Power and Control Cable Market size to exceed $190bn by 2026

Power and Control Cable Market size is expected to surpass USD 190 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Power & control cable industry outlook is anticipated to witness growth on account of substantial transformation across electrical infrastructure. High resistant to heat, safe & reliable power supply coupled with corrosive resistant materials are some of the key factors favoring the industry growth. Furthermore, favorable government norms including tax incentives toward renewable integration along with availability of low-cost manpower in the regions including Asia Pacific and Middle East & Africa will foster the business outlook. Rising demand for a reliable electricity supply along with high investments across grid integration will drive the industry demand.

 

Request Sample Buy NowInquiry Before Buying

 

Rising investments across the renewable sector fueling the power and control cable market growth

Power and control cables is the preferred energy transmission solution across the industrial, commercial and utility sectors. The industry giants across the T&D industry are investing aggressively toward the development of power grid, substations, R&D labs, administrative and other facilities to effectively cater to growing demand for electricity. Schneider Electric, in 2019 introduced a research & development project ‘IELECTRIX’, which was funded by EU Commission worth USD 11 million to decrease fund allocation uncertainties across future sustainable networks which will drive the industry outlook. Over the years, investments across the renewable power generation have increased on account of favorable policies and highly competitive business environment, thereby driving the global market demand.
 

Browse key industry insights spread across 350 pages with 532 market data tables & 29 figures & charts from the report, “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”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-and-control-cable-market
 

Consumer inclination toward sustainable electricity network will boost the industry growth

Paradigm shift toward renewable technologies along with digitalization across the power industry will drive power and control cable market. Furthermore, grid-isolated areas have been the prime focus for installers and regulators as these pose a significant growth potential for industry expansion and business growth. Longer life span, ease of installation and minimal maintenance are some of the key features favoring the product demand. Positive consumer inclination to incorporate a sustainable electricity network along industrial and commercial sector will augment the business landscape.
 

Growing urbanization along with high investments is set to drive Asia Pacific market size

China low voltage cable market share, across the Asia Pacific region by 2026 will surpass USD 3 billion. Expansion programs across railways, communication and energy sectors coupled with rising investments across smart infrastructure will positively stimulate the industry share. For instance, State Grid Corporation of China, in 2017 announced to invest USD 350 billion on renewable energy sector by 2020 across Asia Pacific. Rising inclination toward retrofitting of existing T&D networks along with high investment across renewable energy will drive the product demand.
 

Eminent power and control cable market participants include Nexans, Southwire, Prysmian, Polycab, Elsewedy Electricals, KEI, NKT A/S, DUCAB, Riyadh Cables, RPG Cables, Jeddah Cables, Belden, Furukawa Electric, Sumitomo Electric Industries and LS Cable & System.
 

Explore More on Related Topics:

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X