Global Cables and Accessories Market Set for Significant Growth Driven by AI and Structured Cabling Demand

The cables and accessories market is projected to grow by USD 42.2 Billion from 2024-2028, with AI reshaping the landscape and rising smart grid adoption driving growth - Technavio

NEW YORK, Sept. 24, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Cables and Accessories Market size is estimated to grow by USD 42.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.08% during the forecast period. Rising adoption of smart grid technology is driving market growth, with a trend towards increasing trend to replace existing overhead distribution lines. However, volatility in raw material costs poses a challenge - Key market players include ABB Ltd., Apar Industries Ltd., BRUGG GROUP AG, Dubai Cable Company Pvt. Ltd., EL Sewedy Electric Co., Eland Cables Ltd., Encore Wire Corp., Finolex Cables Ltd., Furukawa Electric Co. Ltd., Hexatronic Group AB, LS Cable and System Ltd., Nexans SA, NKT AS, Prysmian Spa, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Taihan Cable and Solution Co. Ltd., TE Connectivity Ltd., Tele Fonika Kable SA, and Telefonaktiebolaget LM Ericsson. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report Cables And Accessories Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 5.08% Market growth 2024-2028 USD 42.2 billion Market structure Fragmented YoY growth 2022-2023 (%) 4.73 Regional analysis North America, Europe, APAC, Middle East and Africa, and South America Performing market contribution APAC at 48% Key countries China, US, Germany, India, and Japan Key companies profiled ABB Ltd., Apar Industries Ltd., BRUGG GROUP AG, Dubai Cable Company Pvt. Ltd., EL Sewedy Electric Co., Eland Cables Ltd., Encore Wire Corp., Finolex Cables Ltd., Furukawa Electric Co. Ltd., Hexatronic Group AB, LS Cable and System Ltd., Nexans SA, NKT AS, Prysmian Spa, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Taihan Cable and Solution Co. Ltd., TE Connectivity Ltd., Tele Fonika Kable SA, and Telefonaktiebolaget LM Ericsson Market Driver Underground cables are essential components of electricity transmission and distribution systems, particularly in densely populated areas and infrastructure-heavy industries. These cables, made up of one or more insulated conductors with protective coverings, offer advantages over overhead systems, including reduced visual impact and improved safety from weather and automobile accidents. The global market for cables and accessories is experiencing growth due to urbanization, increasing power demand in commercial, industrial, and residential sectors, and the adoption of smart power transmission and distribution systems. Smart grid technology and grid interconnections are key drivers, leading to significant investments in new underground cable projects. The trend toward replacing overhead distribution lines will continue to fuel market expansion during the forecast period. The Cables and Accessories market is witnessing significant growth due to increasing power generation capacity from renewable sources like solar and wind. Grid interconnections and offshore wind farms are key trends driving demand for high voltage cables and accessories. Voltage management and installation infrastructure are crucial factors in the transmission sector. Emerging countries are investing heavily in power projects, boosting demand for cable installations, connectors, joints, insulation, lugs, and other accessories. Environmental factors are a growing concern, with a shift towards energy efficiency and reducing carbon emissions. Cross-linked polyethylene cables are gaining popularity due to their low environmental impact. The organized sector dominates the market, but the unorganized sector also presents opportunities. The infrastructure segment includes electrical networks and telecommunication networks. Smart grids and smart cities require advanced cable technologies and accessories for grid reliability and safety standards. Key players include Centelsa, Elsewedy Electric, and others. The high voltage segment and overhead segment are expected to dominate the market. E-commerce and logistics industries are driving demand for cable accessories. Urbanization, transportation networks, and energy grid upgrades also contribute to market growth. Renewable energy sources, energy efficiency, and environmental issues are major challenges and opportunities for the industry. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The power transmission and distribution industry faces various environmental challenges, including the approval process for installing transmission and distribution lines and cables. Environmental clearance, which includes forest or vegetation clearance and agreements, is a crucial approval stage. The use of hazardous substances like cross-linked polyethylene (XLPE) cables poses environmental risks and can hinder power project approvals. To mitigate these concerns, recycling aspects such as cable recovery, copper recyclability, and XLPE disposal must be addressed. Aluminum and copper are primary raw materials in cable manufacturing, accounting for about half of the production cost. Raw material price volatility, including copper, aluminum, energy, and fuel, significantly impacts cable manufacturers' costs and revenues. Price fluctuations can lead to negotiated changes in final product pricing, but implementation time lags may cause a delay in adjusting selling prices. This raw material price instability poses a significant challenge to the growth of the global cables and accessories market during the forecast period.The Cables and Accessories market faces several challenges in various sectors. Electricity demand continues to rise, necessitating power projects and upgrades to electrical networks. In the power sector, both high voltage underground and overhead cables are crucial for grid reliability. Smart grids and renewable energy sources require advanced cable technologies for energy efficiency and safety. Centelsa and Elsewedy Electric are key players, supplying cable accessories for electrical and telecommunication networks. Cable installations demand connectors, joints, insulation, and lugs. Renewable energy sources and e-commerce bring logistical challenges. Urbanization, transportation networks, and smart cities require energy grid upgrades and voltage level adjustments. Installation types include overhead and underground, each with unique challenges. Safety standards, communication infrastructure, and environmental issues are ongoing concerns. Overall, the market requires innovative solutions to meet the demands of various industries. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This cables and accessories market report extensively covers market segmentation by Type 1.1 Low1.2 Medium1.3 HighEnd-user 2.1 Industrial2.2 Renewable2.3 InfrastructureGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America 1.1 Low- The global market for low-voltage cables and accessories has experienced significant growth in recent years due to the increasing demand for electricity worldwide. With an exponential rise in energy consumers, the installation of new transmission and distribution lines is essential to meet the demand for electricity from renewable energy sources. New infrastructure, such as residential buildings and commercial offices, also requires a steady supply of electricity, leading to increased demand for low-voltage cables. In addition, the repair of old buildings necessitates the replacement of power supply networks, further boosting demand. Low-voltage cables are not only used in residential and commercial applications but also in various industrial operations involving low-voltage equipment. The petroleum, natural gas, and mining industries have been major contributors to the market's growth due to their increasing use of low-voltage cables. Copper and aluminum are the most common elements used in the production of low-voltage cables. The market's growth is expected to continue during the forecast period, driven by the expanding population and urbanization, the increasing adoption of renewable energy sources, and the growing number of small-scale industries. In conclusion, the low-voltage cables and accessories market is poised for healthy growth due to the increasing demand for electricity, the expansion of new infrastructure, and the growing adoption of renewable energy sources. The market's growth is driven by the use of low-voltage cables in various industries, including residential, commercial, and industrial applications. The use of copper and aluminum in the production of low-voltage cables further supports the market's growth. The market's growth is expected to continue during the forecast period, making it an attractive investment opportunity for businesses in the energy sector. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Cables and Accessories market encompasses a wide range of products essential for various power and telecommunication applications. Two significant sectors driving market growth are Grid Interconnections and Renewable Energy Sources. Grid Interconnections involve the integration of power systems to ensure a stable electricity grid, with offshore wind farms being a key contributor due to their increasing power generation capacity. Voltage management, installation, and infrastructure segment play crucial roles in these projects. Electricity demand continues to rise, leading to the development of new power projects, necessitating the use of extensive cable installations. Smart grids, which enhance grid reliability and energy efficiency, require advanced cable technologies and accessories such as cable connectors, joints, insulation, and lugs. Additionally, underground cables are increasingly preferred for their safety and aesthetic benefits. Telecommunication networks also rely on cable infrastructure for seamless data transmission. Safety standards and energy efficiency are paramount in the design and production of these products. Market Research Overview The Cables and Accessories Market is a significant segment of the global electrical industry, driven by the increasing power generation capacity from renewable sources such as Grid interconnections in offshore wind farms. Voltage management and infrastructure development are key focus areas