The growth of the Power Generation industry is one of the major drivers in the market. The demand for power cables is expected to increase over the next few years due to the construction of new electricity networks for the transmission and distribution of power from various sources.
The Power Cables market growing at a sharp pace in China is currently. Moreover, a number of mergers and acquisitions and other strategic alliances are taking place in the market, with many large players and emerging vendors considering this lucrative strategy to acquire a larger share in the market. For instance, Italian high-technology cable manufacturer Prysmian SpA acquired Dutch cable manufacturer Draka Holding in 2011. This approach also enhances the vendors' distribution channels and improves their market reach. Thus, mergers and acquisitions will help the companies in this market remain competitive while consolidating their position at the same time.
Further, the report states that the increasing cost of raw materials is one of the major challenges in this market. The price of copper, one of the major raw materials used in cable manufacturing, has been unstable for the past decade. This in turn has had a negative impact on the power cable vendors.
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