India Insulated Wire and Cable Market to be driven by the growing adoption of PVC type wire and cables by 2028.
Increasing investments in smart grids and up-gradation of
power transmission and distribution systems are driving the insulated wire and
cable market in the forecast period 2024- 2028 across India.
According to TechSci Research report, “India Insulated Wire and Cable Market - By Region, Competition,
Forecast & Opportunities, 2018-2028F”, the India Insulated Wire and Cable Market is expected to
register robust growth during the forecast period 2024-2028. The market is expected to be driven by
factors such as the growth in renewable power generation in India, the
expansion and revamping of transmission & distribution infrastructure in
India and increasing investments in metro railways. Increased investments in
smart grid projects and up-gradation of power transmission and distribution
systems are estimated to propel the demand for insulated wires and cables across
the country. Also, significant investments in smart grid technology resulted in
an increasing need for grid interconnections.
Additionally, rising investments in
underground cables and the growth of renewable energy are set to escalate the
adoption of insulated wires and cables. Insulated wire and cables demand is
directly dependent on the growth of the manufacturing industry and
infrastructure in the power, telecommunications, residential, and commercial
sectors. Thus, the government’s
initiatives on various fronts like power, housing, infrastructure, and
digitization are sure to generate a lot of business for the insulated wire and
cable industry in the foreseeable future.
Likewise, with the government’s emphasis
on pushing renewable energy to the forefront, the industry is now looking
forward to supplying cables for solar and wind power applications in addition
to oil and gas, railways and other specialized segments. Insulated wire and
cables are deployed across an extensive range of applications which include
consumer electronics, utilities, material handling, automotive, and
entertainment/leisure amongst others. Growing inclination toward the expansion
of prevailing grid networks coupled with lack of efficient electric
infrastructure will propel the industry outlook over the forecast timeline.
The insulated wire and cable industry
has vast potential in growth in coming years, but it has some challenges also,
the increasing price rise and competition from Chinese imports. The insulated wire
and cable industry is experiencing instability in raw material prices, as the
price of copper continues to increase, and they become uncompetitive in the
international market. Country is experiencing an all-time high price of fuel and
has direct impact on domestic transportation, in result wire and cable
transportation has increased. Also, a large section of the industry is still
unorganized; there is a lack of quality product offerings from these players
due to non-compliance with the product guidelines.
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on the "India Insulated Wire and Cable Market.”
India insulated wire and cable market is segmented into type, rating, product
installation, end user, and region. Based on type, the market is segmented into
XLPE, HDPE, HMWPE, and PVC. Based on rating, the market is segmented into low
voltage, medium voltage, high voltage, and ultra-high voltage. Based product
installation, the market is segmented into overhead and underground. Based on
end user, the market is segmented into telecommunication, energy & power,
electronics, construction, automotive, and others. The market analysis also
studies the regional segmentation to devise regional market segmentation,
divided among north, east, west, and south.
Based on type, PVC is expected to dominate in India insulated wire and cable
market because PVC wires and cables are widely used due to excellent properties
such as chemical, heat and water resistance, robustness, durability, and
versatility. The only specialty in PVC wires and cables is the insulation or
sheathing material used. Moreover, PVC is becoming a commonly used material for
many wires and cable constructions recently.
Based on product installation, underground is expected to dominate the India Insulated
Wire and Cable Market. Underground insulated wire and cables can survive in
tough weather conditions whether it is dry or rainy. These types of cables can
be buried in the ground without a conduit.
Key market players in the India insulated wire and cable market include:
- Polycab
Wires Pvt. Ltd.
- Havells
India Ltd.
- Finolex
Cables Limited
- KEI
Industries Ltd.
- RR Kabel
Limited
- Universal
Cables Ltd.
- Uniflex
Cables Limited
- V-Guard
Industries Ltd.
- Gupta Power
Infrastructure Ltd.
- KEC
International Limited
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“The rapid expansion of
government investment in infrastructure development projects would cause the
insulated wire and cable market in India to expand. The growth of home
electronics and the construction of smart cities in the nation would drive the demand
for insulated wire and cable in the Indian market. Over the projected period,
the insulated wire and cable market is expected to expand because of the
manufacturing sector's development as part of the Indian Manufacturing
Initiative.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
India Insulated Wire and Cable Market By Type (XLPE, HDPE, HMWPE, PVC),
By Rating (Low Voltage, Medium Voltage, High Voltage, Ultra High Voltage), By Product Installation
(Overhead, Underground), By End User (Telecommunication, Energy & Power,
Electronics, Construction, Automotive, Others), By Region, Competition Forecast
& Opportunities, 2028F has assessed the India Insulated wire
and cable market's future development potential and provides data and
information on market size, structure, and projected market growth. The
report's goal is to give current market knowledge and assist decision makers in
making informed investment decisions. Furthermore, the study identifies and
analyses emerging trends, as well as key drivers, constraints, and
opportunities in the India insulated wire and cable market.
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