Power and Control Cable Market Analysis | 2023-2028

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.

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Market Dynamics

Introduction

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.

Market Drivers

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.

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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.

Note: The above list does not necessarily include all the top players in the market.

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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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s power and control cable market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The power and control cable 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)

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.