According to the latest report from the US-based Grand View Research, the low-voltage cable market in Latin America is expected to reach 10.54 billion USD (about 67 billion RMB) by 2022, with a compound annual growth rate of 8%.
Over the past decade, Latin America's industrialisation has advanced rapidly, greatly boosting electricity demand in the region and driving up the demand for cables, especially in power transmission and distribution.
In terms of application markets, in 2014, construction and distribution were the two main markets for low-voltage cables, and this trend is expected to continue through 2022. The ongoing development of infrastructure is the direct reason for the increased demand for residential, office buildings, and distribution facilities.
From the national perspective, in 2014, Brazil was the largest low-voltage cable demand market in Latin America, accounting for 40% of the regional market total. Brazil's development reflects more than a decade of growth in Latin America. In addition, the boom in Brazil's automotive industry is expected to further boost demand for low-voltage cables.
From the supplier perspective, Nexans, Prysmian, General Cable, Southwire, Siemens, Remee Products, and ABB Group will be the main low-voltage cable suppliers in the Latin American region. In terms of product demand trends, robust, interference-resistant, and environmentally-friendly products will become the development trend for low-voltage cables in Latin America, further ensuring public safety.
For example, the Prysmian Group is developing new polymer sheaths to protect submarine and underground cables from external environmental impacts, while General Cable is focusing more on halogen-free cable series. This article uses the real-time exchange rate of 1 USD = 6.3559 RMB
