The Asia Pacific Wires and Cables Market would witness market growth of 5.4% CAGR during the forecast period (2020-2026). Factors like modernization, Infrastructure development, and up-gradation of infrastructures like tunnels, tunnel-lighting railways, and signaling; residential, commercial, and industrial buildings; and application of smart grid technology are anticipated to propel the growth of the market during the forecast period.
There are many sectors like aerospace, telecom, and defense, which raises the demand for wires & cables across the world. Upgradation in technologies needs different services like internet access & communication. Improvements and expansions raised the demand for cables like instrumentation cables, Ethernet cables, communication cables, and many more.
Additionally, the swift rise in economic activity & urbanization is estimated to propel the growth of the construction and real-estate sectors. The demands from different industries like residential, commercial, energy and power, telecom, and automotive are resulting in the expansion and improvements of the infrastructure. Thus, these aspects are expected to fuel the growth of the wires and cables market. Moreover, the renovation of aging infrastructure & the construction of commercial and residential buildings is estimated to propel the market.
The outbreak of the Covid-19 pandemic has affected the growth of the wires and cables market, owing to the shifting communication technologies. Almost every country imposed a nationwide lockdown, under which colleges & schools conducted online classes, the healthcare sector shifted to virtual or telehealth checkups and companies worked remotely. All these factors boosted the telecommunication industry and hence, contributed to the growth of the wires and cables market. The telecommunications sector got major advantages from the situation as the pandemic has shown the genuine value of connectivity. In spite of the pandemic & subsequent economic slowdown, 5G progresses in connections and deployments.
Based on Installation Type, the market is segmented into Overhead and Underground. Based on Voltage, the market is segmented into Low Voltage, Medium Voltage, High Voltage and Extra High Voltage. Based on End User, the market is segmented into Energy & Power, IT & Telecommunication, Building & Construction, Aerospace & Defense, Oil & Gas and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific IT & Telecommunication Wires and Cables Market by Country 2019, growing at a CAGR of 2.3 % during the forecast period. The Japan market is experiencing a CAGR of 3.7% during (2020 - 2026). Additionally, The India market is poised to witness a CAGR of 5% during (2020 - 2026).
The Overhead market dominated the Malaysia Wires and Cables Market by Installation Type 2019, thereby, achieving a market value of $3,839.2 million by 2026. The Underground market is estimated to grow at a CAGR of 11.1% during (2020 - 2026).
Free Valuable Insights: Wires and Cables Market in Asia Pacific is expected to register a CAGR of 5.4% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LS Cable & System Ltd., Prysmian Group, Nexans SA, LEONI Group, Furukawa Electric Co., Ltd., Belden, Inc., Encore Wire Corporation, Fujikura Ltd., KEI Industries Limited, and Southwire Company, LLC.
By Installation Type
By Voltage
By End User
By Country
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