PUBLISHER: Allied Market Research | PRODUCT CODE: 1225015
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225015
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.
By Distribution Type
By Voltage Rating
By End Use
By Region