CHICAGO, March 28, 2024 /PRNewswire/ -- Americas Cables
Market is expected to reach USD 10.9
billion by 2029 from USD 8.7
billion in 2024 at a CAGR of 4.5% during the forecast
period according to a new report by
MarketsandMarkets™. The Americas Cables Market is seeing
strong expansion, driven by a variety of segments. The insulation
and polymer types such as HEPR, EPR/EPDM, XLPE, and semiconducting
polymer guarantee improved cable performance, safety, and
dependability at various voltage levels. In order to address the
increasing need for power distribution and communication networks,
low-voltage cables serve both the residential and commercial
sectors. Using these cables—underground or underwater—ensures
effective and dependable transmission, assisting with the
development of infrastructure and renewable energy initiatives.
Additionally, the integration of renewable energy sources, grid
modernization, and industrial growth are driving up demand for
cables, including those rated up to 138 kV. The demand for
innovative cable solutions is being driven by the industrial,
commercial, and renewable energy sectors, which are important
end-users that support economic growth, sustainability, and energy
transition activities in the Americas.
Browse in-depth TOC on "Americas Cables
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60 – Figures
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Americas Cables Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$8.7
billion
|
Estimated Value by
2029
|
$10.9
billion
|
Growth Rate
|
Poised to Grow at
a CAGR of 4.5%
|
Largest
Market
|
North
America
|
Market Size Available
for
|
2022-2029
|
Forecast
Period
|
2024-2029
|
Forecast
Units
|
Value (USD)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Polymer and Insulation
type, Semiconducting Layer, Voltage rating, Application, End User
and Region
|
Geographies
Covered
|
North America, South
America, and Central America
|
Key Market
Opportunities
|
Strong focus on
increasing power generation capacity
|
Key Market
Drivers
|
Integration of
renewable energy sources into industrial facilities to reduce
carbon footprint
|
Up to 5 kV, by voltage, is expected to be the fastest-growing
segment during the forecast period.
Based on voltage, the Americas Cables Market has been split into
up to 5 kV, 5-8 kV, 8-15 kV, 15-35 kV, 35-46 kV, 69 kV, 115 kV, and
138 kV. The up to 5 kV cables are versatile, and used in both power
distribution and specific industrial applications. They are
suitable for energy supply in commercial buildings, industrial
plants, and infrastructure projects, where moderate voltage and
power are required. Additionally, compared to higher voltage
cables, up to 5 kV cables are more cost-effective in terms of
installation, maintenance, and operation. This makes them a
preferred choice for projects with budget constraints that still
require reliable power distribution.
The outer semiconducting layer segment, by semiconducting
layer, is expected to be the second-fastest segment during the
forecast period.
This report segments the Americas Cables Market based on the
semiconducting layer into the inner semiconducting layer and outer
semiconducting layer. Improved cable performance and safety are the
primary drivers of market growth for the outer semiconducting layer
in the semiconducting layer segment of the Americas Cables Market.
By ensuring a consistent distribution of the electric field, this
layer lowers the chance of insulation failure and electrical stress
concentrations. It fits the strict criteria of industries like
energy, telecommunications, and transportation by enhancing cable
longevity and dependability, which greatly contributes to the
rising need for sophisticated cable solutions in the area.
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South America is expected to
be the second largest region in the Americas Cables
Industry.
South America's growing
infrastructure spending, urbanization, and industrialization drive
the growth of the Americas Cables Market. The demand for
cutting-edge cable solutions is fueled by the region's emphasis on
renewable energy projects, such as wind and solar farms. Market
expansion is also aided by growing business sectors and the
requirement for dependable electricity delivery in densely
populated areas. The need for high-performance cables is fueled by
modernization efforts and South
America's changing energy landscape, which promotes the
region's economic growth.
Key Players
Some of the major players in the Americas Cables
Companies are Prysmian Group (Italy), Southwire Company, LLC (US), Nexans
(France), LS Cable & System
Ltd (South Korea) and NKT a/s
(Denmark). The major strategies
adopted by these players include sales contracts and
agreements.
Browse Adjacent Markets: Energy and Power Market
Research Reports & Consulting
Related Reports:
Submarine Power Cable Market by Core Type
(Single-core, Multi-core), Voltage (Medium, High), Conductor
Material (Copper, Aluminium), End Use (Offshore Wind, Inter-Country
& Island Connection, Offshore Oil & Gas), Type and Region -
Global Forecast to 2028
High Voltage Cables and Accessories Market by
Product Type (Cables (XLPE, EPR, HEPR, MI), Accessories (Joints,
Termination, Fittings & Fixtures), Conductor Type (Aluminum,
Copper), Installation, Voltage, End User & Region - Global
Forecast to 2028
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