An energy cable is an electrical cable that transports generated electricity to its final destination. Power cables come in a variety of load-carrying capacities, materials, and voltage ranges, which distinguishes them from one another.
An underground and overhead laying network can be used to install these cables. High-voltage cables, medium-voltage cables, and low-voltage cables are the three types of power cables available. In power utilities and other purposes, power cables are primarily utilized for transmission and distribution of electrical energy. Residential, commercial, oil & gas, power utility, and mining uses, as well as renewable energy applications, all employ power cables.
COVID-19 Impact analysis
- The energy cable market was negatively affected due to the outbreak of COVID-19 pandemic.
- The decrease in industrial activities owing to outbreak of COVID-19 reduced the demand for energy. This consequently decreased the demand for energy cable.
- The COVID-19 pandemic has caused the imposition of lockdown in various countries which led to supply chain disruption. This led to raw material procurement problems for the production of energy cable.
- The energy cable market faced downfall of revenue due to the COVID-19 pandemic.
Top Impacting Factors
The increased deployment of new power grid infrastructure to meet the demand for electricity in regions where it is not available, power cables are widely employed in power utility applications. The availability of power grid infrastructure to transfer electricity is limited in a number of developing countries around the world. In order to meet this requirement, the governments of these countries are increasingly focusing on rapidly developing safe electricity grid infrastructure. The presence of many large-scale energy cable manufacturers, as well as their differences in product offerings, is predicted to boost the global energy cable market's growth. As a result of these factors, demand for power cables for power utility applications is increasing, which is likely to drive the worldwide energy cable market over the forecast period.
Market Trends
- The huge number of energy cable manufacturers in the region, Asia-Pacific is expected to dominate the global energy cable market throughout the projection period. This is attributed to increasing industrial sector in countries such as India, China, Malaysia, Indonesia, and others.
- Furthermore, many well-established players in Asia-Pacific are focused on the development of innovative energy cable technologies, which is likely to enhance the region's energy cable market throughout the forecast period.
- During the projected period, the energy cable market in North America and Europe is expected to grow at a moderate rate. The market in the Middle East and Africa, on the other hand, is expected to grow at a significant rate over the forecast period. The energy cable market in North America and Europe is likely to grow at a large moderate rate throughout the forecast period. In contrast, the market in the Middle East and Africa is predicted to rise at a moderately substantial rate throughout the projection period.
- Market players are adopting many strategies such as acquisition, mergers, contract, new product launch, agreement and partnership to expand their business.
- MHI Vestas has signed a two-year supply agreement with Nexans SA for Windlink cable kits. The contract involves Vestas installation in China, Europe, the United States, and Brazil for onshore wind turbines. Medium and low voltage cable kits from hubs near Vestas facilities are among the kits given.
- ABB, a Swiss automation business, signed a US$ 640 million deal in January 2017 to build a long-distance power transmission network in India that will offer stable electricity to over 80 million people. The business collaborated on this massive project alongside India's national energy grid operator, Power Grid Corporation of India Limited.
Key Benefits of the Report
- This study presents the analytical depiction of the energy cable industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the energy cable market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the energy cable market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed energy cable market analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Material
- By Voltage
- High Voltage
- Medium Voltage
- Low Voltage
- By End-User Industry
- Power Transmission
- Telecommunication
- Refineries and Oil Rigs
- Construction
- Others
- By Region
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle-East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle-East and Africa
Key Market Players
- Riyadh Cables Group Company
- Polycab India
- Nexans
- NKT Cables
- Finolex Cables
- BRUGG Cables
- Prysmian Group
- General Cable
- KEI Industries
- Encore Wire Corporation
- Bahra Cables Company
- ABB