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In 2022, the global market for power and control cables was worth USD 129 billion; by 2030, that number is expected to rise to USD 211.39 billion, a CAGR of 8% from 2023 to 2030.
The current development of urbanization in many developing countries and emerging economies around the world is largely responsible for the increased need for power and control cables. The rapid growth of cities and the proliferation of infrastructure development projects like airports, railways, and highways have sped up the construction of commercial and residential building infrastructures, increasing the need for extensive and complex electrical and control systems. Because of this, the global market for power and control cables is expected to grow.
Growing demand from industries including manufacturing, transportation, aerospace, and power generation is helping to fuel the global power and control cable market. These sectors rely extensively on power and control connections to run their machinery, automation systems, and power distribution networks. The demand for specialized and high-quality cables will increase as these industries continue down the path of upgrading and automating their operations and processes.
Conventional resources are dwindling, and there are growing concerns about meeting the long-term needs of the world's ever-increasing energy demand. This has had a major impact on power markets around the world. Because of this, producers have zeroed in on creating energy-saving and functionally versatile parts. The power and control cable market is poised for expansion thanks to factors such as the increasing use of digital monitoring and control systems.
In order to ensure that today's power grids can transport electricity efficiently and reliably, smart grid technology is pushing the development of state-of-the-art power and control cables. Smart grids require bidirectional power transmission, data sharing with other network nodes, and the ability to dynamically adjust power output in response to fluctuating demand. To satisfy the requirements of smart grid technologies, manufacturers are producing power cables that are smarter, more flexible, and more efficient.
Power cables play an increasingly critical role in the operation of electrical systems, making it all the more crucial to ensure their security and dependability. This development is of utmost significance in industries like aircraft, defense, and medical equipment where even a tiny failure in a power connection can have catastrophic effects. In order to ensure the reliability of their cables, manufacturers are investing in testing and certification programs and developing cables that adhere to stricter safety and quality criteria.
The continuing trend of urbanization around the world and the resulting requirement for greater development of infrastructure has been one of the leading factors driving the power and control cable market. The demand for power and control cables rises slowly but steadily as more homes, offices, factories, and transit hubs are built in the urban fabric of developing countries. The worldwide shift to renewable energy sources like wind and solar has increased demand for power lines. Large cable networks are often necessary to transmit and receive electricity from these limitless energy sources, which are often located far from urban centers. As the world transitions to renewable energy sources, an increase in the need for power cables is anticipated.
The price of copper and aluminum, two of the primary raw materials, has a significant impact on the power and control cable market. Price fluctuations in the aforementioned inputs have the potential to influence production expenses and, in turn, cable prices. Unpredictable price fluctuations may arise for a variety of economic and geopolitical reasons. Further restraints on the power and control cables industry have come from increased environmental laws and consumer desire for greener products. In order to provide environmentally safe and sustainably produced cables, producers must adhere to stringent environmental protection criteria. Consequently, following these guidelines raises production costs, which slows down the market.
Report Coverage
Global Power And Control Cable research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power And Control Cable report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power And Control Cable competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power And Control Cable market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power And Control Cable market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power And Control Cable market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Prysmian Group - Italy, Nexans - France, General Cable - United States, Southwire - United States, LS Cable & System - South Korea, Furukawa Electric - Japan, Sumitomo Electric Industries - Japan, Belden Inc. - United States, Lapp Group - Germany, Leoni AG - Germany, ABB Group - Switzerland, Encore Wire Corporation - United States, CME Wire and Cable - United States, Cable Corporation of India - India, NKT A/S - Denmark, TPC Wire & Cable Corp. - United States, General Cable Corporation - United States, Bahra Cables Company - Saudi Arabia, Universal Cables Ltd. - India, Tratos - United Kingdom.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power And Control Cable market based on the below-mentioned segments:
Global Power And Control Cable Market, By Voltage
Low voltage
Medium voltage
High voltage cables
Global Power And Control Cable market, By Application
Energy
Construction
Automotive
Telecommunications
Global Power And Control Cable market, Regional Analysis
The current development of urbanization in many developing countries and emerging economies around the world is largely responsible for the increased need for power and control cables. The rapid growth of cities and the proliferation of infrastructure development projects like airports, railways, and highways have sped up the construction of commercial and residential building infrastructures, increasing the need for extensive and complex electrical and control systems. Because of this, the global market for power and control cables is expected to grow.
