Global Solar Cables Market Size, Share & Industry Trends Analysis Report By Type (Stranded, and Solid), By End-Use (Commercial, Residential, and Industrial), By Material Type (Copper, Aluminum, Others), By Regional Outlook and Forecast, 2023 - 2030

Global Solar Cables Market Size, Share & Industry Trends Analysis Report By Type (Stranded, and Solid), By End-Use (Commercial, Residential, and Industrial), By Material Type (Copper, Aluminum, Others), By Regional Outlook and Forecast, 2023 - 2030


The Global Solar Cables Market size is expected to reach $2.1 billion by 2030, rising at a market growth of 11.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 147.5 million Units (Per 10 Feet) experiencing a growth of 11.3% (2019-2022).

Commercial buildings, factories, and warehouses are installing solar panels to cut operational costs and demonstrate corporate social responsibility by utilizing clean energy sources. Therefore, Commercial segment generated $418.9 million revenue in the market in 2022. Solar power offers individuals and businesses energy independence by generating electricity on-site. This resilience becomes particularly attractive during power outages or disruptions in traditional energy supplies, driving the installation of solar panels, which converts into the rising demand for solar cables. Therefore, the rising demand for solar energy and increasing installations of solar panels are increasing the demand in the market. Some of the factors impacting the market are increasing environmental awareness and sustainability, government incentives and policies and high cost and fluctuation in the prices of raw materials.

As environmental and climate change concerns become more widely known, governments, companies, and people are motivated to adopt more sustainable and environmentally friendly solar power and other forms of renewable energy. This trend fuels the demand for solar cables as a part of the renewable energy infrastructure. An increasing recognition of the imperative to mitigate carbon footprints and environmental concerns has precipitated a substantial transition towards renewable energy sources, such as solar power. Additionally, according to the International Trade Administration (ITA), ACWA Power is central to Saudi Arabia's Vision 2030 initiative to eradicate oil from its power generation framework. Saudi Arabia intends to generate fifty percent of its electricity from renewable sources and fifty percent from gas by 2030. Under this framework, ACWA Power's inaugural undertaking will be a solar facility in Sudair, north of Riyadh. At 1,500 megawatts of installed capacity, it will surpass all single-contracted solar PV plants globally. Thus, increasing environmental awareness is swiftly increasing the demand for solar cables in the market and consequently, such governmental initiatives support expanding the market.

However, Cost fluctuations for raw materials can have a substantial effect on the expenses associated with the production of solar cables. Several vital raw materials used in the manufacturing of solar cables are subject to price fluctuations, affecting the overall cost of production. Frequent changes in the supply and demand for raw materials used in solar cables can lead to price fluctuations. Variations in global production levels, unexpected supply chain disruptions (e.g., natural disasters, geopolitical tensions), or increased demand due to industry growth can impact prices. Consequently, raw material prices' high cost and extreme volatility hinder the market demand for solar cables.

Type Outlook

On the basis of type, the market is segmented into solid and stranded. The stranded segment recorded the largest revenue share in the market in 2022. Stranded construction enhances flexibility, making the cable more pliable and resistant to bending stress. Stranded conductors exhibit greater flexibility and reduced susceptibility to fracture in solar installations, which may require cables to traverse confined areas, circumvent corners, or traverse structures. The flexibility of stranded conductors is driving the growth of the segment.

End-Use Outlook

Based on end-use, the market is divided into residential, commercial, and industrial. The residential segment witnessed a considerable revenue share in the solar cable market in 2022. Homeowners can generate electricity by installing solar panels, thereby decreasing their reliance on the power grid and electricity costs. By developing their electricity, homeowners become less reliant on the traditional energy grid, providing a degree of energy independence and security, especially during power outages. Therefore, the increasing use of solar panels in residential areas is growing the demand in the segment.

Material Type Outlook

Based on material type, the market is divided into copper, aluminum, and others. In 2022, the copper segment garnered the highest revenue share in the market. Copper is a highly conductive metal, allowing electricity to flow with minimal resistance. This property is crucial for solar cables as it helps minimize power losses during the transmission of electricity generated by solar panels. Therefore, copper's high-quality conduction property is propelling the segment's growth.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated a substantial revenue share in the market. Various federal, state, and local government initiatives in the United States and Canada promote renewable energy adoption, including solar power. Tax incentives, rebates, grants, and renewable energy mandates encourage investments in solar installations, thereby boosting the demand for solar cables.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Leoni AG, Nexans S.A., Prysmian Group, Belden, Inc., KEI Industries Limited, Havells India Ltd., Amphenol Corporation (Amphenol Industrial Products Group), Jainflex Cables Pvt. Ltd., HELUKABEL GmbH, and Top Cable S.A.

