Solar Cable Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The solar cable market size has grown rapidly in recent years. It will grow from $0.99 billion in 2024 to $1.14 billion in 2025 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to government incentives, growing solar energy capacity, environmental awareness, cost reduction in solar energy, international agreements and regulations.

The solar cable market size is expected to see rapid growth in the next few years. It will grow to $1.78 billion in 2029 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to increased solar capacity, advancements in energy storage, international commitments to clean energy, rising energy demand, infrastructure development. Major trends in the forecast period include market competition and innovation, technological advancements, cost reduction and price competitiveness, global expansion of solar projects, rising awareness of sustainable practices.

The solar cable market is anticipated to experience a boost due to increased investments in smart grid projects focused on solar energy. Smart grids, characterized by advanced information and communication technology, aim to enhance the efficiency, reliability, and sustainability of electricity production and distribution. Solar cables play a crucial role in connecting solar panels to inverters, converting direct current (DC) into suitable alternating current (AC) for grid distribution. As of July 2023, the International Energy Agency reported an 8% surge in electricity grid investments in 2022. Aligning with the Net Zero Emissions (NZE) scenario, it is imperative for annual electricity grid investments to average around USD 600 billion until 2030. Consequently, the increasing investments in smart grids are a driving force behind the growth of the solar cable market.

The rapid expansion of solar power installations is expected to drive the growth of the solar cable market. Solar power installations involve the setup and deployment of photovoltaic (PV) systems that convert sunlight into electricity. These installations rely on solar cables to efficiently and safely transmit the generated electricity from the solar panels to the inverter and other system components. For example, in October 2024, GreenMatch, a Denmark-based renewable energy service provider, projected that global solar installations could reach 4.7 terawatts by 2050, signaling continued growth in solar energy. As a result, the rapid increase in solar power installations is fueling the demand for solar cables.

Leading companies in the solar cable market are responding to this challenge by introducing innovative products, such as PV cable solutions, to enhance the durability of cables and expand their global market presence. PV cable solutions are used in photovoltaic (PV) systems to connect various components such as solar panels, inverters, and combiner boxes. For instance, in March 2023, Prysmian Group, an Italy-based manufacturing company, launched the Prysmian PRYSOLAR, a cable solution recognized for its durability and compliance with global standards EN 50618 and IEC 62930. The Prysmian PRYSOLAR can withstand wet environments, handle voltages up to 1800 V DC, and undergoes industry-first test protocols to ensure longevity, even in extreme weather conditions, with a guaranteed lifespan of over 30 years.

In September 2022, Ravicab Cables Pvt. Ltd., an India-based cable and wire manufacturing company, acquired Leoni Cable Solutions India Pvt. Ltd. for an undisclosed amount. This acquisition was aimed at expanding Ravicab Cables' market reach and product portfolio in the cable and wire sector. Leoni Cable Solutions India Pvt. Ltd. is known for providing cable solutions for industrial projects, automotive, solar, and railway products in India.

Major companies operating in the solar cable market report are Prysmian Group, Nexans S.A., JinkoSolar Holding Co., Ltd., KEI Industries Limited, Phoenix Contact GmbH & Co. KG, Leoni AG, General Cable Technologies Corporation, Atkore International Group Inc., Encore Wire Corporation, Belden Inc., Southwire Company LLC, Havells India Limited, APAR Industries Ltd., Lapp Group, HUBER+SUHNER AG, SolarWorld AG, ReneSola Ltd., HELU KABEL GmbH, Ram Ratna Group, Lumberg Connect GmbH, Tai Sin Electric Limited, Polycab India Limited, Alpha Wire Company, Allied Wire & Cable Inc., Top Cable S.A., Amphenol Industrial Products Group, TPC Wire & Cable Corp., Eldra B.V., KBE Elektrotechnik GmbH, Relemac Technologies Private Limited, Ningbo Pntech New Energy Co., Ltd.

Asia-Pacific was the largest region in the solar cable market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the Solar Cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The solar cable market consists of sales of DC solar cables, solar DC main cables, and solar AC connection 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.

Solar cable refers to a specialized type of electrical cable that comprises multiple insulated wires bundled together within an outer jacket. These cables are specifically designed to endure intense UV exposure, elevated temperatures, and various environmental conditions. Typically, solar cables are utilized externally or embedded within solar panels.

The main types of solar cables include solid and stranded varieties. Solid solar wire consists of a single conductor, providing a compact design while delivering the same current capacity as stranded wire. The materials used for solar cables encompass copper, aluminum, and others, catering to diverse applications such as solar panel wiring, underground service entrances, and service and terminal connections. Various end-users, including residential, commercial, and industrial sectors, utilize solar cables for their solar energy systems.

The solar cable market research report is one of a series of new reports that provides solar cable market statistics, including solar cable industry global market size, regional shares, competitors with solar cable market share, detailed solar cable market segments, market trends, and opportunities, and any further data you may need to thrive in the solar cable industry. This solar cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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.

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