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Power and Control Cable Market Is Set To Experience Revolutionary Growth with latest Technology By 2026
Power and Control Cable Market
The global Power And Control Cable Market is valued at 100 Million USD in 2019 and is expected to reach 190 Billion USD by the end of 2026.Over the past years, the global electric power consumption has witnessed a healthy growth rate of over 5% with China accounting for more than 40% of the total demand. The exponentially increasing electricity demand worldwide is leading to significant investments to enable optimized transmission and distribution with minimal energy wastage. Consequently, power and control cable market is set to record a massive business expansion over the coming seven years.
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Based on the types of voltages, power and control cable market is segmented in low, medium, and high cables. The low voltage (LV) power and control cable market is estimated to register a CAGR of 9% over the period of 2016-2024, subject to its growing deployment across small scale manufacturing units and residential sector. On the other hand, the high voltage power and control cable industry will be primarily driven by the need to carry bulk electricity from main station to substations. Increasing need for uninterrupted power supply and bulk transfer of power energy with minimal line loss has also stimulated the global power transmission lines & towers market to grow at 6% CAGR from 2016-2024.
Russia power and control cable market is flourishing, owing to the intensive measures taken for the development of smart grid infrastructure in the region. Another country contributing majorly to power and control cable industry demand is Turkey, which accounted for USD 2 billion in 2016. This country has always been a preferred choice for the market giants because of the greater market proximity and its ideal geographical location.
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Taking into consideration the application landscape of power and control cable market, the utility sector is set to cross a USD 90 billion mark by 2024. This segment is booming due to the growing demand for LV distribution substation for the development of smart cities.Apart from utility, the industrial power and control cable market is likely to grow at a rate of 8% over the period of 2016-2024. Rising demand for captive power generation in industries has a positive impact on the expansion of industrial application of power and control cable market.
Partial Table of Contents (ToC) of the report:
Chapter 4 Power and Control Cable Market, By Product
4.1 Global power and control cable market share by product, 2019 & 2026
4.2 Power Cable
4.2.1 Global market from power cable, 2015 - 2026
4.2.2 Global market from power cable, by region 2015 - 2026
4.3 Control Cable
4.3.1 Global market from control cable, 2015 - 2026
4.3.2 Global market from control cable, by region 2015 - 2026
Chapter 5 Power and Control Cable Market, By Voltage
5.1 Global power and control cable market share by voltage, 2019 & 2026
5.2 HV
5.2.1 Global market from HV, 2015 - 2026
5.2.2 Global market from HV, by region 2015 - 2026
5.3 MV
5.3.1 Global market from MV, 2015 - 2026
5.3.2 Global market from MV, by region 2015 - 2026
5.4 LV
5.4.1 Global market from LV, 2015 - 2026
5.4.2 Global market from LV, by region 2015 - 2026
5.4.3 LV power cable
5.4.3.1 Global market from LV power cable, 2015 - 2026
5.4.3.2 Global market from LV power cable, by region 2015 - 2026
5.4.4 LV control cable
5.4.4.1 Global market from LV control cable, 2015 - 2026
5.4.4.2 Global market from LV control cable, by region 2015 - 2026
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/power-and-control-cable-market
The intensive measures taken in order to develop EHV and UHV network along with micro grid has augmented the U.S. power and control cable industry share.However, the adoption of wireless power transmission technologies will, to an extent, limit the growth of power and control cable market. But the dynamically changing grid infrastructures and exponentially rising power demand are certain to keep the power and control cable market demand radical.
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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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