Key drivers for Cables & Accessories Market is the growing demand for renewable energy, fast industrialization & urbanization, worldwide thriving HVDC plans, & government aids, & initiatives to increase & upgrade the current T&D infrastructure. The increase in power capacity on a world scale, offshore wind rules in emerging nations, replacement of conventional grids by ‘Smart Grids’, & up-gradation of infrastructure in developing markets will open fresh avenues for the Cables & Accessories market during the forecast period.
On the other hand, restricted funds, compound planning & authorization of plans, & the consequent delays in their application, steeply-priced raw materials, & easily available cheap products in grey markets are stimulating market development. A lack of technical expertise for employing HV schemes is also hampering the market development.
10 nations will account for 80 percent of total smart grid investment by 2030:
Utilities worldwide will together invest more than USD 378 Bn in constructing electricity smart grids by the year 2030. But 80 percent of this investment spend will be focused on just 10 nations, during the forecast period, the US will lead global capital expenditure, as United States government stimulus funding pushes a mass-market the roll-out of progressive metering infrastructure. By the year 2030, the United States will spend USD 60 Bn on intelligent smart grid infrastructure. This contains grid automation, infrastructures, IT systems & hardware, systems integration, & home area network equipment, in addition to smart meters.
You can browse the market data tables and figures spread through a comprehensive research report and in-depth ToC on “CABLES & ACCESSORIES MARKET”.
https://www.maximizemarketresearch.com/market-report/cables-accessories-market/727/
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