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Cable And Accessories Market Worth 202.07 Billion USD By 2021

Jun 05, 2017

The global cable and accessories market is projected to reach USD 202.07 Billion by 2021, growing at a CAGR of 6.5% from 2016 to 2021. 

This growth can be attributed to increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand transmission & distribution systems.

The global cable and accessories market is witnessing high-growth on account of an increase in electricity demand from developing economies as well as rapid industrial expansion in these economies. Utilities, oil & gas, and renewable energy are the key end-user industries driving the demand for cable and accessories market.

LV & MV cable and accessories have been categorized, on the basis of installation, into industrial, infrastructure, and renewables. The industrial sector held around half of the MV cables & accessories market share in 2015. It includes oil & gas, chemical & petrochemicals, mining & metals, cement & manufacturing, and utilities, among others. Meanwhile, maximum industrialization is taking place in China, India, and Japan within the Asia-Pacific region; thus the demand for LV & MV voltage cable and accessories will be high in these countries.

The report also provides an in-depth understanding of the competitive landscape, along with profiles of the leading cables & accessories market players such as Prysmian S.p.A (Italy), General Cable Technologies Corporation (U.S.), Nexans (France), NKT Cables (Germany), and ABB Ltd. (Switzerland).