Global Power and Control Cable Market is segmented by Product Type (Power Cable, Control Cable), by Voltage Type (HV, MV, and LV (LV Power, LV Control)), by Application Type (Utilities, Industries (Power, Oil & Gas, Cement, and Others)), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

According to this report, 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.

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.

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.

Key players

The supply chain of this market comprises raw material suppliers, fiberglass manufacturers, fabric manufacturers, Power and Control Cable equipment manufacturers, distributors, and governments.

The key Power and Control Cable equipment 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.

Segment Analysis

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.

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.

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.

The report will help you find answers to these questions -

What are the key trends in the Power and Control Cable Market?

How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?

What is the impact of COVID-19 on the Power and Control Cable Market?

What are the key strategies adopted by the major vendors to lead in the global Power and Control Cable Market?

What is the market share of the top vendors?

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