North America Wire and Cable Market to hit $40 billion by 2026, Says Global Market Insights, Inc.
North America Wire and Cable Industry is set to register over 8% CAGR between 2020 and 2026, supported by growing integration of clean energy sources.
Selbyville, Delaware, October 20, 2020 (Newswire.com) - The North America Wire and Cable Market revenue is poised to cross USD 40 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Surging demand for IoT and smart devices along with growing inclination towards the adoption of high-speed internet services will drive the wire and cable industry size across the region.
The North America coaxial wire and cable market is set to witness substantial growth due to their high durability and ease of installation. This product is widely deployed by internet and service providers for effective transmission of video and audio data, which in turn will stimulate the industry growth. Moreover, the ability to transmit large volumes of data at significant speeds will further foster the adoption of these cables across the region.
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High voltage cable will witness strong growth on account of growing demand for bulk electricity transmission over long distances. Rising investments toward the development of several clean energy generation projects have also raised the market demand over the last few years. Growing demand for high voltage networks across the manufacturing sector will further augment the product demand. In addition, increasing adoption of HVDC systems will significantly drive the demand for high voltage wires and cables across the region.
Few major findings of the North America wire and cable market report include:
- Growing electricity demand from residential and commercial buildings along with rapid investment towards the development of smart grid infrastructure will fuel the industry trends
- Rising industrial sector growth coupled with increasing integration of renewable energy source will proliferate the business growth
- Governmental focus towards the generation and transmission capacity addition will fuel the power cable demand over the forecast period
- Rapid growth in internet usage and telecommunication services will enhance the industry outlook
- Major players operating across North America wire and cable market include Furukawa Electric Co. Ltd., Belden, Inc., LAPP North America, Polycab, and Cablel Hellenic Cables Group amongst others
Browse key industry insights spread across130 pages with 93 market data tables & 27 figures & charts from the report, "North America Wire and Cable Market Report By Voltage (Low, Medium, High), Products (Coaxial Cable/Electronic Wire, Fibre Optics Cable, Power Cables, Signal & Control Cable, Telecom & Data Cables), Application (Food & Beverages, Automotive, Material Handling & Logistics, Entertainment/Leisure, Utilities, Railways, Consumer Electronics, Building Infrastructure, Others), Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-wire-and-cable-market
Rising disposable income coupled with declining prices of consumer electronic products have raised the market demand for various kind of cables across the region. Moreover, the introduction of smart systems in the recent past has further revolutionized the regional consumer electronics industry significantly. The flourishing electronic sector is increasing the demand for various low-voltage components such as smartphones, earphones and Bluetooth speakers which will further stimulate the North America wire and cable market demand.
The Mexico wire and cable market is estimated to register over 7% CAGR through 2026. Aggressive investments toward the development of new T&D corridors for efficient and reliable power will enhance product penetration. The Mexican government is focusing on clean energy systems to meet its emission targets which will further stimulate the business growth over the forecast timeline.
Access the TOC of this report @ https://www.gminsights.com/toc/detail/north-america-wire-and-cable-market
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
