The global wire processing machines market to grow at a CAGR of 9.10% during the period 2017-2021.
The report, Global Wire Processing Machines Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is use of automated processing machines in small RF and coax cables. Cell phones, tablets, global positioning system (GPS) devices, and other mobile electronic devices are smaller and powerful than ever and require high complex transmission mechanisms. To meet these requirements, ultra-miniature radio frequency (RF) cables have now become essential in mobile devices.
According to the report, one driver in market is expansion and revamping of the T&D infrastructure in India. Power cables, a critical segment of the power sector, are witnessing an escalating demand owing to the growth in power generation infrastructure. India is one of the biggest consumers of electric energy after the US and China. With rapid industrialization and urbanization of the country, it is believed that there will be an enormous demand for electricity within the country. However, the overall generation capacity is unable to cater to the existing demand. Moreover, the transmission and distribution (T&D) infrastructure is quite old and needs extensive renovation. The exhibit below shows India's power supply position for the year 2015-2016.