Factors such as increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand transmission & distribution systems would drive the LV & MV cable and accessories market.
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The report "Cable and Accessories Market by Overhead (Conductors, Fittings & Fixtures), Underground (PVC Cables, XLPE Cables, Cable Terminations, & Joints), Submarine (XLPE Cables, MI Cables, Cable Terminations & Joints) and End-User - Global Forecast to 2021", The global cable and accessories market is projected to grow from an estimated USD 147.53 billion in 2016 to USD 202.07 Billion by 2021, registering a CAGR of 6.5%.
Browse 163 market data Tables and 60 Figures spread through 259 Pages and in-depth TOC on "Cable and Accessories Market - Global Forecast to 2021"
Infrastructure segment to dominate the LV cables & accessories market
The cable and accessories market has been categorized, by installation, into three segments, namely, industrial, infrastructure, and renewables. The infrastructure sector held more than half of the LV cables & accessories market share in 2015.
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This growth can be attributed to increasing urbanization and continuing demand from commercial users, especially in the emerging economies. The industrial sector held around half of the MV cable and accessories market share in 2015.
Growth in construction would eventually increase the number of MV cables & accessories being used in the construction process. These factors drive the cable and accessories market.
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Overhead segment is expected to hold the major market for LV cables & accessories
On the basis of installation, the LV cable and accessories market has been segmented into underground and overhead. The overhead sector dominated the market, followed by underground in 2015.
Further, the MV cable and accessories market, based on installation, has been segmented into underground, overhead, and submarine. In 2015, the underground sector dominated the market, followed by overhead.
Continuous refurbishment of LV & MV voltage cables & accessories is essential in the underground segment. They have to be replaced in order to maintain the cables according to the soil condition.
Therefore, the market for LV & MV cables & accessories in the underground segment is expected to grow at the highest CAGR during the forecast period.
Asia-Pacific would see the highest growth for cable and accessories market
The report covers five regions, namely, Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to witness a high-growth rate for cables & accessories from 2016 to 2021.
Moreover, increase in renewable power generation would drive the LV & MV cable and accessories market.
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).
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