Market Size of Cable Accessories Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cable Accessories Market Analysis
The Cable Accessories Market is expected to grow at a CAGR of over 4% during the forecast period.
The market was moderately impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Over the medium term, factors such as the growing electricity generation and consumption, along with changing power generation industry dynamics, are expected to drive the transmission and distribution network growth, which, in turn, is expected to drive the cable accessories market.
- On the other hand, challenges such as intricate project planning, delay in approval procedures, and funding constrictions for power projects at a global level are expected to hinder the growth of the cable accessories market.
- Nevertheless, with rising electrification projects in Africa, cables are used for power generation transmission and distribution from substations to the customer. The increasing rural electrification in African and Asian countries is expected to offer tremendous opportunities for cable accessories market players.
- Asia-Pacific is expected to be the largest and the fastest growing region during the forecast period, bolstered by a high urbanization growth rate and growing electricity demand, mainly from China and India.
