Hybrid Cables Market Size, Share and Global Trend By Cable Type (Fiber Optics Cables, Coaxial Cables, Copper Cables, Others), By Power Transmission Type (AC Power, DC Power), By Application (Onshore, Offshore), By End-Use Industry (Telecommunication, Power Transmission, Oil & Gas, Railways, Medical, Others) and Regional Forecast, 2024-2032

Hybrid cables comprise of different types and sizes of conductors and other components that are packed in a single package. The hybrid cables combine copper cables, coaxial cables or fiber optic cables into a single jacket in order to achieve higher efficiency and reduce set up time as they are faster to set as compared to the individual cables types. The hybrid cables exhibit excellent mechanical and electrical properties, flame retardation, fire resistance, and longer life, among other features.

The jackets of the hybrid cables are manufactured using polymers such as polyvinyl chloride compounds in order to prevent the spreading of the fire in the hybrid cables. The hybrid cables such as fiber optics have applications in the interconnection of the power and optical links of radio base stations between the central and remote units.

Based on the cable type, the hybrid cable market is classified into fiber optics cables, copper cables, coaxial cables, among others. Depending on the combination of the type of cables inside the jacket, the hybrid cables are used for different applications. Fiber optic cables are expected to witness a surge in demand for a wide range of applications in the telecom industry in the near future owing to the growth in the data transfer and data usage rate and increasing inclination towards automation in other industries.

By the power transmission type, the hybrid cables market is segmented on the basis of the AC power transmission cables and DC power transmission cables. By applications, the hybrid cables are classified as onshore and offshore hybrid cables. The submarine cables are a type of offshore hybrid cables wherein the power transmission or wiring cables fall under the onshore segment. By the end-use industry, the hybrid cable market is bifurcated as telecom, railway, power transmission, oil and gas, medical and automotive industries, among others.

Hybrid cables are in the growth phase in the market and have a high growth potential in the coming years. The players involved in the telecom and software market are focused on adopting hybrid cables such as fiber optics in order to gain higher efficiencies as compared to the conventional cables. Owing to the growth of the telecom and software industries, the hybrid cables market is expected to gain traction during the forecast period. Hybrid cables also have applications in the residential and commercial buildings for wiring.

The growth in the construction of residential buildings and commercial spaces is expected to boost the sales of hybrid cables in the coming years. An increase in the demand for power is expected to drive the growth of the power generation and transmission industry. The growth of the power generation and transmission industry is expected to augment the market growth of the hybrid cables used in power transmission applications.

The light-emitting sources in the fiber optics are limited to low powers. In order to obtain high power, the cost of the cables gets increased. Additionally, for the long-distance applications, the signal repeaters are used which add to the cost of the fiber optic cable systems. Owing to this, the fiber optic cables become non-economical for high power emission and long-distance applications, and this is expected to hamper the market growth of the hybrid cables in the coming years.

Key Players Covered

Some of the major companies that are present in the global hybrid cables market are Hitachi Cable America, Inc., New England Wire Technologies, Optical Cable Corporation, Klotzs AIS GmbH, Hexatronic, North American Interconnect, B&R Industrial Automation, Nexans, Fiber Connections, Inc., Harting, Hybrid Cables, CommScope, Leoni, SAB Brockskes GmbH & Co. KG, Huber+Suhner, and Fiber Connections Inc., among others.

SEGMENTATION

Regional Analysis

The global hybrid cables market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Internet usage in North America has grown significantly over the years. The telecom industry in the North America region has witnessed significant growth in the recent past. Owing to the growth of the telecom industry in the North America region, the hybrid cables market is expected to gain traction in the region during the forecast period. The power transmission and distribution industry in the Europe region is expected to witness a significant growth in the coming years mainly driven by the renewable capacity additions in the region. The growth of the power transmission industry in Europe is likely to drive the sales of hybrid cables over the forecast period. Latin America region is focused on adding new capacities for power generation in countries such as Mexico, Brazil, and Argentina, among others in order to meet the increasing power demand. The growth of the power generation capacity in the region is expected to drive the market growth of the hybrid cables in the coming years. The Middle East and Africa region have witnessed a steady growth in the construction of the commercial spaces. The growth of the commercial spaces is likely to add in the sales growth of the hybrid cables for wiring applications. Asia Pacific region is focused on expanding the marine cable network and fiber optic network driven by the growth of the telecom and information technology industries in the region. Owing to this, the hybrid cable market is expected to grow at healthy rates in the region.

Key Industry Developments

• In July 2019, Crossworth Electronics has been awarded a contract from the British Touring Car Championship for the design, supply, and service of hybrid systems. The hybrid systems include electric motor, cables, battery, and electronic connections among others.


• In July 2019, Vocus Group has expanded its sponsorship agreement for an NTFL football club called Twin Bombers for two years. The plans to deploy and operate a fiber-optic network between Tiwi and Darwin Islands.


• In June 2019, Meggitt Plc has signed a license agreement with Luna Innovations for the supply of fiber optic technology and components aircraft overheat and fire detection equipment.