In 2020, the estimated size of the world market for wires and cables was USD 183.14 billion. From 2021 to 2028, it’s projected to grow at a CAGR of 4.4%. One of the main variables influencing the industry is the world’s developing infrastructure and rising urbanization.
The facilities and energy demand in the commercial, industrial, and residential sectors have been impacted by the causes. Increased expenditures in effective facility transmission and distribution system upgrades and the creation of effective grids are predicted to fuel market expansion. Good grid technology implementation has satiated the growing need for grid interconnections, which has increased expenditures on new subterranean and submarine cables.
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The coronavirus pandemic has had a significant negative impact on the market, due to hindrances in production and temporary facility closures. Disruptions in the supply chain and a drop in demand from the aviation and automotive industries have adversely impacted market expansion. But when more investments in the creation of strong infrastructure come from different nations, the market will gradually get better. The market is likely going to experience significant expansion in the upcoming years.
Governments all across the world are developing green energy technologies to reduce their reliance on fossil fuels. The installation of wind turbines and solar farms is expanding, which increases the demand for wires and cables. Additionally, it is projected that the emergence of offshore renewable technologies, such as offshore wind farms, will accelerate market growth due to the installation of underground cables and wires to distribute power. The global market for wires and cables will likely experience stronger growth due to the rising need for renewable energy.
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Increased investments in effective grids have been caused by rising energy demands in South America, the Middle East, and the Asia Pacific. The need for low-voltage cables will increase as a result. The two main factors driving the increase in overall market growth are urbanization and manufacturing. Underground and submarine cables are necessary for connecting electrical systems in densely populated areas.
India’s Market Insight
The domestic cable and wire industry has experienced significant expansion over the last five years because of the government’s goal of giving electricity to everyone and the slow recovery of the housing market.
The Indian market for wire and cables has the potential to increase by USD 1.65 billion between 2021 and 2025, and as a result, the industry’s growth pace might quicken at a CAGR of 3.80%. The government’s investment in infrastructure is fuelling the growth of the wire and cable business in India.
The rise of renewable energy production in India, the expansion and modernization of the country’s transmission and distribution infrastructure, and rising investments in railroads are all expected to have a significant impact on the market. Increased grid investments and modernization of the systems for electricity transmission and distribution are also expected to drive rising demand for wires and cables internationally.
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There is a growing need for grid interconnections as a result of significant investments in reliable grid technologies. Additionally, increasing underground cable investments and, consequently, the expansion of renewable energy sources are expected to accelerate the use of wires and cables. The need for wire and cables is closely related to the development of the manufacturing industry and infrastructure in the electricity, telecommunications, residential, and industrial sectors.
As a result, the Indian government’s initiatives on several fronts, including power, housing, infrastructure, and conversion, are unquestionably going to produce a ton of business for the wire and cable industry in the foreseeable future.
The industry is currently looking forward to providing cables for solar and wind power applications in addition to oil and gas, railways, and other specialized areas due to the Indian government’s emphasis on promoting renewable energy. In a wide range of applications, including electronics, utilities, material handling, automobile, and entertainment/leisure, wires and cables are used. The trade prognosis over 2021–2025 may be influenced by an increasing propensity for the expansion of existing grid networks as well as a lack of cost-effective electrical infrastructure.
The “Manufacture of Electrical Cables, Wire and Wire Products Handbook
“Offers a thorough understanding of the design, production, installation, and testing of a variety of electrical cables, from extra-high-voltage cables to low-tension cables, with consideration for current and foreseeable business trends. This makes it easier for manufacturers o decide how to start an electric cable manufacturing business.
About the Book
The book begins with a thorough overview of producing and power cable design throughout the manufacturing process, and then:
- explains the properties of the materials that are now used in the assembly of different power cables.
- discusses how electrical conductors are formed, stranded, and insulated as well as how facility cables are sheathed, armoured, and protected.
- provides an extensive examination of performance testing, internal control, and quality systems.
All types of power cables are covered in the handbook, including wiring and multipurpose cables for everyday usage as well as distribution, transmission, and submarine cables. It contains information on materials, design concepts, installation, and standards; thus, the various appendices offer comprehensive tables of data on frequently used cable types.
The Handbook has also been significantly expanded to give the power engineer a thorough understanding of communication cables. The use of optical fibres in power transmission systems is covered in a brand-new, in-depth part, which acknowledges the growing influence of telecommunications on the power industry.
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Additionally, a chapter on communication cables is included in the book on electronic cables.
Additional information has also been added to the appendices, references, and list to reflect the extensive rewriting of the text. Much of the early content has been kept providing the background information necessary for the business’s ongoing technical advances.
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The focus of the book is on methods to improve the design and installation of power cables, which are crucial components used in the interrelated sectors of engineering, mechanical, and, to some extent, electrical. It provides a thorough examination of power cable characteristics and applications and demonstrates the many potential obstacles to real-world cable performance.
About the Author
A special thank you to the author, P. K. Tripathi, for organizing the effort and adding his meticulous technical knowledge. Along with useful references, tables, equations, and illustrations, his book also includes fresh, expanded, and new technology application chapters. Engineers who have previously worked in their dynamic field and manufacturers who are new in this industry will value the book’s priceless updates on the newest materials, goods, and concepts.
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