Press release
Power And Control Cable Market Expected to Achieve 6% CAGR by 2029: Growth Forecast Insights
Power And Control Cable Market
How Large Will the Power And Control Cable Market Size By 2025?
In recent years, the power and control cable market has significantly expanded. A surge from $157.44 billion in 2024 to $165.69 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.2%, is anticipated. The growth observed in the historical period is primarily due to factors such as the boom in industrialization, urbanization and infrastructure development, the expansion of the energy sector, manufacturing growth, and the inclusion of renewable energy.
How Big Is the Power And Control Cable Market Size Expected to Grow by 2029?
The market size of power and control cables is projected to see robust expansion in the coming years, reaching a valuation of $209.57 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The growth anticipated within this period is associated with the ongoing growth in the industrial sector, smart city initiatives, the incorporation of electricity into transportation, enhancement of power grids and the growth of the telecommunication infrastructure. Key trends expected to shape this period include energy storage systems, further electrification of transportation, an increased focus on energy efficiency, strict safety and environmental regulations, and the globalization of supply chains.
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Which Key Market Drivers Powering Power And Control Cable Market Expansion and Growth?
The uptick in the integration of smart grid systems is projected to stimulate the expansion of the power and control cable marketplace in the future. A smart grid infrastructure signifies an electrical grid enhanced with digital and other advanced technologies to oversee and administer the delivery of electricity from all its sources, fulfilling diverse electrical demands of consumers. The setup of power and control cables includes ultra-secure super grid system, which is powerful in facilitating a thick urban grid that channels energy over extended distances with low power wastage. For instance, as per the International Energy Agency, a sovereign intergovernmental organization based in France, investments in smart grids should escalate over two-fold from an annual figure of about $330 billion to $750 billion by 2030 for aligning with the objectives of the Net Zero Emissions by 2050 (NZE) Scenario, most notably in emerging market and developing economies (EMDEs). Consequentially, the higher uptake of smart grid systems is playing a pivotal role in driving the expansion of the power and control cable marketplace.
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Which Fast-Growing Trends Are Poised to Disrupt the Power And Control Cable Market?
Innovations in products are becoming a significant trend in the power and control cable industry. The leading businesses in this market are creating new technologies to bolster their market stance. Remee Products Corporation, a U.S. company specializing in electronic wire and cable manufacturing, for example, unveiled the activation series of PowerPipe distribution cables in July 2022. These cables provide long-range reliant, affordable Class 4 fault-managed power for distributed electronics. Furthermore, they will contribute to the progression of digital power technologies essential for smart buildings and various other applications.
What Are the Emerging Segments in the Power And Control Cable Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Power And Control Cable Industry?
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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