PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1458542
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1458542
The Americas Cables market is estimated to grow from USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period. The market for cables in the Americas is expanding due to rising industry, urbanization, and infrastructure development. The need for cutting-edge cable solutions is also fueled by the growing demand for electricity, telecommunications, and renewable energy initiatives. Additionally, technological developments in the cable manufacturing industry, like the creation of smart cable systems and high-performance insulation materials, are driving market expansion.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | Polymer and Insulation type, Semiconducting Layer, Voltage rating, Application, End User and Region |
Regions covered | North America, South America, and Central America |
"Renewable Energy Sector segment is the fastest segment of the Americas Cables market, by end user."
Based on end user, the Americas Cables market has been split into three types: industrial, renewables, and commercial. The renewables segment growth is due to the rapid expansion of renewable energy projects like as solar and wind farms. For grid connectivity and power transfer, these projects need a lot of cabling. Growth in the renewable energy sector is also driven by rising government support for green energy, technological developments, and growing demand for sustainable energy solutions. High-quality cables appropriate for renewable energy applications, such as solar and wind power installations, are in high demand due to this expansion's requirement for reliable, effective power transmission and distribution systems.
"Inner Semiconducting Layer is expected to emerge as the fastest-growing segment based on semiconducting layer."
Based on semiconducting layer, the Americas Cables market has been segmented into inner semiconducting layer and outer semiconducting layer. The inner semiconducting layer segment of the Americas Cables Market is expected to be the fastest-growing due to its importance in increasing cable performance and dependability. By distributing the electric field uniformly and lowering electrical stress concentrations, this layer prolongs the life of cables and lowers the possibility of insulation failure.
"Underground is expected to be the largest segment based on application."
Demand for underground cables is increasing in the Americas Cables Market as urbanization and infrastructure development continue. When compared to overhead wires, they have many advantages, including improved dependability, decreased environmental effect, and visual attractiveness. Subterranean cables are becoming more and more in demand due to growing urbanization initiatives and the necessity for dependable power distribution in densely populated areas. As a result, they are becoming a major factor driving market expansion.
"North America is expected to emerge as the largest region based on Americas Cables market."
By region, the Americas Cables market has been segmented into Asia Pacific, North America, South America, and Central America. In the region, the Americas Cables market is expanding in North America because of the region's robust industrial infrastructure, which fuels demand from sectors including manufacturing, oil and gas, and the automotive industry; industrial end-users play a major role. Demand is also increased by the increased focus on renewable energy initiatives, especially in the US and Canada. The market is also driven by strong commercial industries like data centers and telecommunications. North America's dominance in the industry is further strengthened by the extensive usage of subterranean cables for urbanization projects and the deployment of submarine cables for offshore energy facilities.
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: North America- 50%, South America- 30% and Central America- 20%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The Americas Cables market is dominated by a few major players that have a wide regional presence. The leading players in the Americas Cables market are Prysmian Group (Italy), Southwire Company, LLC (US), Nexans (France), LS Cable & System Ltd (South Korea) and NKT a/s (Denmark).
The report defines, describes, and forecasts the Americas Cables market, polymer and insulation type, semiconducting layer, voltage, application, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the Americas Cables market.
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