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Cables Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Cables Market
Cables Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $174.44 billion In 2028 At A CAGR Of 8.7% :
The cables market size has grown strongly in recent years. It will grow from $87.26 billion in 2023 to $95 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to industrial revolution impact, electricity grid expansion, urbanization and construction, automotive industry growth, televisions and electronics boom.
The cables market size is expected to see strong growth in the next few years. It will grow to $132.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to sustainability initiatives, security and surveillance needs, space exploration and satellite communication, automotive industry shifts, energy efficiency requirements. Major trends in the forecast period include digital transformation, renewable energy expansion, 5g and broadband rollout, electric vehicle adoption, smart homes and iot.
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Cables Market Major Segments
The cables market covered in this report is segmented -
1) By Installation: Overhead, Underground, Submarine
2) By Voltage: High, Medium, Low
3) By End-User: Industrial, Aerospace And Defence, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users
Key Driver - Government Investments In Electricity Transmission And Distribution Fueling The Cable Market Expansion
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. For instance, in October 2022, according to statistical data published by the International Energy Agency (IEA), a France-based intergovernmental organization, the global investment for 2021-2030 would be approximately $310 billion in electricity distribution and $97 billion in electricity transmission. Therefore, the increase in investments in the transmission and distribution of electricity is driving the cable market.
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Prominent Trend - Belden Introduces Robust Performers For Harsh Environments And Compact Spaces
Product innovations have emerged as a key trend gaining popularity in the cables market. Major companies are introducing innovative products and delivering products with robust performance that can withstand extreme environments and maximize space utilization compared to other traditional cables. For instance, in August 2021, Belden a US-based manufacturer of networking, connectivity, and cable products launched Belden DataTuff Cat 6A, Belden OSDP Access Control Cables, and Alpha Wire ThermoThin Hook-Up Wires. These products provide dependable, robust performance in high-movement, harsh-environment applications. It is designed for compact industrial spaces and offers torsion tolerance. It connects security and access control systems with high levels of security, flexibility, convenience, and efficiency.
Cables Market Players
Major companies operating in the cables market report are Prysmian Group, Nexans S.A., The Furukawa Electric Co. Ltd., Sumitomo Corporation, Belden Incorporated, Fujikura Ltd., Leoni AG, LS Cable & System Ltd., NKT A/S, Southwire Company LLC, ABB Ltd., Polycab India Ltd., Huawei Technologies Co. Limited, Axon Cable SAS, KEI Industries Ltd., General Cable Corp., Encore Wire Corporation, Finolex Cables Ltd., Bahra Cables Company, Brugg Kabel AG, Riyadh Cables Group Company, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Lapp Tannehill, Dacon Systems Inc., American Wire Group, CommScope Holding Company Inc., Sterlite Technologies Limited, Aksh Optifibre Ltd., Paramount Communications Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the cables market in 2023. The regions covered in the cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cables Market Report Structure
3. Cables Market Trends And Strategies
4. Cables Market - Macro Economic Scenario
5. Cables Market Size And Growth
…..
27. Cables Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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