Power Wire Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0097643
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.81 |
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The Power Wire Market size is estimated to grow at a CAGR of 7.92% between 2022 and 2032. The market size is forecast to increase by USD 3,567.45 million. The growth of the market depends on several factors, including the increasing demand for reliable power transmission and distribution infrastructure, the rising adoption of renewable energy sources, and the growing need for efficient electrical systems. Power wires are essential components of electrical systems that are used for transmitting and distributing electrical energy from power generation sources to end-users. They play a crucial role in ensuring the safe and efficient delivery of electricity.
Power Wire Market Overview:
Drivers:
One of the key factors driving the power wire market growth is the increasing demand for reliable power transmission and distribution infrastructure. With the growing population and urbanization, there is a rising need for robust electrical grids and transmission networks to meet the increasing electricity demand. Power wires, such as overhead lines and underground cables, are crucial for transmitting electricity over long distances and delivering it to residential, commercial, and industrial consumers. The expansion and modernization of power infrastructure, particularly in developing economies, are driving the demand for power wires.
Moreover, the rising adoption of renewable energy sources is also driving the market growth. Renewable energy generation, such as solar and wind power, is gaining traction worldwide due to its environmental benefits and decreasing costs. Power wires are essential for connecting renewable energy generation facilities to the grid and distributing the generated electricity to consumers. The integration of renewable energy sources into the power grid requires the deployment of efficient power wire systems to ensure reliable and stable power transmission.
Trends:
A key trend shaping the power wire market is the increasing focus on energy efficiency and sustainability. Governments and organizations worldwide are implementing stringent energy efficiency regulations and promoting the use of energy-efficient electrical systems. Power wires with low resistance and high conductivity are crucial for minimizing energy losses during transmission and distribution. Manufacturers are developing power wires with advanced materials and designs to enhance their energy efficiency and reduce environmental impact. Additionally, the use of smart grid technologies and digital monitoring systems in power wire networks is gaining prominence as it enables real-time monitoring, fault detection, and optimization of power transmission.
Furthermore, there is a growing demand for high-voltage power wires to support the transmission of electricity over long distances. High-voltage power transmission is essential for interconnecting regional power grids and facilitating the efficient transfer of electricity between different geographical areas. Manufacturers are developing high-voltage power wires with enhanced insulation properties and higher current-carrying capacity to meet the increasing demand for long-distance power transmission.
Restraints:
One of the key challenges hindering the power wire market growth is the volatility in raw material prices. Power wires are primarily made of copper or aluminum, which are subject to price fluctuations in the global commodities market. Fluctuating raw material prices can impact the manufacturing costs of power wires and pose challenges for market players in terms of pricing and profitability. Additionally, the availability of high-quality raw materials and the dependence on imports for certain regions can further affect the cost and supply chain of power wires.
Power Wire Market Segmentation By Application:
The power transmission segment is estimated to witness significant growth during the forecast period. Power transmission wires are used for transmitting electricity at high voltages over long distances from power generation plants to substations. These wires are designed to handle high currents and minimize power losses during transmission. The increasing demand for electricity, the expansion of power generation capacities, and the interconnection of regional power grids are driving the demand for power transmission wires.
The power distribution segment is also expected to contribute to the market growth. Power distribution wires are used for delivering electricity from substations to end-users, including residential, commercial, and industrial consumers. These wires are designed to distribute electricity at lower voltages and ensure safe and reliable power supply to consumers. The growing need for efficient power distribution infrastructure, the expansion of urban areas, and the electrification of rural areas are driving the demand for power distribution wires.
Power Wire Market Segmentation By Type:
The copper-based power wire segment is expected to dominate the market during the forecast period. Copper wires offer several advantages, including high electrical conductivity, excellent corrosion resistance, and good mechanical properties. Copper-based power wires are widely used in power transmission and distribution systems due to their superior electrical performance and reliability. The increasing demand for high-quality power transmission and distribution infrastructure, particularly in developed economies, is driving the growth of this segment.
Regional Overview:
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North America is estimated to contribute significantly to the growth of the global power wire market during the forecast period. The region has a well-established power infrastructure and a high demand for reliable electricity supply. The replacement and upgrade of aging power infrastructure, the integration of renewable energy sources, and the increasing focus on energy efficiency are driving the demand for power wires in North America. The presence of key market players, technological advancements, and favorable government initiatives supporting power infrastructure development further support market growth in this region.
Europe is also expected to witness substantial growth in the power wire market. The region has a strong emphasis on renewable energy generation and energy efficiency. The increasing investments in renewable energy projects, the interconnection of regional power grids, and the implementation of smart grid technologies are driving the demand for power wires in Europe.
Power Wire Market Customer Landscape:
The power wire market industry report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Power Wire Market Companies?
Companies are implementing various strategies, such as product launches, partnerships, mergers and acquisitions, and geographical expansion, to enhance their presence in the market.
