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Aluminum Cable Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Aluminum Cable
What Is the Expected Aluminum Cable Market Size During the Forecast Period?
In recent years, the aluminum cable market has witnessed robust growth. From a market size of $59.14 billion in 2024, it is projected to expand to $62.48 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%. Factors such as cost-efficiency, corrosion resistance, electrical conductivity, lightness in weight, and growth of power infrastructure have been the key drivers of growth during the historic period.
In the coming years, the aluminum cable industry size is anticipated to witness robust expansion. It is projected to reach a value of $78.85 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The expansion during the forecast period is due to factors like the growth of renewable energy, advancement of smart grids, an uptick in urban electrification, energy efficiency rules, and adoption of sustainable methods in construction. The forecast period will see significant trends such as advancements in manufacturing technology, infrastructure investments, emphasis on energy efficiency and sustainability, growing demand from the construction sector, and market proliferation in developing regions.
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What Are the High-Growth Segments in the Aluminum Cable Market?
The aluminum cable market covered in this report is segmented -
1) By Type: Interlocking Metal Sheathed Cable, Flame Retardant Fire-Resistant Cable, Other Types
2) By Grade: Electrical, Alloy, Mechanical
3) By Application: Automobile, Transformers, Motors, Circuit Breakers, Electrical Appliances, Other Applications
Subsegments:
1) By Interlocking Metal Sheathed Cable: Interlocking Armor Cable, Type AC (Armored Cable), Type MC (Metal-Clad Cable)
2) By Flame Retardant Fire-Resistant Cable: Low Smoke Zero Halogen (LSZH) Cable, Fire-Resistant Power Cables, Fire-Resistant Control Cables
3) By Other Types: Aluminum Conductors (AAC, ACSR, etc.), Overhead Aluminum Transmission Cables, Underground Aluminum Distribution Cables, Specialty Aluminum Cables
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What Key Drivers Are Expected to Influence Future Aluminum Cable Market Growth?
An increase in the popularity of electric vehicles is anticipated to stimulate the expansion of the aluminum cable market. Electric vehicles, which are driven by one or several electric motors that use electrical energy sourced from batteries or an external source, need aluminum cables. These cables have exceptional electrical conductivity, which enables efficient power transmission in electric vehicles and are also employed in their chargers. As an illustration, the U.S. Energy information administration, a US-based association, stated in January 2024 that, in 2023, hybrid, plug-in hybrid electric, and battery electric vehicles (BEVS) sales together constituted 16.3% of total new light-duty vehicle (LDV) sales in the US. Furthermore, the Department Of Energy, a US-based government site, noted in March 2022 that, in 2021, 73% of all plug-in electric vehicle (PEV) sales in the US were electric vehicles (EV). Consequently, the escalating demand for electric vehicles is accelerating the advancement of the aluminum cable market.
Which Companies Hold the Largest Share Across Different Aluminum Cable Market Segments?
Major companies operating in the aluminum cable market include Hitachi Cable Ltd, Asea Brown Boveri Ltd, Sumitomo Electric Industries Ltd., Jiangsu Hengtong Cable, Henan Jinlong Cable, Prysmian SpA, Nexans SA, Furukawa Electric, Leoni AG, Shanghai Nanshan Aluminum, Kaiser Aluminum Corporation, Polycab Wires Pvt Ltd., NKT Cables AS, Havells India Limited, Sterlite Technologies Limited, Finolex Cables Limited, KEI Industries Limited, Eland Cables Limited, Southern Cable Group, Emmflex, RR Kabel Limited, Sam Dong Inc., Southwire Company LLC, Radcliff Wire Inc., General Cable Technologies Corporation, Guangdong Guangnan Wires & Cables, Canusa Cable Ltd, Vidyut Cables Pvt Ltd
What Trends Are Driving Growth in The Aluminum Cable Market?
Leading businesses in the aluminum cable market are pioneering new products to maintain their market stronghold. For instance, Nexans S.A., a renowned cable and fiber optic company from France, unveiled a novel line of low-carbon aluminum distribution grid cables in May 2023. This inventive strategy substantially cuts down greenhouse gas emissions linked to low- and medium-voltage electricity cables, achieving a considerable 35-50% reduction based on the specific product. The company now uses exclusively low-carbon aluminum, complying with the decarbonization guidelines put forward by the Aluminum Forward 2030 coalition. Furthermore, up to 50% recycled plastic is used in the insulation and sheathing of the cables.
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What Are the Emerging Geographies for The Aluminum Cable Market Growth?
North America was the largest region in the aluminum cable market in 2024. The regions covered in the aluminum cable 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 Aluminum Cable Market?
2. What is the CAGR expected in the Aluminum Cable Market?
3. What Are the Key Innovations Transforming the Aluminum Cable Industry?
4. Which Region Is Leading the Aluminum Cable Market?
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