Growing Automobile and Telecommunication Industries in SA drives Wire and Cable Market
Wires and cables form an integral part of the modern day industries. South Africa, a developing nation holds a significant potential for the wire and cable industry. Wire and cable form the backbone of the present information age, providing users with power, light and communication. Wires and cables are used in industries such as power transmission & distribution, buildings, automotive, home appliances and communications among others. Moreover, developments in the infrastructure and increasing capacity of the transmission grid are further expected to stimulate the demand for communications and power cable.
Wire and Cable Market-
Low Voltage Wire and Cables Find Application in Several Industries
On the basis of voltage, the South Africa wire and cable market has been segmented into low voltage, medium voltage, and high voltage. The voltage capacity or power is provided to the end-user or included in a device as per their requirement.
Among all the voltage type, low voltage wire and cable sector dominates the market. This sector finds its application in various industries such as communications, buildings, power distribution and transmission, automobiles, and electronic applications.
Copper Wire and Cable Sector to Continue with the Dominance in South Africa Market
The South Africa wire and cable market has been categorized according to its types, which are aluminum, fiber optic, copper, and others. In 2013, the copper wire and cable segment dominated the South Africa market with a 38.17% market share, followed by the fiber optic cables segment.
The domination of the copper segment is anticipated to continue throughout the forecast period. The rising demand of copper is due to the investments made by the South African government in infrastructure sector. These rising investments are anticipated to fulfill the demands of a rapidly growing population and economy of South Africa. Copper wire and cable are widely used in power generation, telecommunications, electronic circuitry, distribution and transmission among other types of electrical equipment.
The South Africa wire and cable market is anticipated to touch US$834.5 billion by the end of 2020, exhibiting a progressive 12% CAGR between the years 2014 and 2020. The South Africa wire and cable market was valued at US$355.0 million in 2013.
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South Africa is witnessing a tremendous growth of automobile industry which is boosting the wire and cable market in the country. Apart from that, the growth in local cable manufacturers and the government initiatives to procure from these local manufacturers are expected to further propel the demand of wire and cables market in South Africa. Moreover, the increasing in-vehicle wiring application bears the biggest opportunity for key players for providing specialty automotive wire and cable in the forecast period. On the other hand, the rising environmental concerns regarding the recycling and safe disposal of wire and cables is hampering the