Industrial Cables Market Scope
Industrial Cables are defined as power circuit cable which is installed on the customer side of the electricity supply point but does not fall into the category of wiring cables. The main objective of Industrial Cables is used for the distribution of power around a large industrial site or for final radial feeders to individual items of plant. It has wide applications in end-use industries such as construction, mining, and May more and it’s available in a wide range of shapes and sizes in the market. Geographically China has witnessed significant growth in recent years, driven by the country’s surging economy coupled with the rapid development of infrastructure and the significant expansion of national electricity grids is leading to the production of industrial cable
|Unit||Value (USD Million)|
|Key Companies Profiled||Havells India Ltd (India), Eland Cables (United Kingdom), JVI Cables (India), Flexon Cables (India), TPC Wire & Cable Corp (United States), Heatflex Cables Private Limited (India), AB Bröckskes GmbH & Co. KG (Germany), KEI Industries Limited (India), Panasonic Life Solutions India Pvt. Ltd, Polycab India Limited (India), Fybros (India), Taiyo Cabletec (HK) Co. Ltd (Thailand) and Others|
The local and major companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring the new regions through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the industrial sector. Several companies such as Havells India Ltd, Polycab India Limited and etc are operating in the market to provide customers with various features products & unique offering prices. The market is a partially fragmented market with the presence of several market players and local players.
Havells India Ltd (India), Eland Cables (United Kingdom), JVI Cables (India), Flexon Cables (India), TPC Wire & Cable Corp (United States), Heatflex Cables Private Limited (India), AB Bröckskes GmbH & Co. KG (Germany), KEI Industries Limited (India), Panasonic Life Solutions India Pvt. Ltd, Polycab India Limited (India), Fybros (India), Taiyo Cabletec (HK) Co. Ltd (Thailand) and Others are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Industrial Cables market and Region with country level break-up.On the basis of application, segment is dominating the market in the year 2019
On the basis of geography, the market of Industrial Cables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2019.
Market Leaders and their expansionary development strategiesOn February 2022 Genuine Cable acquires Allied Wire & Cable. This acquisition will help both organizations to create a “premier, national value-added wire, cable and connectivity solutions provider to better service for end-user
In January 2020 Finolex Cables Launch industrial Switchgears. The main aim of launching new products is to strengthen its presence in the Domestic and Industrial Switchgear Market.
- The power sector is considered to be a significant adopter of industrial cables, contributing immensely to the growth of the market. This is evident due to the new upcoming power projects being initiated by the governments in various regions to meet the electricity requirement which has given the market a significant boost in the forecast period
- Surging is demand for higher industrial cables among different industries such as manufacturing, oil, gas, etc. Wired transmission connection offers greater connectivity, enhanced reliability & agility, and improved security in comparison to wireless communication. Thus, an increase in demand for higher bandwidth and a rise in need for faster transmission is expected to drive the growth of the cables and connector market in the future.
- Rising investments by manufacturers of cables for innovation in this segment will drive market growth. A major company is currently planning to expand its operations to Asia pacific in order to expand its global presence. Similarly, In addition, this company has secured several contracts in the submarine cable laying business with an order intake of USD 1.2 billion. Hence these advancements are analyzed to drive the market growth in the forecast period.
- Rising Prices of cables continue to rise through 2020, as the price of plastics and steel, in particular, have risen in 2019. However, the Copper price was offset by the rise in mine output. For instance, in Europe, Ukraine war, and volatile geopolitical conditions, the price of connectors are highly capricious. Hence are several factors which are hampering the market growth.
- Increasing local and regional regulations affect varied aspects of the manufacturing process, such as using certain materials, disposing of waste and much more Manufacturing is believed to be a harsh environment. So this is several factors that may be hampering the production of industrial cable
Key Target AudienceRegulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments, OEM (Original Equipment Manufacturer), Raw Material Supplier and End-use Industry
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Industrial Cables Market?
The Industrial Cables study can be customized to meet your requirements. The market size breakdown by type , by end use application .
2. How big is the Industrial Cables Market?
The Industrial Cables Market is gaining popularity and expected to see strong valuation by 2026.