Press release
Aluminum Cable Market Size, Outlook, Key Drivers, Report 2024 To 2033
The aluminum cable market size has grown strongly in recent years. It will grow from $56.34 billion in 2023 to $60.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to cost-efficiency, corrosion resistance, electrical conductivity, lightweight properties, and expanding power infrastructure.
The aluminum cable market size is expected to see strong growth in the next few years. It will grow to $75.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to renewable energy expansion, smart grid development, increased urban electrification, energy efficiency regulations, and sustainable construction practices. Major trends in the forecast period include technological advancements in manufacturing, infrastructure investments, energy efficiency and sustainability, growing demand in the construction sector, and market expansion in developing regions.
Market Overview -
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.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=10769&type=smp
Rising Electric Vehicle Adoption Ignites Surge In Aluminum Cable Market Growth
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 autonomous intergovernmental 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.
Competitive Landscape -
Major companies operating in the aluminum cable market report are Hitachi Cable Ltd, Asea Brown Boveri Ltd, Sumitomo Electric Industries Ltd., Jiangsu Hengtong Cable, Henan Jinlong Cable, Prysmian SpA, Nexans SA, Furukawa Electric, Leoni AG, Shanghai Nanshan Aluminum, Kaiser Aluminum Corporation, Encore Wire Corporation, Polycab Wires Pvt Ltd., NKT Cables AS, Havells India Limited, Sterlite Technologies Limited, Finolex Cables Limited, KEI Industries Limited, Eland Cables Limited, Southern Cable Group, Emmflex, RR Kabel Limited, Sam Dong Inc., Southwire Company LLC, Radcliff Wire Inc., General Cable Technologies Corporation, Guangdong Guangnan Wires & Cables, Canusa Cable Ltd, Vidyut Cables Pvt Ltd
Innovative Solutions 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.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/aluminum-cable-global-market-report
Key Segments -
The aluminum cable market covered in this report is segmented -
1) By Type: Interlocking Metal Sheathed Cable, Flame Retardant Fire-Resistant Cable, Other Types
2) By Grade: Electrical, Alloy, Mechanical
3) By Application: Automobile, Transformers, Motors, Circuit Breakers, Electrical Appliances, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The aluminum cable market size is expected to see strong growth in the next few years. It will grow to $75.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to renewable energy expansion, smart grid development, increased urban electrification, energy efficiency regulations, and sustainable construction practices. Major trends in the forecast period include technological advancements in manufacturing, infrastructure investments, energy efficiency and sustainability, growing demand in the construction sector, and market expansion in developing regions.
Market Overview -
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.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=10769&type=smp
Rising Electric Vehicle Adoption Ignites Surge In Aluminum Cable Market Growth
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 autonomous intergovernmental 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.
Competitive Landscape -
Major companies operating in the aluminum cable market report are Hitachi Cable Ltd, Asea Brown Boveri Ltd, Sumitomo Electric Industries Ltd., Jiangsu Hengtong Cable, Henan Jinlong Cable, Prysmian SpA, Nexans SA, Furukawa Electric, Leoni AG, Shanghai Nanshan Aluminum, Kaiser Aluminum Corporation, Encore Wire Corporation, Polycab Wires Pvt Ltd., NKT Cables AS, Havells India Limited, Sterlite Technologies Limited, Finolex Cables Limited, KEI Industries Limited, Eland Cables Limited, Southern Cable Group, Emmflex, RR Kabel Limited, Sam Dong Inc., Southwire Company LLC, Radcliff Wire Inc., General Cable Technologies Corporation, Guangdong Guangnan Wires & Cables, Canusa Cable Ltd, Vidyut Cables Pvt Ltd
Innovative Solutions 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.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/aluminum-cable-global-market-report
Key Segments -
The aluminum cable market covered in this report is segmented -
1) By Type: Interlocking Metal Sheathed Cable, Flame Retardant Fire-Resistant Cable, Other Types
2) By Grade: Electrical, Alloy, Mechanical
3) By Application: Automobile, Transformers, Motors, Circuit Breakers, Electrical Appliances, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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