Wires And Cables Market To Predict Global Expansion, Owing To Increased Investments In Smart Upgrading Of The Power Transmission And Distribution Systems

  

Wires And Cables Industry Overview

 

The global wires and cables market size is expected to reach USD 260.16 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 4.4% from 2021 to 2028. Wires and cables are one of the essential components of infrastructure development across the world. The growing emphasis on investments and government initiatives to generate power from renewable sources has enforced the adoption of wires and cables across the globe. Increasing funds in the upgradation of infrastructure and the demand for refined power transmission and distribution systems are the key factors driving the market over the forecast period.

 

Wires And Cables Market Segmentation

Grand View Research has segmented the global wires and cables market report by voltage, installation, end-use, and region:

 

Based on the Voltage Insights, the market is segmented into low voltage, medium voltage, high voltage and extra high voltage

• The low voltage segment accounted for the largest revenue share in 2020, with around 43% market share, owing to the high usage of low voltage cables in building wires, LAN cables, appliance wires, distribution networks, and others. These wires and cables support the smart grids in delivering superior electric supplies and offer an improved provision of electric supply for end-use consumers.
• The energy and power sectors across the world are experiencing a rapid alteration. Most of the developing and developed countries are experiencing heavy demand for electricity and are moving towards the incorporation of large-scale renewable resources.
• The high voltage wires and cables are used for transmission of electricity from 1,000 volts. These cables are coated with paper and oil, to avoid direct contact of the cables with an individual or any other material.
• The quality of high voltage cables depends upon the insulation material type used. The high demand for these cables from the end-users such as power distribution, oil and gas, telecom, aerospace and defense is the major factor responsible for the growth of the high voltage cable market over the forecast period.

 

Based on the Installation Insights, the market is segmented into overhead and underground

• The overhead installation segment accounted for the largest revenue share in 2020, with around 64% market share. The overhead installation technique is the most widely used approach across the world. The overhead approach of wires and cables is the easiest and cheapest form of installation.
• The overhead installation technique is mostly adopted in countries with a lower population. However, countries with a high risk of natural calamities such as earthquakes and floods tend to have overhead cable installation.
• The underground installation segment is expected to expand at the highest CAGR over the forecast period. The underground cable installation lowers the maintenance costs, incurs fewer transmission losses, and hence, effortlessly sustains the power loads.
• The demand from various sectors such as commercial, residential, automotive, telecom, and energy and power industries are leading to expansion and upgradation of infrastructure, which in turn is anticipated to drive the demand for the wire & cables market.
• The developing countries such as India, China, Vietnam, amongst others are spending a significant portion of their GDP on infrastructure development.

 

Based on the End-use Insights, the market is segmented into aerospace & defense, building & construction, oil & gas, energy & power, IT & telecommunication and others

• The energy and power segment accounted for the largest revenue share in 2020, with around 37% market share.
• Several technological upgrades such as shifting the old transmission lines to high/extra high voltage lines to avoid the transmission losses are been made in the electricity T&D ecosystem. These changes aim at making the ecosystem stable in contradiction of the alternating nature of renewable sources of energy.
• Introduction of new methodologies such as synchronized charging of electric vehicles and net metering for solar homes have aggressively affected the utilities sector.
• Growing renewable power capacity and energy generation have further augmented the need of countries to interrelate their transmission systems. This link-up is expected to balance the power generation and demand through the export and import of electricity.
• With the rise in the generation of renewable energy, the electricity trade is anticipated to increase, thus resulting in the construction of high-capacity interconnection lines, in turn driving the market.
• Building and construction segment is expected to expand at the highest CAGR of 5.0% over the forecast period. However, refurbishment in aging commercial, residential, industrial buildings, and new construction worldwide supports the growth of the market.
• Developing countries in the Middle East and Africa, South America, and the Asia Pacific region are undertaking new construction infrastructures, including rail signaling, rail tunneling, and expansion in power generation and distribution.
• Owing to factors including infrastructure development, economic growth in developing countries, and increasing internet penetration, the wire and cable market is anticipated to grow over the forecast period.

 

Wires And Cables Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market is highly competitive and concentrated, with the top three companies accounting for the majority revenue share in 2020. Belden Inc.; Nexans; and Fujikura Ltd. are some of the dominant market players. The vendors in the market focus on expanding their customer base to obtain a competitive edge. Therefore, key companies take various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/technology development.

