Thermoplastic Sheathed Cable Market is Expected to grow at a robust CAGR of 6.01% through 2030F
The increasing global Thermoplastic
Sheathed Cable market is driven by Integration with Smart Buildings, Adoption
of Fire-Resistant and Low-Smoke Cables during the forecast period 2026-2030F.
According to TechSci Research report, “Thermoplastic Sheathed Cable Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2020-2030F”, The Global Thermoplastic
Sheathed Cable Market was valued at USD 12.56 Billion in 2024 and is expected
to reach USD 17.99 Billion by 2030 with a CAGR of 6.01% during the forecast
period. TPS cables are increasingly being integrated into smart building
infrastructures. Smart buildings require advanced electrical systems to manage
automated lighting, HVAC, security, and IoT devices. Over 60% of new commercial
buildings in North America and Europe now feature smart building systems that
rely heavily on high-quality cabling. Residential smart homes are projected to
grow by 10–12% annually in developed regions, further boosting TPS cable
adoption. These systems require cables with better fire resistance,
flexibility, and performance, aligning with TPS characteristics. The trend
toward smart infrastructure is driving manufacturers to develop cables that
support higher data transmission and energy efficiency, creating opportunities
for product differentiation.
Fire safety is a growing priority,
leading to the adoption of low-smoke, fire-resistant TPS cables. Approximately
70% of new commercial buildings in Europe and North America now mandate
fire-retardant cables. In industrial applications, 50–55% of projects have
shifted from standard PVC cables to halogen-free, fire-resistant alternatives.
This trend is pushing manufacturers to innovate with advanced materials that
maintain flexibility while meeting stringent fire safety regulations. Such
cables not only reduce fire risks but also comply with modern building codes,
boosting market adoption.
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Thermoplastic Sheathed Cable Market"
Based on Type, Multi-Core Cables is the
fastest growing segment in the global Thermoplastic Sheathed Cable market during
the forecast period, due to its versatility and efficiency in complex
electrical installations. Multi-core cables integrate multiple conductors
within a single sheath, allowing for streamlined wiring in commercial,
industrial, and residential applications. This design reduces installation
time, minimizes material usage, and enhances overall system reliability, making
it increasingly preferred in modern infrastructure projects.
In commercial buildings, multi-core cables are used
extensively for lighting, HVAC, security systems, and data transmission, where
multiple circuits need to be managed efficiently. Approximately 40–50% of new
commercial construction projects now incorporate multi-core TPS cables due to
their ability to handle multiple circuits in limited conduit spaces. Industrial
facilities also increasingly rely on multi-core cables for machinery,
automation, and process control systems, reducing the need for separate single-core
cables and lowering installation complexity.
The growth is further supported by advancements in
insulation materials and sheath technology, which improve fire resistance, heat
tolerance, and flexibility, allowing multi-core cables to be used in
high-demand and safety-critical environments. Additionally, the rise of smart
buildings and integrated digital infrastructure has accelerated demand for
multi-core cables, as they provide reliable connectivity for interconnected
devices and systems.
Emerging markets, especially in Asia-Pacific and the
Middle East, are witnessing rapid urbanization and industrialization, driving
large-scale deployment of multi-core TPS cables. The combination of ease of
installation, space efficiency, and high reliability positions multi-core
cables as the preferred choice for modern electrical networks, supporting their
status as the fastest-growing segment in the TPS cable market.
Based on region, Asia Pacific is the
fastest growing region in the Global Thermoplastic Sheathed Cable Market during
the forecast period driven by rapid urbanization, industrialization, and
expanding infrastructure projects. The region is witnessing significant growth
in residential, commercial, and industrial construction, which directly drives
demand for high-quality electrical wiring solutions like TPS cables.
Countries such as China, India, and Southeast Asian
nations are investing heavily in urban development, smart cities, and energy
infrastructure. In India, over 65% of urban households are undergoing modern
electrical wiring upgrades, while commercial construction is expanding at an
annual rate of 7–8%. In China, large-scale industrial parks and smart building
projects are significantly increasing the deployment of fire-resistant and
multi-core TPS cables.
The rise of digital infrastructure, including data
centers, IT parks, and telecommunication networks, further supports regional
growth. Asia-Pacific accounts for more than 50% of new internet and telecom
infrastructure projects globally, requiring reliable and durable cabling
systems. Moreover, governments in the region are emphasizing energy efficiency
and safety, mandating low-smoke, fire-retardant cables in construction
projects. Approximately 40–45% of new buildings in developed urban areas follow
these standards.
Industrialization also contributes to growth, with
manufacturing, automotive, and renewable energy sectors adopting TPS cables for
power distribution and automation. The increasing adoption of renewable energy
projects, such as solar and wind farms, requires medium- and high-voltage TPS
cables for transmission, enhancing demand.
Key market players in the Global Thermoplastic
Sheathed Cable market are: -
- Prysmian Group
- Hengtong Group
- Furukawa Electric Co., Ltd.
- Yangtze Optical Fibre and Cable Joint Stock Limited Company
- Fujikura Ltd.
- Sumitomo Electric Industries, Ltd.
- Tongding Group
- CommScope
- Sterlite Technologies Ltd.
- HELUKABEL GmbH
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“The global TPS cable market presents significant
opportunities in emerging economies, smart building integration, and renewable
energy projects. Increasing urbanization and industrialization in Asia-Pacific,
Latin America, and Africa are driving demand for reliable electrical
infrastructure. Rising adoption of multi-core, fire-resistant, and
energy-efficient cables in residential, commercial, and industrial sectors
provides growth potential. Additionally, technological innovations in
materials, insulation, and sheath design enable higher durability and
performance, creating opportunities for premium and specialized cable
solutions. The growing emphasis on sustainable and compliant cabling systems
further expands market prospects for manufacturers and service providers
globally.Top of Form” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based Global management consulting firm.
“Thermoplastic
Sheathed Cable Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Single-Core Cables, Multi-Core Cables, Flat
Cables), By Voltage Rating (Low Voltage, Medium Voltage, High Voltage), By
Application (Residential, Commercial, Industrial), By Region, and By
Competition, 2020-2030F,”
has evaluated the future growth potential of Global Thermoplastic Sheathed
Cable Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Thermoplastic
Sheathed Cable Market.
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