U.S. Hybrid Cables Market Size, Share & COVID-19 Impact Analysis, By Cable Type (Fiber Optic Cables, Coaxial Cables, Copper Cables, and Others), By Transmission Type (AC Power and DC Power), By Application (Onshore and Offshore), and By End-use Industry (Telecommunication, Power Transmission, Oil & Gas, Railways, Medical, and Others), and Country Forecast, 2023-2030

The U.S. hybrid cables market size was worth USD 1.73 billion in 2022 and is projected to grow at a CAGR of 6.10% during the forecast period.

The U.S. has observed a significant rise in the demand for hybrid cables owing to the growth of a key trend in the automation industry as they combine power, control, and data cores within a single line. These cables deliver unsurpassed energy and control, meeting the needs of decentralized control systems. The strong growth in the adoption of these cables is due to their advantages, such as carrying energy/data on one or several cores and performing exceptionally well under torsion conditions.

The COVID-19 pandemic affected the U.S. economy as operations in various sectors had stopped. In the cable sector, companies faced several challenges due to decreased availability of resources and workforce. This shift reduced the demand for certain types of hybrid cables, such as those used in office networking infrastructure, as companies scaled down their operations or switched to remote setups. Many industries that utilize hybrid cables, such as telecommunication and power experienced a decline in the demand for their products during the pandemic. Reduced production and sales slowed the U.S. hybrid cables market growth.

U.S. Hybrid Cables Market Trends

Highly Flexible Hybrid Cables for Moving Applications

Hybrid technology has transformed the cable industry in the last few years, catering to the evolving needs of drive systems in moving applications. These innovative cables unite the supply and energy cores for brakes & temperature sensors, and a bus system, thereby eradicating the need for additional cables and connectors. By incorporating the bus system, digital information from the motor’s encoder is transferred back to the frequency converter seamlessly. This reduces costs and optimizes space within the system.

U.S. Hybrid Cables Market Growth Factors

Increasing Demand for Power to Drive U.S. Hybrid Cable Market

The growth in the demand for electricity is predicted to drive the development of the power generation & transmission industry. With the increase in electricity generation, the energy mix of the U.S. has evolved, especially as a clean source. The growth of the power generation & transmission industry is ultimately going to affect the hybrid cables market growth as these cables are used in various power transmission and oil & gas applications. For instance, in May 2023, the U.S. government initiated a multibillion-dollar transmission line that will generate electricity with the help of wind energy and supply it to big cities in the West from the rural plains of New Mexico.

RESTRAINING FACTORS

Higher Initial Investment in Hybrid Cables as Compared to Traditional Cables to Restrain Market Growth

One of the most significant challenges of adopting hybrid cables is their high cost as compared to the traditional cables. Fiber is a reasonably recent innovation introduced in the past forty years, so while it is popular, it is more expensive to install and operate for businesses with high operation volumes and digital data networking needs. This can be a substantial barrier to their adoption, particularly in industries where cost is an important consideration. These factors are anticipated to deter the U.S. hybrid cables market growth.

U.S. Hybrid Cables Market Segmentation Analysis

By Cable Type Analysis

Based on cable type, the market is segmented into fiber optic cables, coaxial cables, copper cables, and others.

The fiber optic cable segment held a larger market share in 2022 owing to their ability to provide the fastest speed as compared to other cables. Fiber optic cable is a data connection supported by a cable occupied with plastic fibers. These cables are similar to beams of light pulsed in a pattern when data travels through it. Its internet speed is around 20 times faster than that of the usual cables. Moreover, it is more reliable and can bear more users and even more data at consistently higher speeds.

By Transmission Type Analysis

Based on power transmission type, the market is segmented into AC power and DC power.

The DC power segment held a larger market share in 2022 owing to the fact that it is more reliable than AC power in terms of voltage supply. As DC power is more consistent than AC power, a vast number of electronics use this type of power transmission. Batteries are a key example of electronics using DC power. DC power is quite easy to understand as compared to AC power. Rather than wavering back and forth, DC provides a constant voltage or current. Similarly, in electric vehicles, a DC charger contains a converter within the charger itself, unlike AC chargers. It can provide power straight to the car’s battery and doesn’t need a charger onboard to convert it. These chargers are faster and bigger, and they are a great revolution in electric vehicles.

By Application Analysis

Based on application, the market is segmented into onshore and offshore. The onshore segment held a larger U.S. hybrid cables market share in 2022 owing to the increasing development of renewable energy infrastructure in the U.S. Onshore projects are dominating the market due to rapid developments in various sectors, including oil & gas and renewables. Companies are investing in upcoming onshore wind energy projects. For instance, RWE Renewables is making substantial progress in its renewables portfolio by investing in Baron Winds’ onshore wind farm project, the construction of which is in progress. This 121.8 megawatt (MW) project is located in New York.

By End-use Industry Analysis

Based on end-use industry, the market is segmented into telecommunication, power transmission, oil and gas, railways, medical, and others.

The telecommunication segment held a bigger market share in 2022 since hybrid networks allow data and power to be delivered using only one cable. Telecommunication is the leading segment in the market due to ease of installation as it requires less labor and resources. Moreover, it takes less time for data cable installation companies to complete their projects. Telecommunication is one of the most essential industries in the world. Hybrid cables are used in power supply systems for remote telecommunication, short-distance communication systems with power supply, and more.

List of Key U.S. Hybrid Cables Market Companies

In terms of the competitive landscape, the U.S. hybrid cables market depicts the presence of established and emerging hybrid cable manufacturing companies. Fiber optic cables dominated this market in 2022. CommScope is one of the leading companies in the market. The company's apex position is attributed to the strong sales performance of its flagship hybrid offerings, serving dual purposes in one system, and greater emphasis on the adoption of advanced tools by the company. This focus on the greater adoption of advanced technologies has allowed the company to streamline its hybrid cables, considerably improving its sales and volume shipments.

LIST OF KEY COMPANIES PROFILED:

• Amphenol Antenna Solutions (U.S.)


• Autel Europe GmbH (Germany)


• Axon Cable (U.S.)


• New England Wire Technologies (U.S.)


• Optical Cable Corporation (U.S.)


• Hexatronic Sweden (Europe)


• Nexans (France)


• Harting (Germany)


• Leoni (Germany)


• CommScope (U.S.)

KEY INDUSTRY DEVELOPMENTS: 

• June 2023: Nexans, a leading company in the design and manufacturing of cable systems and services, presented a new high-voltage cable range for aircraft. The company claimed that the efficiency of these cables is higher than that of the previous generation. With this cable, Nexans has taken steps to reach the objective of carbon neutrality in the aerospace industry by 2050.


• May 2023: Superior Essex Communications announced the expansion of its fiber optic cable manufacturing facility in Brownwood, Texas. This expansion will contribute to the growing demand for OSP fiber optic cables, hybrid cables, and drop fiber cables. This step will help Superior Essex in supporting broadband buildouts for high-speed internet.


• March 2023: Belden played an essential role in being a leader in the global supply of network infrastructure and digital solutions by announcing the launch of its new Fault-Managed Power System (FMPS) hybrid cables. These cables are certified and designed for class 4 circuits.

REPORT COVERAGE

The report provides a detailed analysis of the market. It focuses on key aspects, such as an overview of the technological advancements, prevalence of hybrid cables in the U.S., and pricing analysis. Additionally, it includes an overview of the role of cables in the telecommunication industry, their use and installation, new product launches, key industry developments such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. Besides this, the report also offers insights into the latest market trends. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.

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