Global Sensor Cable Market is Predicted to Grow at ~7% CAGR during 2022 -2031; Increasing Utilization of Pipelines in Oil and Gas Industry to Elevate Growth – Research Nester

Key Companies Covered in the Global Sensor Cable Market Research Report by Research Nester are SAB BRÖCKSKES GmbH & Co. KG, Schneider Electric SE, TE Connectivity Ltd., Belden Inc., TTI, Inc., Lapp Group, Hans Turck GmbH & Co. KG, Baumer Holding AG, Beckhoff Automation GmbH & Co. KG, TTK S.A.S., and other key market players.

New York, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘*Global Sensor Cable Market*’ for the forecast period, i.e. 2022 – 2031 which includes the following factors: 

· Market growth over the forecast period 
· Detailed regional synopsis 
· Market segmentation 
· Growth drivers 
· Challenges 
· Key market players and their detailed profiling 

*Global Sensor Cable Market Size:*
The global sensor market is estimated to grow at a CAGR of ~7% over the forecast period. Increasing utilization of pipeline for mining and oil extraction is predicted to fuel the market growth. Approximately, five petroleum pipeline projects, including new pipelines and extensions, are now under construction in the United States. Between January and June 2022, at least one project also attained their completion dates. Moreover, sensor cable plays a significant role in automotive industry. It is used in monitoring and detecting any abnormalities in the process through its sensors.

These sensor cables have an ability to convert heat, light, sound, motion, and other physical qualities into electrical impulses. Then these electrical impulses are communicated to a control device through specific sensing devices. Hence they are extensively used in insuring safety during mining. Mining accidents are the primary reason to make workers lose their ability to work further. They are expected to be devastating enough for one to lose life. For instance, in 2019, the Kohistan mine collapse in Afghanistan killed over 28 gold miners.
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*Global Sensor Cable Market: Key Takeaways*

· Asia Pacific region to witness robust growth
· Europe region to garner the largest revenue
· Automotive segment to hold the largest share

*Rising Demand for Energy Application to Boost Market Growth*
Owing to increasing industrial activities the demand for energy application including coal, natural gas, and oil is increasing. Because of the rapid expansion in global population, worldwide energy demand is predicted to rise by almost 50% over the next 20 years. Currently, fossil fuels provide over 79% of the world's energy needs. The demand is higher in developed and developing countries. Hence this in turn is expected to lead a boost to the market for sensor cable, since it proves to be helpful in insuring safety.
Further, owing to rising income, urbanization, and access to electricity are expected to boost the demand for energy need. Recent data suggests that in 2021, the electricity demands soared by over 4%. In 2021 and 2022, fossil fuel-based electricity generation was anticipated to supply over 44% and 39%, respectively, of the incremental demand, with nuclear power providing the remaining 20%. The demand for energy by general public is increasing. Energy is basic necessity of a humankind and hence providing them with the same is essential since their daily activities are dependable on it.
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*Global Sensor Cable Marker: Regional Overview*
The global sensor cable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

*Increasing Demand for Electronic and Power Cable Monitoring to Drive Growth in the Asia Pacific Region *
The sensor cable market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period backed by increasing demand for electronics and power cable monitoring along with material handling. India is having the largest consumer for electronic products and is expected to stand on fifth place for having the largest consumer for electronic products by 2025.

*Growing Automotive Industry and Increasing Incidents of Pipeline Leakages to Favour Growth in Europe Region*
Furthermore, the Europe region is anticipated to garner the largest share in the global sensor cable market over the forecast period owing to the growing automotive industry and increasing incidents of pipeline leakages. For instance, 13 km north of Prince George, British Columbia, an explosion on a 36-inch Enbridge natural gas pipeline occurred in Europe.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in: 

· North America (U.S., Canada) 
· Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe) 
· Latin America (Brazil, Mexico, Argentina, Rest of Latin America) 
· Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) 
· Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). 

*Global Sensor Cable Market, Segmentation by End-User Industry*

· Material Handling
· Automotive
· Infrastructure
· IT & Telecommunication
· Oil & Gas
· Energy & Utility

The automotive segment is anticipated to hold the largest market share over the forecast period. Owing to increasing uses of vehicles the demand for automotive industry is expected to boost, which in turn is expected to fuel the demand for sensor cable. In the United States, there are 270 million registered vehicles, according to the US Department of Transportation. In actuality, 90% of homes have access to a car, and research indicates that the typical person spends estimate 100 minutes each day driving.
Furthermore, increase in usage of vehicles leads to a rise in a demand for new technology in automotive. This includes automatic parking, lane keep assists, automatic emergency braking, and lift gates. For instance, a semi-automated system called Puzzle Parking uses combination pallets to move parking spots horizontally and vertically, much like a puzzle, to park and retrieve cars. It is a standalone parking system that is simple to configure and tailor to any property requirements. This technology requires senor cable which is expected to increase the demand.
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*Global Sensor Cable Market, Segmentation by Application*

· Strain Monitoring
· Heat & Temperature Sensing
· Acoustic Sensing
· Leak Detection

The leak detection segment is estimated to hold the largest revenue over the forecast period backed by increasing leakage incidents. Leakages could be caused owing to any problem including corrosion, cracks and more. However, this problem could cause huge disruption of humankind. Chemicals leakage is expected to affect the eyes, skin, and respiratory track, while sometimes also leads to loss of life. For instance, a blast at the Bhilai Steel Plant on October 9, 2018, left 11 people dead and 14 injured. During routine maintenance, a pipeline explosion occurred at the steel plant next to the coke oven area. Also with a chlorine gas leak at a nearby chemical firm, in India, Gujarat's Valsad district on December 20, 2018, more than 40 employees at a glass manufacturing factory were admitted to the hospital. Hence sensor cable has become necessity and the demand is expected to increase.
Global sensor cable market is also divided based on detection mode, jacket type, and connector type.

*Global Sensor Cable Market, Segmentation by Detection Mode*

· Liquid
· Conducting Liquids
· Hydrocarbon Liquids
· Gas

*Global Sensor Cable Market, Segmentation by Jacket Type*

· TPE
· PUR
· PVC

*Global Sensor Cable Market, Segmentation by Connector Type*

· Flanges
· Plugs
· Sockets

Few of the well-known market leaders in the global sensor cable market that are profiled by Research Nester are SAB BRÖCKSKES GmbH & Co. KG, Schneider Electric SE, TE Connectivity Ltd., Belden Inc., TTI, Inc., Lapp Group, Hans Turck GmbH & Co. KG, Baumer Holding AG, Beckhoff Automation GmbH & Co. KG, TTK S.A.S., and other key market players.

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*Re**cent Developments in the Global Sensor Cable Market *

· In March 24, 2022, the Telecommunications Industry Association (TIA) has awarded Belden Inc.'s technology solutions architect and technology and application manager stars for their work on standards development and government advocacy.
· In February 2, 2022, for the fifth consecutive year, TE Connectivity Ltd. secures a substantial position in the FORTUNES magazine's list of the World's Most Admired Companies.

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