Low Voltage Cable Market To Report Impressive Growth, Revenue To Surge To US$163.5 Billion By 2022

09-Oct-2017 | Zion Market Research

With the presence of a large pool of participants, the Global low voltage cable market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). ABB Ltd, Sumitomo Electric Industries, Nexans S.A, Prysmian S.P.A, Finolex Cables Limited, and General Cable are some of the key vendors of low voltage cable across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the low voltage cable market study.

In a major event that can impact low voltage cable market size, in September 2018, Wesco Distribution Incorporation acquired nearly 5,052 shares of House Wire & Cable. Reportedly, the cost of each share was estimated at approximately US$ 8.10 per share, thereby the acquisition deal was evaluated at US$ 40,921.20.

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In another strategic acquisition move that is likely to contribute towards the expansion of low voltage cable market revenue, in August 2018, Southwire Company - a leading electrical wire, cable, and cord manufacturer- acquired Garvin Industries Inc, a key U.S. based manufacturer of electrical, lighting, and low voltage products.

As estimated in this report, the global low voltage cable market stood at US$ 110.8 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this low voltage cable market is expected to reach US$163.5 billion by the end of the forecast period.

Browse the full " Low Voltage Cable Market (By End Users: Infrastructure, Utilities, Oil & Gas, Industrial, Renewable & Others; For Overhead And Underground Applications): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2016 – 2022" report at http://www.zionmarketresearch.com/report/low-voltage-cable-market
 

Intense Demand For Green Energy To Instigate Market Sales  

“Escalating demand for renewable energy and rapid industrialization is forecast to drive low voltage cable market trends,” says the author of this study. Apart from this, thriving automotive sector has further added towards the evolution of low voltage cable market.

Lack of funding along with delays in the project authorization, however, can restrict the development of low voltage cable market in the near future. Nevertheless, emerging trend of smart grid applications and easy availability of products at competitive pricing is anticipated to stimulate the demand for low voltage cable market over the ensuing years.

Global-Low-Voltage-Cable-Market

Flourishing Automotive Sector To Contribute Towards APAC’s Market Dominance

Regionally, Asia Pacific has been leading the worldwide low voltage cable market and is anticipated to continue on the dominant position in the years to come, states the low voltage cable market study. Flourishing vehicle sector and scarcity of power supply in the region leading to mammoth demand for electricity is the main factor behind the dominance of the Asia Pacific low voltage cable market. The high number of market players being headquartered in Asia Pacific is another significant factor that is supporting the growth of this regional low voltage cable market. In addition, large-scale sales of passenger vehicles, commercial vehicles, and two-wheelers will further lead to proliferation in the growth of low voltage cable market.

The global low voltage cable market is segmented as follows:

By End User

  • Infrastructure
  • Utilities
  • Oil & Gas
  • Industrial
  • Renewables & Others

By Application

  • Overhead
  • Underground

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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