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India’s Electric Wire and Cable Market to Grow by USD 2.14 Billion (2024-2028), AI Impact and Renewable Power Growth Driving Revenue–Technavio Report

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NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global electric wire and cable market in India  size is estimated to grow by USD 2.14 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.36%  during the forecast period. Growth in renewable power generation in India is driving market growth, with a trend towards increase in sales of HVDC power cables. However, compliance with government regulations for electric wires and cables  poses a challenge. Key market players include Apar Industries Ltd., Cable Corporation of India Ltd., Diamond Power Infrastructure Ltd., Finolex Cables Ltd., Gupta Power Infrastructure Ltd., Havells India Ltd., KEI Industries Ltd., Lapp Holding SE, LS Corp., Panasonic Holdings Corp., PLAZA CABLES, Polycab India Ltd., RR Kabel, Sark Cables Pvt. Ltd., Sterlite Power Transmission Ltd., Syska Led Lights Pvt. Ltd., Traco Cable Co. Ltd., Universal Cables Ltd., V Guard Industries Ltd., and Vindhya Telelinks Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Railway, Power, Construction, Telecom, and Others), Type (Power cable and Specialty cable), and Geography (APAC)

Region Covered

India

Key companies profiled

Apar Industries Ltd., Cable Corporation of India Ltd., Diamond Power Infrastructure Ltd., Finolex Cables Ltd., Gupta Power Infrastructure Ltd., Havells India Ltd., KEI Industries Ltd., Lapp Holding SE, LS Corp., Panasonic Holdings Corp., PLAZA CABLES, Polycab India Ltd., RR Kabel, Sark Cables Pvt. Ltd., Sterlite Power Transmission Ltd., Syska Led Lights Pvt. Ltd., Traco Cable Co. Ltd., Universal Cables Ltd., V Guard Industries Ltd., and Vindhya Telelinks Ltd.

Key Market Trends Fueling Growth

The Indian electric wire and cable market is expected to grow significantly during the forecast period due to the increasing adoption of high-voltage direct current (HVDC) underground power cables for long-distance and high-voltage power transfer. HVDC systems provide a reliable and efficient solution for bulk power delivery, especially in cross-border infrastructure projects. These projects require large amounts of electricity to be transferred between countries, making HVDC cables a preferred choice. Additionally, HVDC cables are lighter and more compact than their alternating current (AC) counterparts, making them ideal for submarine power transmission and offshore wind projects. The growth of renewable energy, particularly in the wind sector, is also expected to boost the demand for HVDC power cables in India. Therefore, the market for electric wires and cables in India is poised for growth, driven by the increasing adoption of HVDC technology for long-distance power transmission. 

The Electric Wire and Cable market in India is witnessing significant growth due to increasing trends in connectivity and the proliferation of data channels. As the second-largest producer of cables in the world, Indian companies like Finolex and Polycab are leading the charge. The telecom, power distribution, aerospace and defense, aircraft manufacturing, electronics, and renewable energy sectors are key consumers. The infrastructure development in sectors like renewable energy, metro railways, urban transportation, and congestion issues require expansion and modernization, driving demand for electric infrastructure. BlueWeave Consulting, a strategic consulting and research firm, predicts continued growth in the market due to energy demands and the shift towards sustainable energy sources. The overall outlook is positive, with opportunities in power transmission, data transmission, telecommunications transmission, and electrical infrastructure. Single metal conductors and multiple wires carry electric current in wires, while cables consist of insulated conductors for power and data transmission. 

