Categories: Market Research

Global Cables Market Size and Forecast 2024-2033|Prysmian Group, Nexans S.A., The Furukawa Electric Co. Ltd., Sumitomo Corporation, Belden Incorporated

The Cables Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cables Global Market Report 2024, The cables market size has grown strongly in recent years. It will grow from $87.26 billion in 2023 to $95 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. 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 $132.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. 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.

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.

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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

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 report table of contents includes:

1. Executive Summary

2. Cables Market Characteristics

3. Cables Market Trends And Strategies

4. Cables Market – Macro Economic Scenario

5. Global Cables Market Size and Growth

26. South America Cables Market

27. Brazil Cables Market

28. Middle East Cables Market

29. Africa Cables Market

30. Cables Market Competitive Landscape And Company Profiles

Top Major Players: