According to a new report published by Market Research Future, the North American region is expected to hold the largest market share in the Optical Ground Wire (OPGW) cable market by the year 2023. The report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and opportunities.
The OPGW cable is a type of optical fiber cable that is used in the telecommunication and power transmission sectors. It is primarily used to provide communication and power transmission between two or more locations. The cable has a central aluminum or steel wire that provides strength and support, while the optical fibers are placed in a layer around the central wire.
The North American region has been experiencing rapid growth in the telecommunication and power transmission sectors, which has led to an increase in demand for OPGW cables. The region is home to some of the largest telecommunications and power transmission companies in the world, such as AT&T, Verizon, Duke Energy, and Exelon Corporation. These companies have been investing heavily in infrastructure development, which has boosted the demand for OPGW cables.
The report also highlights the increasing demand for renewable energy sources, which has led to a significant increase in the installation of solar panels and wind turbines in the region. OPGW cables are used to provide communication and power transmission between these renewable energy sources and the grid, which has further fueled the demand for these cables.
The report predicts that the North American region will hold the largest market share in the OPGW cable market by the year 2023, followed by the Asia Pacific region. The report also highlights the key players operating in the market, such as Prysmian Group, Fujikura Ltd., ZTT Group, and Sterlite Technologies Ltd.
In conclusion, the North American region is poised to dominate the OPGW cable market in the coming years, driven by the region's robust telecommunication and power transmission infrastructure, as well as the increasing adoption of renewable energy sources.