According to a new market report published by Lucintel, the future of the energy cable market looks attractive with opportunities in the utilities, industrial, residential, and commercial sectors. The global energy cable market is expected to reach an estimated $128.7 billion by 2023 and is forecast to grow at a CAGR of 5.2% from 2018 to 2023. The major growth drivers for this market are growth in electricity consumption due to industrialization, urbanization, electrification of rural areas, and increasing construction activities.
In this market, low voltage, medium voltage, and high voltage energy cables are used for the transmission and distribution of electricity. Lucintel forecasts that low voltage cable is expected to remain the largest segment due to growth in construction as well as automotive sector, especially in China and India. High voltage cable is expected to witness the highest growth in the forecast period supported by increasing investment on renewable power generation sources and ultra-high voltage transmission lines.
Within the energy cable market, utilities are expected to remain the largest end use market due to the continuous expansion in electrical infrastructure to fulfill growing electricity demand. The residential segment is expected to witness the highest growth in the forecast period supported by increasing construction activities and increasing demand for heating, cooling, and air-conditioning (HVAC) equipment.
Asia Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period. Economic expansion, industrialization, urbanization, and rural electrification projects, particularly in India and China, are leading the demand for energy cables.
Emerging trends, which have a direct impact on the dynamics of the industry, include the deployment of superconductors in power cables for improved performance and electron beam cross linking of power cable for durability and high current carrying capacity. Prysmian Group, Nexans S.A., Leoni AG, NKT S/A, Sumitomo Electric Industries Ltd, Encore Wire Corporation, and Southwire are among the major suppliers of energy cable.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global energy cable market by product type, voltage type, end use industries, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Energy Cable Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global energy cable market by product type, voltage type, end use industries, and region as follows:
By Voltage Type [$B shipment analysis for 2012 – 2023]:
• Low Voltage
• Medium Voltage
• High Voltage
By End Use Industries Market [$B shipment analysis for 2012 – 2023]:
By Product Type [$B shipment analysis for 2012 – 2023]:
• Low Voltage Energy Cables
• Power Cables
By Region [$B shipment analysis for 2012 – 2023]:
• North America
− United Kingdom
• Asia Pacific
− South Korea
• The Rest of the World
This 185-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include energy market report, energy industry, commercial due diligence report, business strategy consulting and market research reports online.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global energy cable market by product type (low voltage energy cables and power cables), voltage type (low voltage cables, medium voltage cables, and high voltage cables), end use industry (utilities, industrial, residential, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?