PORTLAND, OREGON, UNITED STATES, October 6, 2021 /EINPresswire.com/ — According to report published by Allied Market Research, titled, “Power Cable Market by Installation Type (Overhead, Underground, and Submarine), Voltage (Low, Medium, and High), and End Use (Residential, Commercial, Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global power cable industry size was valued at $143.01 billion in 2020, and is projected to reach $262.54 billion by 2030, registering a CAGR of 6.5%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by North America and Europe.
The power cable market is projected to depict a prominent growth during the forecast period, owing to various factors, such as rise in trend of renewable energy generation around the globe and increase in deployment of new power grid infrastructure. Moreover, surge in implementation of smart grids boosts the growth of the market. However, the complexity in deployment planning of power cable along with the delays in authorization from governments is projected to hamper the growth of the market during the forecast period. On the contrary, upsurge in demand for power all over the world creates lucrative growth opportunities for the market growth.
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The research methodology of the global Power Cable Market takes in extensive primary and secondary research. The primary study encompasses an in-depth evaluation of an array of driving forces, whereas, the secondary research involves a significant overview of the products & services. Furthermore, a lot of relevant and government sites, press releases, and industry journals have been thoroughly probed to call forth high-value industry insights.
At the same time, it is very much important to comprehend to the overall value chain to attain a deep understanding of the industry. To pull off this aspect, Allied Market Research accumulates data from the top officials in the industry. Simultaneously, technical data is also collected from the intellectual property standpoint, while technical trends are obtained through detailed assessments, technical meetings, and trade communiqués & reports. This study portrays an informative depiction of the global market along with the current drifts and future assessments to prop up the investment pockets.
COVID-19 scenario analysis
The COVID-19 has impacted severely on the global electrical and electronics sector, due to which production facility as well as new projects have stalled which in turn have the significant demand in the industries. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the power cable market in 2020.
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The global Power Cable Market report provides a comprehensive analysis of major market players such as Prysmian Group, ABB, Nexans, General Cable, NKT Cable, Encore Wire Corporation, Finolex Corporation, Brugg Cables, Riyadh Cable Group Company, Polycab India, and KEI Industries.
Furthermore, prominent strategies such as product launch, business expansion, acquisition, and others are adopted by leading players to strengthen their business reach and position in the global Power Cable Market.
Key Benefits for Power Cable Market:
• This study comprises an analytical depiction of the global Power Cable Market share with current trends and future estimations to depict the imminent investment pockets.
• The overall Power Cable Market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The Power Cable Market report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The global Power Cable Market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
• Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the Power Cable Market.
• The report includes the Power Cable Market share of key vendors and Power Cable Market trends.
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Key Market Segments
By Installation Type
By End Use
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Source: EIN Presswire