New Cable Accessories Market Research 2020-2024 | Market Impact Analysis for the New Normal | Technavio

The new cable accessories market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201228005298/en/

Technavio has announced its latest market research report titled Global Cable Accessories Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the cable accessories market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the large-scale deployment of explosion-resistant cable terminations,” says a senior analyst for industrials at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the cable accessories market size to grow by USD 6.91 billion during the period 2020-2024.

Cable Accessories MarketSegment Highlights for 2020

• The cable accessories market is expected to post a year-over-year growth rate of -5.43%.
• Based on the application, the low voltage segment saw maximum growth in 2019. Large-scale deployment of explosion-resistant cable terminations has been driving the cable accessories market growth.
• The growth of the segment will be significant during the forecast period.

Regional Analysis

• 49% of the growth will originate from the APAC region.
• The growing adoption of renewable energy technology in major developing nations is one of the prime factors that will facilitate the cable accessories market growth in the APAC region.
• China, India, and Japan are the key markets for cable accessories in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Submarine Power Cable Market- The submarine power cable market is segmented by end-user (offshore wind, island connection and inter-country, offshore oil, and others) and geography (Europe, APAC, North America, MEA, and South America). Click Here to Get an Exclusive Free Sample Report

Global Offshore Wind Cable Market- The offshore wind cable market is segmented by product (export cable and inter-array cable) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

Notes:

• The cable accessories market size is expected to accelerate at a CAGR of over 3% during the forecast period.
• The cable accessories market is segmented by application (Low voltage, Medium Voltage, and High voltage) and Geography (APAC, Europe, North America, MEA, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including 3M Co., ABB Ltd., Hubbell Inc., Kabelwerk Eupen AG, Nexans SA, Prysmian Spa, Southwire Co. LLC, Sumitomo Corp., TE Connectivity Ltd., and Trelleborg AB

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005298/en/