— David Correa
WILMINGTON, DELAWARE , UNITED STATES, October 22, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Insulated Wire and Cable Market by Material, Installation, Voltage, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global insulated wire and cable market size was valued at $160.54 billion in 2019, and is projected to reach $244.23 billion by 2027, to register a CAGR of 5.3% from 2020 to 2027.
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Insulated wire and cable are coated with an electrical insulator, which has wide range of application in almost all kinds of industries. These multi core cable are produced using high grade of raw material, which guarantee durability at its client end. Various insulated wires are used particularly in tools & electric machinery, represented by motors & transformers. In recent time, improvement has been made in both the level of performance, and miniaturization characteristics of these tools & machinery. These insulated wires are often used by bundling them into a very thin space.Polyvinyl Chloride and Semi-Rigid PVC are most widely used as a insulation wire and cable materials.
The global insulated wire and cable market is anticipated to witness significant growth during the period of forecast. Factors such as growth in urbanization and rise in investments toward infrastructure development projects worldwide growth of the insulated wire and cable market. The working of the whole world relies upon the timely delivery of electric supply. High usage of insulated wire and cable has been seen in power sector in the recent time. Further, the expanding population leads to rise in demand for power. However, growing wireless technologies is a major restraint to global insulated wire and cable industry. In addition, North American is expected to create opportunities for the insulated wire and cable industry, owing to vast increase in data consumption.
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The competitive environment of the insulated wire and cable industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, insulated wire and cable market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the insulated wire and cable industry include:
⦁ AFC Cable Systems Inc
⦁ Alpha Wire
⦁ Amphenol Corporation
⦁ Fujikura Ltd.
⦁ General Cable Technologies Corporation
⦁ SAB Bröckskes GmbH & Co. KG
⦁ Southwire Company LLC
⦁ Sumitomo Electric Industries Ltd.
Economically developed nations tend to witness high penetration of insulated wire and cabletechnology in energy & power. Reasonssuch as switching toward the adoption of underground cables as a replacement for of overhead cables, incentives in the Union Budget worldwide, owing to COVID-19 pandemiccontribute toward the insulated wire and cablemarket growth in the coming years.
Region wise, the insulated wire and cablemarket trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA.Asia-Pacific contributed maximum revenue in 2019. Also, between 2019 and 2027,the market in Asia-Pacificis expected to grow at a faster rate as compared to other regions. This is attributed to increase in investment from the emerging economical countries such as India, China, Japan, Australia, andSouth Korea.
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Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global insulated wire and cable market size along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall insulated wire and cable market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The current insulated wire and cable market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and the insulated wire and cablemarket share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.
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