Cable Accessories Market Size (2024 - 2029)

The cable accessories market is anticipated to experience growth driven by increasing electricity generation and consumption, alongside evolving power generation industry dynamics. Despite challenges such as complex project planning and funding constraints, the market is poised for expansion, particularly due to electrification projects in Africa and rural electrification in Asian countries. The Asia-Pacific region is expected to dominate the market, supported by rapid urbanization and rising electricity demand, especially in China and India.

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Market Size of Cable Accessories Industry

Cable Accessories Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Cable Accessories Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cable Accessories Market Analysis

The Cable Accessories Market is expected to grow at a CAGR of over 4% during the forecast period.

The market was moderately impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.

  • Over the medium term, factors such as the growing electricity generation and consumption, along with changing power generation industry dynamics, are expected to drive the transmission and distribution network growth, which, in turn, is expected to drive the cable accessories market.
  • On the other hand, challenges such as intricate project planning, delay in approval procedures, and funding constrictions for power projects at a global level are expected to hinder the growth of the cable accessories market.
  • Nevertheless, with rising electrification projects in Africa, cables are used for power generation transmission and distribution from substations to the customer. The increasing rural electrification in African and Asian countries is expected to offer tremendous opportunities for cable accessories market players.
  • Asia-Pacific is expected to be the largest and the fastest growing region during the forecast period, bolstered by a high urbanization growth rate and growing electricity demand, mainly from China and India.

Cable Accessories Industry Segmentation

Cable accessories are designed to connect cables, isolate the conductor from direct contact with the ground, and protect the cable from damage and erosion caused by environmental stress, UV light, and another medium.

The Cable Accessories Market is segmented by voltage level, location of deployment, and geography. By voltage level, the market is segmented into low, medium, and high. By location of deployment, the market is segmented into overhead, underground, and submarine. The report also covers the market size and forecasts for the cable accessories market across the major regions. For each segment, the market sizing and forecasts is based on the revenue (USD Billion).

Voltage Level
Low
Medium
High
Location of Deployment
Overhead
Underground
Submarine
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Cable Accessories Market Size Summary

The cable accessories market is poised for growth, driven by increasing electricity generation and consumption, alongside evolving dynamics in the power generation industry. This growth is expected to be supported by the expansion of transmission and distribution networks. However, the market faces challenges such as complex project planning, delays in approval processes, and funding constraints for global power projects. Despite these hurdles, the rising electrification initiatives in Africa and Asia present significant opportunities for market players. The Asia-Pacific region, in particular, is anticipated to be the largest and fastest-growing market, fueled by rapid urbanization and escalating electricity demand, especially in China and India.

Recent trends indicate a shift towards the deployment of underground cables, particularly in Europe and North America, where urban areas favor underground solutions due to space constraints. This trend is also gaining traction in India, where smart city projects are increasingly incorporating underground cabling. The demand for power supply is expected to rise, creating further opportunities for the cable accessories market through grid electricity networks. In the Asia-Pacific region, inadequate transmission and distribution networks in remote areas are prompting significant investments to enhance electricity access. The market is moderately fragmented, with key players like Eland Cables Ltd., ABB Limited, Prysmian SpA, NKT A/S, and Nexans SA actively participating in various projects to strengthen their market positions.

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Cable Accessories Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD Billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Voltage Level

      1. 2.1.1 Low

      2. 2.1.2 Medium

      3. 2.1.3 High

    2. 2.2 Location of Deployment

      1. 2.2.1 Overhead

      2. 2.2.2 Underground

      3. 2.2.3 Submarine

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 South America

      5. 2.3.5 Middle-East and Africa

Cable Accessories Market Size FAQs

The Cable Accessories Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Eland Cables Ltd., ABB Ltd., Prysmian SpA, NKT A/S and Nexans SA are the major companies operating in the Cable Accessories Market.

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