According to a new report published by Market Research Future, the ADSS cable market is expected to see significant growth in the Asia-Pacific region in the coming years. The report indicates that the market is expected to grow at a CAGR of around 7.5% from 2021 to 2028.
ADSS (All-Dielectric Self-Supporting) cables are used for power transmission and distribution in the electricity sector. They are known for their durability, high performance, and ability to withstand harsh weather conditions. The growing demand for renewable energy sources such as solar and wind power has led to an increased need for efficient power transmission and distribution systems, which in turn is driving the growth of the ADSS cable market.
The report highlights that the Asia-Pacific region is expected to witness significant growth in the ADSS cable market due to the increasing demand for power infrastructure in emerging economies such as China, India, and Indonesia. These countries are investing heavily in their power transmission and distribution systems to meet the growing demand for electricity, which is expected to boost the demand for ADSS cables in the region.
Moreover, the report also states that the increasing investments in smart grid technology in the Asia-Pacific region are also expected to drive the growth of the ADSS cable market. The smart grid technology requires advanced power transmission and distribution systems, and ADSS cables are well-suited for such applications.
The report also identifies key players in the ADSS cable market, including Fujikura Ltd., AFL Global, Sterlite Power Transmission Limited, Nexans S.A., ZTT International Limited, Prysmian Group, and LS Cable & System Ltd. These companies are investing heavily in R&D to develop new and innovative ADSS cable solutions to meet the growing demand in the Asia-Pacific region.
In conclusion, the ADSS cable market is expected to see significant growth in the Asia-Pacific region in the coming years, driven by the increasing demand for efficient power transmission and distribution systems, investments in smart grid technology, and the growing demand for renewable energy sources.