According to a new market report published by Lucintel, the future of the energy cable market looks attractive with opportunities in the utilities, industrial, residential, and commercial sectors. The global energy cable market is expected to reach an estimated $69 billion by 2027 with a CAGR of 5.1% from 2021 to 2027. The major drivers for this market are growth in electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.
In this market, low voltage, medium voltage, and high voltage power cables are used for the transmission and distribution of electricity. Lucintel forecasts that low voltage cable is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to growth in construction especially in China and India.
Within the energy cable market, utilities are expected to remain the largest end use market due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand. The residential segment is expected to witness the highest growth in the forecast period supported by increasing construction activities and increasing demand for heating, cooling, and air-conditioning (HVAC) equipment.
Asia Pacific is expected to remain the largest market over the forecast period due toe conomic expansion, industrialization, urbanization, and rural electrification projects, particularly in India and China, are leading the demand for energy cables.
Prysmian Group, Nexans S.A., Leoni AG, NKT S/A, Sumitomo Electric Industries Ltd, Encore Wire Corporation, and Southwire are among the major suppliers of energy cable.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global power cable market by voltage type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Power Cable Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global power cable market by voltage type, end use industry, and region as follows:
By Voltage Type [$M shipment analysis for 2016 – 2027]:
· Low Voltage
· Medium Voltage
· High Voltage
By End Use Industries Market [$M shipment analysis for 2016 – 2027]:
· Utilities
· Industrial
· Residential
· Commercial
By Region [Value ($M) shipment analysis for 2016 – 2027]:
·North America
− US
− Canada
− Mexico
·Europe
− Germany
− The United Kingdom
− France
− Italy
·Asia Pacific
− China
− Japan
− India
− South Korea
- The Rest of the World
Browse 68 market data tables and 107 figures spread through 205 pages and in-depth TOC on “Market"
To download report brochure, please go to https://www.lucintel.com/ and click "report brochure" tab from the menu. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/power-cable-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global power cable market by voltage type (low voltage cables, medium voltage cables, and high voltage cables), end use industry (utilities, industrial, residential, and commercial), installation (overhead, underground, and submarine), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?