As per the reports, the electricity consumption at present around the global population is slightly low due to the pandemic but it didn’t reduce the demand after the lockdown relaxations. But the electric cables manufacturing industry had a growth forecast of the markers with a growth of 15.61 percent during 2016-2020.
It is increased more than the expected rate of growth. By the end of 2023-2024, the market value would be 1100 billion dollars USD. To meet these demands the electric cables industry is also doing their best to meet the supply for the electricity transmission.
Almost every household equipment & industry machine, everything is dependent on electricity. For conducting that electricity, we need a medium, that medium is electrical cables. With electricity, multi-billion dollars industry is running, which is the backbone to all the industries.