The electric wire and cable market in India in the electrical components & equipment industry is poised to grow by $1.65 bn during 2021-2025. Technavio’s latest market research report estimates that the electric wire and cable market in India will progress at a CAGR of almost 4%. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Factors such as growth in renewable power generation in India, expansion and revamping of T&D infrastructure in India, and increase in investment in metro railways will offer immense growth opportunities. Furthermore, an increase in sales of HVDC power cables is likely to emerge as one of the key electric wire and cable market trends in India. However, compliance with regulations may threaten the growth of the market.
To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The electric wire and cable market in India is fragmented, and the degree of fragmentation will accelerate during the forecast period. Backed with competitive intelligence and benchmarking, our research report on the electric wire and cable market in India is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
Indian railways have emerged as the largest revenue-generating end-user segment in the electric wire and cable market in India. The considerable inflow of investments from the Government of India toward developing high-speed rail projects will drive the market growth during the forecast period. Furthermore, the electric wire and cable market in India is fragmented and the vendors are deploying growth strategies such as low pricing to compete in the market, which in turn, will lead the market to showcase considerable growth during the forecast period.
Post Your Comments