Global Wire and Cable Market at A Highest CAGR of 6.45 % to rapidly growing $ 332.65 billion With Le
Posted: Nov 16, 2019
Global Wire and Cable Market By Voltage (Low, Medium, High, Extra High), Installation (Overhead, Underground), End-Use (Aerospace & Defense, Automotive, Building & Construction, Oil & Gas, Energy & Power, IT & Telecommunication, Others), Material (Copper, Aluminium, Glass, Others)Market Analysis: Global Wire and Cable Market
Global Wire and Cable Market is expected to rise from its initial estimated value of USD 201.76 billion in 2018 to an estimated value of USD 332.65 billion by 2026, registering a CAGR of 6.45% in the forecast period of 2019-2026. Increasing demand of wire and cable from various end- users is the major factor for the growth of this market.
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Wire is a piece of metal that is used to carry electric current on the other hand cable contain number of wires inside a plastic or rubber which is used to carry electric signals. Copper, aluminium, plastics and alloys are the material which is used to make this wires and cables. They are widely used in industries like defence and gas, oil, automotive etc. These days, due to increasing residences and houses in the developing countries, there is increase in the use of the wires and cables.
- Rising urbanization and industrialization in developing countries are driving the growth of this market
- Growing demand for self-governing vehicles is another factor driving the growth of this market
- High cost of the raw material is restraining the growth of this market
- Increasing investment issue faced by the manufacturer is another factor restraining the growth of this market
Segmentation: Global Wire and Cable Market
- By Voltage
- Extra High
- By Installation
- By End- Use
- Aerospace & Defense
- Building & Construction
- Oil & Gas
- Energy & Power
- IT & Telecommunication
- By Material
Key Developments in the Market:
In February 2016, Shilpi Cable Technologies Limited announced the launch of their Wires and switchgear products under their new SAFE brand. This consist of modular switches, cables, DBs, MCBs etc. The main of the launch is to expand their business and provide safe products to the customers.
In January 2018, PIC Wire & Cable announced the launch of their new cable RFMATES ULTRALITE UH25107 which is lighter and cheaper than the other traditional wires. They are specially designed for the systems which require less DB loss budgets for antenna runs. The main aim is to provide high quality wire and cables to the customers.
Global Wire and Cable Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wire and cable market for global, Europe, North America, Asia-Pacific and South America.
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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.