The global coaxial cable market grew at a compound annual rate of 3.47% in 2020-23

Research And Markets.
com, an international market research institution, recently released the 2020-2023 Coaxial Cable Global Market Report that the market will grow at a compound annual growth rate (CAGR) of 3.
47% from 2020 to 2023, and its market size is expected to reach $34.
17 billion
by 2023.

In 2019, the global coaxial cable market was worth $29.
82 billion
.
It is expected to grow at a compound annual growth rate (CAGR) of 3.
47% to reach $34.
17 billion
by 2023.
North America is expected to be the fastest growing regional market
for coaxial cable during the forecast period.

The use of coaxial cable in cable broadband across the globe has contributed
to the growth of this market over the past few decades.
Broadband cables offer several advantages
due to their affordability and innovation (e.
g.
, high speed, enhanced reliability, and high download peak times).
According to a study, in 2017, the cable industry connected more than 100 million households
in India.
It has extensive coverage, connecting more than 1,500 cities to urban and rural areas
through last-mile connections.

At the same time, many cable manufacturers are increasing the production capacity of fire-resistant cables to keep up with the growing demand
of the construction industry.
In emergency operations, critical circuits often require the use of fire-resistant cables to reduce the spread of fire and thus ensure maximum safety
.
This cable is designed for wiring
in large residential, industrial and manufacturing buildings.
Thus, the increasing demand for fire-resistant cables will also boost the demand growth
of this market.

However, the growing use of fiber optic cables is expected to limit the growth
of the coaxial cable market.
Fiber-optic cables are network cables composed of fiberglass that sit inside an insulated enclosure and transmit data over longer distances, providing homes and businesses with high-bandwidth and high-performance network connectivity
through the Internet, television, and telephone services.
For example, fiber optic cable consumption in India has grown
at a CAGR of 27% over the past three years.
Fiber optic cables provide a powerful bandwidth internet for long-distance data transmission
.
These factors are expected to have a negative impact on the coaxial cable market as fiber optic cables have many advantages over coaxial cables, thus influencing the growth
of the market.

The North American market is expected to be the largest regional market
for coaxial cables in the world during the forecast period.
In June 2018, Italy-based Prysmann acquired General Cable
for $3 billion in cash.
The acquisition helped Prysmian Group strengthen its presence in North America and expand its presence
in Europe and South America.

From the perspective of manufacturers, Prysmian, Nexans, Belden Cable, LS Cable, Amphenol, Tyco Electronics, CommScope Cable, etc.
will become the world's leading coaxial cable manufacturers
during the forecast period.