The demand for cable accessories is projected to be US$ 50,960.0 million in 2022 and to increase at a CAGR of 6.1% to US$ 92,443.0 million from 2022 to 2032. The expansion is attributed to the expanding use of polymeric insulation cable worldwide.
The purpose of cable accessories is to connect cables, insulate the conductor from direct contact with the earth, and guard against deterioration and erosion of the cable due to environmental stress, ultraviolet light, and other medium. The cable accessories also give the cable the strength it needs to withstand environmental extremes and offer dependable service over a long operating life in overhead installations as well as underground ones.
All cable installation and distribution networks depend on cable accessories. With the help of these accessories, two cables with various types of insulation can be connected. In the past, low- and medium-voltage cables with paper insulation were used; however, today, fully polymeric insulation is preferred.
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Role of Start-ups in Cable Accessories Market
There are many prominent market players in the Cable Accessories Market such as Earth Cable Accessories Private Limited, Polyseal Cable Accessories Private Limited, Dowells Cable Accessories Private Limited, Fasten Cables and Accessories Private Limited, US Cable Management, and Elettrotek, among others that are working hand-in-hand to provide the best-in-class cable accessories for enhancing the global arena. However, there are many global start-ups in the Cable Accessories Market, that are stepping forward in matching the requirements of the Cable Accessories domain.
- In November 2021, Elettrotek Kabel S.p.A. acquired MB Group. The acquisition has been coordinated by Studio Baldi&Partners, located in Reggio Emilia, with a team led by lawyer Francesca Baldi and Saimon Conconi. This will allow Elettrotek Kabel to continue its development process, setting itself on the market as a group that has reached international dimensions.
Cable Accessories Market Competition
Some of the key participants present in the global Cable Accessories market include ABB Group, nkt cables group GmbH, Nexans S.A., Prysmian Group, Taihan Electric Wire Co. Ltd., Südkabel GmbH, PFISTERER Holding AG, Brugg Kabel AG, Yamuna Cable Accessories Pvt. Ltd. (YCAPL), and REPL International Ltd., among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as ABB Group, nkt cables group GmbH, Nexans S.A., and Prysmian Group, account for a considerable market size, several regional level players are also operating across key growth regions, particularly in Europe.
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Key Segments Profiled in the Cable Accessories Industry Survey
CABLE ACCESSORIES MARKET BY VOLTAGE:
- LV (low voltage) Cable Accessories
- MV (medium voltage) Cable Accessories
- EHV (Extra-High Voltage) Cable Accessories
- EHV (Extra-High Voltage) Cable Accessories
CABLE ACCESSORIES MARKET BY END-USE INDUSTRY:
- Cable Accessories for Railways
- Cable Accessories for Electric Power Industry
- Cable Accessories for Construction Industry
- Cable Accessories for Power transmission Industry
- Cable Accessories for Manufacturing Industry
- Others
CABLE ACCESSORIES MARKET BY TYPE:
- Joint & Terminations
- Din Lugs And Connectors
- Heat Shrink Shapes
CABLE ACCESSORIES MARKET BY REGION:
- North America Cable Accessories Market
- Latin America Cable Accessories Market
- Europe Cable Accessories Market
- Asia Pacific Cable Accessories Market
- Middle East & Africa Cable Accessories Market
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