According to the latest Market Research Report on global technology research and consulting firm， Technavio released the global power cable market in 2021 is expected to reach 107 billion 550 million dollars (about 740 billion 300 million yuan), a CAGR of nearly 7%.
Of which "Low voltage power cable is mainly used in residential buildings, the most used rated voltage is 300V/300V, 450/750V, 600V/1000V. By 2021, this relatively small area will reach $17 billion (about 117 billion 10 million yuan)."
Rising real estate investment and the growing construction industry is driving demand for low voltage power cables. The rapid economic growth in the Asia Pacific region, Latin America and the Middle East has led to the growth of the housing market and the direct growth of demand for power cables.
The report pointed out that the world's top supplier of power cable Market: Prysmian, general cable, Ancan, Nexans, Sumitomo electrician.
Note: This article uses real-time exchange rate of 1 U.S. dollars =6.8832 yuan