The global market for OPGW (Optical Ground Wire) optical cables is set to experience significant growth in the coming years. According to a new report by Market Research Future, the market is expected to grow at a CAGR of 7.5% during the forecast period from 2023 to 2028.
OPGW optical cables are widely used in the power transmission and distribution sector to provide high-speed communication and data transfer capabilities. They are designed to function as both a ground wire and a fiber optic cable, allowing for efficient communication and monitoring of power transmission networks.
The increasing demand for electricity worldwide, coupled with the need for reliable communication infrastructure in power transmission networks, is driving the growth of the OPGW optical cable market. The report highlights that the Asia Pacific region is expected to be the largest market for OPGW optical cables, driven by the growing demand for electricity in countries like China and India.
The report also notes that the demand for OPGW optical cables is expected to increase in the offshore wind power sector, where they are used to provide communication and monitoring capabilities for offshore wind farms. With the global shift towards renewable energy sources, the demand for OPGW optical cables in the wind power sector is expected to grow significantly in the coming years.
Overall, the report suggests that the OPGW optical cable market is set to experience strong growth in the coming years, driven by the increasing demand for reliable communication infrastructure in power transmission networks and the growing adoption of renewable energy sources.