Insights on the Power Cable Market to 2027 | Industry Statistics, Emerging Demands, Forecast to 2027

The global power cable market is anticipated to grow at a CAGR of around % during the forecast period (2021-2027). Asia-Pacific region is creating significant scope for the power cable market owing to the installation of new renewable power generation plants. The region has high population base along with high consumption of power. With 4.4 billion people living in 58 markets, ranging from the world's largest energy consumer to small island economies. The region accounts for more than half of global energy consumption, with 85% of that regional consumption coming from fossil fuels. The region's renewables (wind and solar) generation investments could double to $1.3 trillion over the current decade to 2030 compared to the previous decade (2011 - 2020). The government in major economies of the region is planning to increase their renewable generating capacity, which in turn expected to increase the installation of power grid systems with high demand for power cables. For instance, as per the IEA, the government plans to increase renewable generating capacity from 175 GW in 2022 to 450 GW in 2030.

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Moreover, the rise of low-cost wind and solar power, deployment of distributed energy resources (DER) and increasing digitalization are accelerating change in power systems in China. As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Apart from these, in 2019, China's hydropower capacity reached 356 GW. China's installed capacity of solar power reached 252 GW and wind power capacity was 282 GW, as of 2020. This has increased the demand for power cables.

Market Coverage

• The market number available for - 2020-2027

• Base year- 2020

• Forecast period- 2021-2027

Segment Covered-

· By Installation Type

· By Voltage

· By Application

· By End-User

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

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Global Power Cable Market Report Segment

By Installation type

• Overhead

• Underground

• Submarine

By Voltage

• Up to 240V

• 240V-1kV

• 1kV-15kV

• 15kV-100kV

• 100kV-250kV

• and above 250kV

By Application

· Ground photovoltaic power generation

· Thermal power generation

· Nuclear power generation

· Offshore wind power generation

By End-User

· Commercial

· Industrial

· Utilities

Global Power Cable Market Report by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East & Africa

Company Profiles

· ABB LTD.

· BAHRA CABLES CO

· BELDEN INC.,

· BRUGG KABEL AG

· CABLE CORP.

· ENCORE WIRE CORP

· FINOLEX CABLES LTD.

· FUJIKURA LTD.

· FURUKAWA ELECTRIC CO., LTD.,

· GENERAL CABLE

· HENGTONG GROUP CO. LTD.

· KEI INDUSTRIES

· L S CABLE AND SYSTEMS LTD.

· LEONI AG

· NEXANS S.A.

· NKT A/S

· POLYCAB INDIA LTD.

· PRYSMIAN S.P.A

· RIYADH CABLES GROUP CO.

· SOUTHWIRE CO. LLC

· SUMITOMO ELECTRIC INDUSTRIES, LTD.

· TPC WIRE & CABLE CORP.

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