USD 131.61 Billion
Power And Control Cable Market Size, Share, Growth Analysis, By Voltage(Low voltage, Medium voltage, and High voltage cables), By Application(Energy, Construction, Automotive, and Telecommunications), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20D2177 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Power And Control Cable Market Insights
Power And Control Cable Market size was valued at USD 140.82 Billion in 2023 and is poised to grow from USD 150.68 Billion in 2024 to USD 258.9 Billion by 2032, growing at a CAGR of 7% during the forecast period (2025-2032).
The rise in demand for power and control cables can be credited to the current urbanization trend in multiple developing nations and emerging economies globally. There is an increased desire and demand for extensive and complex electrical and control systems that can be further held responsible for the growing rate of erection of commercial and residential buildings infrastructures resulting from expansion of cities and an influx of infrastructure development projects like airports, railways, and highways. This results in the heightened demand and eventual expansion of the global power and control cable market.
One of the major drivers of the global power and control cable market is the ongoing expansion and growth of various industrial sectors of the global economy such as manufacturing, automotive, aerospace, and energy generation. The machinery, automation systems, and power distribution networks of these industries are heavily reliant on power and control cables. As these particular fields continue down the path of modernizing and automating their operations and processes, the demand for specialized and high-quality cables will reflect the growth.
A vast number of industries are putting a growing emphasis on saving energy and introducing sustainable practices in the face of rising environmental concerns and new regulations to fight them. In response to this trend power and control cable manufacturers and suppliers began to develop cables which are more energy-efficient than previous models and use ecologically sound materials in the production process. In addition, in an effort to lessen waste and its negative impact on the environment, there was a rise in interest for using cables which can be recycled and reused.
The utilities and renewable energy sectors are some of the biggest contributors for the rising demand in the global power and control cable market. North America, particularly the US and Canada have held the top position steadily in the market, although the APAC region is growing rapidly owing to its increased pace of infrastructure development and industrialization.
However, the global power and control cable market also faces a number of challenges that can hamper market growth and expansion. These obstacles include unsteady flux of the prices of raw materials and the necessity to adhere to the restraining environmental regulations. Although, overall, this market is predicted to see continued growth.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Low voltage
Fastest Growth
Low voltage
Growth Rate
7% CAGR
Global Power And Control Cable Market ($ Bn)
Country Share for North America Region (%)
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Power And Control Cable Market Segmental Analysis
In terms of voltage, the global power and control cable market can be segmented into low voltage, medium voltage, and high voltage cables, depending upon varying power transmission needs. Based on application, market segmentation results in industries like energy, construction, automotive, and telecommunications, each asking for specific cable types. Regionally, the market can be divided into sections like North America, Europe, Asia-Pacific, and Latin America.
Analysis By Voltage
The largest segment in the global power and control cable market is often the low voltage segment. This is due to the widespread use of low voltage cables in residential and commercial buildings, as well as for various electrical and electronic devices. The demand for LV cables was being driven by urbanization, infrastructure development, and the increasing use of electronic equipment.
The medium voltage and high voltage segments show significant growth potential. This growth was fueled by the need for efficient power distribution systems, renewable energy projects, and grid modernization efforts, especially in emerging markets.
Analysis By Application
The largest segment within the global power and control cable market typically tends to be the utilities segment. Both developed and emerging economies drive the demand of the market as all nations need dependable infrastructure for the smooth transmission and distribution of power. This market segment continues to grow as a result of growing investments in the field of electric grid upgrades and expansion.
In recent years, one of the industries with the quickest rate of growth in the global power and control cable market is the renewable energy sector. Power cables are becoming more and more essential to connect wind and solar farms to the grid as economies over the globe combinedly work to lower their carbon footprint and boost their capacity for renewable energy. The usage of control cables is vital in the case of promoting effective monitoring and management of these sporadic energy sources.
Global Power And Control Cable Market By Voltage
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Power And Control Cable Market Regional Insights
Power and control cables markets have grown significantly in North America over the years, making it a mature market segment owing to its extensive infrastructure development, continued expansion of its industrial sector, and technological improvements. The North American region’s biggest contributors in the power and control cables market are mainly the United States and Canada. Here, the market has seen a steady growth, with an emphasis on efficiency of energy and sustainability.
Next up, owing to its rapid industrialization, infrastructure development, and urbanization, the Asia-Pacific region is the fastest growing segment of the global power and control cables market. In the APAC region, China and India are the dominant market segments. The growth can be credited to the government programs and investments made keeping in mind the advancing infrastructure and development of renewable energy.
Global Power And Control Cable Market By Region
- Largest
- Fastest
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Power And Control Cable Market Dynamics
Drivers
Rapid Urbanization and Infrastructure Development
- One of the top factors driving the power and control cable market has been the ongoing trend of global urbanization and the subsequent need for better development of infrastructure. As more residential buildings, workplaces, industrial factories, and new transportation networks in the fabric of cities in emerging nations, the demand for power and control cables increases gradually.