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Market Challenges

The electric wire and cable market in India faces significant challenges due to stringent safety regulations and varying technical specifications for manufacturing and exporting products. Regulatory bodies such as ANSI, IEC, and IEEE set the rules and standards, which impact vendors’ profitability. These regulations vary based on circuit voltage, temperature rating, and environmental conditions. Compliance with these regulations increases production costs, particularly for vendors targeting exports. As a result, the electric wire and cable market growth in India may be hindered during the forecast period due to these factors.The Electric Wire and Cable market in India is growing due to rising urbanization and infrastructure development. However, challenges include complex internal energy markets, requiring joint ventures and license agreements. Smart upgrading and grid modernization through smart grids and underground cables are key trends. Undersea cables and high voltage wires for 5G progress are in demand. The market is moderately competitive, with a Herfindahl index of 1500. Export potential is high, but trade relations, duties, and distance impact competitiveness. India’s increasing internet subscribers and penetration boost fiber optic cable demand. Telecom operators and towers require extensive cabling. Infrastructure projects in rural areas and smart cities also offer opportunities. Low voltage segment growth is driven by electronic devices. Overhead and underground installation methods continue to coexist.

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Segment Overview 

This electric wire and cable market in India report extensively covers market segmentation by

End-user 1.1 Railway1.2 Power1.3 Construction1.4 Telecom1.5 OthersType 2.1 Power cable2.2 Specialty cableGeography 3.1 APAC

1.1 Railway-  The Electric Wire and Cable market in India is growing steadily due to increasing electricity demand and infrastructure development. Key players include Birla Electicals, Finolex Cables, and L&T Construction. The government’s “Power for All” initiative and Smart City projects are major drivers. Import duties on cable imports have been increased to boost local production. The market is expected to reach USD15.2 billion by 2023, growing at a CAGR of 11.5%.

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Research Analysis

The Electric Wire and Cable Market in India is moderately competitive, with numerous domestic and international players. The Herfindahl index indicates a healthy level of competition, ensuring a diverse range of offerings. India’s export potential in this sector is significant due to its large production capacity and competitive labor costs. Trade relations with key markets like the US, Europe, and the Middle East provide opportunities for growth. Duties, tariffs, and distance can impact import and export activities. With over 700 million internet subscribers and increasing internet penetration, the demand for communication cables is surging. Smart grid technology, infrastructure development, and the expansion and modernization of sectors like renewable energy, metro railways, and urban transportation are driving the demand for high-quality wires and cables. BlueWeave Consulting, a strategic consulting and research firm, predicts the market’s growth, driven by the adoption of sustainable energy sources, smart upgrading, smart grids, and the implementation of underground and submarine cables. The market is also witnessing advancements in low voltage segments and high voltage wires, as well as the progress of 5G communication technologies.

Market Research Overview

The Electric Wire and Cable Market in India is moderately competitive with a Herfindahl index of around 0.18, indicating a decent level of competition among domestic and international players. India’s export potential in this sector is significant due to its second-largest production capacity in the world. Trade relations with key markets like the US, China, and the UAE are crucial for the industry’s growth. Duties, tariffs, and distance are key factors affecting exports. With over 700 million internet subscribers and increasing internet penetration, the demand for electric wires and cables in telecom and power distribution sectors is surging. Infrastructure development projects in sectors like smart cities, renewable energy, metro railways, and urban transportation are major growth drivers. The market caters to various sectors, including power, telecommunications, residential, commercial, renewable energy sources, railways, consumer electronics, utilities, material handling, entertainment, and grid networks. Key materials used in the production of wires and cables include copper, aluminum, plastics, and alloys. The overall outlook for the Electric Wire and Cable Market in India is positive, driven by infrastructure development, energy demands, and digitization. Companies like Finolex, Polycab, and BlueWeave Consulting are playing a significant role in the expansion and modernization of the industry, focusing on sustainable energy sources and smart grid technology. However, challenges such as transportation challenges, economic downturn, and budget cuts can impact the market’s growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userRailwayPowerConstructionTelecomOthersTypePower CableSpecialty CableGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Little Lion Entertainment Selects accesso® for Ticketing and Distribution

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TWYFORD, United Kingdom, Oct. 22, 2024 /PRNewswire/ — accesso Technology Group (AIM: ACSO), the premier technology solutions provider for leisure, entertainment and cultural markets is pleased to announce – an agreement with Little Lion Entertainment to provide its accesso Passport® eCommerce ticketing suite and Ingresso ticketing distribution technology to support the operator’s locations starting with The Crystal Maze Live Experience London, The Crystal Maze Live Experience Manchester and Games Arena in Manchester which is currently hosting its first game, Chaos Karts.

