Global Cable & Accessories Market is expected to grow at a robust CAGR
Global Cable & Accessories Market is expected to grow
owing to increasing focus on grid interconnections and growth of offshore wind
farms throughout the forecast period.
According to TechSci Research report, “Cable & Accessories Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the
Global Cable & Accessories Market is expected to register robust growth during the forecast
period. The global market is being driven by the increasing
demand for energy in various sectors, including residential, commercial, and
industrial. This demand is further fueled by the growing shift towards
renewable energy sources like solar and wind power, resulting in the
development of new renewable energy projects worldwide. The transition to clean
energy is playing a crucial role in driving the market's expansion.
Additionally, government regulations that prioritize energy efficiency, grid reliability,
and safety standards are providing further support for the market's growth.
With the global transition towards clean and renewable
energy sources, cable and accessory manufacturers have a remarkable
opportunity. The development of wind farms, solar power plants, and other
renewable energy projects demands specialized cables that can efficiently
transmit electricity over long distances. This trend is projected to persist as
governments and businesses invest in renewable energy to mitigate carbon emissions
and address climate change.
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and an in-depth TOC on the "Global Cable & Accessories Market."
Based on voltage, the Low segment is
expected to dominate the market during the forecast period. These cables are
widely utilized in residential buildings, commercial establishments, industrial
facilities, and infrastructure projects. The sector encompasses a variety of
cable types, including power cables, control cables, communication cables, and
specialty cables. It also includes accessories such as connectors,
terminations, and junction boxes. The demand for low-voltage cables and
accessories is primarily driven by rapid urbanization and construction
activities in emerging economies. The installation of extensive wiring for
power distribution, lighting, and communication is essential in new residential
and commercial buildings. Additionally, low-voltage cables are crucial for
connecting renewable energy sources like solar power systems and wind turbines
to the grid or within a facility. The expansion of data centers, telecom
networks, and broadband services further necessitates the use of low-voltage
communication cables that support high-speed data transmission and
connectivity. As the global renewable energy projects continue to grow, there
is an increasing demand for low-voltage cables to connect solar panels, wind
turbines, and energy storage systems to the grid. Moreover, the adoption of
smart building technologies and home automation systems presents opportunities
for providers of low-voltage cables and accessories. These technologies rely on
structured wiring for power, data, and control, making it imperative for
manufacturers to develop energy-efficient cables and accessories that align
with sustainability goals.
Based on installation, the Underground segment is
projected to dominate the market throughout the forecast period. The
underground segment of the global cable and accessories market is a critical
component that primarily serves infrastructure, power distribution, and
telecommunications needs. Underground cables and accessories play a crucial
role in ensuring reliable and efficient energy and data transmission. This segment
encompasses a wide range of cables and accessories designed for installation
below ground, including power cables, communication cables, and associated
accessories such as connectors, joints, and terminations. Underground cables
are essential for various applications, including electricity distribution,
telecommunication networks, and data transmission. The rapid urbanization and
infrastructure expansion in both developed and emerging economies are
significant drivers of the underground cable and accessories market. The
increasing need for underground power distribution, data transmission, and
telecommunications networks in urban areas fuels the demand. Moreover, the
development of smart cities and the growth of the Internet of Things (IoT)
create significant opportunities for underground cable and accessory providers.
These advanced technologies rely on extensive underground communication and
data transmission infrastructure. Countries like China and India, with their
rapid urbanization and infrastructure development, are particularly promising
markets for underground cable providers. Additionally, the adoption of smart
city initiatives further contributes to market growth in the region.
Key market players in the Global Cable & Accessories
Market are:-
- Nexans S.A.
- NKT A/S
- Dubai Cable Company
- Prysmian Group
- Furukawa electric Co., Ltd.
- Tele-Fonika Kable Group
- LS Cable & System Ltd.
- Sumitomo Electric Industries, Ltd.
- ABB, Ltd.
- Elsewedy Electric
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“The Cable & Accessories Market in Asia Pacific is
poised to be the dominant force in the industry. The manufacturing capabilities
in the region present opportunities for cable manufacturers to establish local
production facilities and meet the growing demand from these industries. Governments
in the region are placing increasing emphasis on safety and environmental
standards, creating avenues for manufacturers that can adhere to these
requirements.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Cable & Accessories Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented By Voltage (Low, Medium and
High), By Installation (Overhead and Underground), By End User (Industrial and
Renewables), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the
future growth potential of Global Cable & Accessories Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cable & Accessories Market
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