Power Cables Market Growth, Share, Size, Forecast And Analysis Report 2022-2027

02 Jan 2023

According to the latest report by IMARC Group "Power Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global power cables market reached a value of US$ 156.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 224.1 Billion by 2027, exhibiting a CAGR of 6.26% during 2022-2027.
A power cable is used to distribute electricity and comprises a conductor, insulation, bedding, armor, sheath, and outer serving or jacket. It is available as low-tension (LT) and medium and high-tension (HT) cables. It offers high electrical insulation properties and can withstand working voltage for a long time. It is utilized in the wiring of control panels and switchgear and complex control and instrumentation cables in power stations. As a result, the power cable is widely employed in the residential, industrial, commercial, and utility sectors across the globe.