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Aluminum Cable Global Market Report 2023
(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinkerannounces the release of the report "Aluminum Cable Global market Report 2023" -
, Radcliff Wire Inc., and Emmflex.
The global aluminum cable market is expected to grow from $52.61 billion in 2022 to $56.34 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aluminum cable market is expected to reach $70.95 billion in 2027 at a CAGR of 5.9%.
The aluminum cable market consists of sales of aluminum power cables, aluminum building wires, aluminum control cables and aluminum welding cables.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aluminum cable refers to electrical cables that are made primarily of aluminum conductors. Aluminum cable is used for wiring power grids such as overhead power transmission lines, local power distribution lines, and the power wiring of some equipment and machines because it has a superior conductivity-to-weight ratio than copper.
North America was the largest region in the aluminum cable market in 2022. The regions covered in aluminum cable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aluminum cables include interlocking metal sheathed cable, flame retardant fire-resistant cable and others.Interlocking metal sheathed cable, also known as armored cable or MC cable, is a type of electrical cable that features a protective metal sheath surrounding the conductors.
They are classified based on grade into electrical, alloy and mechanical for applications in automobiles, transformers, motors, circuit breakers, electrical appliances and others.
The growing demand for electric vehicles is expected to propel the growth of the aluminum cable market going forward.Electric vehicles refer to vehicles that are powered by one or more electric motors using electrical energy stored in batteries or obtained from an external power source.
Aluminum cables offer excellent electrical conductivity, enabling efficient power transmission in electric vehicles, and are also used in electric vehicle chargers. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomintergovernmental organization, sales of electric cars doubled in 2021 to set a new record of 6.6 million, and the number of electric cars on the world's roads by the end of 2021 was about 16.5 million. Therefore, the growing demand for electric vehicles is driving the growth of the aluminum cable market.
Product innovations are a key trend gaining popularity in the aluminum cable market.Major companies operating in the aluminum cable market are developing innovative products to sustain their position in the market.
For instance, in May 2023, Nexans S.A., a France-based cable and fiber optic company, launched a new range of low-carbon aluminum distribution grid cables. This innovative approach significantly reduces greenhouse gas emissions associated with low- and medium-voltage electricity cables, achieving a remarkable 35–50% decrease depending on the specific product. The company now utilizes 100% low-carbon aluminum, aligning with the decarbonization standards set by the Aluminum Forward 2030 coalition. Additionally, up to 50% recycled plastic is incorporated into the insulation and sheathing of the cables.
In April 2023, Nexans SA, a France-based manufacturer of cable and optical fiber, acquired Reka Cables Ltd., for an undisclosed amount. The acquisition allows Nexans to expand its product portfolio as a pure electrification player and deliver high-quality and safe cables. The combined resources are expected to strengthen expertise across the Nordic region. Reka Cables Ltd. is a Finland-based producer of high-quality cables such as aluminum power cables, power cables, and medium and high voltage cables.
The countries covered in the aluminum cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aluminum cable market research report is one of a series of new reports that provides aluminum cable market statistics, including aluminum cable industry global market size, regional shares, competitors with an aluminum cable market share, detailed aluminum cable market segments, market trends and opportunities, and any further data you may need to thrive in the aluminum cable industry. This aluminum cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report:
About reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
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, Radcliff Wire Inc., and Emmflex.
The global aluminum cable market is expected to grow from $52.61 billion in 2022 to $56.34 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aluminum cable market is expected to reach $70.95 billion in 2027 at a CAGR of 5.9%.
The aluminum cable market consists of sales of aluminum power cables, aluminum building wires, aluminum control cables and aluminum welding cables.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aluminum cable refers to electrical cables that are made primarily of aluminum conductors. Aluminum cable is used for wiring power grids such as overhead power transmission lines, local power distribution lines, and the power wiring of some equipment and machines because it has a superior conductivity-to-weight ratio than copper.
North America was the largest region in the aluminum cable market in 2022. The regions covered in aluminum cable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aluminum cables include interlocking metal sheathed cable, flame retardant fire-resistant cable and others.Interlocking metal sheathed cable, also known as armored cable or MC cable, is a type of electrical cable that features a protective metal sheath surrounding the conductors.
They are classified based on grade into electrical, alloy and mechanical for applications in automobiles, transformers, motors, circuit breakers, electrical appliances and others.
The growing demand for electric vehicles is expected to propel the growth of the aluminum cable market going forward.Electric vehicles refer to vehicles that are powered by one or more electric motors using electrical energy stored in batteries or obtained from an external power source.
Aluminum cables offer excellent electrical conductivity, enabling efficient power transmission in electric vehicles, and are also used in electric vehicle chargers. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomintergovernmental organization, sales of electric cars doubled in 2021 to set a new record of 6.6 million, and the number of electric cars on the world's roads by the end of 2021 was about 16.5 million. Therefore, the growing demand for electric vehicles is driving the growth of the aluminum cable market.
Product innovations are a key trend gaining popularity in the aluminum cable market.Major companies operating in the aluminum cable market are developing innovative products to sustain their position in the market.
For instance, in May 2023, Nexans S.A., a France-based cable and fiber optic company, launched a new range of low-carbon aluminum distribution grid cables. This innovative approach significantly reduces greenhouse gas emissions associated with low- and medium-voltage electricity cables, achieving a remarkable 35–50% decrease depending on the specific product. The company now utilizes 100% low-carbon aluminum, aligning with the decarbonization standards set by the Aluminum Forward 2030 coalition. Additionally, up to 50% recycled plastic is incorporated into the insulation and sheathing of the cables.
In April 2023, Nexans SA, a France-based manufacturer of cable and optical fiber, acquired Reka Cables Ltd., for an undisclosed amount. The acquisition allows Nexans to expand its product portfolio as a pure electrification player and deliver high-quality and safe cables. The combined resources are expected to strengthen expertise across the Nordic region. Reka Cables Ltd. is a Finland-based producer of high-quality cables such as aluminum power cables, power cables, and medium and high voltage cables.
The countries covered in the aluminum cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aluminum cable market research report is one of a series of new reports that provides aluminum cable market statistics, including aluminum cable industry global market size, regional shares, competitors with an aluminum cable market share, detailed aluminum cable market segments, market trends and opportunities, and any further data you may need to thrive in the aluminum cable industry. This aluminum cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report:
About reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
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