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Solar Cable Systems Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 137
  • SKU: IRTNTR70419
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The solar cable systems market share is estimated to reach a value of USD 1.55 billion from 2021 to 2026 at a CAGR of 11.8%.

The solar cable systems market has been broadly categorized into the following demographic segmentations: 

  • End-user - Utility and non-utility
  • Geography - APAC, Europe, North America, Middle East and Africa, and South America

This solar cable systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The solar cable systems market report offers information on several market vendors, including ALLWYN CABLES, Amphenol Industrial Products Group, Belden Inc., Eland Cables Ltd., Havells India Ltd., HELUKABEL Romania Srl, Henan Central Plain Cables and Wires Co.Ltd, KBE Elektrotechnik GmbH, KEI Industries Ltd., LAPP Asia Pacific Pte. Ltd, Nexans AmerCable, Ningbo Pntech New Energy Co. Ltd, PARAMOUNT GROUP, Phoenix Contact GmbH and Co. KG, Prysmian Spa, RR Kabel Ltd., Siechem Technologies Pvt. Ltd., Spectrum Cable-Tech, Ultracab Ltd., and YUEQING FEEO ELECTRIC CO.LTD among others.

What will the Solar Cable Systems Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Solar Cable Systems Market Size for the Forecast Period and Other Important Statistics

 

Solar Cable Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for electricity is notably driving the solar cable systems market growth, although factors such as the intermittent nature of solar power 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 solar cable systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Cable Systems Market Driver

  • The increasing demand for electricity is one of the key drivers contributing to the solar cable systems market growth.
  • Rapid economic development in several developing countries, coupled with rapid urbanization and various energy access programs, are the major factors driving the demand for electricity across the world.
  • The high demand for electricity requires a higher level of power generation to meet the demand, which can be fulfilled through renewable sources of energy.
  • Asia witnessed the highest progress in extending access to electricity, with 870 million people gaining access to electricity during this period.
  • Rising awareness about environmental sustainability and favorable government incentives have encouraged countries to deploy renewable energy sources such as solar, biomass, and wind to power communities and households that still lack electricity. Thus, the increasing demand for electricity will drive the market for renewable energy, which, in turn, will propel the global solar cable systems market during the forecast period. 

Key Solar Cable Systems Market Trend

  • The declining price of components is one of the key solar cable systems market trends supporting the market growth.
  • The Solar Energy Technologies Office (SETO) of the US Department of Energy (DOE) develops various solar technologies to ensure cost reductions in the solar component industry.
  • In 2011, SETO introduced the SunShot Initiative to reduce the cost of solar power generation and encourage solar PV adoption. 
  • In September 2017, the US Department of Energy announced that the country's solar industry had successfully achieved its solar cost target of $0.06/kWh (kilowatt-hour) three years before the deadline of 2020. The industry is now working to achieve its next target of reducing the cost to $0.03/kWh by the year 2030. Thus, such factors should drive the growth of the global solar cable systems market during the forecast period.

Key Solar Cable Systems Market Challenge

  • The intermittent nature of solar power is one of the limitations restricting the solar cable systems market growth.
  • The output of solar power systems varies highly due to the change in the solar irradiation level at different times of the day and in different seasons.
  • The intermittent nature gives rise to the need for backup power to support the power demand and increases operations related to grid planning activities. However, some solar PV plants have a backup power system, but these still need to be improved.
  • Overcoming the intermittent nature of solar power still needs the use of advanced technology, whereas, in other renewable resources such as pumped hydropower, the systems make use of the reverse flow of water into the reservoir to generate energy. Thus, the intermittency of solar power affects the adoption of solar energy, which is expected to hinder the growth of the global solar cable systems market during the forecast period. 

This solar cable systems market analysis report 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 2022-2026.

Parent Market Analysis

Technavio categorizes the global solar cable systems market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the solar cable systems market during the forecast period.

Who are the Major Solar Cable Systems Market Vendors?

