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Global Power And Control Cable Market Projected to Surpass $213.82 Billion by 2029 with 6% Annual Growth
Power And Control Cable Global Market Report 2025
The growth of the power and control cable market is anticipated to be driven by the increasing use of smart grid infrastructure. This entails an electricity network that employs digital and other advanced technologies to oversee and manage the transmission of electricity from all power sources to cater to the diversified electricity requirements of end users. Power and control cables are integrated with secure super grid technology, which is effective in developing a dense urban grid that carries energy over long distances with little power losses. For example, the France-based autonomous intergovernmental organization, International Energy Agency, states that investment in smart grids needs to more than double from about $330 billion annually to $750 billion by 2030 in order to align with the Net Zero Emissions by 2050 (NZE) Scenario, particularly in emerging market and developing economies (EMDEs). Hence, the growing use of smart grid infrastructure is fuelling the expansion of the power and control cable market.
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What is the projected compound annual growth rate (CAGR) of the power and control cable market from 2025 to 2034, and what factors influence it?
Over the past few years, the power and control cable market has seen robust growth. Its size is expected to jump from $157.44 billion in 2024 to $167.93 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.7%. This surge during the historical period can be traced back to the boom in industrialization, increased urbanization and infrastructure development, expansion in the energy sector and manufacturing, as well as integration of renewable energy.
In the forthcoming years, significant growth is anticipated in the power and control cable market, estimated to reach $213.82 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. This growth during the projection period can be credited to ongoing industrial development, initiatives for smart cities, transportation electrification, power grid upgrades, and the expansion of telecom infrastructure. The main trends for the forecast period encompass energy storage systems, transportation electrification, emphasis on energy efficiency, strict safety and environmental norms, and the globalization of supply chains.
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How are the latest trends influencing the growth of the power and control cable market?
In the power and control cable market, product innovations are an emerging trend that's garnering significance. Major companies are creating novel technologies in order to secure their dominance in this particular market. For instance, Remee Products Corporation, an American electronic wire and cable manufacturing entity, introduced the Activate series of PowerPipe distribution cables in July 2022. These cables will provide reliable, economical Class 4 fault-managed power supplies for dispersed electronics that require long-distance operation. Additionally, these cables will contribute to the progression of digital power technologies indispensable for smart buildings and assorted other applications.
What are the major segments of the power and control cable market and their role in driving growth?
The power and control cable market covered in this report is segmented -
1) By Product Type: Power Cable, Control Cable
2) By Voltage Type: High Voltage, Medium Voltage, Low Voltage
3) By Application: Utilities, Industries, Power, Oil And Gas, Cement, Other Applications
Subsegments:
1) By Power Cable: Low Voltage Power Cables, Medium Voltage Power Cables, High Voltage Power Cables, Underground Power Cables
2) By Control Cable: Instrumentation Control Cables, Signal Control Cables, Remote Control Cables, Other Control Cables
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Which regions are key players in the growth of the power and control cable market?
North America was the largest region in the power and control cable market in 2024.Asia-Pacific is expected to be the global power and control cable market report during the fastest-growing region. The regions covered in the power and control cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the power and control cable market?
Major companies operating in the power and control cable market include Prysmian SpA, Nexans SA, Polycab India Limited, NKT A/S, Dubai Cable Company Pvt. Ltd., KEI Industries Limited, LS Cable & System Ltd., Sumitomo Electric Industries Ltd., Belden Incorporated, Furukawa Electric Co. Ltd., Southwire Company LLC, Riyadh Cables Group Company, General Cable Technologies Corporation, KEC International Ltd., Encore Wire Corporation, Hengtong Group, Leoni AG, Tyler Madison Inc., Okonite Company, TPC Wire & Cable Corp., Fujikura Ltd., Hitachi Cable Ltd., Walsin Lihwa Corp., Bahra Cables Company, Brugg Cables AG, Anixter International Inc., Tratos Ltd.
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What Is Covered In The Power And Control Cable Global Market Report?
• Market Size Forecast: Examine the power and control cable market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the power and control cable market for a structured understanding.
• Key Players Overview: Analyze major players in the power and control cable market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power and control cable market.
• Segment Contributions: Evaluate how different segments drive overall growth in the power and control cable market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power and control cable market.
• Industry Challenges: Identify potential risks and obstacles affecting the power and control cable market.
• Competitive Landscape: Review strategic developments in the power and control cable market, including expansions, agreements, and new product launches.
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