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Cable and Accessories Market To grow at a +6% CAGR by 2021 examined in new market research report

Press Release   •   Jan 18, 2017 01:30 EST

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" projects the market to grow at a CAGR of +6% by 2021. The market to hit $147.53 Billion

This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global Cable and Accessories Marketalong with the estimates and forecasts of the revenue and market share analysis.

The cable and accessories market is expected to reach a size of USD 202.07 billion by 2021, at a CAGR of 6.5% from 2016 to 2021. Increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand T&D systems would drive the LV & MV cable and accessories market. As transmission & distribution projects are capital intensive in nature, complex funding and authorization required for such projects is a restraint of this market.

Browse 163 market data Tables and 60 Figures spread through 259 Pages and in-depth TOC on "Cable and Accessories Market" http://www.rnrmarketresearch.com/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-en-st-to-2021-market-report.html

The utility sector represents the electrical infrastructure of a country, and includes generation, transmission, and distribution of electric power. Developed countries are expected to focus their utility investments towards the refurbishment and up gradation of grid infrastructure. Emerging economies, on the other hand, are expected to spend their utility investments primarily towards expansion of utility infrastructure. Increasing investments in the utility sector is expected to increase the requirement for equipment used in grid infrastructure, such as power cables, transformers, and insulators. Furthermore, inclusion of progressive technologies, such as co-generation and combined generation in this sector, is further expected to boost the growth of the LV & MV cable and accessories market.

Globally, the capacity of wind energy is expected to reach around 792.1 GW by 2020. This capacity is further expected to reach nearly 2,000 GW by 2030, contributing approximately 19% to the global electricity generation. Global investments in wind energy are expected to reach USD 414.85 million by 2030. These investments will lead to the installation of nearly 76,000 grid-connected turbines worldwide by 2030. This is expected to boost the demand for LV & MV cables used to connect the generated wind power to the grid.

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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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The report includes analysis for key countries by installation of LV & MV cable and accessories, namely, industrial, infrastructure, and renewable. It analyzes historical trends and forecasts for 2021, assisting in strategic decision making. It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps in understanding the competition’s strategies and plan respective initiatives.

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