Wire and Cable Market Trends

Wire and Cable Market Trends

Robust growth of the consumer electronic sector coupled with enlargement of grid infrastructure network will significantly enhance the wire and cable market dynamics. Increasing investment in research and development activities by various manufacturers to enhance their product portfolio and evolving consumer demand will propel the business scenario. The transition to renewable energy sources including solar and wind power has led to a growing demand for these wire and cable portfolio which are efficiently transmitting renewable energy over long distances. Moreover, the integration of smart grid technologies comprising of advanced metering infrastructure and distribution automation requires the product deployment of wire and cables for transmitting data and facilitating communication within the grid infrastructure.