Lucintel Forecasts the Global Power Cable Market to Reach $98 Billion by 2030
Lucintel Forecasts the Global Power Cable Market to Reach $98 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global power cable market looks promising with opportunities in the utilities, industrial, residential, and commercial markets. The global power cable market is expected to reach an estimated $98 billion by 2030 from $62 billion in 2023 at a CAGR of 6.8% from 2023 to 2030. The major drivers for this market are rapid urbanization and infrastructure development, technological advancements in power cable design, and transition towards renewable energy sources, such as wind, solar, and hydroelectric power.
A more than 150-page report to understand trends, opportunity and forecast in global power cable market to 2030 by voltage type (low voltage, medium voltage, and high voltage), installation (overhead, underground, and submarine), end use industries (utilities, industrial, residential, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Lucintel forecasts that low voltage cable will remain the largest segment over the forecast period due to growth in construction as well as automotive sector, especially in China and India.
Within this market, utilities will remain the largest segment due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand.
Download sample by clicking on power cable market.
Prysmian Group, Nexans S.A., Leoni AG, NKT A/S, Sumitomo Electric Industries, Encore Wire Corporation, KEI Industries Limited are the major suppliers in the power cable market.
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 write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056