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Government Investments In Electricity Transmission And Distribution Fueling The Cable Market Expansion: A Significant Driver Propelling The Cables Market In 2025
Cables
What Is the Cables Market Size and Projected Growth Rate?
Over the past few years, the size of the cables market has seen significant growth. It is predicted to increase from $92.49 billion in 2024 to $99.49 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth include the effects of the industrial revolution, the expansion of the electricity grid, urbanization and construction developments, the expanding automotive industry, and the surge in televisions and electronics.
The market size of cables is predicted to experience robust expansion in the coming years, reaching a value of $138 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. The surge predicted for the forecast period can be linked to factors such as sustainability measures, security and surveillance requirements, activities in space exploration and satellite communication, changes within the automotive industry, and mandates for energy efficiency. Notable trends during the forecast period encompass digital revolution, the growth of renewable energy, the introduction of 5g and broadband, increased use of electric vehicles, and the advent of smart homes and IoT.
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What Are the Major Segments in the Cables Market?
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 Defense, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users
Subsegments:
1) By Overhead: Aerial Bundled Cables, Bare Conductors
2) By Underground: Low-Voltage Underground Cables, High-Voltage Underground Cables
3) By Submarine: Submarine Power Cables, Submarine Communication Cables
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What Are The Driving Cables Market Evolution?
The cable market is predicted to grow due to the rise in government funding for electricity transmission and distribution. The process of electricity transmission involves the large-scale transportation of high-voltage electricity from power plants to substations, while electricity distribution converts this high-voltage energy at substations into lower voltages for public, private, and industrial use. Government-driven efforts to enhance or increase electricity transmission and distribution systems are boosting the demand for cables. For example, as per the statistical information released by the International Energy Agency (IEA), a French intergovernmental organization, in October 2022 it was predicted that the global investment for the period of 2021-2030 would be around $310 billion for electricity distribution and $97 billion for electricity transmission. Thus, the growing investments in electricity transmission and distribution are stimulating the growth of the cable market.
Which Firms Dominate The Cables Market Segments?
Major companies operating in the cables market are 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., 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.
What Trends Are Expected to Dominate the Cables Market in the Next 5 Years?
Key players in the cable sector are concentrating their efforts on innovation, particularly in the production of fiber optic microcables, to meet the demand for reliable and high-speed data transmission. Fiber optic microcables are slender, featherweight cables that use fiber optic technology to send data via light waves. To illustrate, an Indian telecommunications firm, HFCL Limited, unveiled a slew of groundbreaking optical fiber products at the ISE EXPO 2024, held in Dallas, Texas, in May 2023. Among their offerings were a 1728-fiber Intermittently Bonded Ribbon (IBR) cable purposed for dense installations and quick recovery during power failures. HFCL also brought to light their Nano Thin Microcables, a 10.6mm diameter 864 fiber cable able to maximize fiber capacity in 14mm microducts, setting a global record for fiber packing density at 9.8 fibers/mm2. In addition, HFCL featured their high-density single-jacket single-armor IBR cables, with a fiber range of 144 to 1728 fibers.
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Which Is The Largest Region In The Cables Market?
Asia-Pacific was the largest region in the cables market in 2024. The regions covered in the cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cables Market?
2. What is the CAGR expected in the Cables Market?
3. What Are the Key Innovations Transforming the Cables Industry?
4. Which Region Is Leading the Cables Market?
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