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

 

  • ALLWYN CABLES
  • Amphenol Industrial Products Group
  • Belden Inc.
  • Eland Cables Ltd.
  • Havells India Ltd.
  • HELUKABEL Romania Srl
  • Henan Central Plain Cables and Wires Co.Ltd
  • KBE Elektrotechnik GmbH
  • KEI Industries Ltd.
  • LAPP Asia Pacific Pte. Ltd
  • Nexans AmerCable
  • Ningbo Pntech New Energy Co. Ltd
  • PARAMOUNT GROUP
  • Phoenix Contact GmbH and Co. KG
  • Prysmian Spa
  • RR Kabel Ltd.
  • Siechem Technologies Pvt. Ltd.
  • Spectrum Cable-Tech
  • Ultracab Ltd.
  • YUEQING FEEO ELECTRIC CO.LTD

 

This statistical study of the solar cable systems market encompasses successful business strategies deployed by the key vendors. The solar cable systems market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

Product Insights and News

  • Amphenol-industrial.com - The company offers solar cable systems that include powerlink solar cable, solar PV cable, and copper should be case sensitive which is designed for highly efficient, reliable, cost-effective solutions for applications in harsh environments with extreme temperatures and rated for direct burial.
  • Belden.com - The company offers solar cable systems that include multi-pair cable, flat ribbon cable, and multi-conductor cable, which reduce electromagnetic interference and crosstalk with multi-pair electronic cable.
  • Elandcables.com - The company offers solar cable systems that include en 50618 solar cables, dc solar cables, solar dc main cables, and solar ac connection cables.

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 solar cable systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Solar Cable Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar cable systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Solar Cable Systems Market?

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54% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the solar cable systems market in APAC. Market growth in this region will be faster than the growth of the market in South America.

The increasing environmental concerns will facilitate the solar cable systems market growth 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.

COVID Impact and Recovery Analysis

According to the National Energy Administration of China, the country installed 47.6 GW of solar capacity in 2021 amid the COVID-19 pandemic, a decrease of 34% when compared to the 71.7 GW installed in 2020. However, the vaccination drives will have a positive impact on the solar cable systems market growth during the forecast period.

What are the Revenue-generating End-user Segments in the Solar Cable Systems Market?

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The solar cable systems market share growth by the utility segment will be significant during the forecast period. Solar utility projects have gained significant traction in recent years owing to the shifting focus toward sustainable sources along with several agreements, such as the Paris Agreement on Climate Change. Thus, increasing demand for electricity due to population growth worldwide will significantly propel the utility segment of the global solar cable systems market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar cable systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Solar Cable Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 11.8%

Market growth 2022-2026

$ 1.55 billion

Market structure

Fragmented

YoY growth (%)

14.93

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 54%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ALLWYN CABLES, Amphenol Industrial Products Group, Belden Inc., Eland Cables Ltd., Havells India Ltd., HELUKABEL Romania Srl, Henan Central Plain Cables and Wires Co.Ltd, KBE Elektrotechnik GmbH, KEI Industries Ltd., LAPP Asia Pacific Pte. Ltd, Nexans AmerCable, Ningbo Pntech New Energy Co. Ltd, PARAMOUNT GROUP, Phoenix Contact GmbH and Co. KG, Prysmian Spa, RR Kabel Ltd., Siechem Technologies Pvt. Ltd., Spectrum Cable-Tech, Ultracab Ltd., and YUEQING FEEO ELECTRIC CO.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 forecast period

