Selbyville, Delaware, Nov. 19, 2020 (GLOBE NEWSWIRE) --
Global wire and cable market is projected to surpass USD 260 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rising inclination towards the adoption of high speed data services coupled with the soaring demand for IoT and smart devices will fuel the wire and cable industry size.
Coaxial wire and cable demand will witness considerable growth due to their ease of installation and high durability. These cables are widely installed by internet and service providers for efficient transmission of audio and video data, which in turn will enhance the market growth. In addition, the ability to transfer large data sets at substantial speeds will further promote the adoption of these cables across the globe.
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Low voltage wire and cable demand is set to witness substantial growth on account of their wide installation across consumer electronics, automotive and telecommunication sectors. These cables are available in a large variety and usually ranges up to 1,000 V. The growing demand for the affordable and efficient power supply along with the proliferating electronics and communication industry will further complement the business outlook.
Few major findings of the wire and cable market report include:
- Rapid investments toward the expansion of smart grid infrastructure pertaining to growing electricity demand from commercial and residential establishments will fuel the industry outlook.
- Modernization of the grid networks through the integration of innovative technologies, equipment, and controls will enhance the business outlook over the forecast timeframe.
- Growing integration of renewable energy coupled with increasing growth across industrial sector will augment the business trends.
- Favourable telecom mandates have substantially made the data tariffs more economical which will further enhance the industry outlook.
- Ongoing programs related to modernizing power grids are anticipated to stimulate new investments toward the expansion of T&D networks, which will fuel the product demand.
- Eminent players operating across wire and cable market include, Sumitomo Electric Industries Limited, NKT A/S, KEI Industries Limited, and Riyadh Cables Group Company amongst others.
Browse key industry insights spread across 400 pages with 392 market data tables & 45 figures & charts from the report, “Wire and Cable Market Statistics By Product (Coaxial Cable/Electronic Wire, Fibre Optics Cable, Power Cables, Signal & Control Cable, Telecom & Data Cables), Application (Food & Beverages, Automotive, Material Handling & Logistics, Entertainment/Leisure, Utilities, Railways, Consumer Electronics, Building Infrastructure, Others), Voltage (Low, Medium, High), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/wire-and-cable-market
Wire and cable demand across building infrastructure will witness growth on account of growing investments toward expansion of commercial and residential infrastructure. Increasing migration from developing nations will further bolster investments in the real estate industry which will enhance the demand for low voltage insulated wires and cables. Moreover, the regulatory focus on the development of green building infrastructure will create significant opportunities for the industry players over the forecast timeline.
Asia Pacific wire and cable marke are projected to register over 6% CAGR through 2026. Rising adoption of consumer electronic coupled with growing population will enhance the product penetration across the region. The expanding electrification across rural and remote areas have necessitated ended a requirement of effective T&D infrastructure, which in turn will propel the market demand for the wire & cable industry.
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https://www.gminsights.com/industry-analysis/offshore-wind-cable-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.