Power Cable Market is anticipated to grow at a CAGR of 5.1% during 2021-2027

The global power cable market is projected to reach $69.0 billion by 2027, at a CAGR of 5.1% during 2021-2027. The growth of power cable market is driven by electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the power cable market by voltage type (low voltage cables, medium voltage cables, and high voltage cables), end use industry (utilities, industrial, residential, and commercial), installation (overhead, underground, and submarine), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the power cable market?

Q.4 What are some changing demands of customers in the power cable market?

Q.5 What are the new developments in the power cable market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this power cable area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this power cable market? 

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Market Segmentation:

Based on voltage type, the power cable market is segmented into low voltage cables, medium voltage cables, and high voltage cables. The low voltage cable segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to growth in construction as well as automotive sector, especially in China and India.

Asia Pacific is expected to remain the largest market over the forecast period due to economic expansion, industrialization, urbanization, and rural electrification projects, particularly in India and China, are leading the demand for energy cables.

Key Players in the power cable market are Prysmian Group, Nexans S.A., Leoni AG, NKT A/S, Sumitomo Electric Industries, Encore Wire Corporation, KEI Industries Limited, Southwire.

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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.lucintel.com/power-cable-market.aspx.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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