in the transmission sector, with emerging countries leading the demand due to their growing electricity demand. Cross-linked polyethylene cables are gaining popularity due to their insulation properties, which reduce carbon emissions and pollution. The organized sector dominates the market, but the unorganized sector also plays a role, particularly in installation types like cable joints, lugs, and connectors. Smart grids and communication infrastructure are essential for enhancing grid reliability and safety standards. Environmental issues, energy efficiency, and e-commerce are also influencing market trends. Key applications include power projects, solar power capacity, and cable installations for telecommunication networks and transportation networks. The market includes various types of cable installations, such as overhead and underground, and cable accessories like insulation, joints, and lugs. Renewable energy sources, energy efficiency, and grid upgrades are major growth drivers, with voltage levels and installation types being crucial factors. Safety standards and communication infrastructure are also essential considerations in the market. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation TypeLowMediumHighEnd-userIndustrialRenewableInfrastructureGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/the-cables-and-accessories-market-is-projected-to-grow-by-usd-42-2-billion-from-2024-2028--with-ai-reshaping-the-landscape-and-rising-smart-grid-adoption-driving-growth---technavio-302256605.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Global Structured Cabling Market Size, is Projected to Reach USD 20.38 billion by 2030 | Exactitude Consultancy

Luton, Bedfordshire, United Kingdom, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Global Structured Cabling Market The global structured cabling market is experiencing significant growth as the world becomes more digitally connected. According to market analysis, the market size, valued at USD 12.26 billion in 2023, is projected to reach USD 20.38 billion by 2030, at a compound annual growth rate (CAGR) of 7.53%. Key players like ABB Ltd, Belden Inc., and CommScope Holding Company are driving innovation in the space, providing scalable cabling infrastructure to meet evolving demands in IT, telecommunications, and other industries. This article delves into key trends, market drivers, technological advancements, and the competitive landscape shaping the future of structured cabling. Click here for more information- https://exactitudeconsultancy.com/reports/33527/structured-cabling-market/ Structured Cabling Market Players Key players include ABB Ltd, Belden Inc., Commscope Holding Company, Inc., Corning Incorporated, Furukawa Electric Co., Ltd., Legrand Sa, Nexans, Schneider Electric, Siemens Ag, Cisco Systems Inc., Datwyler Holding Inc., Hubnetix Corp., Molex Incorporated, Tyco Electronics Corporation, L-Com Global Connectivity, Anixter International Inc., General Cable Corporation, Sumitomo Electric Industries, Ltd., Nera Networks As, Hubbell Incorporated., and others Industry Development: On September 19, 2024, iemon, a global leader in network infrastructure solutions, announced that it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design and deployment of NVIDIA AI infrastructure. On September 16, 2024, CommScope, a global leader in network connectivity, earned three Gold awards for its VisiPORT™, GigaREACH™ XL and GigaSPEED XL5™ solutions in the 2024 Cabling Innovators Awards from Cabling Installation & Maintenance magazine. Recognizing cabling and communications technology products, programs, and applications within the structured cabling industry, the Innovators Awards are determined by a panel of senior third-party judges based on outstanding innovation, value, sustainability, collaboration and impact. On February 22, 2024- Michigan-based IT solutions provider, Centaris, has acquired Network Connections, Inc. (NCI). Financial terms of the deal were not disclosed. This is technology M&A deal number 47 that ChannelE2E and MSSP Alert have covered so far in 2024. Centaris formed in 2021 through a merger between the Center for Computer Resources (CCR) and Business Communication Systems (BCS). The company is headquartered in Sterling Heights, Michigan, and has 110 employees listed on LinkedIn. Centaris' areas of expertise include managed services for Microsoft Office 365 and Teams, as well as computer systems sales and service, structured cabling, varied voice/phone solutions, telephony, cloud VoIP solutions and internet/voice carrier services. On 07 July 2023, MegaFlex DPA (Decentralized Parallel Architecture) UPS solutions were introduced for the Indian market by ABB India's Electrification business. The first sustainable UPS of its kind that complies with the ABB circularity framework and is a member of the ABB EcoSolutionsTM portfolio. It boasts the best efficiency rating and the smallest footprint as it was developed for high density computing environments. On 09 March 2023, Connect Box, an open and user-friendly Internet of Things solution created to manage small to medium-sized buildings, has been released by Siemens Smart