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North America Power and Control Cable Market Trends

Report ID: GMI7210
Published Date: Oct 2023
Report Format: PDF

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North America Power and Control Cable Market Trends

The rapid pace of digitalization and the increasing adoption of smart artificial intelligence systems have significantly shaped the region. While some industries have managed to avoid the sweeping changes brought about by digitalization, the electricity sector has, for the most part, remained on the outskirts of this transformation. Investments in information technology (IT) have been relatively limited within the power sector, as major players have primarily focused on expanding their capacity in their respective segments. There is a noticeable shift towards integrating IT into the electricity sector, which is poised to significantly promote the deployment of smart grids.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of North America power and control cable was reached USD 27.3 billion in 2023 and is set to exhibit a 6.8% CAGR from 2024 to 2032, resulting from the heightened investments in the expansion of long-distance transmission networks and the revitalization of domestic distribution infrastructure.

The power cable segment generated more than USD 21.6 billion in 2022 and is likely to witness high demand owing to their extensive use in lower-rated capacity networks.

North America power and control cable market includes companies such as Prysmian Group, Nexans, Southwire Company LLC, KEC International Ltd., FURUKAWA ELECTRIC CO., LTD., Sumitomo Electric Industries, Ltd., and Klaus Faber AG, among others.