Power Cables Market Size Worth US$ 224.1 Billion By 2027 | Industry CAGR of 6.26%

IMARC Group has recently released a new research study titled "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.

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.

Impact of COVID-19:

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 and Drivers:

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.

Explore full report with table of contents: https://www.imarcgroup.com/power-cables-market

Report Segmentation:

The report has segmented the market into the following categories:

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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