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Pulished Date April, 2021
ID: 10617
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Solar Cable Market Segmentation By Product Type (Copper and Aluminium Alloy), By Cable Type (Solid and Stranded Cables), By Application (Solar Panels Wiring, Underground Service Entrances and Service Terminal Connections), By End Users (Residential, Commercial and Industrial), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10617
Pages: 175

Solar Cable Market Size, Share, Growth Analysis (2021-2026):

The Global solar cable market was at USD 465.71 million in 2021 and is predicted to grow at a CAGR of 14.1% to reach a value of USD 1.641.92 million by the end of 2026. Solar Photovoltaic energy is an environmentally friendly technology and is predicted to play an important role in solving energy problems. The expansion of the solar photovoltaic industry is the main expansion driver of the solar cable market. The escalating use of solar cables in different applications and the rising number of solar projects in emerging economies complement the expansion of the industry. However, fluctuations in the costs of raw materials, such as copper, could hamper the expansion of the industry in the coming years.

A solar cable is an interconnection cable that is employed in the photovoltaic power generation industry to interconnect solar panels and other electrical components. Easy installation, UV resistance, lifetime reliability, exterior durability, flexibility, and stripping ability are some of the properties that make solar cables ideal for industrial applications. A solar cable is employed to interconnect solar panels and other electrical components in the photovoltaic power generation industry. Quick assembly, UV protection, lifetime reliability, outdoor durability, mobility, and stripping ability are some of the characteristics that make solar cables suitable for industrial applications. In accordance with environmental regulations, these cables are flame retardant and fully recyclable.

Solar Cable Market Trends:

Currently, copper-based cables meet the highest call, reflecting their multiple advantages over aluminum alloys such as flexibility, low resistivity, stability, robustness and better corrosion resistance. The stranded cable segment had a higher market share in terms of call, as it is very efficient in the flow of electricity.

Recent Developments in the Solar Cable Market Industry:

  • Finolex Cables, a leading power company in India announces its entry into the MCCB product category to strengthen its presence in the domestic and industrial switchgear market.
  • Southwire developed an enhanced UV protection photovoltaic cables for aboveground solar setup. Southwire's new sunlight resistant PV Super SSR cable provides a solution to penetrating sunlight, aging exposed solar cable sheaths on the ground.

Solar Cable Market Drivers

The solar photovoltaic industry is an environmentally friendly industry and is predicted to play a crucial role in solving energy problems. The development of the solar photovoltaic industry is the main factor driving the expansion of the global solar cable market. Also, the increase in the use of solar cables in various applications and the surge in the number of solar projects in emerging economies are complementing the expansion of the market. The expansion of the solar photovoltaic industry and the increase in the installed capacity of solar panels worldwide is the main factor that positively influences the market for solar cables. The growing awareness of the advantages associated with solar energy over traditional power generation technologies such as coal and gas has ensured a strong call for solar cable products. Support from various governments to foster the adoption of solar energy methods, technological advances in the quality of cables now highly efficient for energy transfer and resistant to weathering and UV radiation, and a growing awareness of the population. Urban in terms of their contribution to the environment through the use of solar energy are among the main drivers of the worldwide market for solar cables.

Restraints:

However, fluctuating prices of raw materials, such as copper, restrict theexpansion of this market.

Opportunities in the Solar Cable Market:

The global solar cables market has seen substantial expansion rates with a considerable CAGR over the past two decades. According to the report, the market for solar cable is predicted to grow more vigorously during the foreseen period and may also influence the worldwide economic structure with a higher revenue share. The market for solar cables also has the potential to affect its peers and the main market for solar cable systems, as the market expansion rate accelerates with escalating product call, disposable income expansion, innovative products, wealth of raw materials and evolution of consumer technologies.

Challenges:

The high cost of these cables, the significant need to further improve efficiency, lack of awareness in several rural areas of emerging economies, and longevity issues are some of the factors preventing the market from reaching its true potential.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021-2026

CAGR

14.1%

Segments Covered

By Type, Material, Deliver & Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

 

Market Leaders Profiled

General Cable Corporation, Atkore International Group Inc., Huber Suhner AG, Lumberg Connect GmbH, ReneSola Ltd, Ram Ratna Wires Ltd., Prysmian Group, Allied Wire& Cable, Taiyo Cable Tech Co. Ltd., Lapp Group, Eldra B.V, KBE Elektrotechnik GmbH, Ningbo Pntech New Energy Co., Ltd, Phoenix Contact GmbH Co. KG

Solar Cable Market Segmentation:

By product type:

  • Copper
  • Aluminum Alloy

Currently, copper-based cables meet the highest call, reflecting their multiple advantages over aluminum alloys such as flexibility, low resistivity, stability, robustness and better corrosion resistance.

By cable type:

  • Solid Cables
  • Standard Cables

In 2019, the standard cables segment had a higher market share in terms of call, as they are very efficient in the flow of electricity.

