Press release
Wire and Cable Market - Expected to Reach USD 834.5 million by 2020
Wires and cables find application in other industries as well such as automobiles, power transmission & distribution, electronics and communication industries among others.
Increasing developments in the power transmission and distribution sector has further supported the market growth. The adoption of wire and cable in communications segment has additionally supported the growth of the market. The demand for wire and cable can also be attributed to the growing demand of automobiles where the wires and cables are used in different applications.
The growing automobile industry in the country has not only contributed to the growth of the wire and cable market but has also additionally supported the growth of the local cable manufacturers. The growing demand of electronic devices has also contributed to the growth of the wire and cable market.
Based on types, copper wire and cable held the largest share in the market in 2013. The demand for copper wire and cable is primarily driven by the growing developments in power generation, distribution and transmission, electronic circuitry, telecommunications and several other types of electrical equipment in the country.
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The demand for copper wire and cable is expected to expand with the increase in demand of automobiles vehicles in the country. Some of the automobile component manufacturers based in South Africa are Corning, Arvin Exhaust, Senior Flexonics and Bloxwitch.
Based on voltage, low voltage wires and cables held the largest market share followed by high voltage. The growth in the low voltage wire and cables is attributed to the increasing applications across electronic goods, industrial and housing applications, railways, airports and power transmission & distribution in the country.
The market for low voltage wires and cables in the country is also supported by the increasing need for the enhanced safety of public/residential buildings.
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TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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