The global power cables market size stood at USD 168.28 billion in 2019 and is projected to reach USD 272.88 billion by 2027, exhibiting a CAGR of 6.8% during the forecast period.
The global power cables market size is projected to reach USD 272.88 billion by the end of 2027. The increasing demand for energy and power across the world will lead to a wider product adoption. According to a report published by Fortune Business Insights, titled “Power Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground and Submarine) By Cable Type (Low Voltage Cable, Medium Voltage Cable, High Voltage Cable), By Voltage (Up to 240V, 240V-1kV, 1kV-15kV, 15kV-100kV, 100kV-250kV, Above 250kV), By Application (Residential, Commercial, Industrial and Utility), and Regional Forecast, 2020-2027,” the market was worth USD 168.28 billion in 2019 and will exhibit a CAGR of 6.8% during the forecast period, 2020-2027.
For Power Cables Industry Growth, Opportunity: https://www.fortunebusinessinsights.com/power-cables-market-102405
A power cable is used in transmission of electrical energy in several applications. The increasing demand for these products is attributable to the growing applications across diverse industries. The presence of several large scale power cable manufacturers, coupled with the variations in product offerings, will have a positive impact on the growth of the market in the coming years.
Increasing Number of Company Mergers Will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. The high investment in the deployment of solar and wind projects and the role of power cables in these projects is a primary reason why companies are collaborating with vendors.
Asia Pacific to Account for the Highest Share; Rising Demand for Electricity in Several Countries to Aid Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The rising population and the increasing demand for power and energy will lead to a wider product adoption.
Complete Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
List of companies profiled in the report:
- Prysmian Group (Italy)
- ABB (Switzerland)
- Nexans (France)
- General Cable (US)
- NKT Cables(Denmark)
- Encore Wire Corporation (US)
- Finolex Cables (India)
- Bahra Cables Company(Saudi Arabia)
Industry Developments:
April 2020: LS Cable & System announced that it has secured a contract from Netherlands based TeneT for the supply of submarine cables. The contract is worth 100.74 million Euros.
For more information in the analysis of this report:
https://www.fortunebusinessinsights.com/power-cables-market-102405
About Us:
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.