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Albany, NY -- (SBWIRE) -- 12/26/2014 -- Netscribes latest market research report titled Electric Wire and Cable Market in India 2014 captures one of the largest segments of the electrical equipment market. The Indian electrical equipment industry is broadly segmented into the generation equipment sector and transmission and distribution sector. The wire and cable industry in India comprise about a quarter of the total transmission and distribution segment. The electric wires and cables market is expected to witness rapid growth in the coming years owing to government investments in power and telecommunication, coupled with dynamic industrialization and rapid urbanization. However, increasing price of raw materials adversely affects the growth of the wire and cable industry. The market is also facing increased competition from unorganized sector. Cheap imports from China also pose a threat to the organized sector.
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Players in the market are focusing on application of latest technologies in the manufacture of wires and cables to reach out not only to Indian clients but also global customers and generate more revenue. The players are also focused on expansion and are forging joint ventures with international players with a view to acquire a greater share of the market. The electric wires and cable market is expected to find immense opportunity to grow with the nationwide smart grid implementation. The slow but steady shift towards renewable energy is also expected to provide huge market opportunity for electric cable and wire market over the next few years
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