 

Some of the prominent players operating in the wires and cables market include:

• Belden Inc.
• Fujikura Ltd.
• Furukawa Electric Co., Ltd.
• Leoni AG
• LS Cables & System Ltd.
• Nexans
• NKT A/S
• Prysmian SpA
• Sumitomo Corporation

 

Market Industry Development

• June 2020: Nexans announced that the company has completed the delivery of 1,700 km of signaling cable for the BSA project in Egypt.
• October 2019: Audax Management Company, LLC., an American alternative investment management company, completed the acquisition of EIS Inc., a North American distributor of production supplies, process materials, connectivity, automation, specialty cable, and value-added fabricated parts. 

 

Order a free sample PDF of the Wires And Cables Market Intelligence Study, published by Grand View Research.

 

LED Lighting Market Is Expected To Shoot The Demand As Of Consumers Are Shifting Towards Green Lighting

  

LED Lighting Industry Overview

 

The global LED lighting market size was valued at USD 55.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030.

 

Increasing construction activities in developed and developing countries, along with stringent government regulations to lower the adoption of inefficient lighting technologies, are the major factors expected to drive the market. LED lights offer high lumen power by consuming less power, better service life, and no flickering. Also, LED manufacturers are focused on integrating solutions such as Wi-Fi, occupancy sensor, and daylighting which is attracting consumers in turn responsible to increase product sales. These factors are contributing to the market growth. LED lights tend to be a better solution compared to other lights such as halogen, CFL, and incandescent lights. LEDs operate at low energy input providing high illumines which is a major reason they are widely deployed in outdoor and indoor settings.

 

Gather more insights about the market drivers, restrains and growth of the Global LED Lighting Market

 

LEDs provide manufacturers the design flexibility, along with the ability to withstand frequent switching. Rising awareness among consumers related to the benefits of LED lights, along with consumers' shift towards green lighting is expected to spur the demand for LED products.

 

International Electrotechnical Commission, American National Standards Institute, and China Compulsory Certification are some major regulatory bodies that regulate product certification. Manufactures after obtaining relevant certifications to sell, import, export, and use the product in business and services. The governments of developed and developing countries are focused on lowering the high energy consumption, they are imposing various regulations related to quality which helps them ensure consumer safety, energy consumption, and monitor environmental issues. LED lights are energy-saving solutions that consume less energy and deliver 50,000 hours of illumination. Thus, strict government regulations related to the use of high energy-consuming lighting are anticipated to favor the market growth.

 

Initially, halogen lights were used in overhead surgical lighting creating distress for doctors during surgery or examination. Also, the examination room and minor surgical lights consisted of 50 to 100 W halogen bulbs which resulted in high energy consumption and high heat emission. Thus, rapid technological advancements in the medical devices industry to replace the outdated or inefficient devices/equipment and manufacturer approach towards integrating LEDs in surgical lighting, exam lights, phototherapy, and endoscopy to enhance the patient treatment experience are factors expected to boost the target market growth.

 

In 2020, the COVID-19 pandemic negatively impacted the global market. Strict lockdowns and temporary suspensions of construction sites resulted in a decline in demand for LED lighting. However, in the second quarter of 2021, construction activities witnessed growth with the introduction of new as well as redesigning projects, thus leading to the gradual recovery of the LED lighting market.

 

Browse through Grand View Research's  Electronic Devices Industry Research Reports.

• Outdoor LED Display Market - The outdoor LED display market was estimated at over USD 1.6 billion in 2014. Increasing demand for better resolution and affordable solutions is expected to drive the industry over the forecast period. The industry is characterized by rising trend towards interactive media.
• North America LED Lighting Market - The North America LED lighting market size was valued at USD 7.3 billion in 2018 and is expected to register a CAGR of 9.6% from 2019 to 2025. Technological advancements and rising concerns over environmental protection have increased the need for energy-efficient lighting products among industrial, commercial, and residential applications across North America.

 

LED Lighting Market Segmentation

Grand View Research has segmented the global LED lighting market on the basis of product, application, end use, and region:

LED Lighting Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Lamps
  • A-Lamps
  • T-Lamps
  • Others
• Luminaires
  • Streetlights
  • Downlights
  • Troffers
  • Others

LED Lighting Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Indoor
• Outdoor

LED Lighting End Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Commercial
• Residential
• Industrial
• Others

LED Lighting Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Market Share Insights

• October 2021: Luminii, a U.S.-based global LED lighting solution provider announced the acquisition of Precision Lighting and Remote Controlled Lighting, two British lighting manufacturers. 
• September 2021: Under EU regulations the minimum efficiency requirement for general service lighting was set at 91 lm/W. Likewise, in 2017, European Union started using an A (efficient) to G (inefficient) scale which is expected to help the customers make better-informed purchasing choices related to purchasing energy-efficient electronic goods.

