Power Cable Market By Distribution Type (Underground, Submarine, Overhead), By Voltage Rating (Up to 36 kV, 37 kV to 100 kV, 101 kV to 250 kV, 251 kV to 350 kV, 351 kV and Above), By End Use (Residential, Commercial, Industrial, Utilities): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global power cable market was valued at $148.6 billion in 2021, and is projected to reach $277.8 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031
A power cable is used for the transmission and distribution of electrical energy. It is an assembly of one or more electrical conductors, generally joined together with an over sheath. It may be installed as permanent wiring within buildings, run overhead, buried in the ground, or exposed. It primarily consists of three main components, such as conductor, dielectric, and sheath.
Power cable market growth is influenced by a number of important variables, including the increasing use of renewable energy sources. The expansion of new power grid infrastructure is another factor driving the demand for power cables. For instance, the rise in the number of emerging nations is causing a shortage of infrastructure for transferring electricity; as a result, the governments of these nations are focusing on building secure grid infrastructure. In addition, the industry is growing due to the increased use of smart grids. The complexity of planning the deployment of power lines and the length of time it takes for regulatory approvals are, however, expected to hinder market expansion during the forecast period. Conversely, a rise in energy demand presents the profit potential for the growth of the power cable business. The power cable market is segmented on the basis of distribution type, voltage ratings, and region. On the basis of distribution type, the market is divided into underground, submarine, and overhead. By voltage ratings, the market is segmented into up to 36 kV, 37 kV to 100 kV, 101 kV to 250 kV, 251 KV to 350 KV, and 351 kV and above. According to the end user, the market is segmented into residential, commercial, industrial, and utilities.
By region, the power cable market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is studied across into U.S., Mexico, and Canada, whereas Europe into UK, Spain, Germany, France, and the rest of Europe. The countries covered under Asia-Pacific are China, India, Japan, South Korea, and rest of Asia-Pacific while LAMEA includes Latin America, the Middle East, and Africa. The key players that operate in the market include ABB Ltd, Belden Incorporated, Encore Wire Corporation, Finolex Cables, KEI Industries Limited, LAPP North America, Nexans, NKT A/S, Prysmian Group, and TPC Wire & Cable Corp.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power cable market analysis from 2021 to 2031 to identify the prevailing power cable market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights buyers' and suppliers' potency to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the power cable market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global power cable market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution Type
Submarine
Overhead
Underground
By Voltage Rating
Up to 36 kV
37 kV to 100 kV
101 kV to 250 kV
251 kV to 350 kV
351 kV and Above
By End Use
Residential
Commercial
Industrial
Utilities
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Riyadh Cables Group Company
Prysmian Group (General Cable)
LAPP North America
Nexans S.A.
Brugg Cables
NKT A/S
FINOLEX CABLES LIMITED
Encore Wire Corporation
Polycab India Ltd
KEI Industries Ltd.
TPC Wire & Cable Corp
ABB Ltd
Belden Incorporated
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