About Electrical cable
An Electrical cable is known as the conductor of electricity which is made up of two or more insulated wires wrapped in one jacket. It is used to carry electrical current from the power source to the end user device, like an outlet or light. An electrical cable is used in electrical and communication fields. The market of the Electrical Cable is rising continuously due to the growing renewal of existing cable connection with the new one, also the development in the electronics sector is booming a lot in the electrical cable market.
|Value (USD Million)
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Southwire (United States), General Cable (United States), Superior Essex (United States), Commscope (United States), Prysmian Group (Italy), Nexans (France), Grupo Condumex (United States), Corning (United States), Sumitomo Electric Industries (Japan) and Belden (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Furukawa Electric (Japan), Jiagnan Group (China), LS Cable & System Ltd (South Korea) and Polycab Wires Private Limited (India).
AMA Research has segmented the market of Global Electrical cable market by Type (Unshielded Twisted Pair (UTP) Cable, Shielded Twisted Pair (STP) Cable, Coaxial Cable, Fiber Optic Cable and Others) and Region.
On the basis of geography, the market of Electrical cable has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Product Installation, the sub-segment i.e. Overground will boost the Electrical cable market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End user, the sub-segment i.e. Aerospace and defense will boost the Electrical cable market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Demand for flexibility and customization of electrical cables is increasing and Huge demand for insulated cable
Market Growth Drivers:
Rapid urbanization and rising global population and Renewal of existing power transmission and distribution network
Declining growth in the production of appliances and other electrical equipment
Electronic devices which rely on wireless technology is reducing demand for the electrical cable
Cables manufacturers are developing new products and systems which can adapt to their varying demands, thus offering numerous opportunities to the electrical cable segment
Market Leaders and their expansionary development strategies
In November 2022, Nexans SA has acquired Reka Industrial Plc to acquire Reka Cables. This acquisition will strengthen Nexans’ position in the Nordics notably in electric cable Distribution and Usages.
In March 2023, Ravin Group, a major Indian cable manufacturer, launched a ‘Theft-free’ cable at ELECRAMA 2023. Ravin’s ‘Theft-free cable’ features a single cable which offers a three-wire system. In this concentric-core cable, neutral and earthing function is fulfilled by the conductor immediately under the outermost jacket, while the conductor at the core would carry the live current. This approach to cable construction seeks to minimise instances of electricity theft. The maximum voltage rating of this cable is 600/1000 Volt.
The U.S. government encourages the smart grid implementation through The Energy Independence and Security Act, NIST Smart Grid Framework and Roadmap, National Science & Technology Council Smart Grid IAWG & Smart Grid Task Force, and Federal Energy Regulatory Commission and Development of smart cities across the country under smart cities mission coupled with increasing number of electronic devices per household and development of manufacturing industries under the Make in India' initiative
Key Target Audience
Electrical cable Industry Investors, Electrical cable Providers/Vendors, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Product Suppliers/ Buyers, Research Institutes, Original Equipment Manufacturer, Component Supplier, Distributors, Government Body & Associations and End user
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.