Global Overhead Cables Market 2017-2021
About Overhead Cables
Cables are a collection of electrical conductors that are insulated. These are used for transmission and distribution purposes. Overhead cables are installed above buildings and between electric poles. There is a presumption that underground cables are more reliable as they are less prone to damage from storms, lightning, and other disruptions. However, underground cables involve a difficult installation process. The cost of installation is also high when compared with overhead cables, which makes the latter a preferred choice among industries that need electricity.
Technavio’s analysts forecast the global overhead cables market to grow at a CAGR of 5.92% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global overhead cables market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Overhead Cables Market 2017-2021
Technavio recognizes the following companies as the key players in the global overhead cables market: General Cable, Nexans, NKT Holding, Prysmian Group and Sumitomo Electric Industries.
Other Prominent Vendors in the market are: LS Cable & System, Southwire, Hangzhou Cable, TPC Wire & Cable, Hengtong Group, Belden, Encore Wire, Finolex Cables, International Wire Group and KEI Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is expanding railway industry. Power cables are used for power transmission for rail systems. Owing to technological innovations, the global railway industry has undergone changes in the recent past. Growing population and expanding metropolitan areas have resulted in increased demand for railways.”
According to the report, one driver in the market is increased renewable power generation. Overhead power cables are used at large to transmit electricity generated from power plants. The growing concerns of shifting to renewable energy sources have led to an increase in electricity generation from wind turbines, solar power, and others. This has led to the demand for new installations of overhead cables. Renewable energy is the fastest growing source of electricity generation. The amount of electricity generated from renewable energy sources is growing by more than 2.5% per year.
Further, the report states that one challenge in the market is fluctuating raw material prices. The primary raw materials used to manufacture an overhead power cable are aluminum and copper. All power cable vendors incur a major part of their manufacturing cost for acquiring these raw materials. As per the December 2015 prices of these metals, material costs account for approximately 85% of the total production cost. The total cost of copper and aluminum metals account for roughly 50% of the total production cost.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-unit-operations-global-overhead-cables-market-2017-2021
General Cable, Nexans, NKT Holding, Prysmian Group, Sumitomo Electric Industries, LS Cable & System, Southwire, Hangzhou Cable, TPC Wire & Cable, Hengtong Group, Belden, Encore Wire, Finolex Cables, International Wire Group and KEI Industries.
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