The global solar cable market has been foreseen to flourish on the back of solar energy being one of the most lucrative sectors of the renewable energy industry.
Albany, NY -- (SBWIRE) -- 03/05/2018 -- There has been a rising usage of solar panel in photovoltaic systems which are deployed to make best use of solar energy. MarketResearchReports.com has added a report bearing the title "Solar Cable Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025." Besides providing a detailed view of how the market could shape in the near future, the report has offered a comprehensive segmentation study to help identify growth opportunities.
According to the researchers, the world solar cable market could see a classification as per end user, application, type of cable, and type of product. By end user, there could be three main segments to look at: industrial, commercial, and residential. With regard to application, the market could be divided into segments such as service terminal connections, underground service entrances, and solar panels wiring. In terms of cable type, the market could be segregated into solid and stranded segments. Among these types of solar cable, stranded has been forecast to attain a lion's share of the market due to its high effectiveness when electricity flow is taken into consideration.
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On the basis of product, the world solar cable market could be classified into aluminum alloy and copper. Among the two, copper-based solar cable has been envisaged to account for a larger demand in the coming years. This could be because of several advantages including better corrosion resistance, strength, stability, low resistivity, and flexibility.
The world solar cable market has been envisioned to gain impetus from rising awareness among the general public about the contribution of various products in the proper utilization of solar energy which is highly beneficial for the environment. Players may also find it easy to sell solar cable because of its high resistance to UV radiations and harsh weather conditions and high efficiency in transferring energy. Furthermore, technological developments for improving the quality of solar cable and adoption of solar energy promoted by several governments around the world have been anticipated to set the tone for a valuable growth in the market.
On the geographical front, the international solar cable market could be segmented into different regions. However, Asia Pacific has been predicted to rank higher in the near future owing to strong investments from market players and the Chinese government for the adoption of clean energy. The Indian government has also been backing the market with its subsidies offered to commercial and residential builders adopting solar energy.
The competition in the international solar cable market has been expected to remain stiff in the coming years unless players explore the widespread demand in developing nations and extend regional presence with their financial might. The fragmented nature of the competitive landscape could be a result of rising count of players present in the market. Some of the leading names of the industry are Lumberg Connect GmbH, ReneSola Ltd, Atkore International Group, Inc., Huber+Suhner AG, and General Cable Corporation. Each player studied in the report has been profiled on the basis of various factors and different aspects. On the whole, the report has been expected to act as a near-accurate guideline for players to cement their position in the market.
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