By application:

  • Solar Panels Wiring
  • Underground Service Entrances
  • Service Terminal Connections

By end-users:

  • Residential
  • Commercial
  • Industrial

Solar Cable Regional Analysis:

  • North America Solar CableIndustry includes U.S, Canada.
  • Europe Solar CableIndustry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia PacificSolar CableIndustry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America Solar CableIndustry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa Solar CableIndustry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

North America dominates the worldwide market for solar cables, and it is predicted to drive a sharp increase in call for products due to the region's attempts to reduce energy consumption domestically, raise awareness about the benefits of solar energy, and support changing weather conditions and economic expansion. of the renewable energy sector. For example, according to the US Department of Energy, the average cost of solar photovoltaic panels has dropped by more than 60% since 2010, stimulating market call for US solar cable power sources. In several states of the USA, the market call for finished products is concentrated and is predicted to remain stable during the foreseen period. Asia-Pacific dominated the worldwide market in 2017. This regional market is supposed to remain in the first position throughout the foreseen period, North America is also predicted to see a considerable increase in the coming years.

Solar Cable Market Key Players:

General Cable Corporation, Atkore International Group Inc., Huber Suhner AG, Lumberg Connect GmbH, ReneSola Ltd, Ram Ratna Wires Ltd., Prysmian Group, Allied Wire& Cable, Taiyo Cable Tech Co. Ltd., Lapp Group, Eldra B.V, KBE Elektrotechnik GmbH, Ningbo Pntech New Energy Co., Ltd, Phoenix Contact GmbH Co. KG, Havells are key players included in the Solar Cable market.

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Solar Cable Market, By Product Type                              

                                6.1.1 Copper     

                                6.1.2 Aluminum Alloy    

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Solar Cable Market, By Application                   

                                6.2.1 Solar Panels Wiring              

                                6.2.2 Underground Service Entrances    

                                6.2.3 Service Terminal Connections         

                                6.2.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.5 Y-o-Y Growth Rate Analysis             

                                6.2.6 Market Attractiveness Index          

                6.3 Solar Cable Market, By Cable Type                   

                                6.3.1 Solid Cables            

                                6.3.2 Standard Cables    

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

                6.4 Solar Cable Market, By End-User                      

                                6.4.1 Residential              

                                6.4.2 Commercial            

                                6.4.3 Industrial 

                                6.4.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.5 Y-o-Y Growth Rate Analysis             

                                6.4.6 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product Type   

                                7.2.3 By Application        

                                7.2.4 By Cable Type        

                                7.2.5 By End-User           

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product Type   

                                7.3.3 By Application        

                                7.3.4 By Cable Type        

                                7.3.5 By End-User           

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product Type   

                                7.4.3 By Application        

                                7.4.4 By Cable Type        

                                7.4.5 By End-User           

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product Type   

                                7.5.3 By Application        

                                7.5.4 By Cable Type        

                                7.5.5 By End-User           

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product Type   

                                7.6.3 By Application        

                                7.6.4 By Cable Type        

                                7.6.5 By End-User           

8. Key Player Analysis                                    

                8.1 General Cable Corporation                  

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Atkore International Group Inc                          

                8.3 Huber Suhner AG                    

                8.4 Lumberg Connect GmbH                      

                8.5 ReneSola Ltd                              

                8.6 Prysmian Group                       

                8.7 Allied Wire & Cable                 

                8.8 Taiyo Cable Tech Co. Ltd                       

                8.9 Lapp Group                

                8.10 Havells                       

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by end use,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  • Global Solar Cable Market By Region, From 2021-2026 ( USD Billion )

  • Global Solar Cable Market By Product Type, From 2021-2026 ( USD Billion )

  • Global Copper Market By Region, From 2021-2026 ( USD Billion )

  • Global Aluminum Alloy Market By Region, From 2021-2026 ( USD Billion )

  • Global Solar Cable Market By Application, From 2021-2026 ( USD Billion )

  • Global Solar Panels Wiring Market By Region, From 2021-2026 ( USD Billion )

  • Global Underground Service Entrances Market By Region, From 2021-2026 ( USD Billion )

  • Global Service Terminal Connections Market By Region, From 2021-2026 ( USD Billion )

  • Global Solar Cable Market By Cable Type, From 2021-2026 ( USD Billion )

  • Global Solid Cables Market By Region, From 2021-2026 ( USD Billion )

  • Global Standard Cables Market By Region, From 2021-2026 ( USD Billion )

  • Global Solar Cable Market By End-User, From 2021-2026 ( USD Billion )

  • Global Residential Market By Region, From 2021-2026 ( USD Billion )

  • Global Commercial Market By Region, From 2021-2026 ( USD Billion )

  • Global Industrial Market By Region, From 2021-2026 ( USD Billion )

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