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Asia Pacific Power and Control Cable Market Trends

Report ID: GMI7356
Published Date: Nov 2023
Report Format: PDF

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Asia Pacific Power and Control Cable Market Trends

The rapid advancement of digitalization and the increasing adoption of intelligent artificial intelligence systems have left a significant mark on the region. While some industries have managed to evade the sweeping changes brought about by digitalization, the electricity sector has largely remained on the periphery of this transformation. Investments in information technology (IT) within the power sector have been somewhat restrained, with major players primarily focused on expanding their capacity within their respective domains. Nevertheless, this trend is gradually evolving due to rising consumer demand for interactive and intelligent services. There is a discernible shift towards the integration of IT into the electricity sector, which is set to substantially facilitate the deployment of smart grids.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of Asia Pacific power and control cable was worth USD 53.6 billion in 2022 and is poised to expand at 7.7% CAGR from 2023 to 2032, attributed to the surge in purchasing power parity (PPP) in the last ten years across the region.

The power and control cable market from the power cable segment accounted for more than USD 44.8 billion in 2022 and is likely to record significant growth through 2032, owing to their widespread application in the broader wires and cables industry due to their extensive use in networks with lower-rated capacities.

China power and control cable market held more than 33.2% revenue share in 2022 and is estimated to expand at a notable growth rate through 2032, driven by the ongoing investment in infrastructure projects, including transportation, utilities, and urban development.

The major companies engaged in the power and control cable industry are Prysmian Group, KEC International Ltd., Southwire Company LLC, Nexans, Belden Inc., Bergen Cable Technology, FURUKAWA ELECTRIC CO., LTD., LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., Ducab, Klaus Faber AG, Encore Wire Corporation, The Okonite Company, and Marmon Holdings, Inc., among others.