Power and Control Cable Global Market Report 2024

The power and control cable market has grown strongly in recent years. It will grow from $147.25 billion in 2023 to $157.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. Expansion during the historical period was fueled by several factors. Primarily, the surge in industrialization, urbanization, and infrastructure development acted as catalysts for growth. Additionally, the growth in the energy sector, the expansion of manufacturing capabilities, and the integration of renewable energy sources also contributed significantly to this growth trajectory.

The power and control cable market is expected to see strong growth in the next few years. It will grow to $199.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. Anticipated growth in the upcoming forecast period is primarily driven by several key factors. Firstly, the sustained expansion of industries is expected to play a pivotal role. Additionally, initiatives focused on smart cities, the increasing electrification of transportation, advancements in power grid upgrades, and the growth of telecommunication infrastructure are poised to contribute significantly to this anticipated growth.

The anticipated surge in the power and control cable market is driven by the increasing adoption of smart grid infrastructure. Smart grid systems, employing advanced technology, monitor and regulate electricity transmission efficiently. Power and control cables, equipped with secure super grid technology, are pivotal in constructing dense urban grids for long-distance energy transmission with minimal power loss. Notably, the US investment in electricity grids rose by 9.09% from $77 billion in 2020 to $84 billion in 2021, as per the International Energy Agency, fueling the growth of the power and control cable market.

The burgeoning energy consumption worldwide is expected to fuel the growth of the power and control cable market. These cables play a critical role in transmitting and distributing electrical power across various applications, contributing significantly to overall power consumption across sectors. According to the U.S. Energy Information Administration (EIA), total end-use electricity consumption in the United States increased by approximately 2.6% in 2022 compared to 2021. Residential and commercial retail electricity sales in the US surged by about 3.5% and 3.4%, respectively, in 2022 compared to the previous year, driving the growth of the power and control cable market.

A notable trend in the power and control cable market is the focus on product innovations by major companies. These innovations aim to fortify market positions by leveraging advanced technologies. For instance, Remee Products Corporation launched the ActivateTM line of PowerPipeTM distribution cables in July 2022. These cables cater to distributed electronics, providing reliable, cost-effective Class 4 fault-managed power supply, thereby supporting digital power technologies essential for smart buildings and diverse applications.

Major companies in the power and control cable market are directing efforts towards developing PCIe connector systems. PCIe connector systems, a standard high-speed serial computer expansion bus, connect hardware devices within computers. Molex LLC, in October 2022, introduced the ‘NearStack PCIe Connector System’ and ‘Cable Assemblies’ for next-generation servers. These systems utilize direct-attached cable technology, enhancing signal integrity, reducing latency, and minimizing insertion loss. NearStack PCIe connectivity, replacing traditional paddle-card cable solutions, is optimized for next-generation PCIe Gen-5 and Gen-6 systems.

In October 2022, the German cable manufacturer Hew Kabel completed a merger with Habia Cable. This union aims to consolidate HEW-KABEL and Habia Cable into a unified entity, harnessing the collective technical and commercial prowess of both organizations. The integration intends to establish a prominent specialist cable and connectivity group, positioned to cater to the diverse needs of the global market. Notably, Habia Cable, based in Sweden, specializes in the production of specialized cables, including power cables.

Major companies operating in the power and control cable market report are Prysmian SpA, Nexans SA, Polycab India Limited, NKT A/S, Dubai Cable Company Pvt. Ltd., KEI Industries Limited, LS Cable & System Ltd., Sumitomo Electric Industries Ltd., Belden Incorporated, Furukawa Electric Co. Ltd., Southwire Company LLC, Riyadh Cables Group Company, General Cable Technologies Corporation, KEC International Ltd., Encore Wire Corporation, Hengtong Group, Leoni AG, Tyler Madison Inc., Okonite Company, TPC Wire & Cable Corp., Fujikura Ltd., Hitachi Cable Ltd., Walsin Lihwa Corp., Bahra Cables Company, Brugg Cables AG, Prysmian Group SpA, Anixter International Inc., Tratos Ltd.

North America was the largest region in the power and control cable market in 2023. Asia-Pacific is expected to be the global power and control cable market report during the fastest-growing region. The regions covered in the power and control cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power and control cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product types within the realm of power and control cables comprise power cables and control cables. Control cables specifically aid equipment automation, enabling proper functionality. They cater to various voltage requirements such as high, medium, and low voltage, catering to a wide array of applications across utilities, industries, power generation, oil and gas, cement, among others. These cables play a crucial role in ensuring operational efficiency across diverse sectors.

The power and control cable market research report provides power and control cable optical components market statistics, including power and control cable optical components industry global market size, regional shares, competitors with a power and control cable optical components market share, detailed power and control cable optical components market segments, market trends and opportunities, and any further data you may need to thrive in the power and control cable optical components industry. This power and control cable optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The power and control cable market consists of sales of ribbon electric cables, shielded cables, twisted pair cables, coaxial cables, and fiber optic cables. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.