Outlook on the cable accessories global market to 2030

The “Cable Accessories Market by Voltage, Installation and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

The global cable accessories market was valued at $49.5 billion in 2020, and is projected to reach $99.3 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030.

Cable accessories are the components that are used to strengthen power cables and protect them from deterioration. Types of cable accessories used for power cables are cable glands, plugs & connectors, cable tools, cable conduit, cable ties, cable terminals, and others. These power cable accessories are used in various applications including power generation, transmission & distribution, railways, building & construction, data centers, and others. Cable accessories offers various advantages to cable infrastructure such as high insulation strength, protection from wear & tear, longer life, reliability, and others.

Rise in demand for power, with rapid industrialization and urbanization increases demand for power grid infrastructure, significantly contributes toward growth of the global cable accessories market. In addition, the rise in demand for cable accessories from power generating plants, transmission & distribution network, building & construction and others is expected to fuel growth of the market during forecast period. However, disadvantages associated with variation in stretching of cables and severe environmental conditions are expected to hamper growth of the market, globally. Conversely, the rise in investments toward R&D to improve quality of cable accessories is expected to create potential growth opportunities for key players operating in this market.

The global cable accessories market is segmented on the basis of voltage, installation, end user, and region. Depending on voltage, the market is divided into low, medium, and high. On the basis of installation, it is categorized into overhead and underground. As per end user, it is classified into industrial and renewables. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
• A comprehensive analysis of the factors that drive and restrict the growth of the global cable accessories market is provided.
• Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
• Estimations and forecast are based on factors impacting the global cable accessories market growth, in terms of value.
• Key market players are profiled to gain an understanding of the strategies adopted by them.
• This report provides a detailed analysis of the current global cable accessories market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.

Market Dynamics

Drivers

• Rapid industrialization & urbanization
• Rapid development and investment in the renewable energy sector

Restraints

• Failure of cable accessories and volatile prices of raw materials

Opportunity

• Increase in investment on electrification of remote & rural area and rapid growth of the electric vehicle sector

Companies Profiled

• ABB, Ltd.
• Dubai Cable Company
• Elsewedy Electric
• Furukawa Electric Co., Ltd.
• LS Cable & System Ltd.
• Nexans S. A.
• NKT A/S
• Prysmian Group
• Sumitomo Electric Industries, Ltd.
• Tele-Fonika Kable Group PR Newswire