With millions of visitors and more than 200 employees in the leisure sector, Little Lion Entertainment is a leading provider of immersive attractions in the UK. Renowned for delivering excellent guest experiences and cutting-edge attractions with international recognition the company is known for high guest satisfaction.

The fully hosted accesso Passport eCommerce ticketing suite helps operators provide their guests with an intuitive and enjoyable eCommerce experience on any device, while driving revenue with up-sell and cross-sell prompts that help ensure guests can plan for their ideal visit. accesso’s ticketing distribution platform, Ingresso, connects operators like Little Lion Entertainment to a global network of third-party distributors to drive increased ticket sales – with potential reach of more than 1 billion new customers – while eliminating long voucher exchange lines at a venue’s entrance by providing guests with real-time live ticket inventory.

“We are thrilled to add Accesso’s solutions into our operations,” said Neil Dolan, Managing Director of Little Lion Entertainment. “By leveraging Passport and Ingresso, we can ensure an even smoother ticketing experience for our guests from start to finish. Our commitment to the guest experience aligns perfectly with Accesso’s advanced technology.”

Nicola Liscio-Heffernan, Sales Director at accesso said, “the excitement of this partnership is fantastic, our implementation team and the key personnel at LLE have really enjoyed the go-live process and we can see a great ‘partnership’ growing already. We have a clear plan going forward to help drive ticket sales, processes and innovation together.”

“The partnership with Little Lion Entertainment is truly exciting, and we’re thrilled to support their mission of delivering extraordinary live entertainment experiences,” said Steve Brown, accesso CEO. “We look forward to driving ticket sales, streamlining processes, and fostering innovation together.”

ABOUT ACCESSO TECHNOLOGY GROUP PLC

accesso is the leading global provider of patented and award-winning technology solutions that redefine the guest experience, drive increased revenue, streamline operations, and support data-driven business decisions for leisure & entertainment operators. Currently serving over 1,200 venues worldwide, accesso invests heavily in research and development to provide venues with technology that empowers them to deliver unforgettable guest experiences. Staffed by a team of attractions and cultural industry veterans, accesso partners with venues to increase their range of on- and off-site guest engagement to drive increased revenue through intuitive ticketing, point-of-sale, virtual queuing, distribution, professional services, and experience management technology. Learn more at accesso.com or follow accesso on X (Twitter) , LinkedIn and Facebook.

ABOUT LITTLE LION ENTERTAINMENT

Little Lion Entertainment is the UK’s premier immersive attractions company, welcoming millions of guests and employing over 300 people in the leisure industry. With two successful Crystal Maze flagships in the UK and a franchise in the Middle East, Little Lion is expanding into new markets with innovative products. The company’s growth is driven by a strong management team, proven financial track record, award-winning experiences, and high customer satisfaction.  Little Lion’s recent acquisition of TEI Games Arenas marks a significant milestone, as TEI has pioneered Live Video-Game attractions with successful launches of Chaos Karts in Manchester (September 2023) and Dubai (April 2024). Additionally, Little Lion has announced a groundbreaking collaboration with Bandai Namco Entertainment to launch PAC-MAN LIVE EXPERIENCE, positioning the company at the forefront of real-life video gaming experiences.  For more information, visit littlelionentertainment.com.

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Minesto takes part in high-level energy transition conference and exhibition, Enlit Europe 2024, in Milan

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GOTHENBURG, Sweden, Oct. 22, 2024 /PRNewswire/ — Minesto is participating in one of the biggest international energy conferences, Enlit Europe 2024 taking place in Milan. The exhibition and conference, hosting 700+ international best-in-class technologies supporting energy transition, is held at Fiera Milano di Rho in Milan, Italy this year from 22 – 24 October. 

