Surging demand across several applications areas such as transmission, braking, engine, lights, seat heaters and air conditioners is expected to drive the global wire and cable market over the forecast period. Growing demand for in-vehicle wiring applications is also expected to considerably fuel market demand over the next six years. In addition, growth across the power transmission & distribution sector may also propel the wire and cable market demand. Rapid urbanization and infrastructure development along with increasing transmission grid capacity are also expected to serve as a driver to market growth. Favorable government initiatives pertaining to the housing sector provide several market growth opportunities. Additionally, surge in demand across telecommunication sector is also expected to favourably impact the wire and cable market demand over the next six years.
Growing environmental concerns related to recycling and disposal of automotive wires and cables may pose a challenge to market growth over the forecast period. Further, increasing usage of wireless devices may also hinder the wire and cable market demand. In addition, growing popularity of fibre-optic cables may also pose a threat to market growth over the next six years.
Asia-Pacific is expected to exhibit high growth over the forecast period, which can be attributed to demand rise in countries such as China and India. A few key players in the wire and cable market include Belden Inc, Cords Cable Industries, Limited, Finolex Cables, Torrent Cables, Chongqing Yuneng, Taishan Electric Wire and Cable, Enfield Cables, LS Cable & System, Hitachi Cable and Marlin Wire.
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