The Latin America, Middle East and Africa Wires and Cables Market would witness market growth of 6% CAGR during the forecast period (2020-2026). The usage of smart grid technology is fulfilling the increasing need for grid interconnections which resulted in the rising allocation of funds in the new submarine & underground cables. Basically, smart grids are the electric grids that involve controls, automation, computers, and enhanced tools & technologies which collectively help in offering an efficient transmission of electricity.
These smart grid technologies produce efficient renewable energy, decline the carbon prints and promote the use of e-vehicles. This, in turn, helps in boosting the growth of the wires and cables market. The increasing usage of smart grid technology due to its various benefits is anticipated to boost the growth of the market during the forecast period.
In this modern world, almost everything which a person operates is run by electricity which increases the consumption of electricity around the globe. This increasing consumption of electricity is due to the increasing household income, the introduction of electric vehicles, high demand for smart gadgets which requires electricity for their operations, is estimated to push the demand for wires and cables market. The ongoing projects for constructing better infrastructure and advancement in technology have resulted in the increasing demand for electricity and further propel the demand for wires and cables. The growing consumption of electricity in several sectors and regions has boosted the wires and cables market during the forecast period.
Based on Installation Type, the market is segmented into Overhead and Underground. Based on Voltage, the market is segmented into Low Voltage, Medium Voltage, High Voltage and Extra High Voltage. Based on End User, the market is segmented into Energy & Power, IT & Telecommunication, Building & Construction, Aerospace & Defense, Oil & Gas and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The Brazil market dominated the LAMEA Building & Construction Wires and Cables Market by Country 2019, thereby, achieving a market value of $1,071.3 million by 2026. The Argentina market would witness a CAGR of 7.6% during (2020 - 2026). Additionally, The UAE market is experiencing a CAGR of 6.7% during (2020 - 2026).
The Low Voltage market dominated the South Africa Wires and Cables Market by Voltage 2019, at a CAGR of 5.8 % during the forecast period. The Medium Voltage market is exhibiting a CAGR of 6.2% during (2020 - 2026). Additionally, The High Voltage market would showcase highest CAGR of 7.5% during (2020 - 2026).
Free Valuable Insights: Wires and Cables Market in LAMEA is expected to register a CAGR of 6% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LS Cable & System Ltd., Prysmian Group, Nexans SA, LEONI Group, Furukawa Electric Co., Ltd., Belden, Inc., Encore Wire Corporation, Fujikura Ltd., KEI Industries Limited, and Southwire Company, LLC.
By Installation Type
By Voltage
By End User
By Country
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