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  • 26 September 2018 20:41

Cable And Accessories Market Growth key Factor Is Rising Demand For Electricity

Global Cable and Accessories Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Cable and accessories are an important part of the power cable systems and are widely used in the distribution and transmission of electricity. Cables are an assembly of one or more insulated electrical conductors to serve in single phase or three phase systems. Cables are made up of three basic parts such as conductor, shielding and connector. These cables and accessories include cable joints, connector systems, terminations, and so on.

Increasing urbanization, growth in industrialisation and rising demand for electricity are key factors propelling growth of the global cable and accessories market. Increasing government activities to update and extend current transmission distribution infrastructure, and growing infrastructure developments in emerging economies are other factors expected to propel growth of the global cable and accessories market over the forecast period.

Shifting inclination towards conventional sources of renewable energy, and development in wire insulation technologies further expected to prove as a growth opportunity for the global cable and accessories market over the forecast period.

However, fluctuating raw material prices such as aluminium, and copper is a key factor restraining growth of the global cable and accessories market. Additionally, lack of skilled workforce to handle high voltage (HV) projects, and environmental stress such as extreme temperatures affect cable materials – with low temperature making cables brittle and high temperatures causing them to become very soft – are other factors expected to hamper growth of the global cable and accessories market over the forecast period.

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