Strategies Deployed in Solar Cables Market

Jul-2023: Nexans S.A. expanded its business in the offshore wind and interconnection market, by adding a third cable laying vessel to its fleet. This expansion aimed to achieve the increasing demand for electrification, especially in the American and European markets.

Apr-2023: Nexans S.A. acquired Reka Cables, a premium high, medium, and low voltage cables manufacturer in Finland. This acquisition aimed to make Nexans’a pure electrification player committed to contribute to carbon neutrality by 2030, focusing on the overall value chain.

Apr-2022: Nexans S.A. took over Centelsa, a premium cable manufacturer in Latin America specializing in building and utility applications. Through this acquisition, Nexans would become a Pure Electrification Player aiming on the overall value chain originating in generation, and flowing through transmission, distribution, and usage of sustainable energy.

Mar-2021: HELUKABEL GmbH launched Helukabel THERMFLEX 145 Series Cables, connection cable for thermal class B (130°C) electrical equipment like motors, transformers, relays, coils etc. The launched product would be utilized as a generator connection cable in wind power plants and wherever a high current carrying capacity is required and a decreased outer diameter is beneficial due to limited installation space.

Nov-2019: Nexans extended its partnership with Vestas, the industry's global partner on sustainable energy solutions. Under this expansion, Windlink medium voltage (MV) and low voltage (LV) cable kits were implemented inside Vestas onshore wind turbines in Europe, the US, and China.

Oct-2019: Belden extended its 10-year partnership agreement with Omni Cable Corporation, a PA-based distributor of wire and cable, electrical products, and value-added services. Under this expansion, the companies are working together to share their values. Earlier, Belden has positively impacted Omni's growth and product offering and Omni Cable offered a reliable, consistent source of Belden products to customers.

May-2019: LEONI expanded its geographical footprints with the inauguration of its building at its facility in Kitchener, Canada. The expansion aimed to support the manufacturing of specialty cable and interconnect systems for non-automotive industries and the release of new intONE product line.

Scope of the Study

Market Segments covered in the Report:

By Type (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
  • Stranded
  • Solid
By End-Use (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
  • Commercial
  • Residential
  • Industrial
By Material Type (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
  • Copper
  • Aluminum
  • Others
By Geography (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Taiwan
  • Australia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Leoni AG
  • Nexans S.A.
  • Prysmian Group
  • Belden, Inc.
  • KEI Industries Limited
  • Havells India Ltd.
  • Amphenol Corporation (Amphenol Industrial Products Group)
  • Jainflex Cables Pvt. Ltd.
  • HELUKABEL GmbH
  • Top Cable S.A
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Solar Cables Market, by Type
1.4.2 Global Solar Cables Market, by End-Use
1.4.3 Global Solar Cables Market, by Material Type
1.4.4 Global Solar Cables Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Force Analysis
Chapter 4. Strategies Deployed in Solar Cables Market
Chapter 5. Global Solar Cables Market by Type
5.1 Global Stranded Market by Region
5.2 Global Solid Market by Region
Chapter 6. Global Solar Cables Market by End-Use
6.1 Global Commercial Market by Region
6.2 Global Residential Market by Region
6.3 Global Industrial Market by Region
Chapter 7. Global Solar Cables Market by Material Type
7.1 Global Copper Market by Region
7.2 Global Aluminum Market by Region
7.3 Global Others Market by Region
Chapter 8. Global Solar Cables Market by Region
8.1 North America Solar Cables Market
8.1.1 North America Solar Cables Market by Type
8.1.1.1 North America Stranded Market by Country
8.1.1.2 North America Solid Market by Country
8.1.2 North America Solar Cables Market by End-Use
8.1.2.1 North America Commercial Market by Country
8.1.2.2 North America Residential Market by Country
8.1.2.3 North America Industrial Market by Country
8.1.3 North America Solar Cables Market by Material Type
8.1.3.1 North America Copper Market by Country
8.1.3.2 North America Aluminum Market by Country
8.1.3.3 North America Others Market by Country
8.1.4 North America Solar Cables Market by Country
8.1.4.1 US Solar Cables Market
8.1.4.1.1 US Solar Cables Market by Type
8.1.4.1.2 US Solar Cables Market by End-Use
8.1.4.1.3 US Solar Cables Market by Material Type
8.1.4.2 Canada Solar Cables Market
8.1.4.2.1 Canada Solar Cables Market by Type
8.1.4.2.2 Canada Solar Cables Market by End-Use
8.1.4.2.3 Canada Solar Cables Market by Material Type
8.1.4.3 Mexico Solar Cables Market
8.1.4.3.1 Mexico Solar Cables Market by Type
8.1.4.3.2 Mexico Solar Cables Market by End-Use
8.1.4.3.3 Mexico Solar Cables Market by Material Type
8.1.4.4 Rest of North America Solar Cables Market
8.1.4.4.1 Rest of North America Solar Cables Market by Type
8.1.4.4.2 Rest of North America Solar Cables Market by End-Use
8.1.4.4.3 Rest of North America Solar Cables Market by Material Type
8.2 Europe Solar Cables Market
8.2.1 Europe Solar Cables Market by Type
8.2.1.1 Europe Stranded Market by Country
8.2.1.2 Europe Solid Market by Country
8.2.2 Europe Solar Cables Market by End-Use
8.2.2.1 Europe Commercial Market by Country
8.2.2.2 Europe Residential Market by Country
8.2.2.3 Europe Industrial Market by Country
8.2.3 Europe Solar Cables Market by Material Type
8.2.3.1 Europe Copper Market by Country
8.2.3.2 Europe Aluminum Market by Country
8.2.3.3 Europe Others Market by Country
8.2.4 Europe Solar Cables Market by Country
8.2.4.1 Germany Solar Cables Market
8.2.4.1.1 Germany Solar Cables Market by Type
8.2.4.1.2 Germany Solar Cables Market by End-Use
8.2.4.1.3 Germany Solar Cables Market by Material Type
8.2.4.2 UK Solar Cables Market
8.2.4.2.1 UK Solar Cables Market by Type
8.2.4.2.2 UK Solar Cables Market by End-Use
8.2.4.2.3 UK Solar Cables Market by Material Type
8.2.4.3 France Solar Cables Market
8.2.4.3.1 France Solar Cables Market by Type
8.2.4.3.2 France Solar Cables Market by End-Use
8.2.4.3.3 France Solar Cables Market by Material Type
8.2.4.4 Russia Solar Cables Market
8.2.4.4.1 Russia Solar Cables Market by Type
8.2.4.4.2 Russia Solar Cables Market by End-Use
8.2.4.4.3 Russia Solar Cables Market by Material Type
8.2.4.5 Spain Solar Cables Market
8.2.4.5.1 Spain Solar Cables Market by Type
8.2.4.5.2 Spain Solar Cables Market by End-Use
8.2.4.5.3 Spain Solar Cables Market by Material Type
8.2.4.6 Netherlands Solar Cables Market
8.2.4.6.1 Netherlands Solar Cables Market by Type
8.2.4.6.2 Netherlands Solar Cables Market by End-Use
8.2.4.6.3 Netherlands Solar Cables Market by Material Type
8.2.4.7 Rest of Europe Solar Cables Market
8.2.4.7.1 Rest of Europe Solar Cables Market by Type
8.2.4.7.2 Rest of Europe Solar Cables Market by End-Use
8.2.4.7.3 Rest of Europe Solar Cables Market by Material Type
8.3 Asia Pacific Solar Cables Market
8.3.1 Asia Pacific Solar Cables Market by Type
8.3.1.1 Asia Pacific Stranded Market by Country
