Wire and Cable Market: An Insight On the Important Factors and Trends Influencin
Posted by Harshad Borde on August 2nd, 2019
The South Africa market for wire and cable is fairly consolidated in nature and is estimated to remain in the similar position in the next few years, states a new market intelligence study by Transparency Market Research. The level of competition is predicted to rise in the next few years, thanks to the growing focus of the leading players on the research and development activities.
Some of the leading players operating in the wire and cable market in South Africa are Nexans Trade (Pty) Ltd., Power Technologies (Pty) Ltd., B & W Instrumentation and Electrical Limited, ARB Electrical Wholesalers (Pty) Ltd., CCG Cable Terminations Pty Ltd., Kewberg Cables & Braids (Pty) Ltd., Aberdare Cables (Pty) Limited, and CBI-electric: African Cables (Pty) Ltd. The key players in the market are predicted to focus on the strategic partnerships and mergers and acquisitions, which is likely to offer potential growth opportunities for the market players in the next few years.
According to the market research study by Transparency Market Research, the South Africa market for wire and cable is estimated to reach a value of US4.5 mn by the end of 2020. The market is predicted to register a healthy 12.0% CAGR between 2014 and 2020.
Copper Wire and Cable Segment to Lead South Africa Wire and Cable Market
The South Africa market for wire and cable has been categorized on the basis of type into aluminum, copper, fiber optic, and others. Among these, the copper wire and cable segment is projected to lead the overall market in the next few years. The high growth of this segment can be attributed to the rising developments in power generation. In addition to this, the rapid growth of the electronic circuitry, distribution and transmission, telecommunications, and several other types of electrical equipment is further projected to enhance the growth of this segment in the next few years. The demand for copper wire and cable is predicted to expand significantly, thanks to the rise in the demand for automobiles in the nation. Some of the leading automobile component manufacturers that are based in South Africa are Arvin Exhaust, Bloxwitch, Senior Flexonics, and Corning.
On the basis of voltage, the South Africa market for wire and cable has been categorized into low voltage, medium voltage, and high voltage. Among the above, the low voltage wire and cable segment is projected to witness high growth in the next few years. The rising number of applications across industrial and housing applications, electronic goods, airports, railways, and power transmission and distribution is considered as one of the key factors that is likely to encourage the growth of the overall segment in the next few years. In addition to this, the growing need for the developing safety of residential/public buildings is another major factor that is likely to enhance the growth of the segment in the near future.
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Rising Number of Applications to Enhance Growth of Wire and Cable Market
The rising number of developments in the power transmission and distribution sector is one of the major factor, which is estimated to encourage the growth of the South wire and cable market in the next few years. The high adoption of wire and cable in the communications segment is another factor that is predicted to support the growth of the overall market throughout the forecast period. Furthermore, the rising demand for wire and cable and the rising demand for automobiles, in which the wires and cables are being used in different applications are estimated to encourage the growth of the market in the near future. Moreover, the rising focus on research and development is projected to enhance the overall market growth in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Wire and Cable Market (Voltage – Low, Medium, and High Voltage; Type – Copper, Aluminum, and Fiber Optic; Application – Buildings, Communication, Power Distribution &Transmission, Home Appliances, Automotive, Healthcare, Aerospace, and Consumer Electronics) – South Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
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About the AuthorHarshad Borde
Joined: April 26th, 2019
Articles Posted: 526
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