Renewable Energy Integration
- Power cables are in high demand resulting from the global transition towards renewable energy sources such as wind and solar power. These infinite energy sources frequently need large cable networks to deliver and receive energy from distant generation sources to urban centers. Thus, power cables are predicted to come further into demand as the planet moves towards greener energy sources for grid connection.
Restraints
Fluctuating Raw Material Prices
- One major element influencing the power and control cable market is the price of raw materials used in production, such as copper and aluminum. Paced changes in the price of the mentioned raw materials can have an effect on the total manufacturing costs and therefore on the overall prices of the cables. These unforeseeable price swings can occur due to factors of an economic and geopolitical nature.
Regulatory and Environmental Compliance
- Further limitations on the power and control cables market have come from growing environmental restrictions and consumer demand for greener products. Cable manufacturers are required to follow strict guidelines pertaining to the protection of the environment in order to produce energy efficient products which are sustainable as well. Thus, the adherence to these rules results in increased production costs, pushing the overall price and subduing market growth.
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Power And Control Cable Market Competitive Landscape
The competitive scene of the global power and control cable market is made up of multiple major competitors constantly striving for the largest market share or even a place in the broad market. Prominent industry leaders like Prysmian Group, Nexans, General Cable, and Southwire Company retain their dominance using their broad offering of products, stable and efficient distribution networks, and technical innovations. These titans of the industry concentrate in strategic partnerships, mergers, and purchases to increase their market share and broaden the expanse of their product lines.
In addition, innovation is necessary as firms continuously spend a majority of their investments in R&D to improve cable performance, sustainability, and durability. The market is also seeing the rise of specialized firms that focus on particular types and applications of cables. This results in further rivalry in market segments such as telecommunications, industrial automation, and renewable energy. In general, the global power and control cable market continues to be lively and dynamic, as the competitive landscape propels innovation and advancements in technology.
Top Player’s Company Profiles
- Prysmian Group - Italy
- Nexans - France
- General Cable - United States
- Southwire - United States
- LS Cable & System - South Korea
- Furukawa Electric - Japan
- Sumitomo Electric Industries - Japan
- Belden Inc. - United States
- Lapp Group - Germany
- Leoni AG - Germany
- ABB Group - Switzerland
- Encore Wire Corporation - United States
- CME Wire and Cable - United States
- Cable Corporation of India - India
- NKT A/S - Denmark
- TPC Wire & Cable Corp. - United States
- General Cable Corporation - United States
- Bahra Cables Company - Saudi Arabia
- Universal Cables Ltd. - India
- Tratos - United Kingdom
Recent Developments
- In January 2023, Prysmian Group, an multinational company specializing in the production of electrical cable for use in the energy and telecom sectors and for optical fibers, bought General Cable Corporation for USD 3.9 billion.
- In February 2023, Sumitomo Electric Industries, a manufacturer of electric wire and optical fiber cables based in Japan, acquired Belden Incorporated, an American manufacturer of networking, connectivity, and cable products, for USD 3.9 billion.
- In March 2023, Southwire Company, one of the world's leading developers, manufacturers and suppliers of building wire and utility cable, purchased Tele-Fonika Kable, a recognized producer of copper and aluminum cables, wires, and optical fiber cables, for USD 1.2 billion.
Power And Control Cable Key Market Trends
- Growing Demand for Renewable Energy Infrastructure: Power and control cables were in high demand as the world shifted to putting an emphasis on renewable energy sources such as wind and solar power. The transmission of electricity through these energy sources to the grid and ultimately to the end-users is highly dependent on these cables. Power and control cable sales were predicted to rise as the world’s nations made more investments in sustainable infrastructure.
- Increasing Automation in Industrial Processes: Industries everywhere made tremendous strides in automation and technological improvements. The need for specialized control cables was fueled by the need for complex control systems that were necessary to accommodate this ongoing trend. These specialized cables are necessary for the transmission of data and control signals in automated manufacturing processes, robotics, and other industrial applications. With growing automation, it was anticipated that the demand for high-performance control cables would expand.
Power And Control Cable Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the prospects of the global power and control cable market appear promising as industries increasingly rely on advanced electrical infrastructure. With growing demand for renewable energy sources, electric vehicles, and industrial automation, the need for high-quality power and control cables is expected to rise. Moreover, ongoing technological advancements, such as superconducting cables and smart grid systems, will further boost market growth. Additionally, as sustainability and energy efficiency remain key concerns, the market is likely to witness innovations in eco-friendly cable materials and designs. Overall, the global power and control cable market is poised for expansion driven by evolving industrial and energy landscape requirements.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 131.61 Billion |
| Market size value in 2031 | USD 241.96 Billion |
| Growth Rate | 7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Power And Control Cable Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Power And Control Cable Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Power And Control Cable Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Power And Control Cable Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Power And Control Cable Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Power And Control Cable Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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