Europe Power and Control Cable Market
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Europe power and control cables market was valued at USD 63.3 billion in 2024 and is estimated to grow at a CAGR 7.2% from 2025 to 2034, due to the increasing demand for energy infrastructure development, renewable energy projects, and advancements in telecommunications. Rising investments in smart grids and the modernization of power transmission networks are significantly boosting the demand for high-performance wires and cables. The rapid adoption of electric vehicles (EVs) is also a key factor, as it necessitates extensive charging infrastructure, further expanding the market.
Additionally, the growth of renewable energy installations, such as wind and solar power, requires specialized cables for energy transmission and storage. Technological innovations, such as fire-resistant and high-voltage cables, cater to diverse industrial applications, enhancing market potential. Major countries like Germany, the UK, and France are spearheading infrastructure projects, creating lucrative opportunities. Moreover, stringent regulations for energy efficiency and safety compliance drive manufacturers to innovate, fostering market growth across the region.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Europe Power and Control Cable Market size in 2024: | USD 63.3 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.2 |
| 2023 Value Projection: | USD 128.5 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Product, Voltage, Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Power and control cables designed for renewable installations are in high demand, catering to the need for durable, weather-resistant, and high-performance solutions. Offshore wind farms, particularly in countries like Germany, the UK, and Denmark, are driving the adoption of specialized subsea cables. The shift toward smart grids to enhance power distribution efficiency and minimize energy loss is creating a strong demand for advanced control cables. These cables facilitate seamless communication between grid components, supporting energy monitoring, load balancing, and fault detection.
The rapid adoption of electric vehicles (EVs) across Europe is accelerating the need for robust power and control cables for EV charging stations and associated infrastructure. High-voltage cables capable of supporting fast-charging systems are increasingly preferred, aligning with the European Union's EV goals. The development of fire-resistant and high-temperature cables to ensure safety and reliability in critical applications is gaining traction. Additionally, hybrid cables that combine power and data transmission capabilities are becoming increasingly popular across sectors like utilities, telecommunications, and infrastructure.
Based on product, the power cable segment is anticipated to surpass USD 21.7 billion by 2034, since the driven by increasing investments in energy infrastructure and renewable energy projects. The rapid expansion of power grids to accommodate the growing energy demand and the integration of renewable energy sources, such as wind and solar, have significantly boosted the demand for high-quality power cables. Additionally, the modernization of aging transmission and distribution networks across the region is creating substantial opportunities for the power cable market.
Based on voltage, the low voltage segment in the Europe power and control cables market is projected to achieve a CAGR of over 5.6% through 2034, driven by increasing investments in residential and commercial construction, as well as growing demand for energy-efficient solutions. The widespread adoption of low-voltage cables in applications such as building wiring, lighting systems, and small-scale industrial equipment. The rise in urbanization and smart city projects across Europe is significantly boosting the need for low-voltage cables to power residential complexes, commercial facilities, and public infrastructure.
The France power and control cable market is projected to surpass USD 6.2 billion by 2034, due to the ongoing investments in renewable energy projects, smart grid development, and the modernization of aging electrical infrastructure. France’s strong commitment to achieving carbon neutrality by 2050 has led to a surge in renewable energy initiatives, such as wind and solar power projects, which require high-quality power and control cables for efficient energy transmission and management. Additionally, the increasing adoption of electric vehicles (EVs) in France is propelling the demand for robust charging infrastructure, further boosting the need for advanced cables capable of handling high-voltage loads.
Prysmian Group and Belden Inc. hold a prominent share of the Europe power and control cable industry, leveraging numerous strategic and operational strengths. These companies provide an extensive portfolio of power and control cables, spanning low, medium, and high-voltage options, as well as specialized cables tailored for industrial, renewable energy, and infrastructure needs. Both Prysmian and Belden are recognized for their substantial investments in research and development, enabling the creation of innovative, high-performance, and sustainable cable solutions. Their offerings, including fire-resistant, halogen-free, and energy-efficient cables, are highly sought after for meeting stringent safety and environmental standards.
Major players operating in the Europe power and control cables industry are:
Market, By Product
Market, By Voltage
Market, By Application
The above information has been provided for the following countries:
The France power and control cables market is projected to exceed USD 6.2 billion by 2034, propelled by renewable energy initiatives, smart grid development, and the growing adoption of electric vehicles (EVs).
Key players in the market include Belden, Brugg Cables, Eland Cables, Furukawa Electric, KEC International, KEI Industries, Klaus Faber, LS Cable & System, Nexans, NKT, Prysmian Group, RR Kabel, Southwire Company, Sumitomo Electric Industries, and Universal Cables.
The low voltage segment in the Europe power and control cables market is anticipated to grow at a CAGR of over 5.6% through 2034, supported by rising urbanization, smart city projects, and demand for energy-efficient solutions.
The Europe power and control cables market was reached USD 63.3 billion in 2024 and is projected to grow at a 7.2% CAGR from 2025 to 2034, driven by increasing energy infrastructure development and renewable energy projects.
The power cable segment is expected to surpass USD 21.7 billion by 2034, fueled by investments in energy infrastructure and the integration of renewable energy sources like wind and solar.