Power And Control Cable Market Size By Product (Power Cable , Control Cable), By Voltage (HV, MV, LV (LV Power, LV Control)), By Application (Utilities, Industrial (Power Plants, Oil & Gas, Cement)), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jan 2020  |  Report ID: GMI1502  |  Authors: Ankit Gupta, Riya Gupta

Report Format: PDF   |   Pages: 330   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Power and Control Cable Market size exceeded USD 100 billion in 2019 and is anticipated to achieve over 8% up to 2026. Ongoing investments across electricity infrastructure along with revamping & refurbishment of existing transmission and distribution systems will drive the global industry growth. Furthermore, growing inclination toward energy efficient grid integration along with rising adoption of renewable energy resources will complement the product demand.
 

Power and Control Cable Market

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Power and control cables are energy transfer systems, transmitting high and low power from a source to an equipment. Primarily deployed in industrial, commercial and electrical utilities with a range of applications. These cables are composed of mainly three components which includes protective jackets, conductors and insulators. Moreover, high resistance to heat and fire followed by moisture resistant materials are key features driving the power and control cable market demand.
 

Power And Control Cable Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 108.8 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 8.3% 2026 Value Projection: 191.0 Billion (USD)
Pages: 330 Tables, Charts & Figures: 561
Geographies covered (34): U.S., Canada, Mexico, UK, France, Netherlands, Italy, Spain, Sweden, Denmark, Belgium, Germany, Russia, China, India, Japan, South Korea, Australia, Indonesia, Philippines, New Zealand, Malaysia, Thailand, Saudi Arabia, UAE, Qatar, Kuwait, Turkey, South Africa, Egypt, Nigeria, Brazil, Argentina, Peru
Segments covered: Product, Voltage Level, Application
Companies covered (15): Prysmian, Nexans, Southwire, Polycab, RPG Cables, NKT A/S, DUCAB, Elsewedy Electricals, KEI, Riyadh Cables, Jeddah Cables, LS Cable & System, Sumitomo Electric Industries, Belden, and Furukawa Electric.
Growth Drivers:
  • North America and Europe
    • Stringent energy efficiency norms
    • Refurbishment & retrofit of existing grid infrastructure
  • Asia Pacific
    • Rising peak load demand
    • Expansion of micro-grid networks
    • Grid stability & security of supply concerns
  • Middle East & Africa and Latin America
    • Increasing electricity demand
  • Integration of a sustainable electrical network
Pitfalls & Challenges:
  • Slow paced technological evolution across developing regions
  • High dependency on imports

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Substantial transformation across electrical infrastructure will witness increased cable demand across developing regions

Global Power and Control Cable Market By Product

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Power and control cables have gained high penetration across the overall wires and cable industry pertaining to their wide application across comparatively lower rated capacity networks. Moreover, substantial transformation across the infrastructure developmental activities, will drive the demand for cables across the globe.
 

The demand for a reliable electricity supply has been a major concern for both utilities and industries to effectively run operations. Moreover, favorable government norms toward the development of traditional transmission and distribution sector will augment the power cables demand.
 

IoT power monitoring system advancement in line with increasing investment across smart grid networks will augment the control cable segment of the global market. For instance, in 2019 Schneider Electric launched a R&D project ‘IELECTRIX’, funded by European Commission worth over USD 11 million to reduce investment uncertainties across future renewable networks which will further drive the industry landscape.
 

Demand for low voltage power cables with expansion of distribution networks

Global Power and Control Cable Market By Voltage Level

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Based on voltage, demand for LV power cable market is predicted to grow over 7% up to 2026. Rising inclination of manufacturers toward internal wiring applications & secondary power distribution will fuel the product demand. In addition, wire and cable industry have witnessed a strong market penetration on account of comparatively large unit installations will positively influence the business outlook. Furthermore, expansion of distribution networks along with increasing demand for energy from renewables will stimulate the power and control cable market landscape.
 

Increasing refurbishment across prevailing power cables infrastructure is driving the power and control cable industry growth

Increasing investments across the low voltage distribution networks along with rapid urbanization will escalate the overall business growth. For instance, in 2019, L&T Construction bagged an order worth USD 350 Million for the development of 400kV overhead transmission lines across the Zambezia Province, Republic of Mozambique.
 

Incorporation of wide-range frequency distribution networks along with growing concerns for energy-efficient technologies will stimulate the industrial cable segment of the market. Rising demand for ultra-high voltage networks across manufacturing sector will further boost the product demand. Increasing investments by government and private organizations in the developing countries for electrification programs will further complement the industry demand.
 

Asia Pacific region is set to dominate the regional power and control cable market demand

Asia Pacific Power and Control Cable Market By Application

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North America, Asia Pacific and Europe, in 2019 collectively held over 80% of industry share across the power and control cable market. Ongoing investments pertaining to the expansion of UHV and EHV network will fuel the industry dynamics. Micro grid technological development align with refurbishment of electrical infrastructure will positively influence the product land scape. For instance, the U.S. has announced an Atlantic Wind Transmission project worth USD 5 billion for the development of 6,000 MW offshore wind energy farm across mid-Atlantic by 2020.
 

China control cable market, in Asia Pacific region is set to exceed by USD 3 billion in 2026. Ongoing expansion across communication, railways and energy sectors along with high investments under R&D sectors will positively influence the industry share.
 

The State Grid Corporation of China’s expansion and upgradation program across grid infrastructure to spend USD 350 billion from 2016 to 2020. Moreover, growing inclination toward refurbishment of existing transmission and distribution networks coupled with high investment in smart infrastructure will complement the product demand.
 

Rising demand for technological advancement acts as the focal point of industry participants

Power cables are primarily deployed by industries and utilities and for effective power distribution and transmission networks. Standards performs a vital role in production, designing, distribution and manufacturing of these cables. Growing urbanization and high electricity demand has witnessed significant upsurge which will further complement the cables and wires demand.
 

In addition, high investments across R&D sector by major participants to maintain quality standards and ensure economies of scale across the cable industry will strengthen the business potential. Key market players across the global power and control cable market includes Prysmian, Nexans, Southwire, Polycab, NKT A/S, DUCAB, Elsewedy Electricals, KEI, Riyadh Cables, Jeddah Cables, RPG Cables, LS Cable & System, Sumitomo Electric Industries, Belden and Furukawa Electric.
 

Power and Control Cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD” from 2015 to 2026, for the following segments:
 

By Product

  • Power Cable
  • Control Cable

By Voltage Level

  • HV
  • MV
  • LV
    • LV Power
    • LV Control

By Application

  • Utilities
  • Industries
    • Power Plants
    • Oil & Gas
    • Cement
    • Others

 

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Belgium
    • Germany
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Philippines
    • New Zealand
    • Malaysia
    • Thailand
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Turkey
    • South Africa
    • Egypt
    • Nigeria
  • Latin America
    • Brazil
    • Argentina
    • Peru
       

Frequently Asked Questions (FAQ) :

The power and control cables are energy transfer systems, transmitting high and low power from a source to an equipment. Primarily deployed in industrial, commercial and electrical utilities with a range of applications.
The global power and control cable market value will witness over 8.3% CAGR from 2020 to 2026.
Low voltage power cable segment dominates the industry and expected to achieve over 7% CAGR from 2020 to 2026, driven by rising inclination of manufacturers toward internal wiring applications & secondary power distribution.

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