DALLAS, Oct. 15, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the energy cable market looks attractive with opportunities in the utilities, industrial, residential, and commercial sectors. The global energy cable market is expected to reach an estimated $128.7 billion by 2023 and is forecast to grow at a CAGR of 5.2% from 2018 to 2023. The major growth drivers for this market are growth in electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.
Browse 72 market data tables and 115 figures spread through 185 pages and in-depth TOC on “Energy cable market" at https://www.lucintel.com/energy-cable-market.aspx
In this market, low voltage cables, medium voltage cables, and high voltage cables are used for energy cable manufacturing for voltage type. On the basis of comprehensive research, Lucintel forecasts that low voltage cable is expected to remain the largest segment due to growth in construction as well as automotive sector, especially in China and India. High voltage cable is expected to witness the highest growth in the forecast period supported by increasing investment on renewable power generation sources and ultra-high voltage transmission lines.
Download Free PDF Brochure @ https://www.lucintel.com/energy-cable-market.aspx#/
Asia Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period. Economic expansion, industrialization, urbanization, and rural electrification projects, particularly in India and China, are leading the demand for energy cables.
For Pre-Purchase Query click https://www.lucintel.com/energy-cable-market.aspx#/
Emerging trends, which have a direct impact on the energy cable dynamics of the industry, include the deployment of superconductors in power cables for improved performance and electron beam cross linking of power cable for durability and high current carrying capacity. Prysmian Group, Nexans S.A., Leoni AG, NKT S/A, Sumitomo Electric Industries Ltd, Encore Wire Corporation, and Southwire are among the major suppliers of energy cable.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global energy cable market by product type, voltage type, end use industry, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Energy cable market 2018-2023: Trends, Forecast, and Opportunity Analysis.” For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.