The low voltage cable market analyst said smart grid systems incorporate automated software and electronic hardware such as meters, switches, and relays that guarantee smooth and appropriate transmission and distribution of electricity by upgrading and controlling operational processes over a network. —
Complete report on low voltage cable market spread across 66 pages, analyzing 5 major companies and provides 32 data exhibits is now available at http://www.reportsnreports.com/reports/496154-global-low-voltage-cable-market-2016-2020.html.
The analysts forecast global low voltage cable market to grow at a CAGR of 7.34% during the period 2016-2020. To calculate the market size, the report considers the demand for low voltage cables for overhead and underground installation. According to the Global Low Voltage Cable Market 2016 – 2020 report, a rising demand for electricity worldwide has fueled development in the power generation, transmission, and distribution sectors. The demand for equipment employed for these purposes such as low voltage cables is increasing with the growth in the generation and T&D infrastructure.
The APAC region dominated the market, accounting for more than 36% of the market share. Power, automobile, and railways are three major end-users of low voltage cables in APAC. Developments in these sectors will fuel demand for low voltage cables during the forecast period. The flourishing automotive industry in APAC also offers opportunities for market vendors to benefit from increased sales. China, India, Japan, and Indonesia are seeing growth in vehicle production in the region. With this rise in vehicle production, there will be an increase in demand for low voltage cables required for electrical interconnections in these vehicles.
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Currently, the Asia-Oceania automobile market is an attractive market for the low voltage cable manufacturers because of the significant demand for vehicles from the emerging economies in the region such as China and India.
Favorable market conditions such as rising demand from end-user industries have attracted many vendors to the market to cater to the demand for low voltage cables from end-user industries. The market has been seeing the presence of global as well as local vendors. Companies in this market prefer to work in collaboration with suppliers to ensure raw materials availability. The market analysts expect the competitive environment of the market to intensify during the forecast period, owing to numerous T&D network development, railway, and residential construction projects in pipeline worldwide.
Segmentation by product installation type and analysis of the low voltage cable market by Overhead and Underground.
The overhead installation segment accounted for more than 50% of the market share during 2015. The growth of this segment is facilitated by the rise in power generation, transmission, and distribution projects. Overhead installations are less expensive than underground lines, which involve additional expenses for digging ditches and installing the lines and conduits for low voltage cables.
Global Low Voltage Cable Market Main players are General Cable, Nexans, NKT Cables, Prysmian and Sumitomo Electric. Other Prominent Vendors in the market are: ABB, Bahra Advanced Cable Manufacture, Brugg Cables, Caledonian Cables, Dubai Cable Company, Encore Wire, Finolex, Hebei New Baofeng Wire & Cable, Kabelwerk Eupen, LS Cable & System, Polycab, Riyadh Cables, Southwire Company, TE Connectivity and Top Cable.
Further, the report states that the fluctuating prices of raw materials also become a major hindrance to vendors, as the volatility hampers their business plans regarding forecasting demand, developing and executing manufacturing plans, and managing inventories.
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