A solar cable is an interlinked cable that is used for interconnecting solar panels and other electrical components in the photovoltaic power generation industry. Quick mounting, UV protection, lifelong reliability, outdoor longevity, mobility, and stripping capability are some of the features that make solar cables suitable for industrial applications. In compliance with environmental regulations, these cables are flame-retardant and completely recyclable. A solar cable is a cable used in the development of photovoltaic electricity. Solar cables are designed to be resistant to UV and climate.
MARKET SCOPE
The "Global Solar cables market Analysis to 2028" is a specialized and in-depth study of the Solar cables market with a special focus on the global market trend analysis. The report aims to provide an overview of Solar cables market with detailed market segmentation by material, application, and geography. The global Solar cables market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Solar cables market players and offers key trends and opportunities in the Solar cables market.
MARKET SEGMENTATION
-The global solar cables market is segmented on the basis of material, and application.
-On the basis of material, the market is divided into copper, aluminum, and others.
-On the basis of application, the market is segmented on the basis of residential, and nonresidential.
Drivers
-Solar photovoltaic industry is an eco-friendly industry, and is anticipated to play a significant role in resolving energy problems. Development of the solar photovoltaic industry is the primary factor that drives the growth of the solar cables market growth.
-Fluctuating prices of raw materials, such as copper, restrict the market growth.
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 solar cables 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 solar cables market in these regions.
IMPACT OF COVID-19 ON SOLAR CABLES MARKET
COVID-19 had an immediate impact on the worldwide solar cablessector due to social distancing norms and a labour shortage. As a result, new projects were cancelled and installations were postponed.
Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. In many countries, the economy has dropped due to halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown. The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper growth of the industry during the COVID-19 pandemic. Due to a scarcity of resources in various parts of the world, the COVID-19 pandemic has impacted negatively on the commercial and industrial sector. The industry's top players are concerned about market's prospects and are rethinking their strategies to meet the challenge.
MARKET PLAYERS
The report covers key developments in the solar cables 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 multi fuel generatormarket market are anticipated to lucrative growth opportunities in the future with the rising demand for solar 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 Solar 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.
-Allied Wire & Cable, Inc.
-Amphenol Industrial Products Group
-Eldra B.V.
-General Cable Corporation
-KBE Elektrotechnik GmbH
-Lapp Group
-Lumberg Group
-Ningbo Pntech New Energy Co., Ltd.
-Phoenix Contact GmbH & Co. KG
-Taiyo Cable Tech Co., Ltd.