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PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1032850

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PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1032850

Power and Control Cable Market - Forecasts from 2021 to 2026

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The power and control cable market is projected to witness a CAGR of 8.15% during the forecast period to reach a market size of US$187.250 billion by 2026, increasing from US$108.202 billion in 2019. Power cables transfer energy from a source to equipment and control cables send signals to control the functioning of equipment. They are used for the transmission and distribution of electrical energy for normal conditions of installation and service, either indoors, outdoors, aerial, underground, or submarine. The power cables are made up of copper and aluminum while control cables are flexible wires which are used to measure and control in the field of process automation.

Market Drivers

Power cables have many industrial applications which make the wires a popular choice to be used in ships, airports, industrial areas, underground, hospitals, commercial centers, and many more. There are many types of control cables that are all unique in their way. The places where these exclusive cables are used include building, construction, and the railway industry. These vast arrays of applications help drive the market up. Additionally, increasing demand for power, rise in per capita income, higher purchasing power, investments and innovations, alternative power sources also push the market forward.

Geographically, the APAC region is expected to be a forerunner in the coming years due to the increase in demand for power as industrial production propels. The North-American region currently occupies the highest share due to its industrial advancements. By application, utilities have the highest market share as consumer goods, food, apparel, and auxiliary goods, have been developing on a large scale.

Growth Factors

Increase in power production and supply

Power and control cables are largely deployed for electricity supply, instrumentation, and automation purposes across the various application. Ongoing investments toward the enhancement and expansion of grid infrastructure to meet rising electricity demand across the globe will propel market growth over the forecast period.

Growth of renewable power sources

Renewable energy expanded by 7.6 percent in 2019, adding 176 gigawatts (GW) of generating capacity globally, marginally lower than the (revised) 179 GW added in 2018, according to UNEP. However, it accounts for only 20% of the power need, while the rest is covered by conventional sources. The shift to cleaner energy sources asks for innovation and better transmission methods. With product development and new launches, the cable market can tap these benefits eventually expanding the market.

Covid-19 Impact on the power and control cable market

The pandemic led to a sluggish global economic growth of the power sector resulting in lower demand especially by the commercial and industrial sector and disrupted supply chain. The COVID-19 pandemic has caused many dislocations to the power sector. As the power sector contracted, the market for cables also faced similar wrath. However, as the pandemic eases and mobility increases, economic activity is likely to go up. That will increase commercial and industrial demand for electricity in the coming years.

Competitive Insights

The market leaders for the Power and Control Cable Market are Belden Inc., Multi/cable Corporation, Nexans, Prysmian S.P.A., Orient Cables Pvt. Ltd., Teldor Cables & Systems Ltd., Techno Flex Cables, CMI Ltd., Havells, LS Cable India Pvt. Ltd., Furukawa Electric Co, Ltd., Southwire Company, LLC, General Cable Technologies Corporation, Sumitomo Electric Industries., and Thermo Cables Pvt. Ltd. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,

  • Belden Inc. announced in 2021 to acquire privately-held OTN Systems N.V., provider of automation networking infrastructure solutions, for approximately $71 million.
  • Prysmian Group in 2021 completed the acquisition of EHC Global, a manufacturer of strategic components and integrated solutions for the vertical transportation industry.
  • LS Cable & System on October 6, 2020, completed its second 5G communication plant in LSCI in India enabling it to double its communication component production capacity.
  • Southwire Company LLC in 2020 acquired Madison Electric Products LLC of Ohio - a manufacturer of high-quality, electrical components and accessories and Construction Electrical Products (CEP), manufacturer of temporary power distribution and portable lighting products.
  • Sumitomo Electric Industries, Ltd. had acquired in 2019 the European manufacturer of powdered metal components Sinterwerke Herne GmbH (SWH, North Rhine-Westphalia, Germany) and Sinterwerke Grenchen AG (SWG, Canton of Solothurn, Switzerland).

Market Segmentation

By Voltage

  • High Voltage
  • Medium Voltage
  • Low Voltage

By Applications

  • Utilities
  • Industrial

By Geography

  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others
Product Code: KSI061610944

TABLE OF CONTENTS

1. INTRODUCTION

  • 1.1. Market Definition
  • 1.2. Market Segmentation

2. RESEARCH METHODOLOGY

  • 2.1. Research Data
  • 2.2. Assumptions

3. EXECUTIVE SUMMARY

  • 3.1. Research Highlights

4. MARKET DYNAMICS

  • 4.1. Market Drivers
  • 4.2. Market Restraints
  • 4.3. Porter's Five Forces Analysis
    • 4.3.1. Bargaining Power of Suppliers
    • 4.3.2. Bargaining Powers of Buyers
    • 4.3.3. Threat of Substitutes
    • 4.3.4. The threat of New Entrants
    • 4.3.5. Competitive Rivalry in Industry
  • 4.4. Industry Value Chain Analysis

5. POWER AND CONTROL CABLE MARKET, VOLTAGE

  • 5.1. Introduction
  • 5.2. High Voltage
  • 5.3. Medium Voltage
  • 5.4. Low Voltage

6. POWER AND CONTROL CABLE MARKET, BY APPLICATION

  • 6.1. Introduction
  • 6.2. Utilities
  • 6.3. Industries

7. POWER AND CONTROL CABLE MARKET, BY GEOGRAPHY

  • 7.1. Introduction
  • 7.2. North America
    • 7.2.1. United States
    • 7.2.2. Canada
    • 7.2.3. Mexico
  • 7.3. South America
    • 7.3.1. Brazil
    • 7.3.2. Argentina
    • 7.3.3. Others
  • 7.4. Europe
    • 7.4.1. Germany
    • 7.4.2. France
    • 7.4.3. United Kingdom
    • 7.4.4. Spain
    • 7.4.5. Others
  • 7.5. Middle East and Africa
    • 7.5.1. Saudi Arabia
    • 7.5.2. UAE
    • 7.5.3. Israel
    • 7.5.4. Others
  • 7.6. Asia Pacific
    • 7.6.1. China
    • 7.6.2. India
    • 7.6.3. South Korea
    • 7.6.4. Taiwan
    • 7.6.5. Thailand
    • 7.6.6. Indonesia
    • 7.6.7. Japan
    • 7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

  • 8.1. Major Players and Strategy Analysis
  • 8.2. Emerging Players and Market Lucrative
  • 8.3. Mergers, Acquisition, Agreements, and Collaborations
  • 8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

  • 9.1. Belden Inc.
  • 9.2. Multi/cable Corporation
  • 9.3. Nexans
  • 9.4. Prysmian S.P.A.
  • 9.5. Orient Cables Pvt. Ltd.
  • 9.6. Teldor Cables & Systems Ltd.,
  • 9.7. Techno Flex Cables
  • 9.8. CMI Ltd.
  • 9.9. Havells
  • 9.10. LS Cable India Pvt. Ltd.
  • 9.11. Furukawa ElectricCo, Ltd.
  • 9.12. Southwire Company, LLC
  • 9.13. Sumitomo Electric Industries.
  • 9.14. Thermo Cables Pvt. Ltd.
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Jeroen Van Heghe

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Christine Sirois

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