MARKET OVERVIEW
A power cable is used in transmission of electrical energy in several applications. The increasing demand for these products is attributable to the growing applications across diverse industries. The presence of several large scale power cable manufacturers, coupled with the variations in product offerings, will have a positive impact on the growth of the market in the coming years. The increasing awareness regarding the depletion of non-renewable sources and the focus on renewable energy sources will lead to a wider product adoption across the world. The use of these products in energy harnessing projects and infrastructure development activities will lead to a wider product adoption across the world. The rising concerns surrounding global warming and climate change will have a positive impact on the growth of the market in the foreseeable future.
MARKET SCOPE
The "Global Power cables Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Power cables market with detailed market segmentation by installation, application, and geography. The global Power cables market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Power cables market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- The global Power cables market is segmented on the basis of installation, and application.
- On the basis of installation, the Power cables market is segmented into overhead, underground, and submarine.
- Similarly, on the basis of application the Power cables market is bifurcated into residential, commercial, and industrial utility.
MARKET DYNAMICS
Drivers:
- Increasing Number of Company Mergers Will Bode Well for Market Growth
- Asia Pacific to Account for the Highest Share; Rising Demand for Electricity in Several Countries to Aid Growth.
Restraints:
- The complexity in deployment planning of power cable along with the delays in authorization from governments may hamper growth of the market during forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Power cables oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Power cables oil market in these regions.
IMPACT OF COVID-19 ON POWER CABLES MARKET
The global power cable industry has been significantly impacted by the COVID-19 outbreak. The production facilities of the electronics and semiconductors have been halted, owing to the slowdown and unavailability of the workforce across the globe. COVID-19 outbreak has caused a significant and protracted drop in manufacturing utilization, and travel bans & facility closures kept workers out of their factories, which led to slowdown in the growth of the power cable market revenue in 2020. The Asian and European countries under lockdowns have suffered major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the electrical cable market in 2020.
However, the negative impact of COVID-19 on the power cable market is expected to be there for a short period of time, and by early 2021 the market is anticipated to observe robust recovery rate along with the extensive demand for power cable products post pandemic. This is due to the fact that a rise in number of market players are reassessing their strategies and coming up with quick responses to stabilize their supply chain
MARKET PLAYERS
The report covers key developments in the Power cables oil market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Power cables oilmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for Power cables market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Power cables market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Prysmian Group
- ABB
- Nexans
- General Cable
- NKT Cables
- Encore Wire Corporation
- Finolex Cables
- Bahra Cables Company
- BRUGG Cables
- Riyadh Cables Group Company.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.