ALUMINUM CABLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Global aluminum cable market is estimated to be valued at USD 25.23 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.  Aluminum cables are used in power transmission and distribution networks as these are  lightweight, corrosion resistance and high electrical conductivity. Aluminum as a material for cables offers 25% lower weight as compared to traditional copper cables, and thus, improves efficiency during the installation process. Moreover, aluminum cables provide high capacity or current-carrying capability allowing more current to pass through the same cable cross-section.  Growing investments towards upgrading aging grid infrastructure and expanding electricity access globally is expected to drive the aluminum cable market growth. Factors such as rising renewable energy integration, renovation of existing networks, and focus on minimizing transmission losses can boost demand for aluminum cables in the near future.

 Market Dynamics:

Global aluminum cable market is expected to witness robust growth due to increasing investments towards modernizing aging power grids. Global aluminum cable market growth is driven by  growth in renewable energy capacity additions worldwide, rising industrialization and infrastructure development activities particularly in emerging economies, and initiatives directed towards minimizing transmission and distribution losses. However, fluctuating raw material prices can hamper the market growth. Ongoing research & development activities to enhance aluminum cable conducting properties and environmental stability can drive the market growth. New product launches catering to specialized applications such as solar farms, transportation networks and offshore wind farms can offer lucrative opportunities for the aluminum cable market.

 Key Features of the Study:

• This report provides in-depth analysis of the global aluminum cable market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global aluminum cable market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include NEXANS, Prysmian S.p.A, Finolex Cables, Havells India, Polycab, Sterlite Technologies, Paraflex, Elson House, Vimco Plast, Emmflex Group, Modern Industries, KIE Industries, Cerro wire LLC, DUCAB, Encore Wire Corporation, South wire Company, LLC
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global aluminum cable market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aluminum cable market

Market Segmentation

• By Type:
• • Interlocking Metal Sheathed Cable
  • Flame Retardant Fire-resistant Cable
  • Others
• By Application:
• • Transformers
  • Motors
  • Circuit breakers
  • Electrical appliances
  • Automobile
  • Others
• By Regional:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • NEXANS
  • Prysmian S.p.A
  • Finolex Cables
  • Havells India
  • Polycab 
  • Sterlite Technologies
  • Paraflex 
  • Elson House
  • Vimco Plast
  • Emmflex Group 
  • Modern Industries
  • KIE Industries
  • Cerro wire LLC
  • DUCAB
  • Encore Wire Corporation
  • South wire Company, LLC