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Cables Market Size, Share & Trends Report, 2033
Cables Market Size
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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