North America Power and Control Cable Market value will observe significant growth on account of ongoing investment toward expansion and enhancement of grid infrastructure coupled with replacement of existing T&D networks. In addition, adoption of smart grid networks in order to meet increasing electricity requirements across commercial and industrial sectors will positively accelerate the product demand. Furthermore, ongoing consumer inclination toward deployment of fire resistant and flexible cables followed by growing demand for safe and reliable power supply networks will complement the business outlook.
Power cables will observe substantial rise owing to its widespread applicability across utility and industrial sector. In addition, rising demand and supply for electricity production along with significant transformation across infrastructural development activities including building metro cities, railways, aerospace, will augment the industry landscape. Furthermore, government efforts toward energy generation and enhancement of power transmission capacity will foster the industry outlook.
High voltage segment of power and control cable market is set to surge owing to increasing renewable energy projects along with installation of new electricity grid networks. Rapid expansion of the rail networks along with rising deployment of cross-country transmission networks will create a favorable business outlook. In addition, ongoing investments toward large-scale industries coupled with regulatory willingness to incorporate sustainable T&D networks will complement the industry outlook.
The U.S. power and control cable market will witness a substantial growth on account of expansion of micro grid networks along with refurbishment and replacement of traditional electrical networks. In addition, increasing concerns toward grid safety and reliability coupled with integration of sustainable power infrastructure will positively influence the business scenario.
COVID - 19 pandemic will have minimal impact on the power industry on account of increasing electricity demand followed by growing requirement for restructuring of transmission lines and towers across the region. However, labor shortages and production are some of the key factors restricting power and control cable installation.
Major manufacturers across North America market are aiming to introduce innovative products and advance technology by forming strategic alliances, mergers and acquisitions to sustain their position across the industry. Eminent players are Southwire Company LLC., Prysmian Group, Nexans, RPG cables, Belden Inc., LS Cable & System Ltd., Philatron wire and cable LLC, Southwire, Lake Cable LLC amongst others.