Global Cables and Accessories Market Analysis 2022

Global Cables and Accessories Market Analysis 2022

The Global Cables and Accessories Market is expected to reach $220.70 billion by 2028 growing at a CAGR of 5.7% from 2021 to 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. Cables and accessories are a mandate in most industrial applications to ensure high productivity and avoid financial losses. This has led to the development of efficacious cable lugs.

Factors such as rise in renewable energy generation, growing government initiatives to upgrade transmission and distribution systems, and increasing adoption of smart grid technology are driving the growth of the market. However, underground market providing low-quality products and volatile prices of raw materials are restraining the growth of the market.

Based on voltage, the medium voltage segment is going to have a lucrative growth during the forecast period which can be attributed to their prolific applications in supplying temporary power and in medium voltage switchgear. The concept of medium voltage was only introduced as the level of voltages increased and the need arose for a greater classification range, which now often includes extra low and extra high voltage. Medium-voltage cables are commonly used in mobile substation equipment, for distribution of power in industrial settings and in mining to supply power to drills, shovels, haulers, etc. Perhaps the biggest difference between low- and medium-voltage cables is their construction. Most medium-voltage designs offer extra protection to prevent the build-up of potential charges anywhere along the cable.

The key vendors mentioned are ABB, Brugg Group, Dubai Cable, Elsewedy, Furukawa, General Cable, Kabelwerke, LS Cable, Nexans, NKT Cables, Prysmian, Southwire, Sumitomo, Taihan Electric Wire Company Ltd, and Tele-Fonika.

Power Ranges Covered:

• Overhead Cables & Accessories
• Submarine Cables & Accessories
• Underground Cables & Accessories

• Low Voltage
• Medium Voltage
• High Voltage

• Industrial
• Infrastructure
• Renewable

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

• How this market evolved since the year 2020
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period