San Francisco, Aug 23, 2017: A new study by TMR Research on the market for power transmission and distribution cables states that the continuously augmenting demand for power across the world. The technological advancements in distribution infrastructure and the development in power transmission infrastructure, globally, is also supporting this market considerably.
The report, titled “Power Transmission and Distribution (T&D) Cable Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017–2025,” presents an all-inclusive assessment of this market on the basis of the prominent trends and factors.
According to this research report, the increasing focus towards the generation of electricity by renewable sources of energy and the increasing number of initiatives by various governments across the world for the upgradation of power transmission units are likely to boost the worldwide power transmission and distribution cables market in the near future.
Going forward, the increasing investments in the development of the infrastructures related to power generation, transmission, and distribution is projected to aid to the market’s growth in the years to come. However, the volatile prices of raw materials used for the manufacturing of these cables may pose a threat to the progress of this market over the forthcoming years. Nonetheless, the augmenting need to upgrade the aging transmission and distribution infrastructure is anticipated to bolster the demand for these cables in the near future, reports the study.
On the regional basis, the worldwide power transmission and distribution cables market has been segmented into the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. With the increasing shift towards renewable energy sources for power generation, North America has emerged as the leading regional market for power transmission and distribution cables in the world.
The continual increase in the usage of superconductors and high voltage direct current (HVDC) technology is likely to boost the market for power transmission and distribution cables in North America over the next few years, ensuring its dominance over other regional markets. Asia Pacific is also anticipated to witness high growth in the near future, owing to lesser cost of manufacturing cables and strong economic growth, states the research report.
In conclusion, the report presents a competitive analysis of the business landscape of the global market for power transmission and distribution cables by reviewing the profiles of the leading players operational in this market. As per the research study, Coleman Cable Inc., Siemens AG, RPG Cables Ltd., Southwire Co., Hitachi Cable Ltd., Havells India Ltd., Nexans SA, and ABB are the key vendors of power transmission and distribution cables across the world.
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