Cable and Accessories Market
Global Cable and Accessories Market: Overview
Cable accessories are an integral part of the power cable systems. These are extensively used in the transmission and distribution of electricity. These cable accessories include connector systems, cable joints, termination, and so on. Cable accessories are prominently used in lowvoltage applications where they possess high network density as compared to high- and medium-voltage applications. For instance, Prysmian Group, the world leader in the energy and telecom cables and systems industry, signed an agreement for the acquisition of the German copper data cable operation. The business reported the sale of approximately € 22 Million in 2015 for the production of CAT5, CAT6, and CAT7 cables.
Global Cable and Accessories Market: Growth Factors
People are moving towards conventional sources of renewable energy; this may drive the demand in the global market in future. Owing to rising population and increasing disposal income the global cable and accessories market is anticipated to grow in the near future. Associated tidal energy projects are also impacting the global market in a positive way. New insulation technologies in the cable and accessories market are expected to fuel the demand in future. Considerable demand from emerging economies is also contributing to the global market growth. Growing demand from key end-use applications also impacts the market growth positively. Lack of financial assistance and poor planning of the projects are few market