Power And Control Cable Global Market Report 2023
Major players in the power and control cable market are Prysmian S.p.A, Nexans S.A., Polycab India Limited, NKT A/S, Dubai Cable Co Pvt Ltd., KEI Industries, LS Cable & System Ltd., Sumitomo Electric Industries Ltd.
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power And Control Cable Global Market Report 2023" - https://www.reportlinker.com/p06480006/?utm_source=GNW , Belden Incorporated, Furukawa Electric Co Ltd., Southwire Company LLC, Elsewedy Electric, Riyadh Cables Group Company, Jeddah Cables, and General Cable.The global power and control cable market is expected to grow from $137.39 billion in 2022 to $147.25 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The power and control cable market is expected to reach $187.15 billion in 2027 at a CAGR of 6.1%.The power and control cable market consists of sales of ribbon electric cables, shielded cables, twisted pair cables, coaxial cables, and fiber optic cables.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The power and control cable refers to the cable that is used to transfer energy from its source to the machinery and transferring signals for measurement, regulation, and automation control. Its primary function is to transmit power from distribution stations to various electrical and measurement devices.North America was the largest region in the power and control cable market in 2022.Asia-Pacific is expected to be the fastest-growing region.The regions covered in power and control cable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main product types of power and control cable include power cable and control cable.A control cable is an electric cable that is intended to use automation to assist equipment to perform as it should.They are used for various voltage types such as high voltage, medium voltage and low voltage for use in various applications including utilities, industries, power, oil and gas, cement and others.The rising adoption of smart grid infrastructure is expected to propel the growth of the power and control cable market going forward.Smart grid infrastructure is an electricity network that employs digital and other cutting-edge technology to monitor and regulate the transmission of electricity from all generation sources to meet the various electrical needs of end users.The power and control cables consist of secure super grid technology, potent for building a dense urban grid that transports energy over long distances with minimal power losses. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, the US investment spending on electricity grids increased by 9.09% from $77 billion in 2020 to $84 billion in 2021. Therefore, the rising adoption of smart grid infrastructure is driving the growth of the power and control cable market.Product innovations are a key trend gaining popularity in the power and control cable market going forward.Major companies operating in the power and control cable market are developing innovative technologies to strengthen their position in the market.For instance, in July 2022, Remee Products Corporation, a US-based manufacturer of electronic wire and cable launched the ActivateTM line of PowerPipeTM distribution cables.These cables deliver distributed electronics requiring long-distance runs a more dependable, cost-effective Class 4 fault-managed power supply.Also, they will assist in advancing digital power technologies that are necessary for smart buildings and a variety of other applications.In October 2022, Hew Kabel, a Germany-based cable manufacturer merged with Habia Cable.With the merger, HEW-KABEL and Habia Cable would be brought together as one, combining the technical and commercial strengths of both to create a leading specialist cable and connectivity group serving the global market.Habia Cable is a Sweden-based producer of specialized cables, including power cables.The countries covered in the power and control cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The power and control cable market research report is one of a series of new reports that provides power and control cable optical components market statistics, including power and control cable optical components industry global market size, regional shares, competitors with a power and control cable optical components market share, detailed power and control cable optical components market segments, market trends and opportunities, and any further data you may need to thrive in the power and control cable optical components industry. This power and control cable optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06480006/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________