Press release
Power Cables Market Size Reach US$ 224.1 Billion by 2027 | CAGR of 6.26%
Power cables refer to an assembly of conductors used for the distribution and transmission of electrical energy. These cables involve various components, such as dielectric, arbors, insulation, conductors, and polyvinyl chloride (PVC) outer and inner sheaths. Power cables provide precise insulation, current conductivity and protection against mechanical, thermal and environmental damage. As a result, they are widely adopted in permanent wiring within buildings, utility distribution networks, and submarines.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The global power cables market is primarily being driven by industrialization and urbanization, which is increasing their utilization in novel construction projects. Additionally, the growing establishment of renewable power generation plants is facilitating the demand for power cables. Rapid technological advancements in material sciences, such as the development of improved synthetic insulating compounds, have led to enhanced efficiency and resilience of power cables, which is propelling the market growth. Apart from this, an increasing number of smart grid installations across the commercial, residential, and industrial sectors, are creating a positive outlook for the market.
Breakup by Installation:
Overhead
Underground
Submarine Cables
Breakup by Voltage:
High
Medium
Low
Breakup by End-Use Sector:
Power
Oil & Gas
Chemical
Manufacturing
Metals & Mining
Infrastructure
Transportation
Others
Breakup by Material:
Copper
Aluminum
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Prysmian Group
Belden Inc.
Encore Wire Corporation
Finolex Cables Ltd.
Fujikura Ltd.
Furukawa Electric Co. Ltd.
Hengtong Group
KEI Industries
L S Cable and Systems
Leoni AG
Nexans
NKT Holding
Southwire Company
Sumitomo Electric Industries
TPC Wire
Cable Corp.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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