The latest research study, “Cable Accessories Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” has been added by IMARC Group. The global cable accessories market reached a value of US$ 50.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 73.7 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027.
Cable accessories are integral components of the power cable systems, which are used in the transmission and distribution (T&D) of electricity from one point to another. They connect cables and insulate conductors from direct contact with the earth. In addition, they help strengthen wires, enhance their durability, and protect them from degradation and erosion caused by ultraviolet (UV) radiation and other unfavorable environmental factors. As a result, they find extensive applications in electricity, telephone, and internet systems.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Rapid urbanization and a significant rise in power consumption are among the key factors positively influencing the global demand for cable accessories. Moreover, increasing construction activities of railway tracks and residential and commercial complexes are creating a positive market outlook. Besides this, governments of various countries are focusing on upgrading or remodeling the grid infrastructure by using new transmission lines. Furthermore, leading market players are investing in research and development (R&D) activities to enhance the quality and durability of cable accessories, which is anticipated to drive the market.
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The report has segmented on the basis of Voltage, Installation, end-use and geography.
Segmentation by Voltage:
1.Low Voltage Cable Accessories
- Medium Voltage Cable Accessories
- High Voltage Cable Accessories
Segmentation by Installation:
- Overhead Cable Accessories
- Underground Accessories
Segmentation by End-User:
Segmentation by Region:
5.Middle East and Africa
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