Pune, India, Sept. 29, 2023 (GLOBE NEWSWIRE) — Several governments across the world are taking initiatives regarding the development of transmission and distribution sector. The US government is catalyzing the development of thousands of miles of upgraded and new transmission lines to reduce electricity prices for businesses and families, prevent power outages in extreme weather, and create good-paying jobs in the clean energy economy.The power and control cable market is segmented on the basis of type, voltage, and application. Based on type, the power and control cable market is bifurcated into power cable and control cable. The power cable segment held the largest power and control cable market share in 2022 and is anticipated to register the highest CAGR in the power and control cable market during the forecast period. Based on voltage, the power and control cable market is segmented into low voltage, medium voltage, and high voltage. The low voltage segment held the largest power and control cable market share in 2022 and is also anticipated to register the highest CAGR in the power and control cable market during the forecast period. Based on application, the power and control cable market is bifurcated into utilities and industrial. The utilities segment held the largest power and control cable market share in 2022 and is anticipated to register the highest CAGR in the power and control cable market during the forecast period. By region, the power and control cable market is segmented into North America, Europe, Asia Pacific, MEA, and SAM.Encore Wire Corporation, Furukawa Electric Co Ltd, Hengtong Group, Leoni AG, LS Cable and System Ltd, Nexans SA, Prysmian Group, Riyadh Cables Group, Southwire Company LLC, and Sumitomo Electric Industries Ltd are among the key players profiled during the power and control cable market study. Various other companies are introducing new product offerings to contribute to the power and control cable market size proliferation. Several other important players were also analyzed during this market research to get a holistic view of the global market and its ecosystem. The leading power and control cable market players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to grab new business opportunities.In April 2023, Sumitomo Electric Industries, Ltd. announced plans to establish a power cable factory in Scotland, UK. The plans were announced based on the anticipated growth in demand for cables in the region. Per the company, the demand for cables is increasing in Europe due to wider acceptance of renewable energy and rise in interconnected national and regional lines for achieving a decarbonized society. The company decided to establish a factory in the UK to capture the increasing demand for high-end cables in the region and plans to supply cables for offshore wind farms and further grid connections.Automotive Control Cable Market – Global Analysis and Forecast to 2030.
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Levant Power Cable Market – Global Analysis and Forecast to 2030.The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.If you have any queries about this report or if you would like further information, please contact us:E-mail: [email protected]
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