Americas Cables Market Worth $10.9 Billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 28, 2024 /PRNewswire/ -- Americas Cables Market is expected to reach USD 10.9 billion by 2029 from USD 8.7 billion in 2024 at a CAGR of 4.5% during the forecast period according to a new report by MarketsandMarkets™.  The Americas Cables Market is seeing strong expansion, driven by a variety of segments. The insulation and polymer types such as HEPR, EPR/EPDM, XLPE, and semiconducting polymer guarantee improved cable performance, safety, and dependability at various voltage levels. In order to address the increasing need for power distribution and communication networks, low-voltage cables serve both the residential and commercial sectors. Using these cables—underground or underwater—ensures effective and dependable transmission, assisting with the development of infrastructure and renewable energy initiatives. Additionally, the integration of renewable energy sources, grid modernization, and industrial growth are driving up demand for cables, including those rated up to 138 kV.  The demand for innovative cable solutions is being driven by the industrial, commercial, and renewable energy sectors, which are important end-users that support economic growth, sustainability, and energy transition activities in the Americas.

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Americas Cables Market Scope:

Up to 5 kV, by voltage, is expected to be the fastest-growing segment during the forecast period. 

Based on voltage, the Americas Cables Market has been split into up to 5 kV, 5-8 kV, 8-15 kV, 15-35 kV, 35-46 kV, 69 kV, 115 kV, and 138 kV. The up to 5 kV cables are versatile, and used in both power distribution and specific industrial applications. They are suitable for energy supply in commercial buildings, industrial plants, and infrastructure projects, where moderate voltage and power are required. Additionally, compared to higher voltage cables, up to 5 kV cables are more cost-effective in terms of installation, maintenance, and operation. This makes them a preferred choice for projects with budget constraints that still require reliable power distribution.

The outer semiconducting layer segment, by semiconducting layer, is expected to be the second-fastest segment during the forecast period.

This report segments the Americas Cables Market based on the semiconducting layer into the inner semiconducting layer and outer semiconducting layer. Improved cable performance and safety are the primary drivers of market growth for the outer semiconducting layer in the semiconducting layer segment of the Americas Cables Market. By ensuring a consistent distribution of the electric field, this layer lowers the chance of insulation failure and electrical stress concentrations. It fits the strict criteria of industries like energy, telecommunications, and transportation by enhancing cable longevity and dependability, which greatly contributes to the rising need for sophisticated cable solutions in the area.

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South America is expected to be the second largest region in the Americas Cables Industry. 

South America's growing infrastructure spending, urbanization, and industrialization drive the growth of the Americas Cables Market. The demand for cutting-edge cable solutions is fueled by the region's emphasis on renewable energy projects, such as wind and solar farms. Market expansion is also aided by growing business sectors and the requirement for dependable electricity delivery in densely populated areas. The need for high-performance cables is fueled by modernization efforts and South America's changing energy landscape, which promotes the region's economic growth.

Key Players

Some of the major players in the Americas Cables Companies are Prysmian Group (Italy), Southwire Company, LLC (US), Nexans (France), LS Cable & System Ltd (South Korea) and NKT a/s (Denmark). The major strategies adopted by these players include sales contracts and agreements.

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High Voltage Cables and Accessories Market by Product Type (Cables (XLPE, EPR, HEPR, MI), Accessories (Joints, Termination, Fittings & Fixtures), Conductor Type (Aluminum, Copper), Installation, Voltage, End User & Region - Global Forecast to 2028

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