Armored Cable Market by Type (Steel Armored Cable, Aluminum Armored Cable, Fiber Optic Armored Cable), by Application (Power Distribution, Construction, Oil & Gas, Mining, Infrastructure), by End-Use Industry (Residential, Commercial, Industrial, Utilities); Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Armored Cable Market was valued at USD 14.4 billion in 2023 and will surpass USD 21.3 billion by 2030; growing at a CAGR of 5.8% during 2024 - 2030. The armored cable market is a crucial component in ensuring the safe and reliable transmission of electricity, particularly in harsh environments where additional protection is required. Armored cables are used to safeguard electrical conductors against mechanical damage, moisture, and exposure to external elements. These cables are designed with a layer of metal, such as steel or aluminum, offering superior strength and durability, which is essential in industries such as power distribution, construction, oil & gas, and mining. As industries grow and the demand for safe, reliable, and efficient electrical infrastructure rises, the armored cable market is expected to expand significantly in the coming years. Driven by increasing urbanization, industrialization, and infrastructure development, armored cables are witnessing higher adoption, especially in regions that face severe environmental conditions. The growing need for reliable electrical systems in commercial, industrial, and residential buildings further fuels the market. With an emphasis on safety, energy efficiency, and technological advancements, armored cables are becoming indispensable in many sectors. As global investments in infrastructure and industrial projects increase, the armored cable market is set to experience sustained growth. Steel Armored Cable is Largest Owing to Robust Protection and High Demand in Power Distribution Among the different types of armored cables, steel armored cables dominate the market owing to their exceptional strength and durability. Steel offers a robust protection layer that makes these cables ideal for power distribution applications, where safety and reliability are paramount. The steel armor ensures that the cable can withstand harsh conditions, including mechanical damage, external pressure, and extreme weather, making it an essential component in sectors such as construction, oil & gas, and mining. Steel armored cables are especially favored in power distribution networks, where the cables are often exposed to potential damage. The need for strong and secure cables that can handle high voltage levels, along with environmental factors, positions steel armored cables as the go-to solution for industries requiring robust protection. The demand for steel armored cables continues to grow as they are deployed in residential, commercial, and industrial infrastructure projects, further solidifying their position as the largest segment in the armored cable market. Power Distribution Application is Largest Owing to Increased Infrastructure Projects The power distribution application segment is the largest in the armored cable market, driven by the rapid development of electrical grids and infrastructure projects globally. Power distribution networks require reliable and durable cables to transmit electricity safely across long distances, especially in areas prone to external damage. Armored cables, with their protective outer layers, offer a reliable solution to ensure uninterrupted power supply and reduce the risk of electrical hazards. The growing global demand for electricity, especially in emerging economies, has resulted in large-scale investments in power infrastructure. As cities expand and rural areas gain better access to electricity, the need for armored cables in power distribution networks is surging. This trend is supported by the continued focus on renewable energy projects and smart grids, where armored cables are essential for ensuring the safety and longevity of electrical systems. With a significant share in power distribution applications, this segment is poised for sustained growth. Industrial End-Use Industry is Largest Owing to Extensive Use in Harsh Environments The industrial end-use industry holds the largest share in the armored cable market, driven by the widespread use of armored cables in demanding environments such as oil refineries, manufacturing plants, and mining operations. These industries require cables that can endure harsh conditions, including high temperatures, chemical exposure, and mechanical stress. Armored cables provide the necessary protection, ensuring the integrity of electrical systems in industrial settings. In industries like oil & gas, mining, and chemical processing, armored cables are vital for the safe transmission of electricity in environments where traditional cables would be at risk of damage. The ability of armored cables to withstand tough environments while maintaining high performance is a significant factor in their adoption across various