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Europe Power and Control Cable Market Trends

Report ID: GMI7391
Published Date: Nov 2023
Report Format: PDF

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Europe Power and Control Cable Market Trends

The swift progress of digitalization and the growing embrace of intelligent artificial intelligence systems have made a significant impact on the region. While certain industries have managed to avoid the sweeping changes brought about by digitalization, the electricity sector has largely remained on the fringes of this transformation. Investments in information technology (IT) within the power sector have been somewhat restrained, with major players primarily focused on expanding their capacity within their respective domains. However, this trend is gradually changing due to increasing consumer demand for interactive and intelligent services.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe power and control cable was worth more than USD 22.1 billion in 2022 and is projected to witness 6.1% CAGR from 2023 to 2032, due to the depletion of traditional resources and rising concerns about the sustainability of escalating energy demand.

Europe power and control cable market size from the utilities applications is set to record over 5.8% CAGR from 2023 to 2032, owing to the greater emphasis by several governments on enhancing their existing Transmission and Distribution (T&D) networks.

U.K. recorded over 15.1% of the power and control cable industry share in 2022, driven by the growing emphasis on renewable energy sources in the region.

Some of the key power and control cable firms in Europe industry are Prysmian Group, Nexans, Southwire Company LLC, Belden Inc., KEC International Ltd., FURUKAWA ELECTRIC CO., LTD., LS Cable & System Ltd., NKT A/S, Sumitomo Electric Industries, Ltd., and Klaus Faber AG.