8.3.1.2 Asia Pacific Solid Market by Country
8.3.2 Asia Pacific Solar Cables Market by End-Use
8.3.2.1 Asia Pacific Commercial Market by Country
8.3.2.2 Asia Pacific Residential Market by Country
8.3.2.3 Asia Pacific Industrial Market by Country
8.3.3 Asia Pacific Solar Cables Market by Material Type
8.3.3.1 Asia Pacific Copper Market by Country
8.3.3.2 Asia Pacific Aluminum Market by Country
8.3.3.3 Asia Pacific Others Market by Country
8.3.4 Asia Pacific Solar Cables Market by Country
8.3.4.1 China Solar Cables Market
8.3.4.1.1 China Solar Cables Market by Type
8.3.4.1.2 China Solar Cables Market by End-Use
8.3.4.1.3 China Solar Cables Market by Material Type
8.3.4.2 Japan Solar Cables Market
8.3.4.2.1 Japan Solar Cables Market by Type
8.3.4.2.2 Japan Solar Cables Market by End-Use
8.3.4.2.3 Japan Solar Cables Market by Material Type
8.3.4.3 India Solar Cables Market
8.3.4.3.1 India Solar Cables Market by Type
8.3.4.3.2 India Solar Cables Market by End-Use
8.3.4.3.3 India Solar Cables Market by Material Type
8.3.4.4 South Korea Solar Cables Market
8.3.4.4.1 South Korea Solar Cables Market by Type
8.3.4.4.2 South Korea Solar Cables Market by End-Use
8.3.4.4.3 South Korea Solar Cables Market by Material Type
8.3.4.5 Taiwan Solar Cables Market
8.3.4.5.1 Taiwan Solar Cables Market by Type
8.3.4.5.2 Taiwan Solar Cables Market by End-Use
8.3.4.5.3 Taiwan Solar Cables Market by Material Type
8.3.4.6 Australia Solar Cables Market
8.3.4.6.1 Australia Solar Cables Market by Type
8.3.4.6.2 Australia Solar Cables Market by End-Use
8.3.4.6.3 Australia Solar Cables Market by Material Type
8.3.4.7 Rest of Asia Pacific Solar Cables Market
8.3.4.7.1 Rest of Asia Pacific Solar Cables Market by Type
8.3.4.7.2 Rest of Asia Pacific Solar Cables Market by End-Use
8.3.4.7.3 Rest of Asia Pacific Solar Cables Market by Material Type
8.4 LAMEA Solar Cables Market
8.4.1 LAMEA Solar Cables Market by Type
8.4.1.1 LAMEA Stranded Market by Country
8.4.1.2 LAMEA Solid Market by Country
8.4.2 LAMEA Solar Cables Market by End-Use
8.4.2.1 LAMEA Commercial Market by Country
8.4.2.2 LAMEA Residential Market by Country
8.4.2.3 LAMEA Industrial Market by Country
8.4.3 LAMEA Solar Cables Market by Material Type
8.4.3.1 LAMEA Copper Market by Country
8.4.3.2 LAMEA Aluminum Market by Country
8.4.3.3 LAMEA Others Market by Country
8.4.4 LAMEA Solar Cables Market by Country
8.4.4.1 Brazil Solar Cables Market
8.4.4.1.1 Brazil Solar Cables Market by Type
8.4.4.1.2 Brazil Solar Cables Market by End-Use
8.4.4.1.3 Brazil Solar Cables Market by Material Type
8.4.4.2 Argentina Solar Cables Market
8.4.4.2.1 Argentina Solar Cables Market by Type
8.4.4.2.2 Argentina Solar Cables Market by End-Use
8.4.4.2.3 Argentina Solar Cables Market by Material Type
8.4.4.3 UAE Solar Cables Market
8.4.4.3.1 UAE Solar Cables Market by Type
8.4.4.3.2 UAE Solar Cables Market by End-Use
8.4.4.3.3 UAE Solar Cables Market by Material Type
8.4.4.4 Saudi Arabia Solar Cables Market
8.4.4.4.1 Saudi Arabia Solar Cables Market by Type
8.4.4.4.2 Saudi Arabia Solar Cables Market by End-Use
8.4.4.4.3 Saudi Arabia Solar Cables Market by Material Type
8.4.4.5 South Africa Solar Cables Market
8.4.4.5.1 South Africa Solar Cables Market by Type
8.4.4.5.2 South Africa Solar Cables Market by End-Use
8.4.4.5.3 South Africa Solar Cables Market by Material Type
8.4.4.6 Nigeria Solar Cables Market
8.4.4.6.1 Nigeria Solar Cables Market by Type
8.4.4.6.2 Nigeria Solar Cables Market by End-Use
8.4.4.6.3 Nigeria Solar Cables Market by Material Type
8.4.4.7 Rest of LAMEA Solar Cables Market
8.4.4.7.1 Rest of LAMEA Solar Cables Market by Type
8.4.4.7.2 Rest of LAMEA Solar Cables Market by End-Use
8.4.4.7.3 Rest of LAMEA Solar Cables Market by Material Type
Chapter 9. Company Profiles
9.1 Leoni AG
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Geographical Expansions:
9.1.6 SWOT Analysis
9.2 Nexans S.A.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Acquisition and Mergers:
9.2.5.3 Expansions:
9.2.6 SWOT Analysis
9.3 Prysmian Group
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 SWOT Analysis
9.4 Belden, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.6 SWOT Analysis
9.5 KEI Industries Limited
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 SWOT Analysis
9.6 Havells India Ltd.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental Analysis
9.6.4 SWOT Analysis
9.7 Amphenol Corporation (Amphenol Industrial Products Group)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expenses
9.7.5 SWOT Analysis
9.8 Jainflex Cables Pvt. Ltd.
9.8.1 Company Overview
9.8.2 SWOT Analysis
9.9 HELUKABEL GmbH
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Product Launches and Product Expansions:
9.9.3 SWOT Analysis
9.10. Top Cable S.A
9.10.1 Company Overview
9.10.2 SWOT Analysis
Chapter 10. Winning imperative of Solar Cables Market

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