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Europe Power and Control Cable Market Size

  • Report ID: GMI7391
  • Published Date: Nov 2023
  • Report Format: PDF

Europe Power and Control Cable Market Size

Europe Power and Control Cable Market was valued at USD 22.1 billion in 2022 and is set to observe around 6.1% CAGR from 2023 to 2032. The depletion of traditional resources and concerns about the sustainability of escalating energy demand have significantly impacted global electricity markets. In response, regulators have actively embraced energy-efficiency reforms to maintain a balance between energy supply and demand.

 

Europe Power and Control Cable Market

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Increasing consumer awareness of environmental impacts and the importance of optimized energy consumption is having a positive impact on energy markets throughout Europe. In alignment with energy efficiency norms across the region, manufacturers are redirecting their focus toward creating energy-efficient and operationally flexible components. The evolution of smart technologies, coupled with the integration of digitized monitoring and control systems, has established a favorable business environment.

 

A substantial number of countries across the region rely on importing components to meet the growing demand for expanding and upgrading transmission infrastructure. Manufacturers globally have consistently emphasized reducing overall production costs to maintain sustainable profitability and effective industry penetration. Nevertheless, the scarcity of raw material resources has necessitated regional installers and component suppliers to depend on imports to address the increasing demand for energy.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe power and control cable was worth more than USD 22.1 billion in 2022 and is projected to witness 6.1% CAGR from 2023 to 2032, due to the depletion of traditional resources and rising concerns about the sustainability of escalating energy demand.

Europe power and control cable market size from the utilities applications is set to record over 5.8% CAGR from 2023 to 2032, owing to the greater emphasis by several governments on enhancing their existing Transmission and Distribution (T&D) networks.

U.K. recorded over 15.1% of the power and control cable industry share in 2022, driven by the growing emphasis on renewable energy sources in the region.

Some of the key power and control cable firms in Europe industry are Prysmian Group, Nexans, Southwire Company LLC, Belden Inc., KEC International Ltd., FURUKAWA ELECTRIC CO., LTD., LS Cable & System Ltd., NKT A/S, Sumitomo Electric Industries, Ltd., and Klaus Faber AG.

Europe Power and Control Cable Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 228
  • Countries covered: 7
  • Pages: 150
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