The presence of Minesto is strong at Enlit Europe, with CEO Dr Martin Edlund delivering presentations at two sessions on innovation, as well as speaking at the high-level panel session `Next Generation of Renewables’ on how Minesto’s technology contributes to the global energy transition agenda. There will also be a Minesto booth at the exhibition, including a Dragon Class scale model and information about the unique technology.

Minesto’s participation at Enlit Milan aims to establish new relationships and strengthen established partnerships with high-level stakeholders in the energy industry.

Welcome to meet Minesto onsite in Milano, exhibition stand 7.E58.

For program, please see Enlit Europe 22-24 October 2024 – Energy Transition Event

For additional information, please contact:
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/minesto-ab/r/minesto-takes-part-in-high-level-energy-transition-conference-and-exhibition–enlit-europe-2024–in-,c4054341

 

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Global survey reveals strong support for BRICS cooperation, expansion

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BEIJING, Oct. 22, 2024 /PRNewswire/ — A news report by chinadiplomacy.org.cn on BRICS cooperation and expansion:

At the BRICS Seminar on Governance & Cultural Exchange Forum 2024 on Sept. 23, Sun Jingxin, vice president of the Academy of Contemporary China and World Studies, unveiled a report on the “Global Survey: BRICS Cooperation in the New Era of Global Development 2024.” The report, part of the academy’s Global Development and Governance Series, draws from a survey conducted in 30 countries across five continents. It gathers views from over 12,000 respondents on BRICS cooperation, focusing on concept consensus, development capacity, global contribution and future prospects in the current global development context.

The survey reveals strong support for China’s three global initiatives among the respondents. Following the BRICS expansion earlier this year, there has been increased recognition of the group’s core values, operating mechanisms, and practices in global governance. Many developing nations have expressed eagerness to join the “BRICS family” and anticipate greater contributions from BRICS cooperation toward building a shared future for mankind.

Below are the key findings of the survey:

1. Global civilization, development and security emerge as key concerns worldwide.

Respondents identified six major issues in global governance that require immediate attention, emphasizing global civilization, development and security. The highest percentages were observed for “respecting the diversity of world civilizations” (94.8%), “promoting economic recovery and development” (94.7%) and “promoting world peace and development” (94.7%). In BRICS countries, “respecting the diversity of world civilizations” and “promoting economic recovery and development” both scored 95%.

2. The Global Development Initiative (GDI) leads international development efforts.

The GDI, proposed by China, has emerged as a significant guide for global development cooperation. Among the 30 surveyed countries, each of the GDI’s core philosophies received an approval rating above 93.6%. “Pursuing innovation-driven development” scored highest at 94.9%, with respondents believing China has provided conceptual guidance and practical solutions for global development. In BRICS countries, “prioritizing development” and “pursuing practical actions” both rated highest at 94.8%, as respondents viewed solidarity and action as key to addressing global development challenges.

3. The Global Security Initiative (GSI) strengthens international security cooperation.

The GSI, committed to maintaining world peace and stability, saw each of its principles score above 94% approval across the 30 surveyed countries. “Respecting the sovereignty and territorial integrity of all countries” received the highest rating at 95.1%. This principle was most approved by BRICS respondents (95.2%) and global youth aged 18-35 (96.1%). Other developing countries rated “paying attention to the legitimate security concerns of all countries” as the highest at 95.7%.

4. The Global Civilization Initiative (GCI) enhances cross-cultural exchanges and learning.

Respondents thought the GCI embodies China’s idea of civilization. They felt it helps countries overcome differences and learn from each other. Each of the GCI’s main components scored an approval rating above 95%, with the highest ratings on “attaching importance to civilization preservation and innovation” and “respecting the diversity of world civilizations.” In addition to approving “attaching importance to civilization preservation and innovation,” BRICS respondents were most supportive of “strengthening international people-to-people exchanges and cooperation,” with an approval rating of 95.3%. Globally, young people aged 18-35 were most in favor of “respecting the diversity of world civilizations,” with a high approval rating of 96.2%.