Infrastructure. Users of Connect Box can complete crucial daily building management chores from a single location using a cloud-based interface without the need for an additional gateway or piece of software. On August 4 2021, R&M has developed a complete Single Pair Ethernet (SPE) cabling system with connectors, connection modules, and patch cords for use in building automation networks. Market Overview Structured cabling provides a standardized system for data transmission across various sectors such as IT & telecommunications, residential & commercial, government & education, and manufacturing & automation. The growing adoption of 5G, Internet of Things (IoT), and cloud-based services is a major catalyst for this growth, particularly in industries like telecommunications and data centers that demand high bandwidth. The fiber cabling segment is expected to witness rapid expansion due to its ability to handle faster and more reliable data transmission, while copper cabling remains essential in smaller networks, particularly for residential and commercial applications. Companies like CommScope Holding Inc., Corning Incorporated, and Schneider Electric are leaders in providing innovative cabling solutions to meet the evolving needs of businesses. Regionally, North America leads the structured cabling market, owing to its established IT infrastructure and high concentration of data centers. However, Asia-Pacific is projected to experience the fastest growth due to increasing investments in digital infrastructure, particularly in countries like China and India. As industries continue to digitize, the demand for robust, scalable, and sustainable cabling solutions will push the structured cabling market toward further expansion, making it a crucial backbone for modern global connectivity Click here for more information- https://exactitudeconsultancy.com/reports/33527/structured-cabling-market/ Key Drivers of Market Growth The structured cabling market is driven by several key factors contributing to its robust growth. One of the primary drivers is the increasing demand for high-speed internet and seamless connectivity, fueled by the rise of data centers, cloud computing, and the deployment of 5G networks. The expanding use of structured cabling in industries such as IT, telecommunications, and smart cities also plays a pivotal role in supporting modern digital infrastructure. Additionally, the growing adoption of the Internet of Things (IoT) and the demand for better bandwidth to support connected devices have accelerated the need for advanced cabling systems. Fiber optic cabling, which enables faster data transmission over long distances, is experiencing significant growth due to its superior performance over traditional copper cables. Moreover, automation and artificial intelligence (AI) integration into cabling management systems have further enhanced efficiency, reducing downtime and increasing productivity. Companies across sectors are investing in scalable and future-proof cabling solutions to meet rising connectivity demands, especially in regions undergoing rapid digital transformation, such as Asia-Pacific. Sustainability trends, such as energy-efficient and eco-friendly cabling materials, are also contributing to market expansion. As industries continue to digitize and expand their network capacities, structured cabling will remain a critical component of the global technological ecosystem. Challenges and Restraints The structured cabling market faces several challenges and restraints that hinder its rapid growth. One of the primary challenges is the high cost of installation and maintenance, which often deters smaller businesses from adopting advanced cabling systems. Structured cabling, particularly fiber optic cabling, requires significant upfront investment, which can be a financial burden for some organizations. Additionally, transmission losses in fiber optic systems pose another limitation, especially when compared to traditional copper cabling solutions. Another key restraint is the complexity of upgrading and maintaining structured cabling systems, which require specialized knowledge and expertise. This complexity leads to higher operational costs, particularly in environments like large data centers that need constant monitoring and scaling. Furthermore, supply chain disruptions and fluctuations in the cost of raw materials, such as copper and fiber, have added financial pressure on manufacturers and end-users alike. Lastly, as technology continues to evolve rapidly, companies may struggle to keep their cabling infrastructure future-proof. The emergence of new standards and technologies, such as 5G and the Internet of Things (IoT), requires frequent updates to existing systems, which can be both costly and time-consuming. Despite these challenges, the market continues to grow, but the high initial costs, maintenance complexity, and technological advancements remain ongoing concern. Click here for more information- https://exactitudeconsultancy.com/reports/33527/structured-cabling-market/ Market Segmentation Structured Cabling Market by Type, 2023-2030 (USD Billion) Fiber CablingCabling InfrastructureCopper Cabling