Latin American Low Voltage Cables Market Is Expected To Reach USD 6,418.8 Million in 2018: Transparency Market Research
According to a new market report published by Transparency Market Research "Low Voltage Cables Market - Latin America Industry Size, Share, Trends, Analysis and Forecast, 2011 - 2018", low voltage cables market in Latin America was worth USD 3,604.9 million in 2011 and is expected to reach USD 6,418.8 million in 2018, growing at a CAGR of 8.5% from 2011 to 2018. This study has covered and analyzed seven countries including Brazil, Argentina, Costa Rica, Cuba, Dominican Republic, Panama and Jamaica. Brazil is expected to maintain its lead position in terms of revenue till 2018.
Day by day growing impetus on industrialization, several development projects announced by emerging countries in Latin America, and growing use of automation owing to increased purchasing power are major growth drivers of the low voltage cables market.
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The entire low voltage market for the purpose of analysis is classified as per the usage of the low voltage cables namely, in buildings, forpower distribution and specialty purposes. With the increasing emphasis towards purchasing houses and increased urbanization, the highest growth is observed in the buildings segment.
The key growth driver in the seven countries is the recent developmental reforms undertaken by the respective governments and the wave of development currently prevalent in these nations. Costa Rica is witnessing rapid industrialization and can be viewed as potential marketplace for export of low voltage power cables. The current growth rate of the Costa Rica low voltage power cables market is 6.7%. However the highest growth will be experienced in Panama at a CAGR of 17.1% from 2011 to 2018
The major holdback in this sector is the compliance issues. The companies exporting to multiple nations have to follow strict regulations and testing methodologies of the respective nations. The other major restraint of the cables market is the increasing prices of aluminum and copper which are the prime raw materials for the cables industry. The prices of aluminum and copper in the commodity market greatly influence the cables market.
This research is specially designed to estimate and analyze the demand and performance of low voltage cables in Latin America. This research provides in-depth analysis of low voltage cables product manufacturers and distributors, product sales, trend analysis by segments and country wise demand. The study presents a comprehensive assessment of the stakeholder strategies and winning imperatives for them by segmenting the Latin America low voltage cables market as below:
- Power distribution
- Specialty purposes
In addition the report provides a cross-sectional analysis of all the above segments with respect to following national markets:
- Costa Rica
- Dominican Republic
- Rest of the Latin America
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