Power Cable Market Revenue to close at USD 274.20 BN By 2027
Posted On May 05, 2021
The Global Power Cable Market is foreseen to grow at a remarkable CAGR of 9% during the year 2021-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 274.20 BN by 2027. The escalating demand for power and electricity becoming one of the necessities of any ordinary person are the primary driving forces for the power cable market. The extensive use of Flexible cables in portable devices, mobile tools, and household machinery will enhance the market growth. The heightened investments in the renewable sector and the implementation of smart grids worldwide will benefit market growth. Raising deployment of energy harnessing projects and infrastructure development activities across the globe will further propel market growth. Various policies rolled out by government agencies for efficient generation, and energy distribution will be a market booster. The fluctuating price of raw materials used and the need for meticulous planning in installing power cables are few challenges hampering the market growth.
A power cable is an electric cable used for bulk transmission of alternating or direct current. It consists of one or more electrical conductors that are held together by a sheath. Power cables are installed as permanent wiring inside buildings, run overhead, buried in the ground, or exposed. Modern power cables come in many sizes, materials, and types, adapted to their specific use. These cables are generally flexible, enabling easy shipping to installation sites by wounding them on reels, drums, or hand coils. Hybrid power cables include optical fibers for data. Each layer of material used in a cable has a specific effect like providing the right level of current conductivity, insulation, protection from mechanical, thermal, environmental conditions.
The geographical and segmentation study covered in the report "Global Power Cable Market Report By Installation (Overhead, Underground, Submarine), By Voltage (Up to 240V, 240V – 1kV, 1kV – 15kV, 15kV – 100kV, 100kV – 250kV, Above 250kV), By End-User (Residential, Commercial, Industrial, Utility) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
On the basis of installation the market is segmented into Overhead, Underground, Submarine. By voltage the power cable market is categorised as Up to 240V, 240V – 1kV, 1kV – 15kV, 15kV – 100kV, 100kV – 250kV, Above 250kV. By end-user the power cable market is categorised as Residential, Commercial, Industrial, Utility. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.
The Report Segments Global Power Cable Market -
- Up to 240V
- 240V – 1kV
- 1kV – 15kV
- 15kV – 100kV
- 100kV – 250kV
- Above 250kV
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Prysmian Group, General Cable Technologies Corporation, Nexans SA, Sumitomo Electric Industries Ltd., NKT AS, Fujikura Ltd., LS Cable & System, Encore Wire Corporation, Southwire Company LLC, Elmeridge Cables Limited, Furukawa Electric Ltd., and Others.
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