In 2020, the rapid spread of COVID-19 had a severe impact on the manufacturing operations across major industries, including aerospace, IT and telecom, electrical equipment, and construction in India. This coupled with economic uncertainty in several states led to disruptions in the production and supply in the wire and cable industry. However, the market is expected to recover and register a 3.25% year-over-year growth in 2021 with the resumption of manufacturing activities across various sectors.
The market is expected to be driven by factors such as the growth in renewable power generation in India, the expansion and revamping of T&D infrastructure in India, and increasing investments in metro railways.
Electric Wire and Cable Market in India: Opportunities
The Government of India has been investing significantly in infrastructure development plans over the past few years. For instance, the country allocated extra funds for the development of the railway sector in its 2019 annual budget. Also, the Ministry of Power (India) is making significant investments to electrify all villages in the country by 2021. Moreover, the increasing demand for uninterrupted power supply and the rising emphasis on renewable power is expected to provide several growth opportunities for market vendors during the forecast period.
Electric Wire and Cable Market in India: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the railway segment in 2020. Indian Railways is the single largest employer in the country and the 8th largest employer in the world. Over the years, the Government of India has continuously worked on strengthening the growth of the railway sector. For instance, the Vision 2024 initiative by the Indian government is expected to achieve a freight loading target of 2024 MT by 2024. This is expected to attract investments of around USD 190 billion over the next 5 years. Many such developments are expected to drive the growth of the market in the railway segment during the forecast period.
Develop strategies to make the most of future growth opportunities
Grab an Exclusive Report Now!
Electric Wire and Cable Market in India: Major Vendors
Apar Industries Ltd.
The company offers various types of cables including MV/HV XLPE insulated power cables, LV XLPE insulated power cables, LV & MV aerial bunch cables, screened and instrumentation cables, concentric core (anti-theft) cables, and others.
Finolex Cables Ltd.
The company offers electric wires and cables which are manufactured using more than 99.97% pure electrolytic grade, bright annealed bare copper with more than 100% conductivity.
Havells India Ltd.
The company offers domestic and industrial switch gears, electrical wiring accessories, industrial motors, pumps, capacitors, domestic cables, and industrial underground cables. The company offers electric wire and cables under the brand, Havells.
KEI Industries Ltd.
The company is involved in the manufacturing, sale, and marketing of power cables such as low tension, high tension, and extra-high voltage (EHV), control and instrumentation cables, specialty cables, elastomeric / rubber cables, submersible cables, flexible and house wires, and winding wires. The company offers various types of electric wire and cables such as EHV cables up to 400 kV and high voltage cables.
Polycab India Ltd.
The company offers a wide range of electrical wires and cables including mv power cables, mv single-core power cable, lv power cable, lv control cable, and others.
Related Reports on Electric wire and cable Market:
Global Submarine Power Cable Market – Global 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).
Download an Exclusive Free Sample Report
Global Cable Tray Market – Global cable tray market is segmented by end-user (commercial, industrial, and residential) and geography (APAC, North America, Europe, South America, and MEA).
Download an Exclusive Free Sample Report
Global High-voltage Power Cable Market – Global high-voltage power cable market is segmented by product (High-voltage and Extra-high voltage) and geography (APAC, Europe, North America, South America, and MEA).
Download an Exclusive Free Sample Report
Global Overhead Cables Market – Global overhead cables market is segmented by type (high voltage, medium voltage, and low voltage) and geography (APAC, Europe, North America, South America, and MEA).
Download an Exclusive Free Sample Report
Global Offshore Wind Cable Market – Global offshore wind cable market is segmented by product (export cable and inter-array cable) and geography (APAC, Europe, MEA, North America, and South America).
Download an Exclusive Free Sample Report
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Railway – Market size and forecast 2020-2025
- Power – Market size and forecast 2020-2025
- Construction – Market size and forecast 2020-2025
- Telecom – Market size and forecast 2020-2025
- Others – Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Power cable – Market size and forecast 2020-2025
- Specialty cable – Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Apar Industries Ltd.
- Finolex Cables Ltd.
- Havells India Ltd.
- KEI Industries Ltd.
- Panasonic Corp.
- Polycab India Ltd.
- RR Kabel Ltd.
- Sterlite Power Transmission Ltd.
- Syska Led Lights Pvt. Ltd.
- V-Guard Industries Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
Report: www.technavio.com/report/electric-wire-and-cable-market-in-india-industry-analysis
SOURCE Technavio
Leave a Comment