Wire And Cable Market in Asia Pacific to witness robust expansion through 2026

Asia Pacific wire and cable market will grow as increasing demand for stable power supply. Emerging economies in the region will observe traction for renovation of conventional grid networks. Not to mention, profound installation of wind and large scale solar projects has boded well for the industry size expansion.

Notable trend for renewable energy sources will be in line with the footprint of smart grid integration of green energy systems. The development of new electric infrastructure and robust government policies will augment the use of wires and cables in the region. According to an estimate, wire and cable market in Asia Pacific size is forecast to witness a considerable expansion by 2026.

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The trend for coaxial wire and cable will be noticeable owing to an upsurge in the number of internet and service providers for audio and video data. It is worth noting that these cables have gained impetus owing to their high durability and ease of installation. Besides, transmission of massive data sets at a breakneck speed has augmented the use of coaxial wires and cables across the end-use applications.

End-markets such as industrial, commercial and utility sectors have exhibited increased inclination for medium voltage wire and cable. A considerable chunk of funds in grid expansion and the demand for reliable and uninterrupted electric supply will pan well for APAC wire and cable market size expansion.

With the demand for bulk power transmission soaring across the region, APAC is likely to exhibit traction for high voltage cables. Moreover, rising footfall of HVDC systems will augment the product demand in India, China and Japan. It is pertinent to mention that the installation of high voltage cables will boost the power network.

Considering the trend for trade shows and live concerts, entertainment sector will play an instrumental role in boosting the market presence of wire and cable products. Several companies are counting on recreational activities and live event as a precursor to launch their products. The entertainment sector has gained ground from technological advancement, auguring well for leading companies vying to boost Asia Pacific wire and cable market outlook.

The automotive sector will remain catalyst in bolstering the industry outlook on the heels of innovations and surge in discretionary income. Emerging economies are likely to witness the penetration of heavy commercial vehicles across e-commerce and logistics industry. Similarly, stakeholders have upped their focus on sustainability, furthering investment in HEVs and BEVs. The market share from the automotive segment will witness an appreciable growth by 2026.

China is likely to provide revenue boosting opportunities in the backdrop of adoption of renewable technologies to contain the carbon emissions. In addition, robust government policies focusing on effective and sustainable infrastructure will expedite the foothold of wire and cable. Needless to say, tendency to reduce T&D losses for smooth and stable electricity transmission will bolster the product adoption.

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Stakeholders will augment investments in India wire and cable market owing to exponential demand from the industrial sector. Besides, the demand for high speed data services and improved telecom services will stimulate the demand for wire and cable in the region. Notably, Government of India had set an audacious target of achieving 100 GW solar power by 2022.

Industry players are likely to propel strategic partnerships and mergers and acquisitions in wire and cable market in APAC. Key market manufacturers are Parker Hannifin Corporation, KEI Industries Limited, Polycab, Prysmian group, Brugg Kable AG and Sumitomo Electric Industries Limited.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Research Methodology

1.2    List of Data Sources

1.2.1    Primary

1.2.2    Secondary

Chapter 2   Market Snapshot

2.1    Asia Pacific wire and cable market snapshot

Chapter 3   Asia Pacific Wire and Cable Trends

3.1    Industry coverage

3.2    Industry size & forecast, 2015 – 2026

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    Innovation Landscape

3.5    COVID-19 impact on the industry outlook

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis – Porter’s

3.9    Product growth mapping

3.10    Competitive benchmarking, 2019

3.10.1    Strategy dashboard

3.11    PESTLE analysis

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