The global cables
and accessories market is expected to grow at a CAGR of 5.40%, from 2017 to
2022, to reach a market size of USD 158.25 billion by 2022. The increasing
demand for electric power worldwide, subsequent investments in installing
renewable generation capacity, and rapidly growing industrialization are likely
to drive the cables and accessories market during the forecast period.
Browse 128 market data Tables
and 47 Figures spread through 196 Pages and in-depth TOC on "Cables
and Accessories Market by Voltage (Low, Medium, High), LV by Installation
(Overhead (Conductors, Accessories), Underground (PVC, XLPE, Terminations, and
Joints)), LV by End-User (Industrial, Renewables), and Region - Global Forecast
to 2022"
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The cables and accessories market is dominated by a few
major players that are established brand names with a wide regional presence.
The leading players in the cables and accessories industry include Prysmian
(Italy), Nexans (France), General Cable (US), NKT Cables (Germany), and
Sumitomo (Japan).
Renewable segment is estimated to be the fastest-growing
demand segments for the low voltage cables and accessories market, by end-user,
from 2017 to 2022. This segment is being driven by factors such as government
mandates to increase power generation through clean energy that would result in
reduction of greenhouse emissions. Increase in number of wind power projects in
countries such as Japan, Denmark, Spain, Portugal, among others has led to an
increased share of renewable energy in the total power generation
globally.
Target Audience:
The report’s
target audience includes:
·
Cable manufacturing companies
·
Consulting companies in the power sector
·
Engineering, procurement, and construction
companies in the transmission and distribution sector
·
Government and research organizations
·
Cables and accessories and equipment
manufacturers
·
Insulation raw material suppliers
·
Investment banks
·
Power transmission and distribution companies
Based on installation, underground segment is estimated
to grow at the fastest rate from 2017 to 2022. This is due to various factors
such as protection against bad weather conditions and lightning sparks.
Underground lines have less tendency to short circuits and lightning sparks
making it less hazardous. Also, underground cables have lesser transmission and
distribution losses as they have efficient copper conductors and can operate at
lower temperatures compared to overhead lines.
The share of solar power in renewable segment is
estimated to grow at a faster rate from 2017 to 2022. The decreasing costs of
solar installations and greenhouse gas emission restrictions are driving the
adoption of renewable energy sources for power generation in the commercial,
residential, and industrial sectors. Driven by attractive policy incentives,
solar PV has emerged as one of the fastest growing renewable energy sources
which would drive the low voltage cables and accessories market.
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Objectives of the
Study
·
To define, describe, and forecast the cables and
accessories market by voltage, LV by installation, LV by end-user, and region
·
To provide detailed information regarding major
factors influencing the growth of the cables and accessories market (drivers,
restraints, opportunities, and industry-specific challenges)
·
To strategically analyze the cables and
accessories market with respect to individual growth trends, future
projections, and the contribution of each segment to the market
·
To track and analyze competitive developments
such as contracts & agreements, new product launches, expansions and
investments, and partnerships and collaborations in the cables and accessories
market
·
To profile key players and comprehensively
analyze their market ranking and core competencies
Cables and
accessories in low voltage segment based on region is segmented into North
America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Asia
Pacific is projected to grow at the fastest rate from 2017 to 2022 followed by
Middle East & Africa and North America. Countries such as China and India
are the largest markets and have increased their investments in power sector in
the recent past. China accounted for the maximum share in the Asian region in
2016 and is projected to grow at the highest CAGR of 5.47% from 2017 to 2022.
Increase in the demand for electricity from residential and commercial sectors
and integration of distributed energy resources would have a positive impact on
low voltage cables and accessories market in Asia-Pacific. Also, increasing
urbanization and industrialization are also the major factors impacting the
growth of the low voltage cables and accessories in this region.
