Power Cables Market Size, Share, Demand, Industry Trends and Forecast 2022-2027

According to the latest report by IMARC Group "Power Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global power cables market reached a value of US$ 156.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 224.1 Billion by 2027, exhibiting a CAGR of 6.26% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Power cables are electrical cables that are widely used for transmission and distribution of electrical energy. The three main components of these cables include the conductor, dielectric, and sheath. The inner and outer sheaths are made from polyvinyl chloride coatings that do not allow moisture to seep through. This aids in protecting power cables against mechanical, thermal and environmental conditions and external influences, such as fire, chemicals or electrochemical attacks. These cables offer long-term reliability while providing excellent insulation and current conductivity. They are installed for the transmission of extra high voltages where overhead lines are impractical to employ. They are also used as permanent wiring within buildings, for transmission purposes in submarines and for utility distribution networks in underground cabling.

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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Power Cables Market Trends:

The market is primarily driven by the increasing demand for renewable power plants on the global level. Governments of numerous countries are encouraging the utilization of clean energy in an effort to promote sustainable development. This, in turn, has led to the development of new power plants, thereby facilitating the uptake of power cables. Moreover, high voltage power cables form an essential component of the interconnector and offshore wind projects for transferring large volumes of power. Also, there has been a rising requirement for the installation of smart grids across the globe. Supported by the ever-increasing demand for uninterrupted power supply across the residential, commercial and industrial segments, this is providing a thrust to the market growth. Furthermore, technological advancements in material sciences have resulted in the development of improved synthetic insulating compounds that are manufactured using thermoplastic, thermosetting and fluorocarbon materials. These superior materials are suitable for the production of power cables with exceptional resilience and improved efficiency. Furthermore, the rising demand for ultra-high voltage networks in the manufacturing sector is acting as another major growth-inducing factor.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global power cables market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on installation, voltage, end-use sector and material.

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.

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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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.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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