Energy Cable Market Share

On the basis of geographical analysis, the energy cable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to dominate majority revenue share by 2036, on the back of surge in demand for electricity and rising urban migration in countries such as India, China, Japan and South Korea. According to the Census of India, out of the total intra-state and inter-state migrations of 98 million during the last decade, 36 million Indians moved to urban areas. Additionally, growing number of government initiatives to obtain maximum energy from renewable sources is also projected to drive market growth in the region in the coming years. Moreover, the market in North America is also expected to observe noteworthy growth during the forecast period, which can be credited to the rise in data consumption and increasing investments by telecom companies to develop effective fiber networks.