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A few days ago, ResearchAndMarkets, an international market research institution, released a report that by 2023, the global cable accessories market will reach $61 billion, with a compound annual growth rate of nearly 5.
6%.
According to the report, in 2017, the global cable accessories market reached $44 billion
.
With the global major shift to renewable energy sources such as solar, wind or tidal power, creating a demand
for weather-resistant and durable cables and related cable accessories.
At the same time, the growing demand for HVDC transmission and the government's goal to upgrade existing infrastructure have stimulated further demand for cable accessories such as connectors and end-mounting accessories
.
However, despite these drivers, this market is constrained by limited funding, high raw material prices, and poorly planned delayed implementation
.
From the perspective of voltage level, it includes low-voltage cable accessories, medium-voltage cable accessories and high-voltage cable accessories
.
Among them, low-voltage cable accessories are the most popular product type
.
The report covers Asia Pacific, Europe, North America, Latin America, the Middle East and Africa
.
Currently, the Asia-Pacific region is the largest region, accounting for the vast majority
of the global total.
From the perspective of enterprises, Prysmian (acquisition of General Cable), Nexans, Actet, ABB Group, LS Cable, Sumitomo Electric and Korean Wire will become the world's leading cable accessories suppliers
.
A few days ago, ResearchAndMarkets, an international market research institution, released a report that by 2023, the global cable accessories market will reach $61 billion, with a compound annual growth rate of nearly 5.
6%.
According to the report, in 2017, the global cable accessories market reached $44 billion
.
With the global major shift to renewable energy sources such as solar, wind or tidal power, creating a demand
for weather-resistant and durable cables and related cable accessories.
At the same time, the growing demand for HVDC transmission and the government's goal to upgrade existing infrastructure have stimulated further demand for cable accessories such as connectors and end-mounting accessories
.
However, despite these drivers, this market is constrained by limited funding, high raw material prices, and poorly planned delayed implementation
.
From the perspective of voltage level, it includes low-voltage cable accessories, medium-voltage cable accessories and high-voltage cable accessories
.
Among them, low-voltage cable accessories are the most popular product type
.
The report covers Asia Pacific, Europe, North America, Latin America, the Middle East and Africa
.
Currently, the Asia-Pacific region is the largest region, accounting for the vast majority
of the global total.
From the perspective of enterprises, Prysmian (acquisition of General Cable), Nexans, Actet, ABB Group, LS Cable, Sumitomo Electric and Korean Wire will become the world's leading cable accessories suppliers
.