Structured Cabling Market by Offering, 2023-2030 (USD Billion) ProductsCablesCommunication OutletsPatch Panels & Cross ConnectsPatch Cords & Cable AssembliesRacks & CabinetsServicesInstallation & ConsultationManaged ServicesMaintenance & SupportSoftware Structured Cabling Market by Industry Vertical, 2023-2030 (USD Billion) IT & TelecommunicationsResidential & CommercialGovernment & educationManufacturing & automationMilitary & DefenseEnergyOil & GasOthers Structured Cabling Market by Region, 2023-2030 (USD Billion) North AmericaEuropeAsia PacificSouth AmericaMiddle East and Africa Key Players ABB LtdBelden Inc.Commscope Holding Company, Inc.Corning IncorporatedFurukawa Electric Co., Ltd.Legrand SaNexansSchneider ElectricSiemens AgCisco Systems Inc.Datwyler Holding Inc.Hubnetix Corp.Molex IncorporatedTyco Electronics CorporationL-Com Global ConnectivityAnixter International Inc.General Cable CorporationSumitomo Electric Industries, Ltd.Nera Networks AsHubbell Incorporated Regional Analysis The Asia Pacific region is projected to grow the fastest, with a CAGR of 12.5% during the same period. Key factors driving the growth of structured cabling market include government initiatives to enhance infrastructure, the push for digitization, the rapid adoption of smart devices, a growing population, and investments in cloud and IoT technologies. China and Japan are the front-runners in this region, and the increase in internet usage is leading to more broadcast activities, which is expected to further boost the local market. North America is the largest market for structured cabling, holding a 34% share of the global market. This growth can be linked to its busy manufacturing and telecommunications sectors, which rely heavily on structured cabling networks. The region has seen significant advancements due to the early adoption of new technologies across various industries, including government, residential, commercial, and transportation. Additionally, the increasing use of fiber optic cables and digital services is driving the market forward. Major investments in 5G, broadband, and communication infrastructure are expected to keep North America in the lead during the forecast period. For instance, the USDA planned to invest about USD 635 million through the ReConnect Program in 2021 to develop data center infrastructure across the country. Click here for more information- https://exactitudeconsultancy.com/reports/33527/structured-cabling-market/ Competitive Landscape The global structured cabling market is competitive, featuring a mix of established players and emerging companies. Key players include Siemon Company, known for high-quality solutions; Panduit Corp., which offers a broad range of products; and CommScope, recognized for its comprehensive cabling systems. Other notable companies are Nexans, Belden, and Legrand, all focusing on innovative and sustainable practices. The market is driven by technological advancements, with firms investing in research and development to create high-speed cabling solutions. Additionally, there is a growing emphasis on sustainability, as companies seek eco-friendly materials. Strategic partnerships are also becoming common, allowing firms to enhance their product offerings and expand into new markets, especially in Asia Pacific and Latin America. However, the industry faces challenges such as intense price competition and the need to keep up with rapid technological changes. Overall, companies that adapt to these dynamics are more likely to succeed in this evolving landscape. Key stakeholders IT and Networking CompaniesData Centers and Hosting ProvidersTelecommunication CompaniesEnterprises and BusinessesGovernment and Public SectorCloud Service ProvidersSystem Integrators and InstallersHealthcare InstitutionsEducational InstitutionsRetail and E-commerce Companies Others Future Outlook The structured cabling market is poised for robust growth, driven by the accelerating pace of digital transformation across industries. With a projected market size of USD 20.38 billion by 2030, key players are well-positioned to take advantage of opportunities in cloud computing, 5G, and IoT. Technological advancements and a focus on sustainability will continue to shape the future of structured cabling, making it a vital component of the global digital infrastructure. The global demand for structured cabling will only continue to grow as industries rely on faster, more efficient data communication systems. Companies that stay ahead of the curve in technology and sustainability are set to lead the market in the forecasted period. Related Links Optical Ground Wire Cable Market Local Area Network (LAN) Cable Market Wire Compound And Cable Compound Market Electrical Insulation Materials Market Hybrid Fiber Coaxial Market Submarine Cable System Market Global Cables and Connectors Market More Research Sites: https://bulletin.exactitudeconsultancy.com/ https://www.analytica.global/ https://www.marketintelligencedata.com/ h 17.778 w 1992.917 17.778 1992.917 14 14 Irfan Tamboli (Head of Sales) - Exactitude Consultancy Phone: + 1704 266 3234 [email protected] Market News and Data brought to you by Benzinga APIs