Global Instrumentation Cables Market 2017-2021

Overview of the global instrumentation cables market

Technavio's market research report identifies that the expansion of railways will be one of the primary growth drivers for the instrumentation cables market till 2021. The transportation equipment in trains is connected to the wheels using rolling stock suspension system. This drives the need for instrumentation cables in the rolling stock to pass signals between the rail bogies and wheels. With the growing population and expanding metropolitan areas, the demand for railways will considerable increase in the coming years. It has been observed that more than 75% of the global investments in the high-speed rail segment comes from Asia and Europe. Trans-European Network Program, the Connecting Europe Facility, Structural Funds and Cohesion Fund, and European Fund for Strategic Investment are the sources of funds in the European Union. This growth of the railway industry will subsequently fuel the need for instrumentation cables.  Technavio's market research analysts predict that this global market will generate a revenue of close to USD 790 million by 2021.

One of the key trends that will gain traction in the instrumentation cables market during the predicted period is the increase in manufacture of naval vessels. 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.

Competitive landscape and key vendors