 

Key Companies profiled:

Some prominent players in the global LED lighting market include

• Acuity Brands Lighting Inc.
• Cree Lighting
• Dialight
• Digital Lumens Inc.
• Hubbell
• LSI Industries Inc.
• LumiGrow
• Panasonic Corporation
• Siteco GmbH
• Signify Holding
• Semiconductor Co. Ltd.
• Zumtobel Group Ag

 

Order a free sample PDF of the LED Lighting Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Electric Motor Market To Surpass $ 232.5 Billion By 2028, As Of Rising Number Of Government Incentives To Encourage Sales Of Green Vehicles

  

Electric Motor Sales Industry Overview

 

The global electric motor sales market size was valued at USD 142.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028.

 

An increase in awareness regarding green vehicles among customers has been a key factor driving the market. Besides this, a rising number of government incentives to encourage sales of green vehicles for safeguarding the environment from carbon emissions is expected to provide a fillip to the market. Electric motors have been observing several advancements in technology over the past few years, owing to which its demand is gaining traction. Additionally, the advent of better insulation materials has improved operational efficiency and the product's life, which has subsequently driven the market. The market is estimated to witness noteworthy growth over the forecast period owing to an increase in automobile production over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Electric Motor Sales Market

 

The product is used in fans, pumps, compressors, machine tools, domestic appliances, electric cars, HVAC applications, power tools, and automated robots. These high-efficiency motors are gaining importance, owing to various factors. These include long operating life, low maintenance, energy consumption, and a high tolerance for fluctuating voltages, thus enabling cost savings. Countries such as Brazil, the U.S., Argentina, China, and India are major markets, with a high adoption rate for energy-efficient products in both the industrial and agricultural sectors.

 

The demand for energy-efficient motors is driven by rising electricity prices and stringent electricity consumption standards. Additionally, stringent manufacturing and designing standards for improving their efficiency are further mandating manufacturers to develop efficient products. The market is gradually shifting towards the adoption of efficient motorized systems. However, lack of awareness about their advantages and high initial purchase cost are keeping the market from realizing its utmost potential.

 

Environmental benefits offered by electric motors are boosting their implementation in electric vehicles. These machines aid in augmenting a device’s efficiency, as compared to standard ones, and saving costs related to energy consumed. Moreover, rising responsiveness towards environmental changes and the greenhouse effect is anticipated to shift consumers’ focus towards electric type, which is projected to bolster the demand. The need for low power consumption and improved efficiency products is poised to fuel the demand for the product over the next few years.

 

Browse through Grand View Research's Electronic Devices Industry Research Reports.

• Electric Vehicle Market - The global electric vehicle market demand was estimated at 2,373.5 thousand units in 2019 and is expected to witness a CAGR of 41.5% 2020 to 2027. The market is driven by initiatives taken by governments of various countries to promote the manufacturing of electric vehicles (EVs).
• HVAC Systems Market - The global HVAC systems market size was valued at USD 136.3 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. Varied climatic conditions and the need to maintain an ambient environment in a building is a key trend that is expected to impact the market over the forecast period.

 

Electric Motor Sales Market Segmentation

Grand View Research has segmented the global electric motor sales market on motor type, power output, application, and region:

Electric Motor Sales Motor Type Outlook (Revenue, USD Billion, 2016 - 2028)

• AC
  • Synchronous AC
  • Induction AC
• DC
  • Brushed DC
  • Brushless DC
• Hermetic Motor

Electric Motor Sales Power Output Outlook (Revenue, USD Billion, 2016 - 2028)

• Integral HP Output
• Fractional HP Output

Electric Motor Sales Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Industrial Machinery
• Motor Vehicles
• HVAC Equipment
• Aerospace & Transportation
• Household Appliances
• Others

Electric Motor Sales Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Key Companies profiled:

Some prominent players in the global electric motor sales market include

• Baldor Electric Company, Inc.
• Ametek Inc.
• Franklin Electric Co., Inc.
• Asmo Co., Ltd.

 

Order a free sample PDF of the Electric Motor Sales Market Intelligence Study, published by Grand View Research.

