Power Cable Market
Global Power Cable Market Size, Share & Trends Analysis Report By Installation type (Overhead, Underground, and Submarine) By Voltage (Up To 240v, 240v-1kv, 1kv-15kv, 15kv-100kv, 100kv-250kv, and above 250kv) By Application (Ground Photovoltaic Power Generation, Thermal Power Generation, Nuclear Power Generation, Offshore Wind Power Generation) By End-User (Residential, Commercial, Industrial, and Utilities) Forecast 2021-2027 Update Available - Forecast 2024-2030
The global power cable market is anticipated to grow at a CAGR during the forecast period (2021-2027). The major factors contributing to the growth of the power cable market include rising trends of renewable energy generation globally, supportive government initiatives to increase renewable energy sources, and rapid growth in new power grid infrastructure to generate and transfer electricity. Increasing investments in renewable energy projects by the government in major economies driving the huge scope for power cables. As per the IEA, in 2021, annual global energy investment is set to rise to $1.9 trillion, rebounding nearly 10% from 2020. Moreover, the growing energy demand globally is also the prominent factor enhancing the overall market growth. it is expected that, the global energy demand is set to increase by 4.6% in 2021, more than offsetting the 4% contraction in 2020, according to the latest IEA estimates. Apart from these, in China, by 2030, one-fifth of the country’s electricity consumption is forecasted to come from non-fossil fuel sources. China’s National Energy Administration (NEA) and the National Development and Reform Commission (NDRC) also plan to spend more than $360 billion developing renewable energy. This will lead to the high installation of power cables to generate electricity.
Furthermore, the complexity in deployment planning of power cable along with the delays in authorization from governments may hamper growth of the market during forecast period. Besides, the advancements in sustainable energy development are expected to offer lucrative growth opportunities to the market.
Impact of COVID-19 on Global Power Cable Market
The power cable market has registered a decline in growth due to the COVID-19 pandemic. Safety regulations and mobility restrictions imposed by the government in major economies disrupted the supply chain and temporarily delayed construction of renewable energy installations – especially onshore wind and solar PV – in key markets resulting declination in market growth. According to the IEA, global renewable electricity capacity additions were over 11% lower in the first half of 2020 than in the first six months of 2019. China was the primary raw material supplier and with huge power grid installation, as provincial Covid?19 movement restrictions and related labor shortages reduced construction activity throughout the country. As a result, new wind installations in China declined by 50% and solar PV by 25% in the first three months of 2020.
Segmental Outlook
The global power cable market is segmented based on installation type, voltage, application, and end-user. On the basis of installation type, the market is sub-segmented into overhead, underground, and submarine. Based on voltage, the market is sub-categorized into up to 240v, 240v-1kv, 1kv-15kv, 15kv-100kv, 100kv-250kv, and above 250kv. Moreover, on the basis of application, the market is further analyzed into ground photovoltaic power generation, thermal power generation, nuclear power generation, and offshore wind power generation. On the basis of end-user, the market is again sub-segmented into residential, commercial, industrial, and utilities.
Global Power Cable Market Share by Installation Type, 2020 (%)
Submarine Power Cables Hold Significant Share in the Global Power Cable Market
Based on installation type, the submarine power cable segment is projected to gain significant share in the market during the forecast period. The addition of new offshore wind capacity, increasing demand for grid interconnects and island connections, and demand from the offshore oil and gas sector are driving the growth of the submarine power cable market. Submarine cable are being used for the transportation of power between stats and countries. The advent of offshore renewable energy requires export cables from wind , wave and tidal installations are needed to bring the renewable energy ashore. Offshore wind energy system installation in major economies will increase the demand for submarine power cables. According to the International Energy Agency (IEA), offshore wind could become the number one source of power generation in Europe by 2042. Scaling up from 20 GW today to 450 GW by 2050.
Regional Outlook
Geographically, the global Power Cable market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America is likely to show notable growth in the market during the forecast period. Increase in adoption of renewable energy, replacement of traditional grid infrastructure to new grid systems, and huge electricity generation from renewable energy sources driving the installation of grid systems along with power cables. Europe accounts for the second largest share in the global power cable market and is expected to witness significant growth during the forecast period.
Global Power Cable Market Growth, By Region 2021-2027
Asia-Pacific Predicated to grow at fastest CAGR in global power cable market
Geographically, Asia-Pacific accounted for a major share of the global market in 2020 and is expected to dominate the market in terms of revenue during the forecast period. The regional growth is attributed to the significant contribution of major economies such as China, India, Japan, and rest of the world to the market growth. Apart from these, presence of leading manufacturers of power cables in the region, huge investment by the government for renewable energy propjets developments and increasing energy consumption due to huge population base are also the factors for the market growth. India is generating more and more energy from solar plants and wind energy which in turn, increasing the demand for power cables for the distribution of electricity generated from such sources. The Government of India has set a target of installing of installing 175 GW of renewable energy capacity by the year 2022, which includes 100 GW from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro-power. This is expected to create significant scope for the market growth in India during the forecast period.
