Wire And Cable Market to scope a estimate of US$834.5 mn by 2020

According to a recent market research report published by Transparency Market Research, the South Africa wire and cable market is anticipated to expand at a CAGR of 12% during the period from 2014 to 2020. The report, titled “Wire and Cable Market - South Africa Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” projects the South Africa wire and cable market to reach a valuation of US$834.5 mn by 2020.

In the industrial sector, wires and cables are an important constituent. Being a developing nation, South Africa has been investing heavily in the infrastructure sector. In 2012, the country adopted a National Infrastructure Plan and focused on upgrading existing infrastructure while constructing new electricity plants, ports, railway systems, roads, and others. Increasing capacity of the transmission grids across the nation has fuelled the demand for wires and cables.

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The report states that the rapid growth of the automobile industry in South Africa and rise in the number of local cable manufacturers has boosted the growth of the South Africa wire and cable market. Various initiatives taken by the government to support the growth of the infrastructure sector in the country has also supported the market’s growth. However, the growing concerns about the disposal and recycling of wires and cables might hinder the growth of the market. During the forecast horizon, the in-vehicle wiring applications are expected to drive demand for specialty automotive wire and cable.

Depending on voltage, the South Africa wire and cable market has been segmented into low voltage, medium voltage, and high voltage. The demand for low voltage wires and cables is the highest as low voltage wires and cables are used in a wide range of applications including electronic appliances, power distribution and transmission, buildings and communications, and automobiles.

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On the basis of product type, the report categorizes the South Africa wire and cable market into aluminum, copper, fiber optic, and others including nickel and steel. In 2013, the demand for copper wires and cables was the highest. The copper wire and cable segment is anticipated to drive the demand from the market owing to the increasing investments by the South African government into the infrastructure sector. Copper wires and cables are extensively used in power generation, telecommunication, distribution and transmission, and electronic circuitry.

In terms of application, the report segments the South Africa wire and cable market into communication, buildings, home appliances, power transmission and distribution, automotive, and others including aerospace, healthcare, and consumer electronics. The application of wires and cables is the highest across commercial and residential buildings. The rapid growth of the infrastructure sector in the country has boosted the demand for wires and cables.

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This release was published on openPR.