• Blog
  • Power and Control Cable Market Forecast Analysis | 2023-2028

    Power and Control Cable Market Forecast Analysis | 2023-2028

    Power and Control Cable Market Forecast Analysis | 2023-2028
    Report code - SRCG144 Delivery - 2 Weeks
    Power and Control Cable Market Size, Share, Trend, Forecast, & Growth Analysis- 2023-2 See more...

    Market Insights

    The power and control cable market was estimated at USD 125.5 billion in 2022 and is likely to grow at a CAGR of 6.78% during 2023-2028 to reach USD 186.75 billion in 2028.

    Power-And-Control-Cable-Market-Insights

    Want to know more about the market scope? Register Here

    What are power and control cables?

    Power and control cables are energy transfer systems that are used for transmitting high and low power from a source to equipment. Power cables are used to transfer energy from a source to equipment, whereas control cables are used to send signals to control the functioning of equipment. Power and control cables are majorly used in industrial, commercial, and electrical utilities with a range of applications, and are composed of protective jackets, conductors, and insulators to offer high resistance to heat, fire, and moisture.

    Power And Control Cable Market Highlights

    Market Size in 2022

    USD 125.5 billion

    Market Size in 2028

    USD 186.75 billion

    Market Growth (2023-2028)

    6.78% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    The prime factor that is contributing to the demand for power and control cables is mainly the ongoing investments in electricity infrastructure. The integration of renewable energy networks has further increased the focus on the restructuring of the present electrical infrastructure. Increasing sustainable energy and improvements in IoT power monitoring systems, along with a growing inclination towards smart grid infrastructure are likely to create a sustainable demand for the power and control cable market.

    Power-And-Control-Cable-Market-Dynamics

    Want to have a closer look at this market report? Click Here

    Segments Analysis

    By Product Type

    Based on the product type, the market is segmented as power cable and control cable. The power cable segment held the larger share of the market in 2022 and is expected to register faster growth during the forecast period. The segment is mainly driven by its wide penetration across medium voltage and grid integration projects.

    By Voltage Type

    Based on the voltage type, the power and control cable market is segmented as high voltage (HV), medium voltage (MV), and low voltage (LV). The low voltage (LV) segment dominates the market, owing to the growing inclination of manufacturers towards internal wiring applications & secondary power distribution. Further, strengthening and expanding of distribution network with the rising demand for electricity from renewable energy is likely to create a healthy demand in the power and control cable market.

    Regional Insights

    In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the ongoing investments in the expansion of UHV and EHV networks, expansion of communication, railways, and energy sectors, and increasing investments in R&D.

    Power-And-Control-Cable-Market-Regional-Insights

    Know the high-growth countries in this report. Register Here

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Product Type

    • Power Cable
    • Control Cable

    By Voltage Type

    • HV
    • MV
    • LV

    By Application Type

    • Utilities
    • Industries

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Power-And-Control-Cable-Market-Segmentation

    Click Here, to know the market segmentation details.

    Key Players

    Some of the major power and control cable manufacturers are-

    • Prysmian Group
    • Nexans S.A.
    • Polycab India Limited
    • NKT A/S
    • DUCAB (Dubai Cable Co Pvt Ltd.)
    • KEI Industries
    • LS Cable & System Ltd.
    • Sumitomo Electric Industries, Ltd.
    • Belden Incorporated
    • Furukawa Electric Co., Ltd.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Power And Control Cable  Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by voltage type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Power and control cables are energy transfer systems that are used for transmitting high and low power from a source to equipment. Power cables are used to transfer energy from a source to equipment, whereas control cables are used to send signals to control the functioning of equipment. Power and control cables are majorly used in industrial, commercial, and electrical utilities with a range of applications, and are composed of protective jackets, conductors, and insulators to offer high resistance to heat, fire, and moisture.

    The power and control cable market was estimated at USD 125.5 billion in 2022.

    The power and control cable market is likely to reach USD 186.75 billion in 2028.

    The power and control cable market is expected to witness an impressive growth of 6.78% CAGR in the foreseeable future.

    Prysmian Group, Nexans S.A., Polycab India Limited, NKT A/S, DUCAB (Dubai Cable Co Pvt Ltd.), KEI Industries, LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., Belden Incorporated, and Furukawa Electric Co., Ltd are among the key players in the market.

    Asia-Pacific is expected to remain the largest market for power and control cables during the next five years.

    The power cable segment is expected to register faster growth in the market in the coming years.