Press release
Global Cables and Accessories Market Anticipated to Reach US$ 227.81 Billion by 2029 with 5.35% CAGR
Cables & Accessories Market
The global cables and accessories market is forecasted to attain a value of US$ 227.81 billion by the year 2029, showcasing a robust Compound Annual Growth Rate (CAGR) of 5.35% throughout the forecast period.
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Market Report Scope and Research Methodology
The report offers comprehensive insights into the global cables and accessories market, including detailed analysis of market segments based on voltage, end-user installation, and region. Historical market dynamics from 2022 to 2029 are examined to provide readers with a benchmark for current market scenarios and the contributions of key players.
The report profiles key market players from various regions and considers market leaders, followers, and new entrants, along with investors, to estimate market size. Regional manufacturing environments, supply chain dynamics, labor costs, availability of advanced technologies, and policy implications are thoroughly analyzed to provide recommendations for future market opportunities across five regions.
Market Overview:
The growth of the cables and accessories market is primarily driven by several key factors, including the increasing demand for renewable energy, rapid industrialization and urbanization, global expansion of High Voltage Direct Current (HVDC) projects, and government initiatives aimed at enhancing and modernizing Transmission and Distribution (T&D) infrastructure. Additionally, factors such as the expansion of power capacity on a global scale, adoption of offshore wind regulations in emerging economies, transition from conventional grids to Smart Grids, and infrastructure upgrades in developing markets are expected to create new opportunities for market growth.
Market Dynamics:
Challenges such as constrained budgets, complex planning and approval processes for projects, delays in implementation, high costs of raw materials, and availability of inexpensive products in gray markets are identified as key factors impacting market development. Furthermore, a lack of technical expertise in deploying HVDC schemes poses a challenge to market growth.
Regional Insights:
The United States is poised to lead global capital expenditure in smart grid infrastructure, driven by government stimulus funding and the implementation of advanced metering infrastructure.
China is projected to surpass the United States in annual smart grid capital expenditure by 2022, with ambitious plans for widespread smart meter deployment.
Other significant markets for smart grid investment include India and Brazil, which have announced large-scale smart meter rollout initiatives.
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Regional Market Leadership:
The Asia-Pacific (APAC) region holds the largest market share and is expected to maintain its leadership position, with China leading in MV cables and accessories.
Key players in the market include Nexans, General Cable Technologies Corp, ABB Ltd, Brugg Group, among others.
What is Cables & Accessories Market Segmentation:
Medium Voltage (MV) cables are expected to dominate the market share during the forecast period, attributed to their versatile applications in temporary power supply and MV switchgear.
Low Voltage (LV) cables and accessories currently lead the market, primarily due to their utilization in underground distribution networks.
PVC cables are forecasted to exhibit significant growth, driven by increasing demand from utilities and renewables sectors, particularly in offshore wind projects and emerging markets.
by Voltage
Low Voltage
Medium Voltage
High Voltage
by End-User
Industrial
Renewable
by Installation
Overhead Cables & Accessories
Underground Cables & Accessories
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Who are Cables & Accessories Market Key Players:
1. Prysmian
2. NKT Cables
3. Nexans
4. General Cable
5. ABB
6. Sumitomo
7. Dubai Cable
8. Tele-Fonika
9. LS Cable
10.Southwire
11.Furukawa
12.Elsewedy
13.Kabelwerke
14.Taihan Electric Wire Company Ltd
15.Brugg Group
16.Bahra Advanced Cable Manufacture Co Ltd
17.Caledonian Cables Ltd
18.TPC Wire & Cable Corp
19.Top Cable
20.Riyadh Cables Group of Companies
21.Southwire Company LLC
22.Eland Cables Ltd.
23.PFISTERER Holding AG
24.REPL International Limited
25.Sudkabel GmbH
26.Yamuna Cable Accessories (P) Limited
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Table of content for the Cables & Accessories Market includes:
Global Cables & Accessories Market: Research Methodology
Global Cables & Accessories Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Cables & Accessories Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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Key Offerings:
Market Share, Size & Forecast by Revenue | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation - A detailed analysis by segments and sub-segments
Competitive Landscape - Top Key Vendors and Other Prominent Vendors
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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