Allied Market Research

2024

Cable For Electrical Equipment Market

Cable For Electrical Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Installation Type (Overhead, Underground, Submarine), by Voltage Type (High, Medium, Low) : Global Opportunity Analysis and Industry Forecast, 2022-2032

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Author's: | Vineet Kumar
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Cable for electrical equipment is a critical component in any electrical system. It is used to transmit electrical energy and signals, connecting different components of the system. Different type of cable is used for different application, and it is important to select the appropriate type of cable based on the voltage and amperage that will be transmitted, the environment in which the cable will be used, and the cable's ability to withstand temperature, vibration, and other external factors. Cable manufacturers use various materials and techniques to ensure that the cable can withstand the demands of the application.
 
The construction of new buildings, roads, and other infrastructure projects is a key driver of the cable for electrical equipment market. As infrastructure development increases, such as in India which have budgeted USD 1.4 trillion for spending on infrastructure in the next 5 years, the demand for cable for electrical equipment also increases, as these projects require the installation of electrical systems that transmit energy and signals. Furthermore, the increasing adoption of electric vehicles is another key driver of this market. The increasing popularity of electric vehicles is driving the demand for high-quality cable for electrical equipment to connect and transmit energy from charging stations to vehicles. For example, installing a new electric vehicle charging station requires the installation of power cable to transmit electricity from the grid to the charging station, and control cable to transmit signals between the charging station and the electric vehicle. In addition, increasing adoption of smart grid and internet of things (IoT) technology is also a key driver of this market. Smart grids and IoT systems are designed to improve the efficiency, reliability, and security of the electric grid by connecting and transmitting data between devices such as sensors, meters, and control systems. This requires high-quality cable for electrical equipment that can handle the demands of these systems, such as fiber optic cable for data transmission and control cable for signaling. For example, installing a new smart grid system in a city requires the installation of power and control cable to transmit energy and signals between the grid and the devices in the system, and fiber optic cable to transmit data between the devices.
However, competition from alternatives such as wireless transmission technologies is a major challenge for the cable for electrical equipment market. Wireless power transfer and wireless data transmission may be seen as more convenient and cost-effective alternatives to cable for certain applications, which can lead to decreased demand for cable products. As wireless technologies continue to evolve, they may also become more viable options for a wider range of applications, reducing cable demand. Manufacturers will need to adapt and innovate to remain competitive in the face of these alternatives. 
Moreover, the increasing use of renewable energy sources presents a significant opportunity for the cable for electrical equipment market. As the demand for renewable energy continues to grow, the demand for high-quality cable for electrical equipment to connect and transmit energy from these sources to the grid is also expected to grow. Manufacturers must focus on developing new and innovative products that can handle the specific demands of these energy sources to capitalize on this opportunity.
Segmental Overview
By installation type: The cable for electrical equipment market is divided into overhead, underground, and submarine. Overhead cable for electrical equipment is installed above ground and is typically used for the transmission and distribution of electricity in residential and commercial areas. This type of cable is typically made of aluminum or copper and insulated with rubber or PVC materials. Underground cable for electrical equipment is installed below ground and is typically used for the transmission and distribution of electricity in densely populated areas. Submarine cable for electrical equipment is used to transmit electricity and data between offshore platforms and onshore facilities, as well as between islands and between countries. This cable type is typically made of copper or aluminum and is insulated with materials such as PVC or XLPE.
By voltage type: The cable for electrical equipment market is divided into high, medium, and low. High voltage cable for electrical equipment is used to transmit electricity at voltages above 1 kV. This cable is typically used for transmission and distribution of electricity in power stations, substations, and large industrial facilities. High voltage cable is made of copper or aluminum and is insulated with materials such as XLPE or EPR. Medium voltage cables for electrical equipment transmit electricity at voltages between 1 kV and 35 kV. This type of cable is typically used for distribution of electricity in residential and commercial areas, as well as in industrial facilities. Medium voltage cable is made of copper or aluminum and is insulated with materials such as PVC or XLPE. Low voltage cable for electrical equipment is used to transmit electricity at voltages below 1 kV. This cable is typically used for control and signaling systems in residential, commercial, and industrial facilities. Low voltage cable is made of copper or aluminum and is insulated with materials such as PVC or rubber.
By region: The cable for electrical equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The construction of new infrastructure projects and the increasing adoption of electric vehicles drives north America. In contrast, the increasing construction of new infrastructure projects and the growing adoption of smart grid and IoT technology drives Asia-Pacific.
Competitive Analysis
This report includes competitive analysis and profiles of major players such as ABB Ltd., Axon Cable, Belden Inc, Furukawa Electric Co. Ltd., Huawei Technologies Co. Ltd., KEI Industries, Nexant, POLYCON INTERNATIONAL Ltd, Prysmian Group (General Cable), and Sumitomo Electric Industries. These companies have adopted key strategies such as product launches and acquisitions to improve their product portfolios and stay competitive.

Cable For Electrical Equipment Market Report Highlights

Aspects Details
Cable For Electrical Equipment Market By Installation Type
By Installation Type
  • Overhead
  • Underground
  • Submarine
Cable For Electrical Equipment Market By Voltage Type
By Voltage Type
  • High
  • Medium
  • Low
Cable For Electrical Equipment Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

Huawei Technologies Co., Ltd., Nexant, ABB Ltd., Prysmian Group (General Cable), Sumitomo Electric Industries, Furukawa Electric Co., Ltd., KEI Industries, Axon Cable, Belden Inc., POLYCON INTERNATIONAL Ltd

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Cable For Electrical Equipment Market

Global Opportunity Analysis and Industry Forecast, 2022-2032