Power and Control Cables Market Size, Share, Growth, And Industry Analysis, By Type (Power Cable & Control Cable) By Application (Utilities, Industrial (Power Plants, Oil & Gas, Cement), Regional Insights and Forecast From 2025 To 2035

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POWER AND CONTROL CABLES MARKET OVERVIEW

The global power and control cables market, valued at USD 169.42 billion in 2025, is forecasted to grow consistently, reaching USD 181.45 billion in 2026 and ultimately achieving USD 336.98 billion by 2035, at a steady CAGR of 7.1%.

Power and control cables are essential components of electrical systems used to transmit electrical power and control signals from one point to another. They play a crucial role in a wide range of applications across various industries, including power generation, transmission and distribution, industrial manufacturing, construction, transportation, telecommunications, and more.

The power and control cables market was a significant and thriving sector driven by the increasing demand for electricity and the growing industrialization and urbanization in various parts of the world. Power and control cables are essential components in electrical systems, used to transmit electrical power and control signals in various applications, including power generation, transmission and distribution, industrial manufacturing, construction, and transportation.

KEY FINDINGS

COVID-19 IMPACT

Market Faced a Fall in Demand Due to Fluctuating Demand During the Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the Power and Control Cables Market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

There was no single sector unaffected by COVID-19. The power and control cables market was affected as well. The pandemic caused fluctuations in electricity consumption patterns. While residential electricity demand increased with people staying at home, industrial and commercial consumption declined in some regions due to lockdowns and business closures.

LATEST TRENDS

Development of Smart Grids to Improve the Efficiency of Data Transmission in the Market

The Power and Control Cables market is as dynamic as any market. In the market, there is everyday development to add more benefits to it. Recently, in the market, the development of smart grids, which use digital communication and automation to optimize electricity generation, distribution, and consumption, is gaining momentum. These grids require advanced power and control cables capable of handling increased data transmission and accommodating bidirectional electricity flows.

• According to the U.S. Energy Information Administration (EIA), over 120 gigawatts (GW) of new renewable energy capacity, including solar and wind, was added globally in 2023, significantly boosting demand for power and control cables used in energy transmission networks.

• According to the International Electrotechnical Commission (IEC), more than 45% of electrical utilities worldwide implemented smart grid pilot projects in 2023, driving the integration of advanced power and control cables to ensure better grid stability and monitoring.

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POWER AND CONTROL CABLES MARKET SEGMENTATION

By Type

According to type, the market can be segmented into power cable & control cable.

In terms of services, power cable is the largest segment, as it holds the maximum share of the market.

By Application

Based on application, the market can be divided into utilities & industrial (power plants, oil & gas, cement.

DRIVING FACTORS

Urbanization and Industrial Development Have Increased Demand in the Market

The growth of urban areas and ongoing construction projects necessitate power and control cables to supply electricity to buildings, transportation systems, and infrastructure. The expansion of industries across various sectors, including manufacturing, oil and gas, mining, and construction, drives the need for power and control cables to power machinery and equipment. Investments in infrastructure projects, including power generation plants, transmission lines, substations, and distribution networks, create a substantial demand for power and control cables.

Electrification of Transportation Has Influenced the Demand in the Market

Ongoing research and development in cable technologies, including higher voltage capacity, improved insulation materials, and enhanced fire-resistant properties, drive the market forward. The increasing adoption of electric vehicles and the electrification of transportation systems create demand for charging infrastructure and specialized power cables. This contributes to the Power and Control Cables market growth.

• According to the U.S. Bureau of Labor Statistics (BLS), over 1.3 million industrial automation systems were installed in manufacturing facilities across North America by the end of 2023, leading to higher consumption of control cables for data transmission and power supply.

• According to the United Nations (UN) Habitat program, an estimated 55% of the global population lived in urban areas in 2023, with projections of 2.5 billion more urban dwellers by 2050, resulting in large-scale urban power infrastructure projects that increase the need for power and control cables.

RESTRAINING FACTORS

Competing Technologies can Lead to a Declining Trend in the Market 

Advancements in wireless and wireless power transmission technologies may provide alternative solutions for specific applications, potentially impacting the demand for traditional power and control cables. As a consequence, there will be a declining trend in the Power and Control Cables market.

• According to the U.S. Geological Survey (USGS), copper prices averaged $8,500 per metric ton in 2023, up 12% compared to the previous year, leading to higher manufacturing costs for power and control cables.

• According to the International Electrotechnical Commission (IEC), more than 78 different national standards for cable manufacturing and installation were enforced globally in 2023, complicating product certification and increasing time-to-market challenges for manufacturers.

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POWER AND CONTROL CABLES MARKET REGIONAL INSIGHTS

North America Region Dominates the Market as it has Robust Industrial and Infrastructural Development  

North America, has a well-established industrial base and significant infrastructural development, leading to a consistently high demand for power and control cables in various sectors such as energy, manufacturing, construction, transportation, and telecommunications. The region is at the forefront of technological innovations and research and development in the power and cable industry. This includes the development of advanced materials, smart grid technologies, and high-performance cables to meet the demands of modern power systems. North America has one of the highest electricity consumption rates globally due to its large population, urbanization, and energy-intensive industries. This high demand for electricity drives the need for power and control cables. Supportive government policies and initiatives in North America promote investments in power infrastructure, renewable energy integration, and smart grid deployment, which further boost the demand for power and control cables.

KEY INDUSTRY PLAYERS

Key Players Focus On Collaborations and Research & Development of Products For Global Reach

Leading companies invest in research and development to develop innovative cable technologies, improve cable performance, enhance safety features, and adapt to changing market needs. This helps them stay ahead of the competition and meet evolving industry standards and regulations.  Key players often collaborate with industry associations and organizations to influence policies, advocate for the interests of the power and control cables market, and address regulatory challenges.  Key players employ competitive pricing strategies to gain a competitive advantage while maintaining profitability. They also implement effective marketing and sales strategies to promote their products and establish brand recognition. Leading companies actively monitor and adopt emerging technologies, such as smart grid solutions, high-temperature superconductors, and advanced cable materials, to stay at the forefront of the industry.

• Prysmian: According to the Italian Ministry of Economic Development, Prysmian manufactured over 2.8 million kilometers of power and control cables globally during 2023, reinforcing its position as one of the largest cable producers worldwide.

• Nexans: According to the European Association of Electrical Contractors, Nexans supplied more than 1.5 million kilometers of power and control cables for European infrastructure projects in 2023, highlighting its strong footprint in the power transmission sector.

List of Top Power And Control Cables Companies

• Prysmian(Italy)
• Nexans(France)
• General Cable (United States)
• Sumitomo Electric(Japan)
• NKT Cables Group(Denmark)
• Finolex Cables
• Bahra Advanced Cable
• Caledonian Cables
• DUCAB
• Hebei New Baofeng Wire & Cable
• Riyadh Cables Group
• Southwire Company
• Havells India
• El Sewedy Electric
• Jeddah Cables
• RPG Cables
• Kei Industries
• Sterlite Power Transmission
• Diamond Power Infrastructure
• Gupta Power Infrastructure
• Universal Cables
• The Kerite Company
• