Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Americas Cables Market by Polymer and Insulation Type (Semiconducting polymer, XLPE, EPR, HEPR, low Voltage Cables), Semiconducting Layer (Inner & Outer Semiconducting layer), Application, Voltage, End User & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Americas Cables market is estimated to grow from USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period. The market for cables in the Americas is expanding due to rising industry, urbanization, and infrastructure development. The need for cutting-edge cable solutions is also fueled by the growing demand for electricity, telecommunications, and renewable energy initiatives. Additionally, technological developments in the cable manufacturing industry, like the creation of smart cable systems and high-performance insulation materials, are driving market expansion.
Renewable Energy Sector segment is the fastest segment of the Americas Cables market, by end user
Based on end user, the Americas Cables market has been split into three types: industrial, renewables, and commercial. The renewables segment growth is due to the rapid expansion of renewable energy projects like as solar and wind farms. For grid connectivity and power transfer, these projects need a lot of cabling. Growth in the renewable energy sector is also driven by rising government support for green energy, technological developments, and growing demand for sustainable energy solutions. High-quality cables appropriate for renewable energy applications, such as solar and wind power installations, are in high demand due to this expansion's requirement for reliable, effective power transmission and distribution systems.
Inner Semiconducting Layer is expected to emerge as the fastest-growing segment based on semiconducting layer
Based on semiconducting layer, the Americas Cables market has been segmented into inner semiconducting layer and outer semiconducting layer. The inner semiconducting layer segment of the Americas Cables Market is expected to be the fastest-growing due to its importance in increasing cable performance and dependability. By distributing the electric field uniformly and lowering electrical stress concentrations, this layer prolongs the life of cables and lowers the possibility of insulation failure.
Underground is expected to be the largest segment based on application
Demand for underground cables is increasing in the Americas Cables Market as urbanization and infrastructure development continue. When compared to overhead wires, they have many advantages, including improved dependability, decreased environmental effect, and visual attractiveness. Subterranean cables are becoming more and more in demand due to growing urbanization initiatives and the necessity for dependable power distribution in densely populated areas. As a result, they are becoming a major factor driving market expansion.
North America is expected to emerge as the largest region based on Americas Cables market
By region, the Americas Cables market has been segmented into Asia Pacific, North America, South America, and Central America. In the region, the Americas Cables market is expanding in North America because of the region's robust industrial infrastructure, which fuels demand from sectors including manufacturing, oil and gas, and the automotive industry; industrial end-users play a major role.
Demand is also increased by the increased focus on renewable energy initiatives, especially in the US and Canada. The market is also driven by strong commercial industries like data centers and telecommunications. North America's dominance in the industry is further strengthened by the extensive usage of subterranean cables for urbanization projects and the deployment of submarine cables for offshore energy facilities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 272 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $8.7 Billion |
| Forecasted Market Value (USD) by 2029 | $10.9 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Latin America, North America |
Key Topics Covered:
Executive Summary
- Americas Cables Market Snapshot
- North America Dominated Americas Cables Market in 2023
- Semi-Conducting Polymer Cables to Account for Larger Market Share Throughout Forecast Period
- Outer Semi-Conducting Layer to Hold Larger Share of Americas Cables Market Throughout Forecast Period
- 35-46 KV Cables to Capture Largest Share of Americas Market from 2024 to 2029
- Underground Cables to Lead Americas Market Between 2024 and 2029
- Industrial Sector to Hold Largest Share of Americas Cables Market Throughout Forecast Period
Premium Insights
- Attractive Opportunities for Players in Americas Cables Market -Investments in Renewable Energy Projects to Create Opportunities for Players in Americas Cables Market
- Americas Cables Market, by Region -North America to Register Highest CAGR During Forecast Period
- North American Cables Market, by End-user and Country -Industrial Sector and US Held Largest Shares of North American Market in 2024
- Americas Cables Market, by Polymer and Insulation Type - Semi-Conducting Polymer Cables to Dominate Market in Americas in 2029
- Americas Cables Market, by Semi-Conducting Layer - Outer Semi-Conducting Layer to Account for Larger Share of Americas Cables Market in 2029
- Americas Cables Market, by End-user - Industrial Sector to Account for Largest Share of Americas Cables Market in 2029
- Americas Cables Market, by Voltage Rating -35-46 Segment to Account for Largest Share of Americas Cables Market in 2029
- Americas Cables Market, by Application - Underground Segment to Account for Larger Share of Americas Cables Market in 2029
Key Market Dynamics
Drivers
- Integration of Renewable Energy Sources into Industrial Facilities to Reduce Carbon Footprint
- Rapid Industrialization and Urbanization Across Americas
- Supportive Government Policies and Investments in Underground Cables, Grid Technologies, and Infrastructure Projects
- Pressing Need to Modernize Electrical Grids to Enhance Resilience and Reliability
Restraints
- Volatility in Raw Material Prices
- Delay in Project Authorization Process due to Complex Regulatory and Environmental Policies
Opportunities
- Strong Focus on Increasing Power Generation Capacity
- Adoption of Smart Grid Technologies and Development of Innovative Cable Solutions
Challenges
- Requirement for Technical Know-How to Develop and Install Advanced Cable Products
- Availability of Low-Cost Cable Solutions
Technology Analysis
- Core Technology
- High-Temperature Superconducting (HTS) Cables
- Self-Healing Cables
- Complimentary Technology
- Smart Grid Solutions
- Advanced Insulation Materials
- Adjacent Technology
- Monitoring and Control Systems
Case Study Analysis
- Brugg Cables Provided Cables and Accessories for Power Supply Projects During Beijing Olympic Games in China
- US Department of Energy Invested in Grid Modernization Technologies to Safeguard Energy Infrastructure
- North Sea Link Connected Electricity Grids of Norway and United Kingdom Via Subsea Power Cable
Companies Profiled
- Prysmian Group
- Southwire Company
- Nexans
- LS Cable & System
- NKT
- Amphenol TPC
- Belden
- Leoni
- Bizlink Group
- Sumitomo Electric Industries
- The Okonite Company
- Tfkable
- Tratos
- ZTT
- Helukabel Group
- Dow
- Furukawa Electric
- Zhejiang Wanma
- Hanwha Group
- Trelleborg Group
- Borealis
- Avient Corporation
- Saco Aei Polymers
- Hj Polymer China
- Wtec Energy Innovation
- Pramkor
- Electric Cable Compounds
- Mixer S.P.A.
For more information about this report visit https://www.researchandmarkets.com/r/8zbdgg
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