The South Africa market for wire and cable is predicted to rise in the next few years, thanks to the growing focus of the leading players on the research and development activities. The key players in the market are predicted to focus on the strategic partnerships and mergers and acquisitions, which is likely to offer potential growth opportunities for the market players in the next few years.
According to the market research, the South Africa market for wire and cable is estimated to reach a value of US$834.5 million by the end of 2020. The market is predicted to register a healthy 12.0% CAGR between 2014 and 2020.
The South Africa market for wire and cable has been categorized on the basis of type into aluminum, copper, fiber optic, and others. Among these, the copper wire and cable segment are projected to lead the overall market in the next few years due to the rising developments in power generation. In addition to this, the rapid growth of the electronic circuitry, distribution and transmission, telecommunications, automobiles and several other types of electrical equipment is further projected to enhance the growth of this segment in the next few years.
The South Africa low voltage wire and cable segment is projected to witness high growth in the next few years. The rising number of developments in the power transmission and distribution sector is one of the major factors, which is estimated to encourage the growth of the South wire and cable market in the next few years. The high adoption of wire and cable in the communications segment is another factor that is predicted to support the growth of the overall market throughout the forecast period. Furthermore, the rising demand for wire and cable and the rising demand for automobiles, in which the wires and cables are being used in different applications are estimated to encourage the growth of the market in the near future.