Metallic Cables Market - Global Forecast and Industry Analysis by Technavio

  Metallic Cables Market - Global Forecast and Industry Analysis by Technavio

Business Wire

LONDON -- July 20, 2017

The global metallic cables market  is expected to grow at a CAGR of more than
3% during the forecast period, according to Technavio’s latest report.

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Technavio has published a new report on the global metallic cables market from
2017-2021. (Photo: Bu ...

Technavio has published a new report on the global metallic cables market from
2017-2021. (Photo: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of
the global metallic cables market  for 2017-2021. The market is segmented
based on product, which includes metallic power cables and metallic
communication cables.

Metallic cables are used for transmitting electronic signals in different
processes. The primary demand for metallic cables comes from the process,
renewable energy, thermal power generation, and telecommunication industries.
The metallic cables market is likely to grow at a steady rate during the
forecast period.

Technavio’s  heavy industry research analysts categorize the global metallic
cables market into the following segments by regions:

  * APAC
  * EMEA
  * Americas

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APAC: largest metallic cables market

“Growing economies such as India and China will witness a huge power demand
due to growing industrialization and economic development activity. The growth
in industrialization and economic development has propelled the demand for
power in these nations,” says Anju Ajay Kumar, a lead analyst at Technavio for
research on engineering tools.

APAC is hugely dependent on coal for its power needs. Coal will continue to
dominate the power generation mix in the region till 2035. As per the Asian
Development Bank, the region itself is reducing its reliance on coal and is
shifting toward less carbon-emitting sources such as nuclear and natural gas.
Emerging economies in the region need more efficient and reliable power to
sustain economic growth as well as to protect the environment.

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Metallic cables market in EMEA

“In EMEA, Europe accounts for the highest market share in the region. The
market in Europe is a mature market, and a moderate growth is expected in the
next five years. The demand for metallic cables will primarily be driven by
the railways, communication, and power generation sectors in Europe,” adds
Anju.

The European railway sector contributes significantly to the industrial
development in the region and holds a dominant position among all the
industrial sectors. The expansion of railway networks will propel the demand
for metallic communication and power cables market.

Metallic cables market in the Americas

The Americas, which accounted for the least market share in the metallic
cables market in 2016, is majorly driven by market dynamics in regions such as
the US, Mexico, and Canada. The Americas is expected to witness the slowest
growth rate when compared with other regions such as APAC and EMEA.

The major demand for metallic cables in the Americas is expected to arise from
the power generation sector. The Americas generate a large amount of
electricity from renewable energy sources that require the transmission of
electricity. After China, the US, Brazil, and Canada have an abundance of
renewable energy sources.

The top vendors in the global metallic cables market highlighted in the report
are:

  * Prysmian Group
  * Nexans
  * General Cable
  * NKT
  * Sumitomo Electric Industries

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Global metallic cables market is expected to grow at a CAGR of more than 3%
from 2017-2021. @Technavio

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