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According to a new report Global Wires and Cables Market, published by KBV research, The Global Wires and Cables Market size is expected to reach $250.8 billion by 2026, rising at a market growth of 5.4% CAGR during the forecast period.
The high voltage wires and cables are utilized for transmitting electricity from 1,000 volts. These cables are covered with paper and oil, to eliminate the risk of direct contact of the cables with a person or other material. The insulation material type used in the cables and wires affects the quality of high voltage cables. End-users of these cables like telecom, power distribution, aerospace, defense, and oil & gas are demanding more for these cables which act as a major factor in the growth of the high voltage cable market during the forecast period.
The overhead installation market segment witnessed the largest share in terms of revenue in 2019. The overhead installation technique is the most extensively utilized approach in the world. The overhead method of wires and cables is a very cheap and easy form of installation, which is adopted by many low populous nations. Although, nations that have a high risk of natural calamities like floods and earthquakes have used overhead cable installation.
The energy & power market segment recorded the largest market size of the wires and cables market in 2019. There are many technological upgrades like changing old transmission lines to high voltage lines to eliminate the transmission losses made in the electricity T&D ecosystem. This kind of change focuses on creating a stable ecosystem compared to the changing nature of renewable energy sources. In addition, the latest methodologies like synchronized charging of electric vehicles and net metering for solar homes have intrusively impacted the sector of utilities.
The Asia Pacific market dominated the Global Wires and Cables Market by Region 2019, growing at a CAGR of 5.4 % during the forecast period. The Europe market is estimated to grow at a CAGR of 5.3% during (2020 - 2026). Additionally, The North America market would showcase a CAGR of 5.2% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/wires-cables-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
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