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Governments across the region are emphasizing renewable energy adoption to reduce carbon emissions. Countries such as China, India, Japan, and Australia are heavily investing in solar and wind energy projects, creating a significant demand for high-performance power and control cables. These cables are essential for transmitting energy from renewable sources to grids and end users. Urbanization in emerging economies, particularly in Southeast Asia, is leading to substantial investments in smart cities, public utilities, and transportation systems. This urban growth drives demand for power distribution networks and control systems, requiring robust cabling infrastructure to ensure reliability and efficiency.
The rise of industrial automation, coupled with the growth of manufacturing sectors in China, India, and Vietnam, is fueling demand for control cables used in machinery, robotics, and factory operations. These cables facilitate seamless communication and power transmission, ensuring operational efficiency. Manufacturers are focusing on developing fire-resistant, halogen-free, and environmentally friendly cables to meet stringent safety regulations and sustainability goals. These advanced cables are gaining popularity in residential, commercial, and industrial applications.
The Asia Pacific market for power and control cables was reached USD 63.3 billion in 2024 and is projected to grow at a 7.2% CAGR from 2025 to 2034, driven by rapid industrialization and urbanization across the region.
The low voltage segment is projected to grow at a CAGR of over 7.1% through 2034, supported by large-scale infrastructure projects like smart cities and rural electrification initiatives.
The power cable segment is expected to surpass USD 107.6 billion by 2034 as governments in the region invest heavily in renewable energy projects, including solar and wind, to reduce carbon emissions.
The China power and control cables market is expected to exceed USD 41.8 billion by 2034, fueled by investments in modernizing power infrastructure and expanding renewable energy projects.
Key players include Belden, Bergen Cable Technology, Ducab, Encore Wire Corporation, Furukawa Electric, KEC International, Klaus Faber, LS Cable & System, Marmon Holdings, Nexans, NKT, Prysmian Group, Southwire Company, Sumitomo Electric Industries, The Okonite Company, and TPC Wire & Cable.