 

Microcontroller Market To Predict Global Expansion, Due To Growing Awareness Regarding Smart Energy Management With The Emergence Of Smart Grids

  

Microcontroller Industry Overview

 

The global microcontroller market size was valued at USD 18.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

 

Globally, more than 29 billion units of microcontrollers were shipped in 2021. Microcontrollers are majorly used in devices that require a considerable degree of control utilized by the users. The increasing competition in the industry has led to the low price of the product, which will drive the demand for microcontrollers. The growing awareness regarding smart energy management with the emergence of smart grids is expected to increase the MCU demand. The COVID-19 pandemic has had a substantial impact on the semiconductor manufacturing industries across the globe.

 

The fall in production and exports of microcontrollers in the countries, such as China, Germany, the U.S., Japan, and South Korea, coupled with the labor shortage, has significantly declined the overall market revenue in 2020. However, as the lockdown restrictions are getting lifted in several countries such as the U.K. and Germany, the manufacturing facilities have started operating with reduced work capacity to limit the spread of COVID-19. With the growing demand for 5G network equipment, servers, and electric and autonomous vehicles (EV) applications globally, microcontrollers' adoption is expected to see a remarkable surge over the coming years. This, in turn, is estimated to boost the overall market growth over the forecast years.

 

Gather more insights about the market drivers, restrains and growth of the Global Microcontroller Market

 

The critical factor that is boosting the market growth is the rising demand from the medical sector across the globe. The growing percentage of coronavirus cases, the increasing geriatric population, and the rising occurrence of diseases such as diabetes and high blood pressure are other key factors fueling the market growth. As a result, the demand for electronic medical devices to measure oxygen levels, temperature, blood pressure, and sugar levels is increasing. Microcontrollers can decrease the cost of medical devices and help provide accurate reading and information about the condition of the patient. As such, the demand for microcontrollers from medical equipment manufacturers is considerably increasing.

 

Microcontrollers are used in numerous devices from various applications such as automotive, industrial, telecommunications, healthcare, and consumer electronics. The automotive sector is driven by an increase in the number of luxury cars that use advanced microcontrollers. The electric vehicle market is rapidly growing, which is anticipated to further boost the product demand. As a result, with the growing demand for vehicles, the automotive sector is expected to contribute considerably to the growth of the global market from 2022 to 2030. However, the global slowdown in the sales and production of vehicles can affect the growth as microcontrollers are majorly used in automotive applications.

 

Increasing awareness regarding smart energy management with technological advancements is expected to boost the growth further. The smart grid is one of the technologies that combine with electrical networks and digital communication to facilitate remote control facilities. A smart grid uses smart meters and a communication channel to communicate. Hence, microcontrollers are used for ensuring communication between physical locations. Thus, smart meter installations under smart grid initiatives are expected to drive the market considerably.

 

Recently, the market is witnessing an increased demand for Internet of Things (IoT) MCUs. The growing web of connected devices encompasses smartphones, televisions, tablets, home appliances, gaming consoles, smart meters, and security systems. By leveraging this ever-increasing web of devices, the demand for IoT microcontrollers is rapidly growing. Increasing competition has led to the reduced prices of the product, which is anticipated to further fuel the product demand. The declining average selling prices, coupled with high demand from major application areas, are expected to drive the market over the forecast period.

 

Browse through Grand View Research's Electronic Devices Industry Research Reports.

• IoT Microcontroller Market - The global IoT microcontroller market size was valued at USD 4.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% from 2022 to 2030. The increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected products are some of the primary factors to drive the market growth.
• Autonomous Vehicles Market - The global autonomous vehicles market demand was estimated at 51.6 thousand units in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 53.6% from 2022 to 2030.

 

Microcontroller Market Segmentation

Grand View Research has segmented the global microcontroller market on the basis of product, application, and region:

Microcontroller Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• 8-bit
• 16-bit
• 32-bit

Microcontroller Application Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Automotive
• Consumer Electronics & Telecom
• Industrial
• Medical Devices
• Aerospace & Defense
• Others

Microcontroller Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

 

Market Share Insights

• November 2020: Renesas Electronics Corporation in collaboration with ALTRAN, an engineering and R&D service provider (A Capgemini Subsidiary), developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology.

 

Key Companies profiled:

Some prominent players in the global microcontroller market include

• Infineon Technologies AG
• Microchip Technology Inc.
• NXP Semiconductor
• Renesas Electronics Corporation
• STMicroelectronics
• Texas Instruments Incorporated

 

Order a free sample PDF of the Microcontroller Market Intelligence Study, published by Grand View Research.