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Wires and Cables Market Regional Analysis, Emerging Trends, Outlook, Growth, Insights and Forecast 2027

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Samarth J

The global wires and cables market size is projected to reach USD 273.68 billion by 2027, exhibiting a CAGR of 5.4% during the forecast period. Escalating demand for electricity worldwide will propel the growth of this market, suggests Fortune Business Insights™ in its report, titled “Wires and Cables Market Size, Share & COVID-19 Impact Analysis, By Voltage (Low Voltage, Medium Voltage, High Voltage, and Extra-High Voltage), By Installation (Overhead, Underground, and Submarine), By End-User (Construction, IT & Telecommunication, Power Transmission and Distribution, Oil & Gas, Aerospace & Defense, and Others), and Regional Forecast, 2020-2027”.

 

For more information in the analysis of this report, visit : https://www.fortunebusinessinsights.com/wires-and-cables-market-103322

 

According to the ‘Stated Policies Scenario’ of the International Energy Agency (IEA), electricity demand is predicted to rise by 2.1% annually till 2040. The total share of electricity in global energy consumption, therefore, is expected to increase to 24% by 2040 as compared to 19% in 2018. In the IEA’s ‘Sustainable Policies Scenario’, on the other hand, the share of electricity in the final energy consumption is expected to reach 31% by 2040. Wires & cables will play a critical role in the transmission and distribution of electricity across cities and villages around the world and with increasing access to electricity in remote areas, the adoption of wires and cable is set to skyrocket in the foreseeable future.

 

List of Key Players Profiled in the Wires and Cables Market Report:

• Encore Wire Corp (Texas, US)

• Finolex Cables Ltd (Maharashtra, India)

• Marlin Steel Wire Products LLC (Maryland, US)

• KEI Industries Ltd (Delhi, India)

• Belden Inc. (Missouri, US)

• Fujikura Ltd. (Tokyo, Japan)

• Nexans (Paris, France)

• Prysmian Group (Milan, Italy)

• Polycab (Maharashtra, India)

• Amphenol (Connecticut, US)

• Cords Cable Industries Ltd. (Delhi, India)

• LS Cable & System (Anyang, South Korea)

• Sumitomo Corporation (Tokyo, Japan)

• Furukawa Electric Co., Ltd. (Tokyo, Japan)

• Southwire Company (Georgia, US)

 

Request a Sample Copy of the Global Market Research Report : https://www.fortunebusinessinsights.com/enquiry/sample/wires-and-cables-market-103322

 

Regional Insights

Evolving Power Infrastructure in India and China to Augment Market Growth in Asia Pacific

Asia Pacific, where the market size in 2019 was at USD 76.50 billion, is expected to dominate the wires and cables market share during the forecast period. Its leading position is mainly attributable to the massive investments made by India and China in strengthening and modernizing their power infrastructure over the past few decades. Moreover, financial support from regional institutions such as the Asian Development Bank is also favoring the regional market growth.

In North America, the primary market drivers include the increasing power generation from renewables and shifting focus towards energy efficiency. In Europe as well, grid up-gradation to integrate renewable technologies is anticipated to propel the market in the region.

 

Purchase Full Report for Exclusive Wires and Cables Market Growth Forecast – https://www.fortunebusinessinsights.com/checkout-page/103322

 

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