industrial applications. As industrial activities grow, particularly in developing regions, the demand for armored cables in this sector will continue to rise, ensuring the industrial end-use industry remains a key driver in the market. Asia-Pacific is Fastest Growing Region Owing to Infrastructure Development and Industrialization The Asia-Pacific region is the fastest-growing market for armored cables, fueled by rapid industrialization, urbanization, and infrastructure development in countries such as China, India, and Southeast Asian nations. The expansion of the power sector, coupled with increased investments in residential, commercial, and industrial infrastructure, is driving the demand for armored cables in the region. As countries focus on strengthening their energy distribution networks and building new infrastructure, the need for reliable and durable armored cables is expanding. Additionally, the rise in industrial activities, particularly in sectors such as oil & gas, mining, and construction, is contributing to the growing demand for armored cables in Asia-Pacific. The region’s focus on improving its electrical grid infrastructure, along with the shift toward sustainable energy solutions, further accelerates the adoption of armored cables. The fast-growing construction sector, especially in developing countries, will continue to fuel the demand for armored cables, making Asia-Pacific the fastest-growing region in the global market. Competitive Landscape and Leading Companies The armored cable market is highly competitive, with several global and regional players competing to offer advanced and cost-effective solutions. Leading companies in the market include Nexans, Southwire Company, General Cable, Prysmian Group, and Sumitomo Electric Industries. These companies are focusing on innovation, product development, and expanding their product portfolios to meet the diverse needs of industries requiring armored cables. The competitive landscape is characterized by continuous technological advancements, including the development of more flexible and durable cables that can withstand even more extreme conditions. As the market evolves, companies are increasingly focusing on strategic partnerships, mergers, and acquisitions to expand their reach and improve their technological capabilities. Additionally, there is a growing trend toward eco-friendly and sustainable armored cables, with companies exploring new materials and manufacturing techniques to reduce environmental impact while maintaining performance standards. As demand continues to rise globally, these companies are well-positioned to lead the armored cable market in the coming years. Recent Developments: • Prysmian Group announced the expansion of its production facility in North America to increase the production of armored cables for the renewable energy sector. • Nexans SA launched a new range of low-voltage armored cables designed to provide superior flexibility and protection for residential and commercial applications. • Southwire Company introduced an innovative, eco-friendly armored cable that features a recyclable material for its protective armor, catering to sustainable construction needs. • LS Cable & System Ltd. signed a major contract to supply armored cables for a large infrastructure project in the Middle East, aimed at improving power distribution systems. • Furukawa Electric Co., Ltd. expanded its armored cable offerings with new fiber optic cables designed for high-speed data transmission in industrial settings. List of Leading Companies: • Prysmian Group • Nexans SA • Southwire Company • General Cable Corporation (Acquired by Prysmian Group) • Furukawa Electric Co., Ltd. • Sumitomo Electric Industries, Ltd. • LS Cable & System Ltd. • Encore Wire Corporation • Oman Cables Industry • KEI Industries Ltd. • Cable Corporation of India Ltd. • Jiangsu Zhongtian Technology Co., Ltd. • TPC Wire & Cable Corp. • Saudi Cable Company • Habia Cable AB Report Scope: Report Features Description Market Size (2023) USD 14.4 Billion Forecasted Value (2030) USD 21.3 Billion CAGR (2024 – 2030) 5.8% Base Year for Estimation 2023 Historic Year 2022 Forecast Period 2024 – 2030 Report Coverage Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered Armored Cable Market by Type (Steel Armored Cable, Aluminum Armored Cable, Fiber Optic Armored Cable), by Application (Power Distribution, Construction, Oil & Gas, Mining, Infrastructure), by End-Use Industry (Residential, Commercial, Industrial, Utilities) Regional Analysis North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) Major Companies Prysmian Group, Nexans SA, Southwire Company, General Cable Corporation (Acquired by Prysmian Group), Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Encore Wire Corporation, Oman Cables Industry, KEI Industries Ltd., Cable Corporation of India Ltd., Jiangsu Zhongtian Technology Co., Ltd., TPC Wire & Cable Corp., Habia Cable AB Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements