Power cable market expected to reach $262.54 billion by 2030

The power cable market is projected to depict a prominent growth during the forecast period, owing to various factors, such as rise in trend of renewable energy generation around the globe and increase in deployment of new power grid infrastructure. Moreover, surge in implementation of smart grids boosts the growth of the market. However, the complexity in deployment planning of power cable along with the delays in authorization from governments is projected to hamper the growth of the market during the forecast period. On the contrary, upsurge in demand for power all over the world creates lucrative growth opportunities for the market growth.

Allied Market Research published latest report, titled, “Power Cable Market by Installation Type (Overhead, Underground, and Submarine), Voltage (Low, Medium, and High), and End Use (Residential, Commercial, Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to a report, the global power cable industry size was valued at $143.01 billion in 2020, and is projected to reach $262.54 billion by 2030, registering a CAGR of 6.5%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by North America and Europe.

The global Power Cable Market report provides an in-depth study of the market dynamics such as drivers, restraints, opportunities, and the current market scenario. The report also focuses on the subjective aspect of the industry. Furthermore, the Power Cable Market takes in the key findings, in regards to market overview and investment opportunities. At the same time, the report also encompasses the competitive landscape including comprehensive profiles of the major frontrunners in the industry.

The leading players are considered based on their revenue size, product portfolio, market share, key marketing stratagems, and overall contribution to the market growth.

Major players profiled in the report are Prysmian Group, ABB, Nexans, General Cable, NKT Cable, Encore Wire Corporation, Finolex Corporation, Brugg Cables, Riyadh Cable Group Company, Polycab India, and KEI Industries.

The global Power Cable Market share is analyzed on the basis of type, application, end user, and region. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The region across North America is classified into the U.S, Canada, and Mexico. Europe includes countries such as Germany, the UK, France, Italy, Spain, and rest of Europe. At the same time, Asia-Pacific covers countries such as Japan, China, South Korea, India, and rest of Asia-Pacific. Finally, LAMEA is segmented into Latin America, the Middle East, and Africa.

COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The Power Cable Market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the Power Cable Market growth. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the Power Cable Market sales. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.

Major Inclusions-
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the Power Cable Market share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the Power Cable Market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the Power Cable Market Growth
• Post-sales support and free customization EIN Presswire