Global wind energy cables market to grow at a CAGR of 7.04% during the period 2017-2021: Research and Markets

Research and Markets has released a new report, “Global Wind Energy Cables Market 2017-2021.”  According to its findings, the global wind energy cables market is forecast to grow at a CAGR of 7.04% during the period 2017-2021.

The new report 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. It also includes a discussion of the key vendors operating in this market.

The author of the report recognizes the following companies as the key players in the global wind energy cables market: General Cable Technologies, Nexans, NKT Group, Prysmian Group, and Sumitomo Electric Industries.

Other Prominent Vendors in the market are: Belden, Encore Wire, Finolex Cables, Hangzhou Cable, HENGTONG GROUP, International Wire Group, JDR Cables Systems, KEI Industries, LS CABLE & SYSTEM, Southwire Company, and TPC Wire and Cable.

Commenting on the report, an analyst from the research team said: “One trend in the market is growing need for clean energy. The need for clean energy is on the rise due to increasing demand for energy owing to continuous population growth across the world. Population growth has led to higher emissions of carbon dioxide and GHGs into the environment due to the burning of fossil fuels and other industrial activities.

According to the report, one driver in the market is growing demand for power. Global population is growing exponentially and is expected to grow more in the future. This will lead to an increase in the demand for power. The growing need for power can be met with the help of renewables, owing to growing concerns about environmental pollution from fossil fuels.

As a result, most countries are shifting their focus to renewable power generation, thereby driving wind power generation. The global wind power market is growing significantly and expanding in all geographic regions. It is expected that by 2020, wind power will contribute significantly to global electricity generation.