According to the recent study the power cable market is projected to reach an estimated $69.0 billion by 2027 from $51.3 billion in 2021, at a CAGR of 5.1% from 2021 to 2027. Growth in this market is primarily driven by electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in 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).

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“Low voltage cable market is expected to remain the largest segment during the forecast period.”

Based on voltage type, the power cable market is segmented into low voltage cables, medium voltage cables, and high voltage cables. Lucintel forecasts that the low voltage cable market is expected to remain the largest segment due to growth in construction as well as automotive sector, especially in China and India.

“Within the power cable market, the utilities segment is expected to remain the largest end use industries”

Based on end use industries the utilities segment is expected to witness the highest growth over the forecast period due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand.

“Asia pacific will dominate the power cable market in near future”

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.

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Major players of power cable market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Prysmian Group, Nexans S.A., Leoni AG, NKT A/S, Sumitomo Electric Industries, Encore Wire Corporation, KEI Industries Limited, Southwire are among the major power cable providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/power-cable-market.aspx  or helpdesk@lucintel.com