The main objective of this report is to define, describe, and forecast the global “Wire and Cable” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global wire and cable market are projected to grow at a CAGR of 4.4% over the forecast period of 2018-2024.
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Wire and Cable Company Acquired by International Buyer
In July 2018- Carter Morse & Mathias (“CMM”) announced that it served as the exclusive financial advisor to a confidential specialized industrial wire company (“Client”) in its sale to an undisclosed international strategic buyer.
The Company is a second-generation family owned company and we were looking for a synergistic buyer that would continue the company’s commitment to its employees, customers, and business partners, to accelerate the development and production of the highest quality products and to uphold the company’s legacy in the industry and our communities.
The international strategic buyer is a family owned company that manufactures and distributes specialty alloy wire and cable products from its 12 plants, some of which are in the United States. They sell their products to more than 50 countries.
Replacement of ageing cables with newer ones to promote growth in the Wire and Cable market
Power cables are one of the major types of cables. These cables are used for transmission and distribution of electricity. Installation of new cable lines and replacement of ageing power cable lines to transmission loss is the key factor promoting growth in this market. With increasing urbanization, the demand for power cables has increased, as new cable lines have to be installed in order to provide electricity to the consumers. Moreover, the demand for the optical fiber is increasing. The fiber optic cables are used to transmit large data information. With growing bandwidth globally, the demand for the fiber optic cables is increasing. Moreover, increasing number of consumer appliances owing to rising disposable income and development of new appliances has driven the growth in the wires market. However, economic slowdown or political instability in any region can restrict or halt the new orders of power cables. This in turn, can hamper the market growth of the wires and cables market. Advancements in manufacturing technologies in order to increase the productivity and reduce the operating cost are the key areas focused by the leading players in the wires and cables market.
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Asia Pacific to dominate the global Wire and Cable market over the forecast period
Asia Pacific dominates the wires and cables market in the year 2017. The growth in the Asia Pacific region is primarily attributed owing to factors such as rural electrification and rapid urbanization. Besides this, increased renewable energy production and large automobile production are the factors facilitating growth of wires and cables in this region. Besides this, Government initiatives to provide internet throughout the country has facilitated growth in the optical fibre cables. These aforementioned factors are responsible for driving growth in this region. Moreover, the regions like Middle East & Africa and South America is expected to stable growth opportunities owing to recovery in economic condition.
Key Industry Players In wire and cable Market Studied in Report Are:
The report provides profiles of the companies in the global wire and cable market such as Hitachi Metals Ltd, Polycab Wires Private Limited, LS Cable & System Ltd, TPC Wire & Cable Corp, General Cable Corporation, General Cable Corporation, Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Hengtong Optic-Electric Co Ltd, and Prysmian Group.