PUBLISHER: Market Research Future | PRODUCT CODE: 1817413
PUBLISHER: Market Research Future | PRODUCT CODE: 1817413
Global Power Distribution Cables Market Research Report Information by Installation (Underground, Submarine), by Voltage [High Voltage, Ultra High Voltage (HVDC, HVAC)], by End-User (Industrial, Utility), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) Forecast till 2030
Industry Overview
The global power distribution cables market is expected to achieve a valuation of USD 32,421.3 million by 2030, growing steadily at a 6.9% CAGR over the forecast period. Power distribution cables are conductors that carry electrical energy from the distribution network to consumers. Built with insulation and protective layers, they provide safety while maintaining consistent power flow for residential, commercial, and industrial use.
One of the main factors in the global power distribution cables market is the rising need for HVAC and HVDC cables, which are necessary to the transfer of high volumes of electricity over long distances. This is supported by the injection of funds in T&D infrastructure, which amounted to USD 240 billion in 2019 and is expected to exceed USD 3.2 trillion in the next ten years. These investments are aimed at upgrading old grids, increasing the security of the supply, and energy policy, which is leading to the quickening of the market expansion.
Major Company Development
One of the main event points to Fujikura's position at the forefront of innovative connectivity solutions. In June 2022, it presented for the first time its FR2 phased array antenna platform, which is designed for next-generation mmWave 5G systems. In February 2022, the company announced FutureAccess, which is a 28GHz 5G mmWave module integrated solution. In November 2021, the newly built fiber optic cable plant in Swindon, UK, by the subsidiary AFL, was inaugurated. Moreover, in September 2021, Fujikura introduced the 41S+ fusion splicer equipped with Active Fusion Control Technology for better low-loss splicing and excellent fiber management.
Major players in the global power distribution cables market are Prysmian Group, Nexans, Fujikura, Southwire Company, Sumitomo Electric Industries Ltd., Belden, Kei Industries, Amphenol, Finolex Cables, and Encore Wire Corp.
Report Attribute Details
Industry Segmentations
Europe is seen to be leading the market until 2027 due to the renewable energy policies that will have a major impact on the power transmission materials of the region. The EU directives are laying the ground for the extensive implementation of submarine and undersea power cable systems to facilitate cross-border electricity exchanges. Europe's market strength was evenly distributed, with the UK slightly ahead at USD 985.3 million, followed by Germany at USD 938.1 million and France at USD 779.4 million.
The power distribution cables market of North America is mainly supported by the initiatives at the federal and state levels that are targeting the integration of renewables. Several sources of energies and the long-distance transmission lines, Five of Belt Express for instance, are the factors behind the restructuring of the distribution system. The U.S. dominated the North American market with USD 2,390.7 million, while Canada contributed USD 770.5 million, underlining the region's solid transmission and distribution investment.
The Asia-Pacific region is expanding its grid on a very large scale to satisfy its increasing energy needs. While China is leading the HVDC megaprojects, India is developing the underground transmission network like the Aarey-Kudus project. Asia-Pacific emerged as a high-growth region, where China nearly doubled India's market at USD 1,708.3 million, compared to USD 860.6 million.
MEA's power distribution cables market is projected to grow rapidly, thanks to renewable energy investments and rising energy demand. Countries are focusing on cost-efficient bulk transmission systems to strengthen grid reliability. Saudi Arabia stands out as a leader, investing heavily in HVDC solutions to integrate solar and wind energy into national grids.
South America is expanding its cabling applications across telecom, electronics, and power infrastructure. Regulatory frameworks requiring S-Mark and TUV Rheinland Inmetro certifications are ensuring safety compliance for cabling solutions. Investments in R&D and eco-friendly designs are creating new growth opportunities, particularly in Brazil and Chile.