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Electrical Conductors Market for the Power Industry by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71664
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The electrical conductors market share for the power industry is expected to increase by USD 9.47 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.98%.

This electrical conductors market research report for the power industry provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the electrical conductors market segmentation for the power industry by application (power cables, transformer, busbar, and submarine power cables) and geography (APAC, Europe, North America, South America, and MEA). The electrical conductors market report for the power industry also offers information on several market vendors, including 3M Co., Alcon Marepha (Pty) Ltd., Apar Industries Ltd., CTC Global Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., Hi tech Conductors (p) Ltd., Nexans SA, Prysmian Spa, and Sterlite Power Transmission Ltd. among others.

What will the Electrical Conductors Market Size for the Power Industry be During the Forecast Period?

Electrical Conductors Market Size

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Electrical Conductors Market for the Power Industry: Key Drivers and Challenges

The rising investment in power (T&D) is notably driving the electrical conductors market growth for the power industry, although factors such as challenges faced in laying and maintaining electrical power cables may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electrical conductors market for the power industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electrical Conductors Market Driver for the Power Industry

One of the key factors driving growth in the electrical conductors market for the power industry is the rising investment in power (T&D). The global investments in the T&D sector create profit pools for key vendors globally. As a result of this, the T&D market has a lot of room for expansion, given the rising need to replace the installed base of aging transformers. The increasing technological advancements and an increase in government investments in R&D globally to expand T&D networks for power generation from renewable energy resources are expected to open up new opportunities in the electrical conductors market for the power industry. The growth in the T&D network and the increase in the demand for renewable sources will drive the demand in the global electrical conductors market for the power industry.

Key Electrical Conductors Market Challenge for the Power Industry

The difficulties faced when laying and maintaining electrical power cables will be a challenge for the electrical conductors market for the power industry during the forecast period. The first step in the installation process is the selection of the path. Any cable laying project is expected to sustain for a period of 25 years, which makes the selection of the path a significant challenge. The path should also be in an area that offers easy access to carry out repair activities. The next step in the installation of cables is obtaining permission from the concerned authorities, which is also very challenging as the cables pass through different countries. After permission is granted, the path is surveyed, and the cables are designed, manufactured, and loaded into ships. Any single mistake in any of these steps can result in the failure of the entire project. In the final step, cables are tested after the completion of the project before handing over the project to the owners. As each step in the process involves a lot of challenges that can result in the failure of the entire project, the laying and maintenance of cables are considered to be major challenges for the global electrical conductors market for the power industry.

This electrical conductors market analysis report for the power industry also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Electrical Conductors Market Vendors for the Power Industry?

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

 

  • 3M Co.
  • Alcon Marepha (Pty) Ltd.
  • Apar Industries Ltd.
  • CTC Global Inc.
  • Fujikura Ltd.
  • Furukawa Electric Co. Ltd.
  • Hi tech Conductors (p) Ltd.
  • Nexans SA
  • Prysmian Spa
  • Sterlite Power Transmission Ltd.

 

This statistical study of the electrical conductors market for the power industry encompasses successful business strategies deployed by the key vendors. The electrical conductors market for the power industry is fragmented and the vendors are deploying growth strategies such as the introduction of products with new features and technologies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electrical conductors market forecast report for the power industry offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Electrical Conductors Market for the Power Industry?

Electrical Conductors Market Market segmentation by region

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59% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for electrical conductors for the power industry in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.

The growing rate of urbanization and the rural electrification plans across many developing countries in APAC have raised the demand for electricity. This will facilitate the electrical conductors market growth for the power industry in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Electrical Conductors Market for the Power Industry?

Electrical Conductors Market Segmentation

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The electrical conductors market share growth for the power industry by the power cables segment will be significant during the forecast period. The energy demand is projected to almost double in APAC by 2030. There is an urgent need for innovative ways to generate power in a socially, economically, and environmentally sustainable manner. This has encouraged large-scale expansion and renovation activities associated with transmission and distribution (T&D) to ensure electricity access throughout APAC. Along with the growth in construction activities (both residential and commercial) as well as the flourishing industrial outlook in APAC, it is expected that the power cables segment will flourish.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electrical conductors market size for the power industry and actionable market insights on post COVID-19 impact on each segment.

 

Electrical Conductors Market Scope for the Power Industry

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.98%

Market growth 2021-2025

$ 9.47 billion

Market structure

Fragmented

YoY growth (%)

5.66

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 59%

Key consumer countries

China, India, US, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Alcon Marepha (Pty) Ltd., Apar Industries Ltd., CTC Global Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., Hi tech Conductors (p) Ltd., Nexans SA, Prysmian Spa, and Sterlite Power Transmission Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Electrical Conductors Market Report for the Power Industry?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electrical conductors market growth for the power industry during the next five years
  • Precise estimation of the electrical conductors market size for the power industry and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electrical conductors market for the power industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electrical conductors market vendors for the power industry

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Power cables - Market size and forecast 2020-2025
    • Transformer - Market size and forecast 2020-2025
    • Busbar - Market size and forecast 2020-2025
    • Submarine power cables - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 3M Co.
      • Alcon Marepha (Pty) Ltd.
      • Apar Industries Ltd.
      • CTC Global Inc.
      • Fujikura Ltd.
      • Furukawa Electric Co. Ltd.
      • Hi tech Conductors (p) Ltd.
      • Nexans SA
      • Prysmian Spa
      • Sterlite Power Transmission Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your sample now!
      Electrical Conductors Market for the Power Industry market growth will increase by $9.47 billion during 2020-2025.
      The electrical conductors market for the power industry market is expected to grow at a CAGR of 5.98% during 2020-2025.
      Technavio has segmented the electrical conductors market for the power industry market by application (Power cables, Transformer, Busbar, and Submarine power cables) and geographic (APAC, Europe, North America, South America, and MEA).
      3M Co., Alcon Marepha (Pty) Ltd., Apar Industries Ltd., CTC Global Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., Hi tech Conductors (p) Ltd., Nexans SA, Prysmian Spa, Sterlite Power Transmission Ltd. are a few of the key vendors in the electrical conductors market for the power industry market.
      APAC will register the highest growth rate of 59.45% among the other regions. Therefore, the electrical conductors market for the power industry market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the electrical conductors market for the power industry market growth are:
      • Rising investment in power (T&D)
      The electrical conductors market for the power industry market vendors should focus on grabbing business opportunities from the power cables segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis

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