According to a new report by EMR titled, ‘Global Power Cables Market Report and Forecast 2020-2025’, the global power cables market is being aided by the growth of the global cable market, which attained USD 149.90 billion in 2019. The global cable market (excluding winding wires) is expected to grow further in the forecast period of 2020-2025 at a CAGR of 4.10% to reach USD 190.77 billion by 2025.

Get a Free Sample Report – https://www.expertmarketresearch.com/request?type=report&flag=B&id=163

Competitive Landscape & Supplier Analysis:

General Cables (Prysmian Group)
Nexans SA (EPA: NEX)
Belden Inc. (NYSE: BDC )
Sumitomo Electric Industries, Ltd
Furukawa Electric Co., Ltd
LS Cables & System Ltd.
KEI Industries Ltd.
The Okonite Company Inc.
International Wire Group
Hitachi Cables, Ltd
The global power cables market is being driven by the growth in the energy sector. Electricity was the fastest-growing energy segment, with its demand rising by 4% in 2018. Nearly 22, 572 TWh of power was consumed in 2018, and it is projected to grow further in the forecast period. By 2024, global power consumption is expected to attain 26, 330 TWh. China and the United States are the leading power markets, accounting for 70% of the growth in the global power demand. The overall cable industry is dominated by the Asia Pacific, with the North America region also being a major cable market.

Read full report summary with Table of Content – https://www.expertmarketresearch.com/reports/power-cables-market

With power cables finding expanding uses in interconnector and offshore wind projects and the rise in green energy initiatives, the global power cables market is finding further impetus for its growth. Power cables find their application in the renewable energy sector in the required grid extension and reinforcement. High voltage cables are used in this segment to transfer large quantities of power. Currently, 179 countries have set national or state targets for renewable energy, and 57 nations plan to eliminate carbon from their electricity sector. China, a leading power market, is also a significant market for renewable power resources, being the largest installer, producer, and exporter of wind turbines, and solar power machinery.

Nexans (OTCMKTS: NXPRF), a major player in the global power cables market, contributes to the SuperGrid Institute, a Lyon-based Institute for Energy Transition (ITE) dedicated to the development of products, technologies, and services for Supergrid. Supergrid is the concept of forming an interconnected power grid with existing alternating current systems to transport energy from remote renewable power sources like offshore wind farms to sources of consumption. The grid will help manage the irregular nature of renewable energy sources by providing stability and increase the capacity of power networks.

Market Analysis by Material:

Aluminium
Copper
Power cables can either be made of aluminium or copper.

Market Analysis by Voltage:

Low Voltage
Medium Voltage
High Voltage
By voltage, they can be divided into low, medium, and high voltage.

Market Analysis by Application:

Power Transmission
Utilities
Telecommunication
Infrastructure
Others
Power cables find their applications in power transmission, utilities, telecommunication, and infrastructure, among others.

Market Analysis by Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The regional markets of power cables can be broadly categorised as North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

The global power cables market is being driven by the rise in population, rapid urbanisation, and the growing demand for electrification.
The market will also be driven by the rising infrastructure sector globally.
The industry is aided by the various government initiatives encouraging the adoption of underground cables.
The continuous maintenance of the grid and replacement projects related to old infrastructure will further aid the market.
With electricity production plants located farther away from the consumption area, the power cables market will find further impetus for its growth.
The rise in demand from emerging nations will propel the market forward in the coming years.
Key Offerings of the Report:

The report by EMR presents the historical (2015-2019) and forecast (2020-2025) markets for power cables according to their materials, voltage, applications, and their regional markets.
The report also provides an in-depth analysis of the regional price trends of power cables for the periods (2015-2019) and (2020-2025).
It offers an analysis of the global trade data for aluminium and copper wires for 2019.
Related Links:

https://www.expertmarketresearch.com/reports/gncc-simulators-market
https://www.expertmarketresearch.com/reports/interactive-childrens-books-market
https://www.expertmarketresearch.com/reports/iot-connectivity-market
https://www.expertmarketresearch.com/reports/enterprise-resource-planning-software-market

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture

We also provide state-of-the-art procurement intelligence through our platform, procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.

Contact us

Expert Market Research
Twitter: @expertmresearch
Website: www expertmarketresearch com
Email: sales@expertmarketresearch com
USA/Canada: +1-415-325-5166 | UK: +44-702-402-5790
LinkedIn: https://www linkedin com/company/expert-market-research/