Power Cables Market Size Growth Set to Surge Significantly during 2022-2027
The Power Cables Market Size anticipates growing at a spiraling pace during the forthcoming years. Power Cables are effective in reducing the shocks and vibrations that arise from friction. The demand for lowering friction in several high-speed machines is expected to significantly aid the market. Fortune Business Insights™ has presented this information in an upcoming report titled, “Power Cables Market, 2021-2028”. The report highlights the different factors boosting the market growth. For instance, aerodynamic bearings possess excellent features like longer service life, higher rotational power, and outstanding thermal stability. These features are expected to enhance market penetration and thereby increase the demand for aerodynamic bearings in several industries.
Report Coverage:
The report follows an innovative methodology using top-down and bottom-up approaches for a holistic assessment of the prospected market. The report also incorporates PESTLE Analysis and Porter’s Five Forces Analysis for an infallible prediction of the market. The information presented in the report is gathered through interviews with multiple stakeholders at regional, country, and global levels. The report presents data on the competitive landscape of the aerodynamic bearings market and highlights recent industry developments, including details on new product launches, key market trends, expansions, and acquisitions, etc.
Segmentation:
Segmentation
By Installation
Overhead
Underground
Submarine
By Cable Type
Low Voltage Cable
Medium Voltage Cable
High Voltage Cable
By Voltage
Up to 240V
240V – 1kV
1kV – 15kV
15kV – 100kV
100kV – 250kV
Above 250kV
By Application
Residential
Commercial
Industrial
Utility
Drivers & Restraints:
On account of the rising acceptance of renewable energy, the market for these power cables has received rapid pace during the past decade. The green energy goals set up by organizations of several countries and the global aim to reduce the usage of fossil fuel are the primary factors responsible for the market’s growth. As the main objective is the preservation of a sustainable environment, governing ozone layer reduction, along with declined global warming, renewable energy sources are believed to be the solution to these global issues.
Regional Insights:
North America to Bag the Largest Share of Growth
North America is anticipated to hold the largest slice in global Power Cables market share due to the existing regional players like Hovair Systems Inc., PI Nelson Air Corp, Honeywell International Inc., Capstone Turbine Corporation, etc.
Asia Pacific is expected to lay hold off a significant share in market growth. The increasing demand from the automotive industry is expected to immensely stimulate market growth. The smartphone market attributes to the large consumption of semiconductors, which is, in turn, spurring the Power Cables market growth. Being a global industrial manufacturing hub, China is expected to open new doors of opportunities for the aerostatic bearings market in the Asia Pacific.
Europe is expected to demonstrate significant growth during the forthcoming years. Major players like Bladon Jets, IBS precision Engineering, and Power Cables Ltd. are expected to positively affect the market growth. Also, the increasing adoption by the industrial sector for aerostatic bearings is expected to thrive in the market.
The Rest of the World is expected to show considerable growth, mainly due to the increasing demand in South America and the Middle East & Africa
List of Key Players in Power Cables Market:
Prysmian Group
ABB
Nexans
General Cable
NKT Cable
Encore Wire Corporation
Finolex Corporation
Brugg Cables
Riyadh Cable Group Company
Polycab India
and KEI Industries
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