“Cable and Accessories market projected to grow at a CAGR of 6.5% from 2016 to 2021”
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.
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“Utility sector to dominate the cables & accessories market within the industrial end-user segment during the forecast period”
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 upgradation 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.
“Wind sector within the renewables end-user segment to hold the major share of the cable and accessories market during the forecast period”
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.
Breakdown of Primaries:
Distribution of primary interviews is as follows:
• By Company Type: Tier 1- 56%, Tier2-24%, and Tier-3 -20%
• By Designation: C-Level-50%, Director Level-31%, and Others*-19%
• By Region: Europe:30-%, North America:- 20%, Latin America: 20%, Middle East & Africa: 20%, and RoW: 10%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies has been defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
Major leading players of this industry have been profiled with their recent developments and other strategic activities. The most active companies in the market include Prysmian S.p.A (Italy), General Cable Technologies Corporation (U.S.), Nexans (France), NKT Cables (Germany), and ABB Ltd. (Switzerland), among others.
Related Report:
Medium Voltage Cables & Accessories Market by Overhead (Conductors Fittings & Fixtures) Underground & Submarine (MI Cables XLPE Cables Cable Terminations Cable Joints) End-User (Infrastructure Industrial Renewables) & by Region - Forecast to 2021
The medium voltage cables & accessories market is expected to reach a value of USD 51.24 billion by 2021, at a CAGR of 6.4% from 2016 to 2021. Increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand T&D systems would drive the medium voltage cables & accessories market.
“Utility sector to dominate the medium voltage cables & accessories market within the Industrial end-user during the forecast period”
The utility sector represents the electrical infrastructure of a country, and includes the generation, transmission, and distribution of electric power. Developed countries are expected to focus their utility investments towards the refurbishment and upgradation of grid infrastructure. The emerging economies, on the other hand, are expected 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 medium voltage cables & accessories market.
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