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wiredInUSA - October 2015
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Worth $105.2 billion in 2015, the low voltage
cable market is forecast to reach $147.3
billion by 2020 while the medium voltage
cable market is expected to hit $48.8 billion
by 2020. These are forecasts from the latest
research from ReportsnReports.com, an
online market research library.
The lowvoltage cablemarket is segmented
into Asia-Pacific, North America, Europe,
Latin America, and Middle East and Africa.
The report includes country-level analysis
based on installation. Asia-Pacific held the
largest market share in the low voltage
cables market in 2014, and is projected
to grow at the highest CAGR due to the
high urbanization and industrialization in
countries such as China, India and Japan.
China and India are among the fastest
growing economies contributing towards
the growth of the low voltage cablemarket.
The low voltage cable market in Latin
America and the Middle East and Africa
regions is expected to grow at higher rates
due to current expansion transmission and
distribution projects.
The second research analyzes the medium
voltage cable market. Findings indicate
that Asia-Pacific dominated the medium
voltage cable market in 2014, followed by
Europe. The need for continuous supply of
electric power in industry is expected to
drive the medium voltage cable market
in the Asia-Pacific region. Infrastructure
construction in China, India, Indonesia and
Malaysia is expected to boost the medium
voltage cable market in the coming years.
Low voltage
forecast to boom
to 2020