Power Cables Market by Installation (Overhead, Underground, Submarine), by Cable Type (Low Voltage Cable, Medium Voltage Cable, High Voltage Cable), by Voltage (Up to 240V, 240V-1kV, 1kV-15kV, 15kV-100kV, 100kV-250kV, Above 250kV), by Application (Residential, Commercial, Industrial, Utility), by By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) Forecast 2024-2032
The Power Cables Market size was valued at USD 168.28 USD Billion in 2023 and is projected to reach USD 243.17 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Power cables are often used for different purposes to transmit electrical power in homes, industries, and other places. These cables are available in low voltage cables, medium voltage cables and high voltage cables, each with their operating voltage capacity and use. Power cables have conductors as copper or aluminium, as the conductive medium and they have an insulating layer to minimize the possibility of electrical leakage and an outer shield to protect the cables against hostile environments. Power cables can be utilized in different sectors of life and industries in homes, offices, industries, and other areas that require electricity for power and distribution. The advantages of power cables consist of the efficiency of transmitting electricity power, safety and insulation together with sheathing and it can power higher electrical loads.
Increasing urbanization, growing population, and surging electricity demand are driving the market. Governments worldwide are investing heavily in power infrastructure projects, leading to a rise in power cable demand. Moreover, growing awareness regarding energy efficiency and the proliferation of renewable energy sources are contributing to market growth.
Installation:
Cable Type:
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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