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Cables Market: Definition
ELINT Market Research offers an in-depth guide on the global cables procurement intelligence market which states that a set of wires and cables are mainly used to transmit electronic messages or electricity to several applications. Cables can help to convey electrical currents, whereas a wire is a form of solitary electrical conductor. The three primary types of cables available in the existing market include coaxial, twisted pair, and fiber optic. Further, with a staggering $168 billion in revenue, the cable industry is well-positioned in the world’s expanding economy. ELINT’s projection says that through the year 2025, the market indicates a positive growth outlook at a stable CAGR of 2% to 3%.
Cables Market: Growth Driving Factors
The development of the cable market over the projected period of 2028 has been significantly influenced by the rising federal spending and fast urbanization that are taking place in both established and emerging nations to expand their energy supply and transmission infrastructures.
Cables Market: Challenge
The main factors limiting the expansion of the wire sector are the increasing operation prices for specialized cables, installation expenses, and the adoption of wireless technologies.
Cables Market: Opportunity
The growing development of households and companies combined with the high demand for continuous energy supply will create a multitude of new opportunities for the international wire and cable industry.
Cables Market: Leading Regions
Asia-Pacific dominates the wire and cable industry because of the region’s fast development and growing government attempts to upgrade current power lines. Additionally, due to rising disposable earnings and considerable government programs, North America is also predicted to boom significantly by 2028.
Cables Market: Key Manufacturers
The top 10 cable manufacturers, who are expected to influence the market in the upcoming years, are given below:
1. Prysmian Group
Established in 1879, the Italian Prysmian Group holds a prominent position in the global cables procurement intelligence market and has its headquarters located in Milan, Italy. It boasts the greatest manufacturing and R&D staff.
2. Nexans
Nexans is one of the leading combined wiring manufacturers in the world that offers cable design and manufacturing services. The organization can offer the most extensive and unified cabling and parts solutions.
3. Sumitomo Electric Industries (SEI)
Sumitomo Electric Industries (SEI) is a globally recognized maker of electronics for communication that was established in 1897. It is currently one of the top producers and distributors of optical fiber cables.
4. General Cable
The biggest manufacturer of specialized cables in the world is General Cable, which has its main office located in Highland Heights, Kentucky, USA. The primary work of the organization is producing unique wires and cables.
5. LS Cable
LS Cable is popular as a cable manufacturing company in South Korea that was formerly a part of the LG Group. LS Cable is the biggest cable maker in South Korea and manufactures optical cords, interconnecting plugs, ventilation systems, and high-strength connectors.
6. German LEONI Group
Established in 1917, the German LEONI Group has its headquarters in Nuremberg, Germany. It is among the biggest and most established producers of electrical cables worldwide.
7. EIS Wire
EIS Wire & Cables produces numerous powerful cables and is based in Western Massachusetts, USA. The company provides high-quality goods that are ideal for use in diverse sectors like petroleum products, paper, pulp, metal, solar energy, energy production, and refineries.
8. Sumitomo Electric
The Chuo-ku region of Osaka has headquarters for Sumitomo Electric Industries LTD cable manufacturing company. This company was founded in 1897 to provide copper wires for a range of purposes.
9. Dacon System Inc.
The greatest electric wire manufacturer is Dacon System located in Los Angeles, CA, United States. The organization is renowned for offering a broad variety of goods, including high-temperature wires intended to resist extreme environments.
10. Belden
Belden has been associated with quality and innovation and was founded in Chicago in 1902. Belden is a top-tier proficient developer of cables in the world. Big technological businesses use their products extensively in building business transmission networks.
Conclusion:
ELINT Market Research predicted that the global cable procurement market is expanding favorably because of the quick expansion and progress of technological innovations in the industry. If you’re searching for the leading cable-making companies, you can select any of the aforementioned brands. Additionally, to learn more about the wire and cable industry trends, get in touch with our research team.
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