Electric Wire and Cable Market in India 2016-2020
About Electric Wire and Cable
An electric wire is a flexible metal strand insulated with a dielectric material used as a conductor of electricity. A cable comprises two or more wires, which are bonded, twisted, or braided together. Wires and cables are encapsulated in non-conducting plastic materials, especially polyvinyl chloride (PVC) or polyethylene (PE) to protect users and the surrounding environment.
Technavio’s analysts forecast the electric wire and cable market in India to grow at a CAGR of 15.61% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the electric wire and cable market in India for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top four vendors in the electric wire and cable market in India.
Technavio's report, Electric Wire and Cable Market in India 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Electric Wire and Cable Market in India 2016-2020
Technavio recognizes the following companies as the key players in the electric wire and cable market in India: Finolex Cables, Havells India, KEI Industries, and Polycab Wires.
Other prominent vendors in the market are: Cable Corporation of India, Apar Industries Limited, Cords Cable Industries, KEC International, LS Cable India, Shilpi Cable Technologies, Universal Cable, and V-Guard Industries.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increase in sales of HVDC power cables. HVDC underground power cables have become viable options for long distance and high-voltage safe power transfer. HVDC power systems provide a viable option for long distance bulk power delivery. The European Commission has selected 43 major energy projects to build cross-border infrastructure to create an internal energy market and enhance the security of energy supply. For these projects, high loads of electricity would be required to be transferred from one country to another. HVDC cables are expected to become a viable option for such assignments in the future. India is likely to follow this trend during the forecast period. In addition, these HVDC light cables find preference over their AC counterparts, especially in submarine power transmission, due to their lightweight and dimensions.”
According to the report, one of the primary drivers in the market is growth in renewable power generation in India. A huge emphasis is given to the commercialization of renewable energy worldwide, which will create an enormous demand for electric wire and cables. This is because most of these renewable energy resources are set up in places where proper T&D infrastructure is not available. Future expansion of existing networks worldwide is also expected. These expansion activities are fueled by emerging economies such as India, which are on the verge of integrating regional grids to form a nationwide electric grid network to allow a seamless flow of electricity. All this calls for extensive T&D infrastructure development activities.
Further, the report states that one major challenge in the market is compliance to regulations. Electrical wire and cable manufacturers in India are required to comply with various safety rules and regulations for the installation of power cable systems. These regulations are scripted and decided by regulatory bodies such as American National Standards Institute (ANSI), International Electrotechnical Commission (IEC), and Institute of Electrical and Electronics Engineers (IEEE). The rules vary depending on the circuit voltage, temperature rating, and environmental conditions.
Finolex Cables, Havells India, KEI Industries, Polycab Wires, Cable Corporation of India, Apar Industries Limited, Cords Cable Industries, KEC International, LS Cable India, Shilpi Cable Technologies, Universal Cable, V-Guard Industries.
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