Global Power Cables Market Key Insights:
The global power cables market is expected to be driven by a growing cable industry, as a whole. The global cables market was valued at nearly USD 144 billion in 2018. The cable market, excluding winding wires, is expected to grow further in the forecast period of 2019-2024 at a CAGR of 4% to attain USD 183 billion in 2024.
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The cables market is currently led by the Asia Pacific region which accounts for about half the global cables market. The Asia Pacific cable industry is the fastest growing regional market. In North America, the consumption of optical fibre is witnessing an expanding application.
The cable industry is dominated by cables for power/ energy transmission and telecommunication applications. Cables for application in the energy sector lead the industry, accounting for three-fourth of the market, followed by telecom cables, which accounted for over a fifth of the market. With energy cables as the major cables type being consumed, the growing energy sector becomes the principal driver for the global power cables market. The electricity demand in 2018 grew by nearly twice as fast as compared to the overall demand for energy globally. It was the fastest growth of electricity demand since 2010, with demand rising by 4% in 2018. In 2018, the global power consumption stood at about 22,572 TWh. The power consumption is projected to rise in the coming years and will reach 26,330 TWh in 2024. China and the United States were the largest power markets and accounted for 70% of the global demand growth.
Properties and Applications
Power cables are electrical cables constituting of one or more electrical conductors which are held by an overall sheath. They are primarily used for electrical power transmission. Power cables are installed within buildings as a part of the permanent wirings, or ran overhead or buried underground. They can be divided into aluminium and copper cables. By voltage, they can be categorised as:
Power transmission, utilities, telecommunication, and infrastructure, among others are the major application sector for power cables. The EMR report also provides an insight into the regional power cables industries like North America, Europe, Middle East and Africa, LATAM, and Asia Pacific markets.
The global power cables market is being driven by the rapidly growing population combined by an increase in urbanisation. While population is expected to witness a 20% growth by 2030 from 2014, urbanization is also expected to grow by 40% in the same period. With a growth in the global economy, infrastructure projects is expected to witness a rise, aiding the global power cables market. The growing urbanisation will also lead to a greater need for city electrification which will further add to the industry growth. The shift towards underground cables supported by various government initiatives will further aid the global power cables market. The industry is also being driven by the continuing maintenance of grid, and replacement of old infrastructure.
Global initiatives like various government schemes encouraging the use of green energy sources combined with the fast expansion of renewable and sustainable energy resources will also lead to the increase in the demand for power cables. Power cables are used extensively in interconnector and offshore wind projects where high voltage power cables are used to transfer large volumes of power. With the expansion of green energy projects, the associated requirement of grid extension and grid reinforcement will also aid the market globally. The displacement of electricity production with the production plants located at a greater distance from the consumption area will drive the industry growth further.
Growing demand from emerging economies will propel the industry forward in the forecast period. In Europe, the markets in Eastern European countries is expected to see a faster growth as compared to developed and mature markets like Denmark, Germany, and Sweden.
The report analyses the following key players in the global power cables market, looking into their capacity, market share, and latest developments like mergers and acquisitions, expansions of capacity, and plant turnarounds:
The EMR report gives an in-depth look into the global power cables market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces.
2 Research Methodology
3 Executive Summary
3.1 Market Overview
3.2 Key Demand Drivers
3.3 Key Players
3.4 Supply Market Changes
4 Global Power Cables Market Outlook
5 Global Power Cables Market
5.1 Global Power Cables Market Analysis
5.1.1 Figure: Global Power Cables Historical Market (2014-2018) & Forecast (2019-2024)
5.1.2 Chart: Breakup by Material
5.1.3 Figure: Breakup by Material: Historical Market (2014-2018) & Forecast (2019-2024)
5.1.4 Figure: Breakup by Voltage
220.127.116.11 Low Voltage
18.104.22.168 Medium Voltage
22.214.171.124 High Voltage
5.1.5 Figure: Breakup by Voltage: Historical Market (2014-2018) & Forecast (2019-2024)
126.96.36.199 Low Voltage
188.8.131.52 Medium Voltage
184.108.40.206 High Voltage
5.1.6 Chart: Breakup by Application
220.127.116.11 Power Transmission
5.1.7 Figure: Breakup by Application: Historical Market (2014-2018) & Forecast (2019-2024)
18.104.22.168 Power Transmission
5.1.8 Chart: Breakup by Region
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Middle East & Africa
5.1.9 Figure: Breakup by Region: Historical Market (2014-2018) & Forecast (2019-2024)
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Middle East & Africa
5.2 SWOT Analysis
5.3 Value Chain Analysis
5.4 Porter’s Five Forces Analysis
5.4.2 Buyer’s Power
5.4.3 Supplier’s power
5.4.4 New Entrants
5.4.5 Degree of Rivalry
5.5 Global Trade Analysis – Aluminium and Copper Wires (2018)
5.5.1 Major Exporting Countries by Value & Volume (HS Code: 7605, 7408)
5.5.2 Major Importing Countries by Value & Volume (HS Code: 7605, 7408)
5.6 Regional Price Analysis: Power Cables Price Trends
5.6.1 North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.2 Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.3 Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.4 LATAM Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.5 Middle East & Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
6 Competitive Landscape & Supplier Analysis
6.1 General Cables (Prysmian Group)
6.2 Nexans Group
6.3 Belden Inc.
6.4 Sumitomo Electric Industries, Ltd
6.5 Furukawa Electric Co., Ltd
6.6 LS Cables & System Ltd.
6.7 KEI Industries Ltd.
6.8 The Okonite Company Inc.
6.9 International Wire Group
6.10 Hitachi Cables, Ltd
7 Events and Developments
Additional Customisations Available:
8 Manufacturing Process
8.1 Detailed Process Flow
8.2 Operations Involved
8.3 Mass Balance
9 Cost Analysis
9.1 Land, Location and Site Development
9.3 Plant Machinery
9.4 Cost of Raw Material
9.9 Other Capital Investment
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