5. BRICS countries’ governance capacity receives widespread approval.

Respondents from 30 countries approved of the governance capacity of BRICS countries. An average approval rating of 94.7% demonstrates that they believe BRICS countries have good governance capabilities and lay a solid foundation for global development. Approval ratings provided by BRICS respondents and other developing countries were 94.9% and 95.4%, respectively, higher than those of developed countries. The approval rating provided by global young people aged 18-35 (95.8%) was higher than that of other age groups, indicating that the younger generation has greater trust in the governance capacity of BRICS countries.

6. The expansion of BRICS boosts global economic momentum.

After the expansion of BRICS, the share of BRICS countries in the global economy rose to about 36% of world GDP in purchasing power parity terms. Respondents mostly spoke highly of the contribution that BRICS countries made to the world economy and provided an average approval rating of 94.5%, believing that the BRICS mechanism will provide stronger momentum for global economic development. BRICS respondents and global young people aged 18-35 provided the highest ratings, both above 95%.

7. BRICS countries contribute significantly to global development and governance.

Respondents from all 30 countries believed that the BRICS mechanism had made important contributions to promoting global governance, maintaining world peace and stability, improving climate governance, and promoting mutual learning among civilizations, with approval ratings of above 94% in these four fields. BRICS respondents felt this more deeply, with an average approval rating of above 95%.

8. The international community lauds BRICS countries’ growing influence.

With the expansion, the BRICS mechanism is entering an era of “big BRICS cooperation.” Respondents from 30 countries highly praised the international influence of BRICS countries, providing an average approval rating of 94.6%. They believed BRICS countries would achieve greater success on the international stage. Respondents from other developing countries and global young people aged 18-35 felt this more strongly, providing an average rating of more than 95%.

9. Developing countries are eager to join the expanded BRICS group.

The recent BRICS expansion has fostered new solidarity and cooperation among developing countries, attracting more nations eager to join. Respondents from 14 developing countries expressed strong interest in joining BRICS, with an average approval rating of 96.4%. They believed an expanded BRICS would promote a fairer global governance system and amplify the Global South’s voice in international affairs. Pakistan, Kazakhstan, and Serbia showed particularly high approval ratings, each exceeding 97%.

10. The world expects BRICS countries to step up their actions in developing economies and trade, promoting equity and maintaining peace.

Respondents from 30 countries expressed high expectations for BRICS countries in several key areas. They anticipated strong performance in “promoting economic and trade cooperation” (94.8%), “representing the rights and interests of emerging economies and developing countries” (94.6%), and “strengthening political and security cooperation” (94.4%). They believed BRICS nations would collaborate to advance global development and governance. Respondents from BRICS countries and developed nations gave the highest ratings to “promoting economic and trade cooperation,” with approval ratings of 95.5% and 93.8%, respectively. Respondents from other developing countries showed the most interest in seeing BRICS countries excel in “representing the rights and interests of emerging economies and developing countries” (95.3%).

This is the third consecutive year that the Academy of Contemporary China and World Studies and Beijing Dataway Horizon Co., Ltd. have conducted a public opinion survey on global development and BRICS cooperation. The online survey collected data from Beijing Dataway Horizon Co., Ltd. and the European Society for Opinion and Marketing Research’s global resources, following international standards for online surveys.

Survey questionnaires were distributed among 30 countries on five continents: Asia (China, India, Indonesia, UAE, Iran, Thailand, Malaysia, Kazakhstan, Pakistan, Singapore), Europe (Britain, France, Germany, Russia, Greece, Hungary, Serbia), the Americas (U.S., Mexico, Cuba, Brazil, Argentina, Chile, Peru), Africa (Egypt, South Africa, Nigeria, Kenya, Ethiopia) and Oceania (New Zealand).

Respondents were 18 or older and had at least a college degree. The survey collected 12,316 valid questionnaires, with each country submitting an average of more than 400.

Global survey reveals strong support for BRICS cooperation, expansion
http://en.chinadiplomacy.org.cn/2024-10/22/content_117499263.shtml 

 

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SOURCE chinadiplomacy.org.cn

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