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The international market research institute Market Study Report recently released a distribution cable research report that the global distribution cable market size is expected to reach $109.
05 billion
in 2020.
By 2025, this figure is expected to increase to $144.
92 billion, with a compound annual growth rate of 7.
4%
during the period.
According to the report, the increase in electricity demand is one of the main factors contributing to the stable and sustained growth of
this market.
In addition, the renovation and upgrading of aging power distribution infrastructure and the construction of off-grid/island grid infrastructure are also driving factors
to promote the growth of demand for distribution cables.
From the perspective of market area, Asia-Pacific will become the fastest growing and most demanded distribution cable regional market
during the forecast period.
Accelerated urbanization and industrialization in major developing countries in the Asia-Pacific region, such as China and India, will stimulate demand growth
in this market.
At the same time, the development of smart cities in the Asia-Pacific region and the upgrading of power infrastructure in Southeast Asia will promote the demand for
power distribution cables.
Developed markets such as North America and Europe are expected to witness steady growth
during the forecast period.
The movement towards low-carbon energy in Europe will promote the transformation and upgrading of regional power infrastructure, thereby stimulating the growth of demand for distribution
cables.
In North America, the recent development of renewable energy and aging power distribution network upgrades will further stimulate the market demand, adding impetus
to the growth of this market.
From the perspective of cable manufacturers, Prysmian, Nexans, Sumitomo Electric, Minami Cable, Furukawa Electric, Far East Smart Energy, LS Cable, Fujikura Cable, Baosheng Group, Nktor Cable, Hengtong Group, etc.
will become the world's leading power distribution cable suppliers
.
The international market research institute Market Study Report recently released a distribution cable research report that the global distribution cable market size is expected to reach $109.
05 billion
in 2020.
By 2025, this figure is expected to increase to $144.
92 billion, with a compound annual growth rate of 7.
4%
during the period.
According to the report, the increase in electricity demand is one of the main factors contributing to the stable and sustained growth of
this market.
In addition, the renovation and upgrading of aging power distribution infrastructure and the construction of off-grid/island grid infrastructure are also driving factors
to promote the growth of demand for distribution cables.
From the perspective of market area, Asia-Pacific will become the fastest growing and most demanded distribution cable regional market
during the forecast period.
Accelerated urbanization and industrialization in major developing countries in the Asia-Pacific region, such as China and India, will stimulate demand growth
in this market.
At the same time, the development of smart cities in the Asia-Pacific region and the upgrading of power infrastructure in Southeast Asia will promote the demand for
power distribution cables.
Developed markets such as North America and Europe are expected to witness steady growth
during the forecast period.
The movement towards low-carbon energy in Europe will promote the transformation and upgrading of regional power infrastructure, thereby stimulating the growth of demand for distribution
cables.
In North America, the recent development of renewable energy and aging power distribution network upgrades will further stimulate the market demand, adding impetus
to the growth of this market.
From the perspective of cable manufacturers, Prysmian, Nexans, Sumitomo Electric, Minami Cable, Furukawa Electric, Far East Smart Energy, LS Cable, Fujikura Cable, Baosheng Group, Nktor Cable, Hengtong Group, etc.
will become the world's leading power distribution cable suppliers
.
