Mining Cables Trends and Forecast
The future of the global mining cables market looks promising with opportunities in the underground mining and surface mining markets. The global mining cables market is expected to reach an estimated $14.7 billion by 2030 with a CAGR of 2.8% from 2024 to 2030. The major drivers for this market are growing demand for various end use industries to help the mining cable businesses, growth in the market for metals and minerals, along with the increasing emphasis in mining operations on automation and technical improvements.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Mining Cables by Segment
The study includes a forecast for the global mining cables by type, application, and region.
Mining Cables Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Type W
• Type G-GC
• Type SHD-GC
• Type MP-GC
• Others
Mining Cables Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Underground Mining
• Surface Mining
Mining Cables Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Mining Cables Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies mining cables companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the mining cables companies profiled in this report include-
• Southwire
• General Cable
• Priority Wire & Cable
• Chint Group
• Nexans
• Viakon
• Metric Cables
• Prysmian Group
• Baosheng Group
• Caledonian-Cables
Mining Cables Market Insights
Lucintel forecasts that Type W is expected to witness highest growth over the forecast period because it is used as a source of portable electricity and are resilient to mechanical, water, and oil damage.
Within this market, underground mining will remain the larger segment over the forecast period because the cables ensure smooth functioning in the cramped space by supplying power and communication for a variety of machinery and equipment.
North America is expected to witness largest region over the forecast period because of increased demand for cables with improved durability, fire resistance, and chemical resistance is being driven by the increased emphasis on safety in mining activities in this region.
Features of the Global Mining Cables Market
Market Size Estimates: Mining cables market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Mining cables market size by type, application, and region in terms of value ($B).
Regional Analysis: Mining cables market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the mining cables market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the mining cables market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the mining cables market size?
Answer: The global mining cables market is expected to reach an estimated $14.7 billion by 2030.
Q.2 What is the growth forecast for mining cables market?
Answer: The global mining cables market is expected to grow with a CAGR of 2.8% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the mining cables market?
Answer: The major drivers for this market are growing demand for various end use industries to help the mining cable businesses, growth in the market for metals and minerals, along with the increasing emphasis in mining operations on automation and technical improvements.
Q4. What are the major segments for mining cables market?
Answer: The future of the global mining cables market looks promising with opportunities in the underground mining and surface mining markets.
Q5. Who are the key mining cables market companies?
Answer: Some of the key mining cables companies are as follows:
• Southwire
• General Cable
• Priority Wire & Cable
• Chint Group
• Nexans
• Viakon
• Metric Cables
• Prysmian Group
• Baosheng Group
• Caledonian-Cables
Q6. Which mining cables market segment will be the largest in future?
Answer: Lucintel forecasts that Type W is expected to witness highest growth over the forecast period because it is used as a source of portable electricity and are resilient to mechanical, water, and oil damage.
Q7. In mining cables market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness largest region over the forecast period because of increased demand for cables with improved durability, fire resistance, and chemical resistance is being driven by the increased emphasis on safety in mining activities in this region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the mining cables market by type (Type W, Type G-GC, Type SHD-GC, Type MP-GC, and others), application (underground mining and surface mining), 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 region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of 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 key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Mining Cables Market, Mining Cables Market Size, Mining Cables Market Growth, Mining Cables Market Analysis, Mining Cables Market Report, Mining Cables Market Share, Mining Cables Market Trends, Mining Cables Market Forecast, Mining Cables Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.