current position:
Home >
MEDIA CENTRE
Media Centre
The Philippines Wires and Cables Market is Projected to Grow at a CAGR of 6.4% During 2021
* source: CEG team *
The Philippines wires and cables market is expected to grow at a healthy rate on the back of rapidly growing investment by the government towards the development of infrastructural projects such as Manila Second Airport, Manila Metro Skyway, Mariveles Coal-Fired Power Plant, and Cadiz Solar Power Project. The development of smart cities in the country along with the increase in electronic devices in the household would increase the demand for wires and cables in the Philippines market. Moreover, rising government investment to meet the 100% electrification would result in a surge in market demand for wires and cables in the country.The Philippines Wires and Cables Market is Projected to Grow at a CAGR of 6.4% During 2021-27
High demand for high voltage cables from end-users such as telecom, power distribution, and aerospace & defense is expected to be the major factor responsible for the growth of wires and cables over the forecast period. Furthermore, trends in the market such as Polymer optic fiber product being widely used in the automotive, electronics, and other industries apart from the telecommunications industry is also bound to increase the wires and cables market of the Philippines during the forecast period.
The Philippines wires and cables market report thoroughly covers the market by voltages, installation, products, and end-users. The Philippines wires and cables market report provides an unbiased and detailed analysis of the ongoing Philippines wires and cables market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
The Philippines wires and cables market is projected to secure tremendous growth throughout the forecast period owing to an increase in the growth of the real estate sector. According to the government, BBB programs are estimated to increased expansion of the residential and commercial infrastructure development with the growing population base and tourist visit and is estimated to pose opportunities for the foreign investors to invest potentially. All this growth and expansion of the real estate industry in the coming years is likely to increase the demand for wires and cables and this resulted in the tremendous growth of the Philippines wires and cables market in the years ahead.