Some of the major companies operating in the power wire market include:
- Prysmian Group
- Nexans S.A.
- Southwire Company, LLC
- General Cable Technologies Corporation
- LS Cable & System Ltd.
- Furukawa Electric Co., Ltd.
- Encore Wire Corporation
- TPC Wire & Cable Corp.
- Belden Inc.
- ABB Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about key market players. Data is qualitatively analyzed to categorize companies based on their market presence and strength.
Segment Overview:
The power wire market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
o Power Transmission
o Power Distribution
- Type Outlook (USD Million, 2019 - 2032)
o Copper-based
o Aluminum-based
o Others
- Geography Outlook (USD Million, 2019 - 2032)
o North America
- The U.S.
- Canada
o Europe
- K.
- Germany
- France
- Rest of Europe
o Asia Pacific
- China
- India
o South America
- Brazil
- Argentina
- Rest of South America
o Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENTS: GLOBAL Power Wire MARKET
Chapter 1. MARKET SYNOPSIS
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. EXECUTIVE SUMMARY
2.1. Summary Snapshot, 2016 – 2027
Chapter 3. INDICATIVE METRICS
3.1. Macro Indicators
Chapter 4. Power Wire MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. Power Wire Segmentation Analysis
4.2. Industrial Outlook
4.3. Price Trend Analysis
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.5.1. Power Of Suppliers
4.5.2. Power Of Buyers
4.5.3. Threat Of Substitutes
4.5.4. Threat Of New Entrants
4.5.5. Competitive Rivalry
Chapter 5. Change Power Wire MARKET BY type INSIGHTS & TRENDS
5.1. Segment 1 Dynamics & Market Share, 2019 & 2027
5.2. High Voltage Power Wire
5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
5.3. Medium Voltage Power Wire
5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
5.4. Low Voltage Power Wire
5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 6. Power Wire MARKET BY Application INSIGHTS & TRENDS
6.1. Segment 2 Dynamics & Market Share, 2019 & 2027
6.2. Overland
6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.3. Underground
6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.4. Submarine
6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 7. Power Wire MARKET REGIONAL OUTLOOK
7.1. Power Wire Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America Power Wire Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.2. North America Power Wire Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.3. North America Power Wire Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.4. North America Power Wire Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S Power Wire Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.5.2. U.S. Power Wire Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.5.3. U.S. Power Wire Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.5.4. U.S. Power Wire Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada Power Wire Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.6.2. Canada Power Wire Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.6.3. Canada Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.6.4. Canada Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3. EUROPE
7.3.1. Europe Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.2. Europe Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million
7.3.3. Europe Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.4. Europe Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.5.2. Germany Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.5.3. Germany Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.5.4. Germany Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.6.2. France Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.6.3. France Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.6.4. France Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.7.2. U.K. Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.7.3. U.K. Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.7.4. U.K Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.2. Asia Pacific Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.3. Asia Pacific Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.4. Asia Pacific Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.5.2. China Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.5.3. China Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.5.4. China Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.6.2. India Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.6.3. India Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.6.4. India Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.7.2. Japan Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.7.3. Japan Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.7.4. Japan Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.8.2. Australia Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.8.3. Australia Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.8.4. Australia Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.5.2. Mea Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.5.3. Mea Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.5.4. Mea Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America Power Wire Estimates And Forecast, 2016 – 2027, (USD Million)
7.6.2. Latin America Power Wire Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.6.3. Latin America Power Wire Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.6.4. Latin America Power Wire Estimates And Forecast By Production Process, 2016 –2027, (USD Million)
7.6.5. Latin America Power Wire Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
Chapter 8. COMPETITIVE LANDSCAPE
8.1. Market Share By Manufacturers
8.2. Strategic Benchmarking
8.2.1. New Product Launches
8.2.2. Investment & Expansion
8.2.3. Acquisitions
8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures
8.3. Vendor Landscape
8.3.1. North American Suppliers
8.3.2. European Suppliers
8.3.3. Asia-Pacific Suppliers
8.3.4. Rest Of The World Suppliers
Chapter 9. COMPANY PROFILES
9.1 Prysmian Group
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Insights
9.1.4. Strategic Initiatives
9.2 Nexans
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Insights
9.2.4. Strategic Initiatives
9.3 Sumitomo Electric
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Insights
9.3.4. Strategic Initiatives
9.4 Furukawa
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Insights
9.4.4. Strategic Initiatives
9.5 General Cable
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Insights
9.5.4. Strategic Initiatives
9.6. Southwire
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Insights
9.6.4. Strategic Initiatives
9.7. Leoni
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Insights
9.7.4. Strategic Initiatives
9.8. LS Cable & Systems
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Insights
9.8.4. Strategic Initiatives
9.9 Fujikura
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Insights
9.9.4. Strategic Initiatives
9.10. Far East Cable
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Insights
9.10.4. Strategic Initiatives
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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