Fire Resistant Cable Market - Forecast 2019 - 2025
Fire Resistant Cable Market Overview: As per the report generated by the National Fire Protection Association, electrical failures were considered to be the second leading cause for fires and it resulted in around 13% of the US homes catching fire due to unattended equipment and wires. Also, 18% of the civilian death with around 20% of property damage are due to electrical failures. [1] These facts surely indicate the growing opportunities for cable manufactures in the fire-resistant cable market. Owing to the increase in demand for fire resistance cable, the market value was $1.82 billion in 2018. Furthermore, on the back of growing consumer inclination towards excellent quality, global fire resistant cable market will grow with a compound annual growth rate (CAGR) of 4.30% during the forecast period of 2019-2025. Though the market inception may have happened in North America, APAC currently is reckoned to be dominating the fire-resistant cable market demand. In a recently released ...