London, 14 May 2015 – Technavio, a tech-focused research firm, has published a new report on the electric wire and cable market in India, which is expected to post a CAGR of nearly 16% from 2015-2019.
According to the latest report by Technavio, the government of India is making efforts to upgrade the electrical T&D network in response to the rising demand for electricity. This modernization is driven by the need to ensure the security of national energy reserves, the high maintenance costs of existing electrical systems and the need to increase the efficiency of power plants.
“The growing demand for upgrades will contribute to the growth of the electric wire and cable market in India during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also highlights growing awareness about environmental issues in India, which is leading many companies to focus on developing wires that have a lower negative impact on the natural environment.
“Some of the eco-friendly functionalities that major vendors incorporate into their power cables include flame retardant properties, lower emission of poisonous fumes, non-corrosiveness and halogen-free wires,” says Ghaus.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
