost-effective ducting solutions and rapid advancements in cloud computing and communication networks are driving the demand for the global microduct cable market. The other prominent factors that are expected to boost the market growth are the rise in the number of data centers in developing countries and the development of the ultra-fast broadband network. However, the unavailability of required technicians and increased incidence of microduct cable congestion may hinder the global microduct cable market growth in the forecast period.
Browse over 176 market data Figures spread through 225 Pages and an in-depth TOC on “Global Microduct Cable Market”
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The global microduct cable market is segmented into installation environment, type, duct type, diameter, material, application, regional distribution, and competitive landscape. Based on type, the market is divided into smoothwall, corrugated, and ribbed. The Smoothwall segment held the dominating market share of 46.10% in 2021, owing to its ability to provide superior resistance to mechanical and natural damage. Smoothwall can be used to make gradual bends without the requirement of special forming equipment, which can influence the market demand in the coming years.
Based on duct type, the market is divided into thick-walled ducts and tight protected ducts. Thick-walled ducts led the market with a market share of 59.34% in 2021. The growth of the segment is attributed to the benefits offered them, such as greater reliability and robustness and the mass manufacturing of microduct cables to increase the life of optic fiber cables.
Based on material, the market is divided into PVC, HDPE, nylon, and others. HDPE segment dominated the market in 2021 with a market share of 49.45% and is expected to maintain its dominance over the next five years, 2022-2027. They are highly popular due to their exceptional low-temperature properties and can provide better resistance to natural or mechanical damage. High demand for HDPE from the IT industry to safeguard fiber cables to enhance cable life and lower the maintenance requirements are further expected to accelerate the segment demand in the coming years.
Based on application, the market is divided into electrification, transmission network development, telecoms, automotive, construction, and others. The electrification segment captured the highest market share of 28.21% in 2021. Microduct cables used for electrification purposes are abrasion-resistant and are made up of anti-corrosion material.
On the regional analysis, North America dominated the global microduct cable market in 2021 and held 43.77% of the total market share. The presence of several market players such as Dura-Line Corporation, Clearfield, Inc., and Corning Incorporated in the region, and increased use of advanced technologies like artificial intelligence, data centers, internet of things for various applications are the primary factors driving the microduct cable market growth in the region.
Major market players operating in the global microduct cable market are:
- Corning Incorporated
- Prysmian Group
- Nexans S.A.
- Dura-Line Corporation
- Hexatronic Group
- Leoni AG
- Fujikura Ltd.
- Emtelle UK Limited
- Hyesung Cable & Communication Inc.
- Clearfield, Inc.
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“Growing advancements in the telecommunication industry and the surge in demand for seamless data connectivity are driving the installation of 5G networks in developing and developed countries. 5G technology can boost the mobile networks to be 100 times faster and 1,000 times larger than their existing versions. Growing demand for 5G technology is increasing the need to lay new generation fiber optic cables and high-speed connection technologies. Setting up a 5G network requires more fiber which necessitates the state-of-the-art cable infrastructure. Therefore, the rise in the popularity of 5G technology and the need to ensure the safety of optic fiber cables is expected to propel the global microduct cable market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Microduct Cable Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Installation Environment (Direct Buried, Duct/Direct Install, Aerial, Indoor), By Type (Smoothwall, Corrugated, Ribbed), By Duct Type (Thick-Walled Ducts, Tight Protected Ducts), By Diameter (Up to 5mm, 5-10mm, 10-15mm, Above 15mm), By Material (PVC, HDPE, Nylon, Others), By Application (Electrification, Transmission Network Development, Telecoms, Automotive, Construction, Others), By Region”, has evaluated the future growth potential of global microduct cable market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global microduct cable market.
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