Press release
South Africa Wire and Cable Market: Worldwide Industry Analysis and New Market Opportunities Explored
Expanding at a CAGR of 12.0% from 2014 and 2020, the South Africa wire and cable market is projected to reach US$834.5 mn by the end of forecast period.
Low-Voltage Wires and Cables to Witness Substantial Demand in Housing Sector
Based on the type of material used, the South Africa market for wire and cable is segmented into copper, aluminum, and fiber optic.
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Of these, the segment of copper wires and cables dominated the South Africa market in 2014 and is expected to retain its lead throughout the forecast period. The substantial demand for copper wires and cables in South Africa is attributed to their application in the area of power generation and distribution.
On the basis of voltage, the South Africa market for wire and cable is segmented into low, medium, and high voltage wires. Of these, the low voltage wires and cables segment dominated the market and is projected to grow at a substantial pace over the forecast period. The growth of the segment is primarily driven by their soaring applications in consumer electronic goods and across industrial and housing sectors.
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Application of Wires and Cables in Making Automobile Components to Boost Market
The strides made by infrastructure sector in South Africa has propelled the demand for wires and cables in several end-use industries such as power transmission and distribution, automobiles, electronics, and communication. Robust developments in the power transmission and distribution sector in South Africa has catalyzed the growth of the market. This has led to a large number of applications in making electric and electronic circuits in the utility sector in the nation.
A burgeoning automobile sector has led to the soaring demand for low-voltage wires and cables in making a variety of automobile components. In addition, the large presence of automobile component manufacturers in South Africa is anticipated to accentuate the market in the coming years.
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Growing need for the enhanced safety of public and residential buildings in South Africa has stimulated the demand for cables and wires. In addition, the growing uptake of consumer electronic devices in the country has boosted the market.
Intensive initiatives by South African Government in providing adequate housing to its citizens has led to an accelerated demand for wires and cables in the building and construction sector. Furthermore, the rise in telecommunication sector is also expected to open up exciting opportunities for market players in the coming years.
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