Report Ocean presents a comprehensive research report on Cables, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Cables.
The global cables market size was US$ 79.7 billion in 2021. The global cables market is expected to grow to US$ 152.4 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the study period from 2022 to 2030.
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When carrying electricity or electronic communications, a cable is a stout wire or a collection of wires enclosed in a rubber or plastic covering. They transport electrical impulses and help with the production, transmission, and distribution of electric power because they are made of electrically conductive materials. A cable’s conductor, dielectric, and sheath are its main parts. The conductor creates a path for electricity to flow through a cable.
COVID-19 Impact Analysis
The COVID-19 epidemic has had a substantial influence on the world market for cables. Because of the global downturn and a lack of labor, production facilities for electronics and semiconductors have been put on hold. Due to the COVID-19 epidemic, which resulted in travel restrictions and facility closures that significantly reduced the number of workers in the facilities, the expansion of the cables market in 2020 was slowed down.
Regional Analysis
Asia-Pacific would exhibit the highest CAGR in the global cables market owing to the major contribution of highly populated countries like China, Indonesia, and India. As a result of the high population of the region, the demand for electricity is expected to grow steadily. Further, growing investments by government bodies in investments are expected to contribute to the growth of the market during the analysis period.
Additionally, other factors like growing urbanization and industrialization are expected to be the major reasons driving the growth of the market during the analysis period.
Factors Influencing the Market
Increased investments in the transmission and distribution of electric power are one of the key factors influencing the global cables industry, driving up demand for cables. Additionally, the market is impacted by an increase in urbanization and investments in the industrial sector.
The growing demand for the timely delivery of electric supplies is expected to run the growth of the market during the analysis period. Additionally, the demand for power is rising as a result of the growing population. The population is growing steeply in countries like India, China, the United States, Indonesia, etc. Further, governments are also focusing on increasing industrialization as it is a key component to boosting economic growth. Additionally, growing investments in IT and communication and the energy and power sector are projected to present potential prospects for the global cables market during the study period. Therefore, all of these factors will sustain the growth of the global cables market during the study period.
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Competitors in the Market
Huawei Technologies
Prysmian Cables Systems
Nexans
ABB
Furukawa
General Cable
Axon Cable
Polycab
KEI Industries
Sumitomo Electric Wiring Systems
Other Prominent Players
Market Segmentation
The global cables market segmentation focuses on Installation Type, Voltage, End-Use, and Region.
By Installation Type
Overhead
Underground
Submarine
By Voltage Type
High
Medium
Low
By End Use
Industrial
Aerospace and Defense
Oil and Gas
Energy and Power
IT and Telecommunication
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
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Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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