A recent report published by Infinium Global Research on wire and cable market provides an in-depth analysis of segments and sub-segments in global as well as regional wire and cable market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wire and cable market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global wire and cable market. According to the report, the global wire and cable market are projected to grow at a CAGR of 4.4% over the forecast period of 2018-2024.
People often use terms like wires and cables interchangeably. However, they are significantly different from each other. A wire is a single conductor strand or a group of conductor strands, sheathed in a jacket of insulation to prevent conductors from making unwanted contacts. Wires are generally used to carry electricity and telecommunications signals however, they can also be used for mechanical loads. While, a cable is, generally, two or more wires running together or bonded twisted or braided together. They are mostly insulated to offer better protection than just wires. Cables are largely employed in power transmission, and to carry electricity and telecommunications signals. Wires and cables are a highly fragmented market. In Low voltage segment wire manufacturing, a large number of local manufacturers dominate the market. This situation is prevalent in almost every region. While the power cable segment is a consolidated market that is dominated by a few large players as manufacturing of these cables is capital intensive and is to be designed according to the set standards and specifications.
Power cables are one of the major types of cables. These cables are used for the transmission and distribution of electricity. Installation of new cable lines and replacement of aging power cable lines to transmission loss is the key factor promoting growth in this market. With increasing urbanization, the demand for power cables has increased, as new cable lines have to be installed in order to provide electricity to consumers. Moreover, the demand for optical fiber is increasing. The fiber optic cables are used to transmit large data information. With growing bandwidth globally, the demand for fiber optic cables is increasing. Moreover, the increasing number of consumer appliances owing to rising disposable income and the development of new appliances has driven the growth in the wires market. However, economic slowdown or political instability in any region can restrict or halt the new orders of power cables. This, in turn, can hamper the market growth of the wires and cables market. Advancements in manufacturing technologies in order to increase productivity and reduce the operating cost are the key areas focused by the leading players in the wires and cables market.
Geographically, Asia Pacific dominates the wires and cables market in the year 2017. The growth in the Asia Pacific region is primarily attributed owing to factors such as rural electrification and rapid urbanization. Besides this, increased renewable energy production and large automobile production are the factors facilitating the growth of wires and cables in this region. Besides this, Government initiatives to provide internet throughout the country have facilitated growth in the optical fiber cables. These aforementioned factors are responsible for driving growth in this region. Moreover, regions like the Middle East & Africa and South America are expected to stable growth opportunities owing to a recovery in economic condition.
The report on the global wire and cable market cover segments such as type, voltage type, and applications. On the basis of type, the global wire and cable market is categorized into wire and cable. On the basis of voltage type, the global wire and cable market are categorized into low voltage, medium and high voltage, and extra high voltage. On the basis of applications, the global wire and cable market is categorized into power transmission and distribution, transport, data transmission, infrastructure, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the wire and cable market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global wire and cable market such as Hitachi Metals Ltd, Polycab Wires Private Limited, LS Cable & System Ltd, TPC Wire & Cable Corp, General Cable Corporation, Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Hengtong Optic-Electric Co Ltd, and Prysmian Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global wire and cable market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of wire and cable market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the wire and cable market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the wire and cable market to understand the present and future trends in this market and formulate their strategies accordingly.
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