9-July-2019: The global wires and
cables market is expected to reach USD 232.6 billion by
2025, according to a new report by Grand View Research, Inc. It is anticipated
to expand at a CAGR of 4.9% during the forecast period. Increasing funds for
upgrading infrastructure coupled with the demand for refined power transmission
and distribution systems are expected to be the key factors driving the growth.
Increasing
investments in smart grids and renewable energy generation are the other
factors driving the overall market. Various types of cables are used for
several applications based on their voltage, resistance and flexibility such as
Poly Vinyl Chloride (PVC) cables are mostly used in food industry owing to
their mechanical strength and resistance. Rising economic activity and rapid
urbanization in emerging economies will lead to industrial growth. Sectors such
as telecom and aerospace and defense are moving towards new infrastructure and
construction, driving the demand for wires and cables used in construction
activities. Technological upgrades require various services such as
communication and internet access. Expansions and upgrades in these will directly
boost the demand for communication cables, instrumentation cables, and Ethernet
cables among others.
Government
initiatives in rural electrification also play a vital role in the growth of
the wires and cables market. Rural electrification involves major actions such
as improved communication, setting electricity infrastructure, and providing
connectivity to households. Rural electrification is expected to drive the
product demand in the forthcoming years. For instance, according to the
Ministry of Power—Government of India, 26.3 million homes below poverty line in
the country have been electrified under the Rural Electrification section of
Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). Smart grids diminish the
general cost incurred in traditional including operational cost incurred due to
loss of power and it lowers the pressure on energy prices and total customer
bills.
Indian government
under the “Make in India” campaign has targeted installation of 130 million
smart meters by 2021 under Smart City Initiatives. In addition, the
installation will be done at the consumer base where the monthly consumption is
above 200 units by 2019. There are various steps taken by the government in
other countries such as U.S. to encourage the implementation of smart grid.
In
depth research report on Wires and Cables Market
Further key findings from the report suggest:
·
Low voltage emerged as the fastest growing segment over the
forecast period
·
Overhead emerged as the largest segment in 2018 and is
estimated to generate revenue of over USD 148.21 billion by 2025
·
Asia Pacific held the largest share of the wires and cables
market in 2018. Government initiatives such as Make in India, Smart Cities, and
Sansad Adarsha Gram Yojana in the region are anticipated to drive the growth
·
Key players include Prysmian S.p.A; Nexans; Belden Inc.; LS
Cables & System Ltd.; Furukawa Electric Co., Ltd.; Fujikura Ltd.; Sumitomo
Corporation; Leoni AG; and NKT A/S; among others accounted for the majority
market share in 2018.
Grand View Research
has segmented the global wires and cables market on the basis of voltage,
installation, end use, and region:
Wires and Cables Voltage Outlook (Revenue, USD Billion, 2015
- 2025)
·
Low Voltage
·
Medium Voltage
·
High Voltage
·
Extra High Voltage
Wires and Cables Installation Outlook (Revenue, USD Billion,
2015 - 2025)
·
Overhead
·
Underground
Wires and Cables End Use Outlook (Revenue, USD Billion, 2015
- 2025)
·
Aerospace & Defense
·
Building & Construction
·
Oil & Gas
·
Energy & Power
·
IT & Telecommunication
·
Others
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
you privided very informative content but i have the info about fastest sattaking result Sites. this site provides
ReplyDeleteDesawar Result superfast,
सट्टा किंग result before any site in the world. also
Gali Result at 5 am every morning.
satta king result everyday, and satta king this sites gives some leaks from the company.
Gali Result, Desawar And satta king this sites are giving superfast results in the world no one gives results and leaks before this sites. this is very old and trusted site witch gives best info about satta king results. your info is also good but i got more informisssion realated satta king and also you contact me on desawar Result so we can join togather and know more about this things.