Solar Cable Market has been valued at USD 465.71 million in the year 2021 and it is estimated to reach USD 1.73 billion by the year 2027, with a CAGR of 14.05% from 2022 to 2027. Solar Cable is the interconnection cable used in photovoltaic power generation. Solar cables interconnect solar panels and other electrical components of a photovoltaic system. Solar cables are designed to be UV resistant and weather resistant. They can be used within a large temperature range; these are the main factors that have considerably increased the demand for Solar Cable in the market, thereby driving the huge growth of the Solar Cable market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Solar Cable in the market are mainly the increase in the use of solar cables in various applications and a rise in the number of solar projects in emerging economies supplementing the market growth. The Global Solar Cable Market report provides a holistic evaluation of the market. Growing awareness about the efficiency and ease in maintenance of solar energy in comparison to other non-renewable energy sources such as hydroelectricity, windmills, geothermal energy, and others are some of the major that is contributing to the growth of the Solar Cable Market. However, the high initial cost and fluctuating raw material prices are some of the major factors hampering the growth of the market; these are the main factors that have considerably increased the demand for Solar Cable in the market, thereby driving the huge growth of the Solar Cable market in the upcoming years

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The report is segmented as:

The Solar Cable Market is segmented on the basis of:

By Product Type (Copper and Aluminum Alloy),

By Cable Type (Solid and Stranded Cables),

By Application (Solar Panels Wiring, Underground Service Entrances, and Service Terminal Connections),

By End Users (Residential, Commercial, and Industrial)

Geographical Segmentation:

Solar Cable Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the rest of the world. North America has the dominant share in the Solar Cable due to the Rising awareness of solar panels, clean energy, and environment-friendly initiatives these are the main factors that have considerably increased the demand for Solar Cable in North America, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa will register a slower increase in the Solar Cable Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has affected the growth of business in every sector and it also affected the growth of the Solar Cable market, and temporary lack of growth in export and import activities, which has impacted the rays of Solar Cable market growth. The covid-19 pandemic has impacted hugely on the sales revenue of the Solar Cable market. The government restrictions like lockdown in many countries have shut down the commercial and industrial establishments and also stopped transportation these made a huge losses for the Solar Cable market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus.

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