Sales of Bridge Cable Sockets Market Augment with Improved Regional Growth Trend

Posted by Arslan on June 24th, 2019

As per the current market trends and the promising nature of the bridge cable sockets market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, FACT.MR would be publishing a resourceful analysis that will enclose knowledge about the regional bridge cable sockets market trends, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during 2017-2028, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.

Bridge Cable Sockets Market – Key Insights

• Intensifying construction and infrastructure development projects during the 2013-2017 were key factors which contributed significantly to the proliferation of bridge cable sockets market during the period aiding the market in registering growth at the rate of more than 4.5%.
• Increasing popularity of cable-stayed bridges and suspension bridges in addition to burgeoning demand for bridge cable sockets in rehabilitation and repair of old bridges are key vital factors expected to uphold bridge cable sockets market growth with the market registering sales of almost US$ 41 million in 2018 and poised to witness a Y-o-Y growth of more than 5% in 2019.
• Asia Pacific is expected to hold the bulk of the bridge cable sockets market share with the emergence of new economies in Vietnam, Malaysia, Indonesia, Philippines, Thailand, and Singapore coupled with the exponential growth of population in the region. The region accounted for more than 70% of the bridge cable sockets market share in 2018.
• Asia Pacific is also estimated to remain the fastest growing market for bridge cable sockets owing to variegated factors. Urbanization is expected to be one of the vital reasons fuelling bridge cable sockets market growth with the UN predicting 90% of the urbanization in the world taking place in Asia Pacific.

 What are the Factors Driving Bridge Cable Sockets Market Proliferation?

• The bridge cable sockets market is likely to be driven by the burgeoning demand for sophisticated infrastructure in developed and developing economies. Growing urbanization around the world is prompting administrations around the world to invest heavily in the construction of railroad bridges, pedestrian bridges, and highway bridges. According to the UN Department of Economic and Social Affairs, approximately 68% of the world population is expected to live in urban areas.
• Cable-stayed and suspension bridges are increasingly gaining traction as popular bridge construction designs owing to the assortment of ways they can be built in along with other benefits such as affordability, durability, and high strength. The pervasive trend is estimated to bolster bridge cable sockets market growth in the foreseeable future.

Browse Market Research Report with TOC – https://www.factmr.com/report/3268/bridge-cable-sockets-market

Bridge Cable Sockets Market – Competitive Landscape

• To strengthen the sourcing of materials and extend its network in Asia Pacific, Bridon Bekaert Ropes Group entered a strategic alliance with Bharat Wire Ropes in India. According to the contract signed between the two companies, Bharat Wire Ropes will be manufacturing a range of cables and other fittings for Birdon Bekaert while working as a distributor for their products in the Indian market.
• The burgeoning adoption of cable-stayed and suspension bridge designs around the world was evident after the Chinese government announced the construction of the commencement of the construction of a cable-stayed bridge in the Jiangsu Province. Post-construction the bridge will become the cable-stayed bridge with the longest span measuring over one kilometer.

Key players operating in the bridge cable sockets market WireCo World Group, Esco Corporation, Auzac Co. Ltd., CBSI, PWB Anchor, Ben-Mor, Muncy Industries, and Lexco Cable.

Research Methodology

The report on bridge cable sockets market is a result of the elaborate and robust research methodology employed. A two-step research process involving primary and secondary researches was used to obtain detailed and actionable insights into the bridge cable sockets market. Interviewing seasoned experts from the bridge cable sockets market formed the basis of primary research for the report compilation. Secondary research for the report was conducted by thoroughly studying trade journals, paid sources, company press releases, and other publications related to the bridge cable sockets market. The outcomes from both the steps of research were triangulated with each other to create an accurate and authentic forecast of the bridge cable sockets market.