Asia Pacific Solar Cable Market Size - By Type (PW wire, USE-2 wire, THHN wire), By End Use (Residential, Commercial, Industrial), By Current (AC, DC), Country Outlook & Forecast, 2024 – 2032

Asia Pacific Solar Cable Market Size

Asia Pacific Solar Cable Market was valued at USD 1.3 billion in 2023 and is estimated to grow at a CAGR of over 8.3% from 2024 to 2032.
 

Increasing awareness of environmental sustainability, government incentives, along with surge in solar installations will drive the demand for solar cables. Rising adoption of solar energy and shifting focus toward environmental consciousness amongst both industries and consumers will drive the transition towards clean energy solutions. For instance, according to the IEA, the global solar photovoltaics (PV) installed capacity increased by more than 22% between 2021 and 2022. In addition, it will support towards a greener and more sustainable energy framework across the region.
 

Asia Pacific Solar Cable Market Trends

Rising adoption of solar power installations and proactive government initiatives will propel the market growth. Increasing emphasis on sustainable energy sources and surge in solar projects will enhance the demand for specialized solar cables. Supportive government policies and financial incentives to encourage solar energy, will further propel the market expansion.
 

Asia Pacific Solar Cable Market Analysis

The PW wire segment is anticipated to exceed USD 900 million by 2032, owing to the inherent characteristics of PW wire, comprising enhanced durability, weather resistance, and superior performance in photovoltaic systems. The ability to withstand harsh environmental conditions, including exposure to sunlight and extreme temperatures, makes it a preferred choice for solar installations, ensuring reliable and long-lasting connectivity. Furthermore, their role is pivotal in maintaining the integrity and efficiency of solar energy networks, thereby driving the growth and sustainability of the solar cable market.
 

The industrial sector is projected to attain a CAGR of more than 8% through 2032, owing to the rising adoption of solar energy solutions among industrial enterprises. Growing focus on sustainable practices along with the requirement to reduce the carbon footprint will augment the industry landscape. Moreover, increasing investments in renewable energy infrastructure coupled with supportive government policies favoring solar initiatives, will drive the product demand.
 

The China solar cable market size to surpass USD 800 million by 2032, on account of increasing demand for clean energy solutions, notably solar power, driven by China's heightened focus on sustainable development. The country's strength in manufacturing enables economies of scale, driving down costs and making solar energy more accessible. Additionally, favorable government policies and incentives aimed at encouraging the adoption of renewable energy sources will propel the market growth.
 

Asia Pacific Solar Cable Market Share

Companies including Prysmian, Nexans, Belden hold a significant revenue share in the solar cable industry can be attributed to their comprehensive product offerings, cutting-edge technology, and a global presence. These companies consistently invest in research and development, ensuring innovative solutions that meet diverse customer needs.
 

Asia Pacific Solar Cable Market Companies

Some of the major key players in Asia Pacific solar cable industry include:

• ABB
• Allied Wire & Cable
• Alpha Wire
• Belden Inc.
• Casmo Cable
• CommScope
• General Cable
• Havells
• Helukabel
• KEI Industries
• Leoni Cables
• LS Cable and System
• Nexans SA
• Northwire Inc.
• Polycab
• Prysmian Group
• RR Kabel
• Southwire Company LLC
• TE Connectivity Ltd.
   

Asia Pacific Solar Cable Industry News

• In January 2024, a joint initiative aimed at tackling obstacles surrounding the implementation of the Solar DC Cable Standard, the International Copper Association India (ICA India) and the National Solar Energy Federation of India (NSEFI) convened a roundtable session in New Delhi. The primary objective was to deliberate on the Quality Control Order (QCO) requirements concerning Solar DC Cables.
   
• In January 2023, Nexans and TriMet embarked on a collaborative venture aimed at developing a material utilizing recycled aluminium for the production of aluminium rods utilized in electrical cables. The primary objective of this partnership is to minimize carbon emissions, leveraging the material's ability to meet the necessary technical specifications regarding mechanical properties and conductivity of the alloy.
   

This Asia Pacific solar cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Tonnes” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Type

• PW wire
• USE-2 wire
• THHN wire

Market, By End Use

• Residential
• Commercial
• Industrial

Market, By Current

• AC
• DC

The above information has been provided for the following countries:

• China
• India
• Japan
• South Korea
• Australia