The global power cable market is anticipated to grow at a CAGR of around % during the forecast period (2021-2027). Asia-Pacific region is creating significant scope for the power cable market owing to the installation of new renewable power generation plants. The region has high population base along with high consumption of power. With 4.4 billion people living in 58 markets, ranging from the world’s largest energy consumer to small island economies. The region accounts for more than half of global energy consumption, with 85% of that regional consumption coming from fossil fuels. The region’s renewables (wind and solar) generation investments could double to $1.3 trillion over the current decade to 2030 compared to the previous decade (2011 – 2020). The government in major economies of the region is planning to increase their renewable generating capacity, which in turn expected to increase the installation of power grid systems with high demand for power cables. For instance, as per the IEA, the government plans to increase renewable generating capacity from 175 GW in 2022 to 450 GW in 2030.
Browse the full report description of “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” at https://www.omrglobal.com/industry-reports/power-cable-market
Moreover, the rise of low-cost wind and solar power, deployment of distributed energy resources (DER) and increasing digitalization are accelerating change in power systems in China. As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Apart from these, in 2019, China's hydropower capacity reached 356 GW. China's installed capacity of solar power reached 252 GW and wind power capacity was 282 GW, as of 2020. This has increased the demand for power cables.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Installation Type
o By Voltage
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape-
• Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Power Cable Market Report Segment
• Global Power Cable Market, By Installation type
o Overhead
o Underground
o Submarine
• Global Power Cable Market, By Voltage
o Up to 240V
o 240V-1kV
o 1kV-15kV
o 15kV-100kV
o 100kV-250kV
o and above 250kV
• Global Power Cable Market, By Application
o Ground photovoltaic power generation
o Thermal power generation
o Nuclear power generation
o Offshore wind power generation
• Global Power Cable Market, By End-User
o Commercial
o Industrial
o Utilities
Global Power Cable Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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