June 17, 2024
North America Coaxial Cable Market

North America Coaxial Cable Market is Estimated to Witness High Growth Owing to Increasing Deployment of Cable Internet Connections

Coaxial cables are shielded copper or copper-clad steel wires that are used for transmitting large bandwidth audio, video, and data signals over short to medium distances. The North America coaxial cable market is driven by increasing deployment of cable internet connections and cable television networks across residential and commercial sectors in the region. The need for reliable and high-speed data transmission for telecommunication applications is also propelling the demand for coaxial cables in North America.

The Global North America Coaxial Cable Market is estimated to be valued at US$ 5253.71 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the North America Coaxial Cable are Smith & Nephew, DePuy Synthes, Stryker, Zimmer Biomet, Arthrex, Medtronic, Conmed, Schwartz Biomedical, RTI Surgical, Orteq, Baxter, Geistlich, Anika Therapeutics, B. Braun Melsungen, Cayenne Medical, Enetec Pharmaceuticals, Ivy Sports Medicine, Neotherix, OrthogenRx, Osiris Therapeutics.

The key opportunities in the North America Coaxial Cable Market Share include increasing demand for high-speed internet connectivity across commercial and residential sectors and upgrade of existing cable networks. Technological advancements such as DOCSIS 3.1 standard are enabling cable operators to offer internet speeds over 1 Gbps using existing coaxial infrastructure.

Market drivers: The primary driver for the North America coaxial cable market is the growing deployment of cable internet networks across the region. With increasing demand for high-speed internet among consumers, cable operators are looking to enhance network capacities through coaxial cable upgrades. The demand from niche applications such as radio frequency identification is also pushing market growth.

Current Challenges in North America Coaxial Cable Market:

The North America coaxial cable market is currently facing challenges such as high prices of raw materials and volatile crude oil prices. Prices of raw materials like copper, aluminum and plastics used in manufacturing coaxial cables have witnessed a steep rise over the past few years. Furthermore, since petroleum derivatives are key inputs for insulation materials, fluctuations in crude oil prices directly impact the production costs. Operational challenges pertaining to supply chain disruptions amid the ongoing pandemic have also negatively impacted the market growth.

SWOT Analysis

Strength: Wide range of applications in cable television, broadband internet, and telecommunication networks. Well-established manufacturing infrastructure and strong brand presence of leading players.

Weakness: Heavy reliance on copper as a raw material increases vulnerability to price swings. Growing popularity of fiber optics poses a threat to coaxial cable market.

Opportunity: Advent of 5G technology and proliferation of IoT devices to drive demand. Growing FTTH connections in residential and business sectors present new prospects.

Threats: Stiff competition from alternate technologies. Stringent environmental regulations raise compliance costs.

Geographical Regions with Highest Market Value

The United States dominates the North America coaxial cable market and accounts for over 80% of the region’s total value. Significant investments in upgrading cable infrastructure and rollout of high-speed broadband have propelled demand growth within this country. Canada is another major market, though its share is much smaller compared to the US.

Fastest Growing Geographical Region

Canada is projected to be the fastest growing country market during the forecast period from 2024 to 2031. This can be attributed to large ongoing projects to expand connectivity networks across remote and rural areas. Government initiatives promoting fiberization of cable networks are also favoring the market expansion. Growing penetration of streaming services will drive the need for reliable and high-performance cabling infrastructure in Canada.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.