According to the latest report by IMARC Group titled, “Power Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market is currently experiencing healthy growth. Looking forward, IMARC Group expects the market to exhibit a CAGR of around 5% during 2020-2025. A power cable is a current-carrying conductor that is enclosed in a protective covering. It helps in transmitting and distributing electrical energy throughout the region.
Over the years, power cables are used in a wide variety of applications, such as in ships, wind-mills and buildings; underground wires for the utility distribution network; submarines for transmission purpose; and providing a connection between generator and transformer. Apart from this, the increasing demand for electricity, along with the rapid up-gradation of existing power systems, has created a significant need for power cables across the globe. Furthermore, with the growing technological advancements in material sciences, improved synthetic materials based on fluorocarbon, thermosetting and thermoplastic materials are now widely being used in the construction of power cables. Moreover, manufacturers have introduced an intelligent cable technology that can analyze and record different parameters throughout the cable system. This technology is expected to make energy and data streams more secure and efficient in the coming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Power Cables Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being Prysmian Group, Belden Inc., Encore Wire Corporation, Finolex Cables Ltd., Fujikura Ltd., Furukawa Electric Co., Ltd., Hengtong Group, KEI Industries, L S Cable and Systems, Leoni AG, Nexans, NKT Holding, Southwire Company, Sumitomo Electric Industries, TPC Wire and Cable Corp., etc.
The report has segmented the market on the basis of Installation, Voltage, End Use and Region.
Market Breakup by Installation
3. Submarine Cables
Market Breakup by Voltage
Market Breakup by End-Use Sector
2. Oil & Gas
5. Metals & Mining
Market Breakup by Material
Market Breakup by Region
1. North America
3. Asia Pacific
4. Latin America
5. Middle East and Africa
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/power-cables-market
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