Cable Accessories Market by Application and Geography - Forecast and Analysis 2020-2024

The cable accessories market size has the potential to grow by USD 6.91 billion during 2020-2024, and the market's growth momentum will accelerate at a CAGR of 3.47%. 

This report provides a detailed analysis of the market by application (low voltage, medium voltage, and high voltage), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including: 

 

• 3M Co.
• ABB Ltd.
• Hubbell Inc.
• Kabelwerk Eupen AG
• Nexans SA
• Prysmian Spa
• Southwire Co. LLC
• Sumitomo Corp.
• TE Connectivity Ltd.
• Trelleborg AB

 

The cable accessories market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players are also significantly leveraging external market drivers such as large-scale deployment of explosion-resistant cable terminations to achieve growth opportunities. However, factors such as faults in cable terminations and joints resulting in cable failure will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the cable accessories market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This cable accessories market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Cable Accessories Market: Key Drivers and Trends

Large-scale deployment of explosion-resistant cable terminations has been driving the cable accessories market growth. High-temperature internal power arcs represent one of the worst-case scenarios in the use of self-supporting, fluid-filled cable terminations. The terminations cause rapid vaporization. The resulting thermal expansion of the insulating medium could over-pressurize the environment, creating a chance for explosion and inflict collateral damage to nearby network equipment. Cable accessory manufacturers have developed explosion-resistant terminations to prevent the damages.

Vendors are developing cable accessories such as renewable cable protection system, which enhances the durability of cables that ensures a longer life. With the growing need to become fossil-free energy producers, countries across the globe are focusing on the adoption of renewable energy sources for power generation. The above-mentioned factors will drive the adoption of renewable cable protection systems, which will be one of the critical cable accessories market trends.

 

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Cable Accessories Market: Segmentation by Geography

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49% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for cable accessories in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing adoption of renewable energy technology in major developing nations is one of the prime factors that will facilitate the cable accessories market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Cable Accessories Market: Segmentation by Application

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The maximum use of cable accessories is witnessed at the low voltage end of the T&D network. The consumption of electrical energy is ever increasing, especially in developing regions such as APAC, where the demand majorly arises from China, India, and other notable Southeast Asian countries. These nations are undergoing large-scale urbanization and industrial growth that is driving the demand for electric power, which, in turn, is aiding the growth of the cable accessories market in the low voltage segment significantly. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the cable accessories market size. Fetch actionable market insights on post COVID19 impact on each segment.   

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• Cable Accessories Market in US 2017-2021

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Cable Accessories Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive cable accessories market growth during the next five years
• Precise estimation of the cable accessories market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cable accessories industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cable accessories market vendors

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