Reports

Global Power Cables Market to be Aided by the Projected Global Cables Market Growth at a CAGR of 4.10% between 2022 and 2027

Power Cables Market

Global Power Cables Market Size, Share, Trends, Forecast: By Material: Aluminium, Copper; By Voltage: Low Voltage; Medium Voltage; High Voltage; By Application: Power Transmission, Utilities, Telecommunication, Infrastructure, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Power Cables Market Outlook

The global power cables market is expected to grow from USD 130.6 billion in 2023. The market is expected to further grow at a CAGR of 6.4% between 2024 and 2032 to attain USD 189.5 billion by 2032.

Power Cables Market

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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.

 

Market Segmentation

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 Cables Market By Segments

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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.

 

Market Analysis

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.

 

Power Cables Market By Region

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Competitive Landscape

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:

  • Prysmian Group
  • Nexans S.A.
  • Belden Inc. 
  • Sumitomo Electric Industries, Ltd
  • Furukawa Electric Co., Ltd
  • LS Cable & System Ltd.
  • KEI Industries Ltd.
  • The Okonite Company Inc.
  • International Wire Group
  • Hitachi Metals, Ltd.

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.

 

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Material, Voltage, Application, Region
Breakup by Material Aluminium, Copper
Breakup by Voltage Low Voltage, Medium Voltage, High Voltage
Breakup by Application Power Transmission, Utilities, Telecommunication, Infrastructure, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Prysmian Group, Nexans Group, Belden Inc., Sumitomo Electric Industries, Nexans S.A., Furukawa Electric Co., Ltd, LS Cables & System Ltd., KEI Industries Ltd., The Okonite Company Inc., International Wire Group, Hitachi Metals, Ltd, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Power Cables Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Power Cables Historical Market (2018-2023) 
    8.3    Global Power Cables Market Forecast (2024-2032)
    8.4    Global Power Cables Market by Material
        8.4.1    Aluminium
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Copper
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Power Cables Market by Voltage
        8.5.1    Low Voltage
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Medium Voltage
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    High Voltage
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Power Cables Market by Application
        8.6.1    Power Transmission
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Utilities
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Telecommunication
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Infrastructure
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others   
    8.7    Global Power Cables Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Power Cables Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Power Cables Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Power Cables Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America  Power Cables Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and  Africa Power Cables Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data  Analysis (HS Code: 8455)
    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Prysmian Group
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    LS Cable & System Ltd.
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    KEI Industries Limited
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    The Okonite Company
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Hitachi Metals, Ltd.
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Belden Inc.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Sumitomo Electric Industries, Ltd.
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Furukawa Electric Co., Ltd.
            17.2.8.1    Company Overview
            17.2.8.2    Product Portfolio
            17.2.8.3    Demographic Reach and Achievements
            17.2.8.4    Certifications
        17.2.9    International Wire Group, Inc.
            17.2.9.1    Company Overview
            17.2.9.2    Product Portfolio
            17.2.9.3    Demographic Reach and Achievements
            17.2.9.4    Certifications
        17.2.10    Nexans S.A.
            17.2.10.1    Company Overview
            17.2.10.2    Product Portfolio
            17.2.10.3    Demographic Reach and Achievements
            17.2.10.4    Certifications
        17.3.11    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Power Cables Market: Key Industry Highlights, 2018 and 2032
2.    Global Power Cables Historical Market: Breakup by Material (USD Billion), 2018-2023
3.    Global Power Cables Market Forecast: Breakup by Material (USD Billion), 2024-2032
4.    Global Power Cables Historical Market: Breakup by Voltage (USD Billion), 2018-2023
5.    Global Power Cables Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
6.    Global Power Cables Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Power Cables Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Power Cables Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Power Cables Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Power Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Power Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Power Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Power Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Power Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Power Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Power Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Power Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Power Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Power Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Major Importing Countries by Value
21.    Major Exporting Countries by Value
22.    Major Importing Countries by Volume
23.    Major Exporting Countries by Volume
24.    Global Power Cables Market Structure

Key Questions Answered in the Report

What was the global power cables market size in 2023?

The growth of the global power cables market is aided by the growing cable market, which attained a value of nearly USD 130.6 billion in 2023.

What is the growth rate of the market?

The cable market, which is supporting the power cables market, is projected to grow at a CAGR of 6.4% between 2024 and 2032.

What are the major drivers for the market?

The major drivers of the market include rising demand for energy, increased adaptation of power transmissions, growing infrastructure projects, favourable government initiatives, and improving technology.

What are the key trends in the power cables market?

The key market trend guiding the growth of the power cables market include the adoption of smart grid technology and increase in urbanisation.

What are the major regional markets, according to the report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What materials are used in the power cables market?

The materials used in the market include aluminium and copper.

What are the major segments based on voltage in the market?

The major segments based on voltage are low voltage, medium voltage, and high voltage.

What are the significant applications of power cables?

The significant applications of the product include power transmission, utilities, telecommunication, and infrastructure, among others.

Who are the key players in the market, according to the report?

The key players in the market are Prysmian Group, Nexans Group, Belden Inc., Sumitomo Electric Industries, Nexans S.A., Furukawa Electric Co., Ltd, LS Cables & System Ltd., KEI Industries Ltd., The Okonite Company Inc., International Wire Group, and Hitachi Metals, Ltd, among others.

Analyst Review

The global power cables market is expected to grow from USD 130.6 billion in 2023 to USD 189.5 billion by 2032, growing at a CAGR of 6.4% in the forecast period of 2024-2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on material, the power cables market can be divided into aluminium and copper. On the basis of voltage, the industry can be segments into low voltage, medium voltage, and high voltage. On the basis of application, the industry can be categorised into power transmission, utilities, telecommunication, and infrastructure, among others. The major regional markets for power cables are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Prysmian Group, Nexans Group, Belden Inc., Sumitomo Electric Industries, Nexans S.A., Furukawa Electric Co., Ltd, LS Cables & System Ltd., KEI Industries Ltd., The Okonite Company Inc., International Wire Group, Hitachi Metals, Ltd, Others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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