Energy Cable Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Energy Cable Market Trends and Forecast

The future of the global energy cable market looks attractive with opportunities in the utilities, industrial, residential, and commercial sectors.The global energy cable market is expected to reach an estimated $194.5 billion by 2030 with a CAGR of 5.2% from 2024 to 2030. The major growth drivers for this market are growth in electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.

Emerging Trends in the Energy Cable Market

Emerging trends, which have a direct impact on the dynamics of the industry, include the deployment of superconductors in power cables for improved performance and electron beam cross linking of power cable for durability and high current carrying capacity.
A total of 114 figures / charts and 72 tables are provided in this 185-page report to help in your business decisions. A sample figure with insights is shown below. 

Energy Cable Market by Segment

The study includes a forecast for the global energy cable market by product type, voltage type, end use industries, and region as follows:

By Voltage Type [$B shipment analysis for 2018 – 2030]:

• Low Voltage
• Medium Voltage
• High Voltage

By End Use Industries Market [$B shipment analysis for 2018 – 2030]:

• Utilities
• Industrial
• Residential
• Commercial  

By Product Type [$B shipment analysis for 2018 – 2030]:

• Low Voltage Energy Cables
• Power Cables

By Region [$B shipment analysis for 2018 – 2030]:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Russia
  • United Kingdom
  • Italy
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• The Rest of the World
  • Brazil
  • Saudi Arabia

List of Energy Cable Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies energy cable companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the energy cable companies profiled in this report includes.

• Prysmian Group
• Nexans S.A.
• Leoni AG
• NKT A/S
• Sumitomo Electric Industries
• Encore Wire Corporation
• KEI Industries Limited
• Southwire

Energy Cable Market Insight

Lucintel forecasts that low voltage cable is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to growth in construction as well as automotive sector, especially in China and India.
Utilities are expected to remain the largest end use market due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand. The residential segment is expected to witness the highest growth in the forecast period supported by increasing construction activities and increasing demand for heating, cooling, and air-conditioning (HVAC) equipment.
Asia Pacific is expected to remain the largest market over the forecast period due toe conomic expansion, industrialization, urbanization, and rural electrification projects, particularly in India and China, are leading the demand for energy cables.
 

Features of Energy Cable Market

• Market size estimates: Global energy cable market size estimation in terms of value ($B) shipment.
• Trend and forecast analysis: Market trend (2018-2023) and forecast (2024-2030) by application, and end use industry.
• Segmentation analysis: Global energy cable market size by various applications such as product, voltage type, end use industries in terms of value and volume shipment.
• Regional analysis: Global energy cable market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth opportunities: Analysis on growth opportunities in different applications and regions of energy cable in the global energy cable market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape of energy cable in the global energy cable market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the energy cable market size?
Answer: The global energy cable market is expected to reach an estimated $194.5 billion by 2030           
Q2. What is the growth forecast for energy cable market?
Answer: The energy cable market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the energy cable market?
Answer: The major drivers for this market growth in electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.. 
Q4. What are the major applications or end use industries for energy cable?
Answer: utilities and residential are the major application for energy cable.           
Q5. What are the emerging trends in energy cable market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include use of hyaluronic acid and retinols for anti-aging properties, micellar waters for water management, cannabis skincare as antioxidants, and probiotic skincare for delivering good bacteria to the skin.   
Q6. Who are the key energy cable companies?
Answer: Some of the key energy cable companies are as follows:

• Prysmian Group
• Nexans S.A.
• Leoni AG
• NKT A/S
• Sumitomo Electric Industries
• Encore Wire Corporation
• KEI Industries Limited
• Southwire

Q7.Which energy cable product segment will be the largest in future?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the deployment of superconductors in power cables for improved performance and electron beam cross linking of power cable for durability and high current carrying capacity.
Q8. In energy cable market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years 
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the global energy cable market by product type (low voltage energy cables and power cables), voltage type (low voltage cables, medium voltage cables, and high voltage cables),  end use industry (utilities, industrial, residential, and commercial), 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. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?