With the continuous improvement of railway infrastructure, the global demand for high temperature cables market will also grow. According to a report released by Technavio, an international market research institute, by 2026, the global high temperature cable market demand will increase by 923.52 million US dollars, and the market growth momentum will accelerate at a compound annual growth rate of 8.9%.
High temperature cables are cables with conductors made of stranded soft copper conductors. Heat-resistant and high-temperature wires and cables are generally determined by two requirements. The first is that the ambient temperature of the wire and cable is high, and the cable can normally transmit signals or electric energy under high temperature for a long time; the other is the power transmission cable, which mainly aims to increase the current interception capacity.
One of the key factors driving the growth of the global high temperature cables market is the improvement in railway infrastructure. Railway cables should be halogen-free, self-extinguishing and flame-retardant. High temperature cables have these properties that make them one of the key components of railway infrastructure.
Several countries are investing heavily in the rail industry, which will create demand for new trains. For example, the Italian National Rail Industry Business Plan for 2019-2023 has a $66.41 billion investment to develop rail transport in the country. In February 2021, the Indian government launched 88 new railway projects. Additionally, Indian Railways has announced plans to electrify its entire network by 2023. All these factors are expected to drive the growth of the global high temperature cables market over the forecast period.
Another key factor driving the growth of the global high temperature cables market is the growing wind power generation capacity. Wind turbines are often subject to extreme temperatures, which often include very high and very low temperatures, depending on the climatic conditions of the turbine. High temperature cables are required for a variety of applications, such as wiring of motors, generators and transformers.