The South Africa wire and cable market is progressing at a CAGR of 12.0% between 2014 and 2020. This market was valued at US$355.0 mn in 2013 and is expected to reach US$834.5 mn by the end of 2020, as stated in a research report released by Transparency Market Research. The report, titled “Wire and Cable Market - South Africa Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” creates an all-inclusive visualization for its user in order to begin undertaking successful market strategies suitable for rapid growth.
Albany, NY -- (SBWIRE) -- 12/09/2016 -- Driven by continuous growth in the infrastructure sector in South Africa, the market for wire and cable in the country was valued at USD 355.0 million in 2013 and is expected to reach USD 834.5 million by 2020, growing at a CAGR of 12% during the forecast period from 2014 to 2020. Wires and cables find application in other industries as well such as automobiles, power transmission & distribution, electronics and communication industries among others.
Get More Information :http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3645
Increasing developments in the power transmission and distribution sector has further supported the market growth. The adoption of wire and cable in communications segment has additionally supported the growth of the market. The demand for wire and cable can also be attributed to the growing demand of automobiles where the wires and cables are used in different applications. The growing automobile industry in the country has not only contributed to the growth of the wire and cable market but has also additionally supported the growth of the local cable manufacturers. The growing demand of electronic devices has also contributed to the growth of the wire and cable market.
Based on types, copper wire and cable held the largest share in the market in 2013. The demand for copper wire and cable is primarily driven by the growing developments in power generation, distribution and transmission, electronic circuitry, telecommunications and several other types of electrical equipment in the country. The demand for copper wire and cable is expected to expand with the increase in demand of automobiles vehicles in the country. Some of the automobile component manufacturers based in South Africa are Corning, Arvin Exhaust, Senior Flexonics and Bloxwitch.
Based on voltage, low voltage wires and cables held the largest market share followed by high voltage. The growth in the low voltage wire and cables is attributed to the increasing applications across electronic goods, industrial and housing applications, railways, airports and power transmission & distribution in the country. The market for low voltage wires and cables in the country is also supported by the increasing need for the enhanced safety of public/residential buildings.
Wire and cable industry in South Africa is a consolidated market. Texas Instruments, STMicroelectronics, Renesas Aberdare Cables (Pty) Limited, CBI - electric: African Cables (Pty) Limited, B & W Instrumentation and Electrical Limited, CCG Cable Terminations Pty Limited, South Ocean Holdings Limited, Power Technologies (Pty) Limited, Industrial Cable Suppliers (Pty) Limited and General Cable Sub – Sahara Africa are among others are some of the key players in the wire and cable market.