Growing demand from industries including manufacturing, transportation, aerospace, and power generation is helping to fuel the global power and control cable market. These sectors rely extensively on power and control connections to run their machinery, automation systems, and power distribution networks. The demand for specialized and high-quality cables will increase as these industries continue down the path of upgrading and automating their operations and processes.
Conventional resources are dwindling, and there are growing concerns about meeting the long-term needs of the world's ever-increasing energy demand. This has had a major impact on power markets around the world. Because of this, producers have zeroed in on creating energy-saving and functionally versatile parts. The power and control cable market is poised for expansion thanks to factors such as the increasing use of digital monitoring and control systems.
In order to ensure that today's power grids can transport electricity efficiently and reliably, smart grid technology is pushing the development of state-of-the-art power and control cables. Smart grids require bidirectional power transmission, data sharing with other network nodes, and the ability to dynamically adjust power output in response to fluctuating demand. To satisfy the requirements of smart grid technologies, manufacturers are producing power cables that are smarter, more flexible, and more efficient.
Power cables play an increasingly critical role in the operation of electrical systems, making it all the more crucial to ensure their security and dependability. This development is of utmost significance in industries like aircraft, defense, and medical equipment where even a tiny failure in a power connection can have catastrophic effects. In order to ensure the reliability of their cables, manufacturers are investing in testing and certification programs and developing cables that adhere to stricter safety and quality criteria.
The continuing trend of urbanization around the world and the resulting requirement for greater development of infrastructure has been one of the leading factors driving the power and control cable market. The demand for power and control cables rises slowly but steadily as more homes, offices, factories, and transit hubs are built in the urban fabric of developing countries. The worldwide shift to renewable energy sources like wind and solar has increased demand for power lines. Large cable networks are often necessary to transmit and receive electricity from these limitless energy sources, which are often located far from urban centers. As the world transitions to renewable energy sources, an increase in the need for power cables is anticipated.
The price of copper and aluminum, two of the primary raw materials, has a significant impact on the power and control cable market. Price fluctuations in the aforementioned inputs have the potential to influence production expenses and, in turn, cable prices. Unpredictable price fluctuations may arise for a variety of economic and geopolitical reasons. Further restraints on the power and control cables industry have come from increased environmental laws and consumer desire for greener products. In order to provide environmentally safe and sustainably produced cables, producers must adhere to stringent environmental protection criteria. Consequently, following these guidelines raises production costs, which slows down the market.
Report Coverage
Global Power And Control Cable research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power And Control Cable report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power And Control Cable competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power And Control Cable market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Prysmian Group - Italy, Nexans - France, General Cable - United States, Southwire - United States, LS Cable & System - South Korea, Furukawa Electric - Japan, Sumitomo Electric Industries - Japan, Belden Inc. - United States, Lapp Group - Germany, Leoni AG - Germany, ABB Group - Switzerland, Encore Wire Corporation - United States, CME Wire and Cable - United States, Cable Corporation of India - India, NKT A/S - Denmark, TPC Wire & Cable Corp. - United States, General Cable Corporation - United States, Bahra Cables Company - Saudi Arabia, Universal Cables Ltd. - India, Tratos - United Kingdom. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Power And Control Cable Market from 2021 to 2030.
- Market Forecast for Power And Control Cable Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Power And Control Cable competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Power And Control Cable
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power And Control Cable market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power And Control Cable market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Prysmian Group - Italy, Nexans - France, General Cable - United States, Southwire - United States, LS Cable & System - South Korea, Furukawa Electric - Japan, Sumitomo Electric Industries - Japan, Belden Inc. - United States, Lapp Group - Germany, Leoni AG - Germany, ABB Group - Switzerland, Encore Wire Corporation - United States, CME Wire and Cable - United States, Cable Corporation of India - India, NKT A/S - Denmark, TPC Wire & Cable Corp. - United States, General Cable Corporation - United States, Bahra Cables Company - Saudi Arabia, Universal Cables Ltd. - India, Tratos - United Kingdom.
Primary Target Market
- Market Players of Power And Control Cable
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power And Control Cable market based on the below-mentioned segments:
Global Power And Control Cable Market, By Voltage
Low voltage
Medium voltage
High voltage cables
Global Power And Control Cable market, By Application
Energy
Construction
Automotive
Telecommunications
Global Power And Control Cable market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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