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DC Solar Cable Market Trends

Report ID: GMI8305
Published Date: Feb 2024
Report Format: PDF

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DC Solar Cable Market Trends

The DC solar cable industry reflect a significant growth owing to the increasing demand for efficient and sustainable energy solutions. Advancements in technology have led to the development of cables with enhanced performance, reduced energy losses, and improved safety features. Increasing installations of solar photovoltaic systems globally will contribute to the upward trajectory of the solar installations.

For instance, in October 2023, the Solar Energy Corporation of India (SECI) launched a tender in the Indian market to develop about one gigawatt of interstate transmission grid-connected solar projects. The solar projects to be developed will witness the signing off a 25-year power purchase agreement between developers and SECI. Therefore, evolving regulatory standards and a push towards smart grid infrastructure further influence the market dynamics.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of DC solar cable was reached USD 2.7 billion in 2023 and is expected to register 8.6% CAGR through, 2032 owing to increasing adoption of solar energy and growing emphasis on sustainable and clean energy sources worldwide.

DC solar cable market from the copper segment recorded over 90% share in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to its superior conductivity, low resistivity, and excellent corrosion resistance.

Asia Pacific DC solar cable industry crossed USD 3 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to burgeoning demand for renewable energy and rapid infrastructure development in the region.

ABB, Allied Wire & Cable, Alpha Wire, Belden Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., General Cable, Havells, Hellenic Group, Helukabel, Kabelwerk Eupen AG., and KEI Industries, are some of the major DC solar cable companies worldwide.