The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and

forecasted to 2032

The global power and control cable market is on the brink of significant growth, with the market size projected to surge from $137.39 billion in 2022 to $147.25 billion in 2023, marking a noteworthy compound annual growth rate (CAGR) of 7.1%. This trajectory is expected to continue, reaching $187.15 billion in 2027 at a slightly reduced CAGR of 6.1%. One of the key drivers of this growth is the escalating adoption of smart grid infrastructure, revolutionizing the way electricity is transmitted and regulated globally.

The Role of Smart Grid Infrastructure

The increasing embrace of smart grid infrastructure, characterized by digital technologies for efficient electricity transmission, is a pivotal factor propelling the power and control cable market forward. These cables, equipped with secure super grid technology, are instrumental in constructing robust urban grids capable of transporting energy over long distances with minimal power losses. Notably, the United States witnessed a 9.09% increase in investment spending on electricity grids, rising from $77 billion in 2020 to $84 billion in 2021, as reported by the International Energy Agency. This trend underscores the growing significance of smart grid technologies and its positive impact on the power and control cable market.

Market Players and Innovations

Major players in the power and control cable market, including Prysmian S.p.A, Nexans S.A., and Polycab India Limited, are steering the industry through product innovations. These companies are investing in cutting-edge technologies to solidify their market positions. For instance, in July 2022, Remee Products Corporation, a US-based manufacturer, launched the ActivateTM line of PowerPipeTM distribution cables. These cables, catering to distributed electronics with long-distance runs, offer a more reliable and cost-effective Class 4 fault-managed power supply. The innovation is aligned with the evolving needs of smart buildings and various applications reliant on digital power technologies.

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Regional Dynamics

In 2022, North America emerged as the largest region in the power and control cable market. However, the spotlight is shifting towards Asia-Pacific, expected to be the fastest-growing region according to the global power and control cable market report.

Market Segmentation

The power and control cable market is segmented based on product type, voltage type, and application:

1. Product Type:
   • Power Cable
   • Control Cable
2. Voltage Type:
   • High Voltage
   • Medium Voltage
   • Low Voltage
3. Application:
   • Utilities
   • Industries
   • Power
   • Oil And Gas
   • Cement
   • Other Applications

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The Power And Control Cable Global Market Report 2023  provides a power and control cable market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032).  The power and control cable market forecast analyzes power and control cable market size, power and control cable market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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