The Latin America low voltage cables market size is expected to reach USD 10.54 billion by
2022 growing at a CAGR of 8.0% from 2015 to 2022, according to a new report by
Grand View Research, Inc. Latin America has undergone a high degree of
industrialization over the last decade with several multinational companies
making their presence in this region. These companies need high operating
power, which has consequently increased the demand for power cables used in
distribution networks. These products are required in high quantity for machine
installation and power transmission and distribution.
Low voltage power cables have expanded into
several application sectors including conventional electrical power supply as
well as gadget assembly. Sophisticated gadgets have penetrated into the Latin
American as well as the Central American markets owing to the rising disposable
income of people and a general increase in awareness about the latest
technology introduced in the market.
With the advent of industrialization,
robots have been installed to increase production as well as perform dangerous
tasks deemed unsafe for humans in a safe manner. These robots also perform
dull, monotonous tasks efficiently, thereby boosting production to a large
extent. These products are used in industrial robots, thereby boosting low
voltage power cables market demand.
Full research report on Latin America low voltage
cables market analysis: http://www.grandviewresearch.com/industry-analysis/latin-america-low-voltage-cables-market
Further key findings from the report suggest:
·
Building and distribution applications led
the low voltage power cables market in 2014 and are expected to continue their
dominance over the forecast period. Latin America has witnessed stupendous
infrastructural development over the last decade, which has directly increased
demand in residential & commercial buildings as well as electricity
distribution.
·
Brazil dominated overall revenue in 2014,
accounting for over 40% of the share. The country has witnessed the inception
of a plethora of industries over the last decade. The automotive industry in
Brazil is thriving and is expected to continue to perform well over the
forecast period. Low voltage cables are essential in power distribution to
these factories, which involve a high degree of automation.
·
Major industry participants include Nexans,
Prysmian, General Cable, Southwire, The Siemon Company, Remee Products, and ABB
Ltd. Prominent low voltage power cables market players focus on development of
sturdy, tamper-proof, and eco-friendly products to ensure public safety. For
instance, Prysmian Group has pioneered the development of a polymer for its
cables that absorbs, impacts, and alleviates the risk of permanent damage to
its submarine and underground layers. General Cable supplies halogen-free
products in the market.
View
more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/construction-and-utilities
Grand View Research has segmented the Latin America low voltage cables
market on the basis of application and region:
Low Voltage Cables Application Outlook
(Revenue, USD Million, 2012 - 2022)
·
Building
·
Distribution
·
Specialty
Low Voltage Cables Regional Outlook
(Revenue, USD Million, 2012 - 2022)
·
Brazil
·
Costa Rica
·
Cuba
·
Jamaica
·
Dominican Republic
·
Panama
Access Full
Press Release of this Report: https://www.grandviewresearch.com/press-release/latam-low-voltage-cables-market-analysis
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquart ered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: https://www.grandviewresearch.com/
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