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Global Cables Market Analysis (2023-2032)- Business Insights, Latest Trends, Opportunity Assessment And Key Players | Prysmian Group, Nexans S.A., The Furukawa Electric Co. Ltd., Sumitomo Corporation, Belden Incorporated
Cables Market
Cables Market Size, Growth Rate, And Forecast
The global cables market size is expected to grow from $80.49 billion in 2022 to $87.71 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cables market size is expected to grow to $120.85 billion in 2027 at a CAGR of 8.3%.
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Cables Market Drivers
The increase in government investment in the transmission and distribution of electricity is expected to propel the growth of the cable market. Electricity transmission refers to the large-scale movement of high-voltage electricity from a power plant to a substation, whereas power distribution refers to the conversion of high-voltage electricity at substations to lower voltages that can be distributed and used by private, public, and industrial customers. Additionally, government initiatives to expand or upgrade electricity transmission and distribution systems are favoring the demand for cables.
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Cables Market Segments
By Installation: Overhead, Underground, Submarine
By Voltage: High, Medium, Low
By End-User: Industrial, Aerospace And Defence, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Cables Market.
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Cables Market Key Players
Major competitors in the cables market include Prysmian Group, Nexans S.A., The Furukawa Electric Co. Ltd., Sumitomo Corporation, Belden Incorporated, Fujikura Ltd., Leoni AG, LS Cable & System.
The Business Research Company's "Global Cables Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Cables Market Include:
1. Executive Summary
2. Cables Market Characteristics
3. Cables Market Trends And Strategies
4. Cables Market - Macro Economic Scenario
5. Cables Market Size And Growth
……
26. Africa Cables Market
27. Cables Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cables Market
29. Cables Market Future Outlook and Potential Analysis
30. Appendix
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