Customization purview

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What are the Key Data Covered in this Solar Cable Systems Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive solar cable systems market growth during the next five years
  • Precise estimation of the solar cable systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar cable systems industry across APAC, Europe, North America, Middle East and Africa, 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 solar cable systems market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Utility - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Utility - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Utility - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Utility - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Utility - Year-over-year growth 2021-2026 (%)
    • 5.4 Non-utility - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Non-utility - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Non-utility - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Non-utility - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Non-utility - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by End-user
      • Exhibit 36: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Amphenol Industrial Products Group
              • Exhibit 89: Amphenol Industrial Products Group - Overview
              • Exhibit 90: Amphenol Industrial Products Group - Product / Service
              • Exhibit 91: Amphenol Industrial Products Group - Key offerings
            • 10.4 Belden Inc.
              • Exhibit 92: Belden Inc. - Overview
              • Exhibit 93: Belden Inc. - Business segments
              • Exhibit 94: Belden Inc. - Key news
              • Exhibit 95: Belden Inc. - Key offerings
              • Exhibit 96: Belden Inc. - Segment focus
            • 10.5 Eland Cables Ltd.
              • Exhibit 97: Eland Cables Ltd. - Overview
              • Exhibit 98: Eland Cables Ltd. - Product / Service
              • Exhibit 99: Eland Cables Ltd. - Key offerings
            • 10.6 Havells India Ltd.
              • Exhibit 100: Havells India Ltd. - Overview
              • Exhibit 101: Havells India Ltd. - Business segments
              • Exhibit 102: Havells India Ltd. - Key news
              • Exhibit 103: Havells India Ltd. - Key offerings
              • Exhibit 104: Havells India Ltd. - Segment focus
            • 10.7 HELUKABEL Romania Srl
              • Exhibit 105: HELUKABEL Romania Srl - Overview
              • Exhibit 106: HELUKABEL Romania Srl - Product / Service
              • Exhibit 107: HELUKABEL Romania Srl - Key offerings
            • 10.8 Henan Central Plain Cables and Wires Co.Ltd
              • Exhibit 108: Henan Central Plain Cables and Wires Co.Ltd - Overview
              • Exhibit 109: Henan Central Plain Cables and Wires Co.Ltd - Product / Service
              • Exhibit 110: Henan Central Plain Cables and Wires Co.Ltd - Key offerings
            • 10.9 KBE Elektrotechnik GmbH
              • Exhibit 111: KBE Elektrotechnik GmbH - Overview
              • Exhibit 112: KBE Elektrotechnik GmbH - Product / Service
              • Exhibit 113: KBE Elektrotechnik GmbH - Key offerings
            • 10.10 KEI Industries Ltd.
              • Exhibit 114: KEI Industries Ltd. - Overview
              • Exhibit 115: KEI Industries Ltd. - Business segments
              • Exhibit 116: KEI Industries Ltd. - Key offerings
              • Exhibit 117: KEI Industries Ltd. - Segment focus
            • 10.11 Prysmian Spa
              • Exhibit 118: Prysmian Spa - Overview
              • Exhibit 119: Prysmian Spa - Business segments
              • Exhibit 120: Prysmian Spa - Key news
              • Exhibit 121: Prysmian Spa - Key offerings
              • Exhibit 122: Prysmian Spa - Segment focus
            • 10.12 RR Kabel Ltd.
              • Exhibit 123: RR Kabel Ltd. - Overview
              • Exhibit 124: RR Kabel Ltd. - Product / Service
              • Exhibit 125: RR Kabel Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 126: Inclusions checklist
                • Exhibit 127: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 128: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 129: Research methodology
                • Exhibit 130: Validation techniques employed for market sizing
                • Exhibit 131: Information sources
              • 11.5 List of abbreviations
                • Exhibit 132: 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
              Technavio

              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
              Technavio

              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?
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              The solar cable systems market growth will increase by $1554.19 million during 2022-2026.
              The solar cable systems market is expected to grow at a CAGR of 11.8% during 2022-2026.
              Technavio has segmented the solar cable systems market by end-user (Utility and Non-utility) and geographic (APAC, Europe, North America, Middle East and Africa, South America, APAC, Europe, North America, MEA, and South America).
              ALLWYN CABLES, Amphenol Industrial Products Group, Belden Inc., Eland Cables Ltd., Havells India Ltd., HELUKABEL Romania Srl, Henan Central Plain Cables and Wires Co.Ltd, KBE Elektrotechnik GmbH, KEI Industries Ltd., LAPP Asia Pacific Pte. Ltd, Nexans AmerCable, Ningbo Pntech New Energy Co. Ltd, PARAMOUNT GROUP, Phoenix Contact GmbH and Co. KG, Prysmian Spa, RR Kabel Ltd., Siechem Technologies Pvt. Ltd., Spectrum Cable-Tech, Ultracab Ltd., YUEQING FEEO ELECTRIC CO.LTD are a few of the key vendors in the solar cable systems market.
              APAC will register the highest growth rate of 53.63% among the other regions. Therefore, the solar cable systems market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the solar cable systems market growth are:
              • Increasing demand for electricity
              • Declining price of components
              The solar cable systems market vendors should focus on grabbing business opportunities from the utility segment as it accounted for the largest market share in the base year.
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