Expanded Beam Cable Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)

Based on the Type :

Based on the type, the market is bifurcated into single-mode and multi-mode. The multi-mode segment accounted for the largest revenue share in the year 2022. Multi-mode expanded beam cables comprise of a larger core diameter which allows the propagation of several light modes. Moreover, multi-mode expanded beam cables offer several benefits including higher speed, high bandwidth, and the ability to enable several mode optical signals to be transmitted at once. The above benefits of multi-mode expanded beam cables are increasing its application in aerospace & defense, healthcare, and IT & telecommunication sectors among others.

For instance, according to the European Medical Technology Industry, the medical device sector in the U.S. and Europe accounted for 43.5% and 27.3% of the total share of the global medical device sector in 2021. It further states that the medical device sector in Germany accounted for 25.8% of the total share of the European medical device industry in 2021, followed by France with 14.3%, UK with 10.4%, Italy with 9.0%, and Netherlands with 6.4% among others. Thus, the rising production of medical devices is among the key factors driving the adoption of multi-mode expanded beam cables for application in medical diagnostics, monitoring, and imaging equipment, in turn contributing to the growth of the market.

The single-mode segment is anticipated to register fastest CAGR growth during the forecast period. Single mode expanded beam cables are capable of carrying a single beam of light and are ideal for deployment in long-distance telecommunication applications. The core diameter of single-mode cables is much smaller as compared to multimode cables. Moreover, single-mode expanded beam cables are relatively less expensive and offer multiple benefits including faster transmission over long distances, lower integrity loss, and others. The above benefits of single-mode expanded beam cables make it ideal for utilization in IT & telecommunication, and other industries.

For instance, according to Viavi Solutions Inc., the overall number of cities across the world with 5G deployments reached 1,947 as of January 2022, along with the addition of 635 new 5G cities in 2021. Therefore, the growth of telecommunication sector is anticipated to drive the utilization of single-mode expanded beam cables for utilization in telecom base stations and communication systems, in turn fueling market growth during the forecast period.

Based on the End-User :

Based on the end-user, the market is segregated into automotive, consumer electronics, aerospace & defense, healthcare, and others. The aerospace & defense segment accounted for the largest revenue share of 42.4% in the year 2022. Factors including rising aircraft production, growing commercial flight activities, and increasing investments in air defense systems are driving the growth of the aerospace & defense sector.

For instance, in December 2022, Dassault Aviation, a French manufacturer of business jets and military aircraft, launched a Rafale fighter aircraft for its application in the French military procurement agency called the Directorate General of Armaments. Therefore, the growth of aerospace & defense sector is driving the adoption of expanded beam cables for providing high-speed data transmission and seamless network connectivity in applications including military vehicles, antenna systems, radar systems, and tactical military communications, in turn proliferating the growth of the market.

IT & telecommunication segment is expected to witness fastest CAGR growth during the forecast period. The growth of IT & telecommunication segment is attributed to several factors including the growing demand for wireless communication, increasing penetration of 5G infrastructure, and rising need for high-speed data and internet services.

For instance, according to GSM Association, most of the countries in European region deployed commercial 5G services in 2021, while approximately two thirds of regional operators launched 5G networks. GSM Association further states that 5G connections across the European region are projected to reach 311 million by the end of 2025. Therefore, the growth of telecommunication sector is expected to drive the adoption of expanded beam cables for utilization in base stations and broadcast stations among others, in turn proliferating the growth of the market during the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of USD 2.13 Billion in 2022 and is expected to reach USD 13.23 Billion by 2031, registering a CAGR of 22.9% during the forecast period. In addition, in the region, the U.S. accounted for the maximum revenue share of 65.40% in the same year. The adoption of expanded beam cables in the North American region is primarily driven by its usage in IT & telecommunication, aerospace & defense, healthcare, and other sectors. Additionally, the rising utilization of expanded beam cables in telecommunications infrastructure including base station and fiber optic communication systems is among the significant factors driving the market growth in the region.

For instance, according to the GSM Association, the total deployment of 5G connection across North America reached approximately 140 million as of 2022. Hence, the growing telecommunication industry is fostering the utilization of expanded beam cable for high-speed data transfer and communication applications, in turn driving market growth in the North American region. Further, increasing investments in healthcare and aerospace & defense industries are projected to stimulate lucrative growth prospects for the market to grow in North America during the forecast period.

Asia-Pacific is expected to register the fastest CAGR growth of 23.1% during the forecast period. The rising pace of industrialization and development is facilitating lucrative growth aspects for the market in the region. Moreover, factors including the growth of multiple industries such aerospace & defense, IT & telecommunication, and others are driving the market growth for expanded beam cables in the Asia-Pacific region.

For instance, according to Invest India, the Government of India allocated USD 70.6 billion to the Ministry of Defense as the part of its Union Budget 2022-23. The primary focus of the budget allocation to the Indian Ministry of Defense is to help in the development of new unmanned vehicles and systems, military ground vehicles, and other related systems. Hence, rising investment in military & defense sector is anticipated to drive the utilization of expanded beam cables for providing reliable network connectivity and high-speed data transmission in applications including military vehicles, tactical military communications, and others thereby, driving market growth in the Asia-Pacific region during the forecast period.