Cables Market Expansion 2024-2033: Growth Drivers and Dynamics

The cables global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Cables Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The cables market size has grown strongly in recent years. It will grow from <b>$87.26 billion in 2023 to $95 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the historic period can be attributed to industrial revolution impact, electricity grid expansion, urbanization and construction, automotive industry growth, televisions and electronics boom.

The cables market size is expected to see strong growth in the next few years. It will grow to <b>$132.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. </b> The growth in the forecast period can be attributed to sustainability initiatives, security and surveillance needs, space exploration and satellite communication, automotive industry shifts, energy efficiency requirements. Major trends in the forecast period include digital transformation, renewable energy expansion, 5g and broadband rollout, electric vehicle adoption, smart homes and iot.

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Scope Of Cables Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Cables Market Overview

Market Drivers –
The increase in government investment in the transmission and distribution of electricity is expected to propel the growth of the cable market. Electricity transmission refers to the large-scale movement of high-voltage electricity from a power plant to a substation, whereas power distribution refers to the conversion of high-voltage electricity at substations to lower voltages that can be distributed and used by private, public, and industrial customers. Additionally, government initiatives to expand or upgrade electricity transmission and distribution systems are favoring the demand for cables. For instance, in October 2022, according to statistical data published by the International Energy Agency (IEA), a France-based intergovernmental organization, the global investment for 2021–2030 would be approximately $310 billion in electricity distribution and $97 billion in electricity transmission. Therefore, the increase in investments in the transmission and distribution of electricity is driving the cable market.

Market Trends –
Product innovations have emerged as a key trend gaining popularity in the cables market. Major companies are introducing innovative products and delivering products with robust performance that can withstand extreme environments and maximize space utilization compared to other traditional cables. For instance, in August 2021, Belden a US-based manufacturer of networking, connectivity, and cable products launched Belden DataTuff Cat 6A, Belden OSDP Access Control Cables, and Alpha Wire ThermoThin Hook-Up Wires. These products provide dependable, robust performance in high-movement, harsh-environment applications. It is designed for compact industrial spaces and offers torsion tolerance. It connects security and access control systems with high levels of security, flexibility, convenience, and efficiency.

The cables market covered in this report is segmented –

1) By Installation: Overhead, Underground, Submarine
2) By Voltage: High, Medium, Low
3) By End-User: Industrial, Aerospace And Defence, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users

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Regional Insights –
Asia-Pacific was the largest region in the cables market in 2023. The regions covered in the cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the cables market report are Prysmian Group, Nexans S.A., The Furukawa Electric Co. Ltd., Sumitomo Corporation, Belden Incorporated, Fujikura Ltd., Leoni AG, LS Cable & System Ltd., NKT A/S, Southwire Company LLC, ABB Ltd., Polycab India Ltd., Huawei Technologies Co. Limited, Axon Cable SAS, KEI Industries Ltd., General Cable Corp., Encore Wire Corporation, Finolex Cables Ltd., Bahra Cables Company, Brugg Kabel AG, Riyadh Cables Group Company, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Lapp Tannehill, Dacon Systems Inc., American Wire Group, CommScope Holding Company Inc., Sterlite Technologies Limited, Aksh Optifibre Ltd., Paramount Communications Ltd.

Table of Contents

1. Executive Summary
2. Cables Market Report Structure
3. Cables Market Trends And Strategies
4. Cables Market – Macro Economic Scenario
5. Global Cables Market Size and Growth
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31. Global Cables Market Competitive Benchmarking
32. Global Cables Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cables Market
34. Cables Market Future Outlook and Potential Analysis
35. Appendix

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