Metal-clad Cable Market : Industry Development Scenario and Forecast to 2030
Posted by Fred Williams on February 8th, 2022
Metal-clad Cable Market: Introduction
Transparency Market Research delivers key insights on the global metal-clad cable market. In terms of revenue, the global metal-clad cable market is estimated to expand at a CAGR of 4.4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global metal-clad cable market.
The global metal-clad cable market is broadly affected by several factors, including increasing urbanization and industrialization. Versatility of applications is boosting demand, and ease of installation, lower variable costs, and higher efficiency are driving market growth. However, the market for metal-clad cable systems is likely to be hindered by several factors such as volatility of raw material pricing and constrained supply chain.
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Metal-clad Cable Market: Dynamics
Metal-clad cables are pocket-friendly due to the absence of pull-boxes and conduits, which reduces material cost and labor cost. Moreover, since metal-clad cables eliminate the need for electrical conduits, the cable is easy to install, and less sophisticated tools are needed to cut or bend the cable. Compared to other types of cables, which are generally more expensive and also entail proper training and expertise of technicians installing them, metal-clad cables are much easier to install and are cost-effective, and as such, technicians are slowly shying away from traditional cables and opting for metal-clad cables. Alongside saving time, metal-clad installations provide higher mechanical protection and durability. The cables are highly corrosion resistant, which makes them a perfect choice for installation in moist areas. The armoring on the conductors also helps to reduce the interference that may arise between these wires and other network or telephone cables. These factors are also a major force driving growth of the metal- clad cable market.
Some of the countries investing in the modernization of smart-grid infrastructure include Lithuania, Croatia, Estonia, Latvia, Slovakia, Slovenia, Kazakhstan, Kyrgyzstan, Argentina, Chile, Colombia, Uzbekistan, Dominican Republic, Paraguay, Peru, Venezuela, Bahrain, Jordan, Kuwait, Lebanon, Oman, India, Pakistan, Ecuador, Sri Lanka, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Ghana, Nigeria, and South Africa. According to the International Solar Energy Society, “Brazil expects to replace 63 million electricity meters with smart meters by 2021, while India has plans for over 130 million smart meters.“ China plans a wide-scale smart meter installment of over 360 million smart meters by 2030. China’s overall spend on smart grid development is projected to reach US$ 99 Bn by 2030. During the next decade, smart-grid infrastructure investment is expected to take place in developing countries in North America, East Asia, and Western Europe. The demand for metal-clad cable is, thus, anticipated to experience huge surge from 2021 to 2025.
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About the AuthorFred Williams
Joined: May 7th, 2020
Articles Posted: 371
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