North America Coaxial Cable Market is Estimated to Witness High Growth Owing to Opportunity in Infrastructure Developmen

Coaxial cables are used for transmitting radio frequency signals. They are widely used in broadband and cable television networks for signal transmission with high bandwidth and low electromagnetic interference. Coaxial cables have a conductive core that is surrounded by insulating material and a conductive shielding, which allows them to carry signals with very low noise over longer distances as compared to ordinary electric wires. With increasing population and demand for reliable and high-speed internet networks in residential and commercial sectors, deployment of coaxial cables is growing in North America region.

The global North America Coaxial Cable Market is estimated to be valued at US$ 5253.71 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity

The opportunity for growth in infrastructure development projects in North America region is expected to drive the coaxial cable market during the forecast period. Governments across countries are investing heavily in development of broadband networks to provide high-speed internet connectivity to rural areas. For instance, the U.S. federal government has approved a plan to invest US$ 65 billion to expand high-speed internet access across the country. Similarly, governments in Canada are focused on improving connectivity in remote areas. Such infrastructure development initiatives will propel the demand for coaxial cables for fiber-optic backhaul networks as well as last mile connectivity. The increasing requirement for high bandwidth networks due to rising data consumption will further support the coaxial cable market growth.

Porter's Analysis
Threat of new entrants: The North America coaxial cable market is moderately concentrated with presence of established players making entry difficult for new players. Significant investments are required for R&D, production facilities, and marketing.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, brand loyalty and quality keeps buyers attached to major established brands.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and commodity nature of materials.

Threat of new substitutes: Threat of substitution is low as coaxial cables have distinct advantages over other substitutes for transmission of cable signals with high reliability.

Competitive rivalry: The market is competitive due to presence of major global players and private labels. Players compete on pricing, product differentiation, innovation and brand reputation.

SWOT Analysis
Strength: Established brands, innovation capabilities, geographic expansion, vertical integration are key strengths.

Weakness: Dependence on seasonal demand, high fixed costs, vulnerability to macroeconomic cycles, trade barriers are weaknesses.

Opportunity: Growth in smart infrastructure, 5G proliferation, rising internet penetration presents opportunities.

Threats: Currency fluctuations, changing regulations, overcapacity leading to pricing pressures are threats.

Key Takeaways

The Global North America Coaxial Cable Market Demand is expected to witness high growth over the forecast period. Driven by increasing investments in broadband and telecommunications infrastructure and proliferation of connected devices. The covid-19 pandemic has accelerated digital transformation and boost demand for high speed internet further propelling market growth.

Regional analysis: The U.S. dominates the North America market and is expected to maintain its leading position over the forecast period. Growing investments to develop smart cities and proliferation of IoT devices will drive the U.S market. Canada market is also growing at a steady pace supported rising fiber to home projects.

Key players operating in the North America coaxial cable market 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. Major players are focusing on launching new products through R&D and acquisitions to enhance their market share.