Press release
Power And Control Cable Market Expansion Continues, with Forecast Valuation of $213.82 Billion by 2029
Power And Control Cable Market
Power And Control Cable Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the years, the power and control cable market has experienced significant growth. The market size, currently at $157.44 billion in 2024, is projected to increase to $167.93 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. The historical growth has been fueled by factors such as increased industrialization, urbanization and infrastructure development, expansion in the energy sector, manufacturing upswing and the integration of renewable energy.
Power And Control Cable Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size for power and control cable is predicted to witness robust growth, reaching a projected "$213.82 billion in 2029 with a yearly compound growth rate (CAGR) fixed at 6.2%. Several factors are expected to influence this growth in the projected period, such as ongoing industrial development, the advent of smart cities, increased focus on transportation electrification, refurbishments of power grids, and expansion of telecommunication infrastructures. Future market trends include energy storage systems, further electrification of transportation, a concentrated effort on energy efficiency, rigorous safety and environmental norms, and the globalization of supply chains.
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What Are the Drivers Transforming the Power And Control Cable Market?
Growth in the power and control cable market is anticipated to be driven by the increasing implementation of smart grid infrastructure. This type of infrastructure is an electricity grid that uses advanced digital and other technologies for supervising and controlling the transmission of electricity, sourced from different generation points and tailored to meet diverse electrical requirements of consumers. The power and control cables, comprising robust super grid technology, are efficient in constructing a compact urban grid that allows energy transportation over extended distances, with negligible power reductions. As per the International Energy Agency, an autonomous intergovernmental group based in France, smart grid investment ought to escalate from nearly $330 billion per year presently, to $750 billion by 2030. This is to align with the Net Zero Emissions by 2050 scenario, particularly in emerging and developing economies. Consequently, the heightened implementation of smart grid systems is accelerating the expansion of the power and control cable market.
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What Long-Term Trends Will Define the Future of the Power And Control Cable Market?
Product innovation is influencing the power and control cable market. In July 2022, US-based Remee Products Corporation launched the Activate PowerPipe cable line. These Class 4 fault-managed cables provide reliable, long-distance power delivery for digital systems, supporting the development of smart infrastructure and related technologies.
Which Segments in the Power And Control Cable Market Offer the Most Profit Potential?
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 Firms Dominate the Power And Control Cable Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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
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