Cable Accessories: Introduction
- Cable accessories are designed for insulating conductors and connecting cables from direct contact with the earth surface. Cable accessories protect cables from erosion and degradation caused by environmental stress, UV light, and other mediums. They also enhance durability of cables. This helps in providing a reliable service for longer operating life in overhead and underground installations. Cable accessories are used in establishing transmission and distribution (T&D) networks for electricity, Internet systems, and telephones.
Key Drivers and Restraints of Global Low Voltage Cable Accessories Market
- Expansion of the transmission & distribution network to meet the rising demand for electricity and rapid urbanization are some of the key factors that are expected to drive the global low voltage cable accessories market during the forecast period. Low voltage cable is a key component for secondary distribution of electricity at voltage range below 1 kV. Furthermore, aging power grid infrastructure and introduction of new power generation power project are anticipated to boost the low voltage cable accessories market. For instance, in 2018, the Government of India announced that the renewable energy sector in the country attracted an investment of more than US$ 42 Bn over the last four years.
- Increase in investment in construction of residential & commercial establishment is anticipated to propel the global low voltage cable accessories market during the forecast period
- Technological innovations and advancements in the design of cable accessories to optimize their operational efficiency are estimated to augment the global low voltage cable accessories market during the forecast period. However, constraints related to funding and delays in authorization and complex planning of projects are likely to hamper the global market during the forecast period.
Underground Installation Segment to Expand Significantly
- The global low voltage cable accessories market can be segmented based on installation, end-user, and region
- In terms of installation, the global low voltage cable accessories market can be classified into overhead and underground. The underground segment is anticipated to expand at a significant pace during the forecast period, as underground cables have smaller voltage drops and low chances of developing faults. Furthermore, their maintenance cost is low.
- In terms of end-user, the global low voltage cable accessories market can be classified into residential, commercial, and industrial. Low voltage cable accessories are extensively used in the residential sector, as the sector has the highest consumer base in terms of consumption of electricity. The industrial segment is anticipated to expand significantly during the forecast period, due to increase in investments in refurbishment of aging infrastructure of electricity grids.
Asia Pacific to Hold Key Share of Global Low Voltage Cable Accessories Market
- Based on region, the global low voltage cable accessories market can be divided into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America
- The low voltage cable accessories market in Asia Pacific is expected to expand at a significant pace during the forecast period, due to surge in demand for electricity in developing countries such as China and India. Rapid urbanization & industrialization and strong economic growth are some of the key factors that are projected to boost the market in the region during the forecast period.
- Europe is expected to hold major share of the global low voltage cable accessories market during the forecast period. The market in the region is driven by introduction of several renewable power generation projects. Technological advancements in low voltage cable accessories to enhance their operational efficiency is also anticipated to drive the market in the region in the near future.
- The low voltage cable accessories market in North America is likely to expand at a stable pace during the forecast period, due to ongoing investments in modernization of grid infrastructure in the region. Furthermore, increase in investment in the infrastructure sector, growth in economy, and migration of the population toward urban areas are likely to propel the market in the near future.
- The low voltage cable accessories market in Middle East & Africa and Latin America is anticipated to expand at a moderate pace during the forecast period
Key Players Operating in Global Market
Leading companies operating in the global low voltage cable accessories market include:
- Elcon Megarad Spa
- ENSTO INDIA PRIVATE LIMITED
- Ikebana Engineering Ltd.
- TE Connectivity
- REPL International
- NKT A/S
Global Low Voltage Cable Accessories Market: Research Scope
Global Low Voltage Cable Accessories Market, by Installation
Global Low Voltage Cable Accessories Market, by End-user
Global Low Voltage Cable Accessories Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.