Press release
Exponential Growth Foreseen in Global Cables Market: Noteworthy CAGR, Growth Drivers, and Predominant Trends
What Is The Projected Market Size Of The Global Cables Market And Its Growth Rate?
At an impressive compound annual growth rate of 7.6%, the global cables market witnessed robust expansion from $92.49 billion in 2024 to $99.49 billion in 2025. Key growth drivers in this historic period include the impact of the industrial revolution, the expansion of electricity grid, urbanization and construction, the booming automotive industry, as well as the surge in television and electronics use. Furthermore, significant growth is forecasted for the market, projected to reach $138 billion in 2029, growing at a CAGR of 8.5%, propelled by sustainability initiatives, security and surveillance needs, space exploration and satellite communication, shifts in the automotive industry, and energy efficiency requirements.
What Is Driving The Growth In The Cables Market?
The cables market experiences accelerated growth due to the boost in government investment in electricity transmission and distribution. These crucial infrastructures encompass significant power-transporting processes, from the large-scale transmission of high-voltage electricity from power plants to substations, to its conversion into lower-level voltages for distribution to customers across various sectors. The market is further buoyed by government initiatives designed to upgrade and expand electricity transmission and distribution systems. A notable example is the International Energy Agency's estimation that global investments in electricity distribution and transmission for the 2021-2030 period will stand at approximately $310 billion and $97 billion respectively. Consequently, these increased investments in electricity transmission and distribution are crucial growth drivers for the cables market.
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Who Are the Key Players Driving Cables Market Growth?
Prominent participants in the cables market include:
- Prysmian Group
- Nexans S.A.
- Sumitomo Corporation
- Belden Incorporated
- Fujikura Ltd.
- Leoni AG
- LS Cable & System Ltd.
- NKT A/S
- Southwire Company LLC
- ABB Ltd.
What Are The Key Trends In The Cables Market?
Noteworthy trends in the cables market include:
- Digital transformation
- Renewable energy expansion
- 5G and broadband rollout
- Electric vehicle adoption
- Smart homes and IoT
What Are The Segments Of The Global Cables Market?
The global cables market is categorized as follows:
- By Installation: Overhead, Underground, Submarine
- By Voltage: High, Medium, Low
- By End-User: Industrial, Aerospace And Defense, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users
Which Region Leads The Cables Market?
In 2024, the largest region in the cables market was Asia-Pacific, which covered a vast area including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Cables Market Global Market Report?
- Market Size Analysis: Analyze the Cables Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cables Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cables Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cables Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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