Press release
Power Cable Market to Achieve Remarkable Growth Powered by Profitable Industry Trends
Increase in investments toward the development of transmission infrastructure to carry bulk electricity from generating stations to substation is the key factor that drives the Power Cable Market growth. A smart grid consists of an automated, widely distributed network for energy delivery with responsive and organic capabilities. Thus, rise in development of smart grid fuels the growth of the power cable market. With increase in demand for power all over the world, the power supply entities are trying to fulfill the demand. This in turn provides opportunity for the market growth.
The major companies profiled in the power cable market share include Prysmian Group, Nexans, Sumitomo Electric, Furukawa, General Cable, Southwire, Leoni, LS Cable & Systems, Fujikura, Far East Cable, and others.
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In addition, expansion and upgradation of transmission and distribution network and rise in investments toward the development of extra high voltage (EHV) and ultra-high voltage (UHV) network drive the growth of the market. However, the fluctuating prices of raw materials are expected to restrain the market growth.
The power cable market is very competitive and various players are present in the market. Business acquisition and business expansion are the strategies which has been adopted by the top players in the market. Prysmian is one of the key player in the market. For instance, Prysmian have completed acquisition of General Cable. Generable Cable is also a key player in the power cable market.
The significant impacting factors for the growth of the power cable market include rapid industrialization in the developing countries, increase in power and energy consumption, and rapid urbanization all over the world. In addition, the restraining factor by which the market is influenced includes fluctuating prices of raw material. Each of these factors is anticipated to have a definite impact on the power cable market during the forecast period.
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The power cable industry is segmented based on type, application, and region. Based on type, the market is categorized into high voltage power cables, medium voltage power cables, and low voltage power cables. By application, it is divided into overland, underground, and submarine. Based on region, the market is analyzed across Europe, Asia pacific, North America, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the power cable market trends with current trends and future estimations to depict the imminent investment pockets.
The overall potential is determined to understand the profitable trends to gain a stronger foothold in the power cable industry.
The power cable market analysis report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
The current market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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KEY MARKET SEGMENTS
By Type
High Voltage Power Cables
Medium Voltage Power Cables
Low Voltage Power Cables
By Application
Overland
Underground
Submarine
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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