Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Power Cable Market by Distribution Type, Voltage Rating, End-use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global power cable market was valued at $148.6 billion in 2021, and is projected to reach $277.8 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031
Key factors driving the growth of the power cable market include the rise in the trend of renewable energy generation, the increase in the deployment of new power grid infrastructure, and the rise in the implementation of smart grids. In addition, there has been a sharp rise in economic activity and urbanization, which is anticipated to fuel the expansion of the infrastructure and building sectors.
The demand from a variety of industries, including commercial, residential, telecom, energy and power, and automotive, is causing the infrastructure to be modernized. Therefore, the construction of new office and residential buildings as well as the renovation of deteriorating infrastructure are predicted to propel the market positively.
For instance, the rise in the number of emerging nations is causing a shortage of infrastructure for transferring electricity; as a result, the governments of these nations are focusing on building secure grid infrastructure. In addition, the industry is growing due to the increased use of smart grids.
The complexity of planning the deployment of power lines and the length of time it takes for regulatory approvals are, however, expected to hinder market expansion during the forecast period.
Conversely, a rise in energy demand presents the profit potential for the growth of the power cable business.
Smart grids improve the profit margins of electricity distribution businesses by lowering the costs associated with traditional grids, particularly operational costs brought on by power outages. Additionally, global various government has taken a number of actions to promote the deployment of the smart grid. For instance, the New York state government, through NYSERDA, invested significantly in the innovation of smart energy technologies. The region chases to expand clean energy technologies, keep energy bills low, reduce carbon emissions, and improve grid reliability. Thus, government initiatives taken for the implementation of smart grids significantly drive the power cable market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power cable market analysis from 2021 to 2031 to identify the prevailing power cable market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights buyers' and suppliers' potency to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the power cable market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global power cable market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution Type
- Submarine
- Overhead
- Underground
By Voltage Rating
- Up to 36 kV
- 37 kV to 100 kV
- 101 kV to 250 kV
- 251 kV to 350 kV
- 351 kV and Above
By End Use
- Residential
- Commercial
- Industrial
- Utilities
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Riyadh Cables Group Company
- Prysmian Group (General Cable)
- LAPP North America
- Nexans S.A.
- Brugg Cables
- NKT A/S
- FINOLEX CABLES LIMITED
- Encore Wire Corporation
- Polycab India Ltd
- KEI Industries Ltd.
- TPC Wire & Cable Corp
- ABB Ltd
- Belden Incorporated
Key Market Insights
- By distribution type, the submarine and underground segments collectively accounted for around 90.41% market share in 2021.
- The up to 36 k
- V segment was the highest revenue contributor with $16,616.77 million in 2021 and is estimated to reach $24,553.7 million by 2031, with a CAGR of 3.9%.
- The industrial and utilities segments are expected to witness considerable CAGRs of 5.9% and 5.3%, respectively, during the forecast period.
- Based on region, Mexico and Canada are expected to witness considerable CAGRs of 6.5% and 5.4%, respectively, during the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 270 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $148.6 billion |
| Forecasted Market Value (USD) by 2031 | $277.8 billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POWER CABLE MARKET, BY DISTRIBUTION TYPE
4.1 Overview
4.2. Underground
4.3. Submarine
4.4. Overhead
CHAPTER 5: POWER CABLE MARKET, BY VOLTAGE RATING
5.1 Overview
5.2. Up to 36 kV
5.3. 37 kV to 100 kV
5.4. 101 kV to 250 kV
5.5. 251 kV to 350 kV
5.6. 351 kV and Above
CHAPTER 6: POWER CABLE MARKET, BY END USE
6.1 Overview
6.2. Residential
6.3. Commercial
6.4. Industrial
6.5. Utilities
CHAPTER 7: POWER CABLE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/ucyrf3
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