According to the Graphical Research new growth forecast report titled “APAC Wire and Cable Market Size By Product (Coaxial Cable/Electronic Wire, Fiber Optics Cable, Power Cables, Signal & Control Cable, Telecom & Data Cables), By Voltage (Low, Medium High), By Application (Food & Beverages, Automotive, Material Handling/Logistics, Entertainment/Leisure, Utilities, Railways, Consumer Electronics, Building Infrastructure, Others), Industry Analysis Report, Country Outlook (China, India, Japan, South Korea, Australia, Indonesia, Philippines, New Zealand, Malaysia, Thailand), Application Potential, Competitive Market Share & Forecast, 2020 – 2026”
Asia Pacific Wire and Cable Market is set to witness substantial growth on account of rising investments across regional automotive industry. Flourishing service sector coupled with increasing telecom and internet consumer base will fuel the demand for data cables. In addition, Rapid development of fast charging infrastructure toward the adoption of electric vehicles will further influence the business outlook during the forecast timeline.
Coaxial wire and cable demand is set to observe exponential rise on account of growing number of internet and service providers for effective transmission of video and audio data. In the recent past, demand for these cables has witnessed significant growth due to their ease of installation and high durability. Moreover, the ability to transmit large data sets at considerable speed is stimulating the adoption of coaxial wires and cables across educational institutes and commercial establishments
High voltage cables will witness exponential growth on account of mounting demand for bulk power transmission over extended distances. Over the coming years, growing adoption of HVDC systems will substantially boost the demand for high voltage cables across the region. Furthermore, inclined consumer tendencies toward the installation of these cables to enhance overall life expectancy and living environment of the power network will further boost the industry growth.
APAC wire and cable market from automotive sector is set to witness substantial growth on account of rising disposable income along with the introduction of new innovations across the industry. Soaring requirement for heavy commercial vehicles across logistics and e-commerce industry will fuel the product demand. In addition, increasing focus toward the adoption of sustainable vehicles including BEVs and HEVs will further augment the business outlook.
India market is set to witness considerable growth on account of rapidly growing electricity demand from industrial sector. In addition, soaring need for high speed data services along with enhanced telecom services will stimulate the data cable demand over the forecast timeline. Moreover, the government’s target to achieve 100 GW of solar power by 2022 coupled with supportive tax incentive programs to further augment the demand for wire and cable.
Leading manufacturers operating across the wire and cable industry are offering highly advanced products to achieve a competitive edge over other industry participants. Major industry players operating across the market include KEI Industries Limited, Prysmian Group, Fujikura Limited, Polycab, and Leoni Group amongst others.