Global Cables & Accessories Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 13.57% through 2020 to 2026, reaching US$ XX Mn.
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Global Cables & Accessories Market Overview:
Key drivers for Cables & Accessories Market is the growing demand for renewable energy, fast industrialization & urbanization, worldwide thriving HVDC plans, & government aids, & initiatives to increase & upgrade the current T&D infrastructure. The increase in power capacity on a world scale, offshore wind rules in emerging nations, replacement of conventional grids by ‘Smart Grids’, & up-gradation of infrastructure in developing markets will open fresh avenues for Cables & Accessories market during the forecast period.
On the other hand, restricted funds, compound planning & authorization of plans, & the consequent delays in their application, steeply-priced raw materials, & easily available cheap products in grey markets are stimulating market development. A lack of technical expertise for employing HV, schemes are also hampering the market development.
Global Cables & Accessories Market Regional Insights:
10 nations will account for 80 percent of total smart grid investment by 2030:
Global Cables & Accessories Market 2
Utilities worldwide will together invest more than USD 378 Bn in constructing electricity smart grids by the year 2030. But 80 percent of this investment spend will be focused on just 10 nations, during the forecast period, the US will lead global capital expenditure, as the United States government stimulus funding pushes a mass-market roll-out of progressive metering infrastructure. By the year 2030, the United States will spend USD 60 Bn on intelligent smart grid infrastructure. This contains grid automation, infrastructures, IT systems & hardware, systems integration, & home area network equipment, in adding to smart meters.
Finally, the top-spending market will be China, where annual smart grid capital expenditure will overtake the United States from around 2016. China’s strategies for wide-scale smart meter deployment will see it install over 360 Mn smart meters by the year 2030.
China’s total spend on smart grid development to reach USD 99 Bn by that date more than a quarter of the global total. Two other main developing market forces, India & Brazil, also make the top 10 nations for smart grid investment, ranking 3rd & 6th respectively. “India & Brazil have declared massive smart meter roll-out plans. Brazil supposes to replace 63 Mn electricity meters with smart meters by the year 2021, while India has strategies for over 130 Mn smart meters.
The market ecosystem contains of raw material suppliers, OEMs manufacturing power cables & accessories, end-user trades which contain renewables, infrastructure, & industries such as oil and gas, manufacturing, mining and metals, petrochemical, among others & finally the distributors. It is thus a horizontal market included of upstream & downstream business verticals.
Power cables are used in electrical transmission & distribution networks & mobile substation services set up during construction. Low Voltage power cables are used for distribution in distinct residential areas & small commercial systems. On the other hand, cable accessories have productive applications in T&D infrastructure & HVDC transmission systems. These contain connectors, cable joints, & terminations.
MV cables are expected to account for the major market share during the forecast period. This can be attributed to their productive applications in providing temporary power & in MV switchgear. On the other hand, LV cables & accessories currently ace the market owing to their use in underground distribution networks. Overhead cables & accessories are now prominent in the market but are estimated to be outpaced by MV underground cables & accessories in the probable future; as these need frequent substitutes to suit the soil structure.
PVC cables are projected to reach a high watermark in terms of CAGR during the forecast period. Infrastructure & industrial sections currently hold the major market share, but are anticipated to be outpaced by utilities & renewables; mainly wind, during the forecast period. This can be credited to offshore wind rules conducive to market development in main nations, & the increasing demand for power in emerging nations.
APAC holds the major market share & is deemed to lead during the forecast period; with China at the forefront for MV cables & accessories. Key companies in the cable and accessories market are Nexans, General Cable Technologies Corp, ABB Ltd, Brugg Group, and others.
The report covers Industrial, Renewable with detailed analysis Global Cables & Accessories Market with the classifications of the market on the Voltage, End-User Installation & region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it.
The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of Types, labor cost, availability of advanced Type, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in five regions. The major country’s policies about manufacturing & Covid 19 impact on demand side are covered in the report.
Global Cables & Accessories Market Scope: Inquire before buying
Global Cables & Accessories Market by Scope
Global Cables & Accessories Market, by Region
• North America:
• Middle East & Africa
• South America
Global Cables & Accessories Market, Key Players:
• NKT Cables
• General Cable
• Dubai Cable
• LS Cable
• Taihan Electric Wire Company Ltd
• Brugg Group
• Bahra Advanced Cable Manufacture Co Ltd
• Caledonian Cables Ltd
• TPC Wire & Cable Corp
• Top Cable
• Riyadh Cables Group of Companies
• Southwire Company LLC
• Eland Cables Ltd.
• PFISTERER Holding AG
• REPL International Limited
• Sudkabel GmbH
• Yamuna Cable Accessories (P) Limited
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