Press release
Power And Control Cable Market 2019-2024 By Top Companies General Cable, Prysmian Group, Nexans, Furukawa Electric LatAm, Southwire Company, Polycab, Havells, Sumitomo Electric, LS Cable & System
Power And Control Cable
Global Power And Control Cable Market is set to witness growth over 9% and surpass USD 180 billion by 2024. Increasing investments by developing countries toward infrastructure and construction sector will augment the industry landscape. Establishment of smart city initiatives across developing nations including India, China and UAE will further augment the business outlook.
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In 2015, the National Development Bank of China entered in an agreement with the Ministry of Housing and Urban-Rural Development and announced an investment of over USD 13.6 billion towards the advancement of national smart cities.
Power and control cable market in Asia Pacific is projected to exceed USD 100 billion by 2024. Continuing rural electrification programs coupled with increasing demand for reliable electricity will augment the business growth in the country. Growing industrialization along with positive outlook towards clean energy generation will further boost the product demand.
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Adoption of microgrid systems and favorable government strategies toward expansion of transmission and distribution networks to interconnect sustainable sources with the state and central grids will enhance the MV power and control cable market. In 2016, the U.S. Department of Energy (DOE) announced a Grid Modernization Multiyear Program Plan to convert traditional grid architecture to improved, reliable, cost effective and resilient grid system.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Prysmian
• Nexans
• Sumitomo Electric Industries
• LS Cable & System
• General Cable
• Furukawa Electric
• Southwire
• Polycab
• CMI
• Havells
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UK power and control cable market is projected to increase above 3% by 2024. Government policies to alter the fossil fuel generations to clean energy sources will complement the business landscape. In 2017, the UK National Grid and Reseau de Transport d'Electricite (RTE) awarded a contract worth above USD 710 million to ABB and Prysmian Group to provide converter stations and power cables for interconnecting electric networks between UK and France.
Power and control cable market share in the Middle East & Africa is anticipated to upsurge above 7% by 2024. Rising investments towards renovation of war affected countries coupled with development of T&D network will enhance the industry landscape. As per Siemens, the region is expected to expand its existing electricity generation capacity by 66% over the span of 15 years.
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.
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Global Market Insights, Inc.
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