Cable Accessories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cable Accessories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cable accessories market size reached US$ 53.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 78.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Cable accessories are designed for connecting cables and insulating conductors from direct contact with the earth. They help in strengthening cables, enhancing their durability and protecting them from degradation as well as erosion caused by ultraviolet (UV) light, environmental stress and other mediums. This aids in providing a reliable service for longer operating life in underground and overhead installations. Owing to these benefits, cable accessories are widely utilized in establishing the transmission and distribution (T&D) networks for electricity, telephone and internet systems.

Owing to industrialization, rapid urbanization, rising global population and increasing utilization of consumer electronics, there is a significant rise in the consumption of power across the globe. This, along with the rising adoption rates of smart grid technology in various countries, is impelling the global cable accessories market growth. Apart from this, governments in numerous countries are focusing on upgrading the existing grid infrastructure by utilizing new transmission lines. They are also setting up several unconventional energy power plants on account of growing environmental consciousness. Furthermore, some of the leading manufacturers in the industry are significantly investing in research and development (R&D) activities to improve the quality of cable accessories and ensure longer service life.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cable accessories market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on end user, voltage and installation.

Breakup by End User:

Industrial
Renewables

Breakup by Voltage:

Low Voltage
Medium Voltage
High Voltage

Low voltage cable accessories currently exhibit a clear dominance in the market.

Breakup by Installation:

Overhead
Underground

At present, overhead cable accessories account for majority of the total global market.

Regional Insights:

Asia Pacific
Europe
North America
Latin America
Middle East and Africa

Asia Pacific currently represents the largest market, on account of rapid urbanization and industrialization, along with the government initiatives undertaken in various countries.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:

Nexans SA
The Prysmian Group
ABB Group
NKT A/S
Taihan Electric Wire Company Ltd.

Key Questions Answered in This Report
1. What was the size of the global cable accessories market in 2022?
2. What is the expected growth rate of the global cable accessories market during 2023-2028?
3. What are the key factors driving the global cable accessories market?
4. What has been the impact of COVID-19 on the global cable accessories market?
5. What is the breakup of the global cable accessories market based on the voltage?
6. What is the breakup of the global cable accessories market based on the installation?
7. What are the major regions in the global cable accessories market?
8. Who are the key players/companies in the global cable accessories market?