Market Players Outlook
The key players in the Power Cable market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Belden Inc., Brugg Kabel AG, Encore Wire Corp, Finolex Cables Ltd., General Cable Technology Corp, KEI Industries, Nexans S.A., NKT A/S, Polycab India Ltd., Prysmian S.P.A, Riyadh Cables Group Co., Sumitomo Electric Industries, Ltd., among others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion, and others.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Power Cable market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Power Cable Industry
• Recovery Scenario of Global Power Cable Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Trade Analysis
2.2.3. Porter’s Analysis
2.2.4. Recommendations
2.2.5. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Power Cable Market, By Installation type
5.1.1. Overhead
5.1.2. Underground
5.1.3. Submarine
5.2. Global Power Cable Market, By Voltage
5.2.1. Up to 240V
5.2.2. 240V-1kV
5.2.3. 1kV-15kV
5.2.4. 15kV-100kV
5.2.5. 100kV-250kV
5.2.6. and above 250kV
5.3. Global Power Cable Market, By Application
5.3.1. Ground photovoltaic power generation
5.3.2. Thermal power generation
5.3.3. Nuclear power generation
5.3.4. Offshore wind power generation
5.4. Global Power Cable Market, By End-User
5.4.1. Commercial
5.4.2. Industrial
5.4.3. Utilities
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East & Africa
7. Company Profiles
7.1. ABB LTD.
7.2. BAHRA CABLES CO
7.3. BELDEN INC.,
7.4. BRUGG KABEL AG
7.5. CABLE CORP.
7.6. ENCORE WIRE CORP
7.7. FINOLEX CABLES LTD.
7.8. FUJIKURA LTD.
7.9. FURUKAWA ELECTRIC CO., LTD.,
7.10. GENERAL CABLE
7.11. HENGTONG GROUP CO. LTD.
7.12. KEI INDUSTRIES
7.13. L S CABLE AND SYSTEMS LTD.
7.14. LEONI AG
7.15. NEXANS S.A.
7.16. NKT A/S
7.17. POLYCAB INDIA LTD.
7.18. PRYSMIAN S.P.A
7.19. RIYADH CABLES GROUP CO.
7.20. SOUTHWIRE CO. LLC
7.21. SUMITOMO ELECTRIC INDUSTRIES, LTD.
7.22. TPC WIRE & CABLE CORP.
1. GLOBAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2020-2027 ($ MILLION)
2. GLOBAL OVERHEAD POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL UNDERGROUND POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL SUBMARINE POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL POWDER POWER CABLE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2020-2027 ($ MILLION)
6. GLOBAL POWER CABLE UP TO 240V MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL 240V-1KV POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL 1KV-15KV POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL 15KV-100KV POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL 100KV-250KV POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL ABOVE 250KV POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
13. GLOBAL POWER CABLE IN GROUND PHOTOVOLTAIC POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL POWER CABLE IN THERMAL POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL POWER CABLE IN NUCLEAR POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL POWER CABLE IN OFFSHORE WIND POWER GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
18. GLOBAL RESIDENTIAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
19. GLOBAL COMMERCIAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
20. GLOBAL INDUSTRIAL POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
21. GLOBAL UTILITIES POWER CABLE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
22. NORTH AMERICAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
23. NORTH AMERICAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2020-2027 ($ MILLION)
24. NORTH AMERICAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2020-2027 ($ MILLION)
25. NORTH AMERICAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
26. NORTH AMERICAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
27. EUROPEAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
28. EUROPEAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2020-2027 ($ MILLION)
29. EUROPEAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2020-2027 ($ MILLION)
30. EUROPEAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
31. EUROPEAN POWER CABLE MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
32. ASIA-PACIFIC POWER CABLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
33. ASIA-PACIFIC POWER CABLE MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2020-2027 ($ MILLION)
34. ASIA-PACIFIC POWER CABLE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2020-2027 ($ MILLION)
35. ASIA-PACIFIC POWER CABLE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
36. ASIA-PACIFIC POWER CABLE MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
37. REST OF THE WORLD POWER CABLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
38. REST OF THE WORLD POWER CABLE MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2020-2027 ($ MILLION)
39. REST OF THE WORLD POWER CABLE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2020-2027 ($ MILLION)
40. REST OF THE WORLD POWER CABLE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
41. REST OF THE WORLD POWER CABLE MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL POWER CABLE MARKET, 2020-2027 (% MILLION)
2. IMPACT OF COVID-19 ON GLOBAL POWER CABLE MARKET BY SEGMENT, 2020-2027 (% MILLION)
3. RECOVERY OF GLOBAL POWER CABLE MARKET, 2020-2027 (%)
4. GLOBAL POWER CABLE MARKET SHARE BY INSTALLATION TYPE, 2020 VS 2027 (%)
5. GLOBAL POWER CABLE MARKET SHARE BY VOLTAGE, 2020 VS 2027 (%)
6. GLOBAL POWER CABLE MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
7. GLOBAL POWER CABLE MARKET SHARE BY END-USER, 2020 VS 2027 (%)
8. GLOBAL POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL OVERHEAD POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL UNDERGROUND POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL SUBMARINE POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL POWER CABLE UP TO 240V MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL 240V-1KV POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL 1KV-15KV POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL 15KV-100KV POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL 100KV-250KV POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL ABOVE 250KV POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL POWER CABLE IN GROUND PHOTOVOLTAIC POWER GENERATION MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. GLOBAL POWER CABLE IN THERMAL POWER GENERATION MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
20. GLOBAL POWER CABLE IN NUCLEAR POWER GENERATION MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
21. GLOBAL POWER CABLE IN OFFSHORE WIND POWER GENERATION MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
22. GLOBAL RESIDENTIAL POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
23. GLOBAL COMMERCIAL POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
24. GLOBAL INDUSTRIAL POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
25. GLOBAL UTILITIES POWER CABLE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
26. US POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
27. CANADA POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
28. UK POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
29. FRANCE POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
30. GERMANY POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
31. ITALY POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
32. SPAIN POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
33. REST OF EUROPE POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
34. INDIA POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
35. CHINA POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
36. JAPAN POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
37. REST OF ASIA-PACIFIC POWER CABLE MARKET SIZE, 2020-2027 ($ MILLION)
38. REST OF THE WORLD POWER CABLE MARKET SIZE, 2021-2027($ MILLION
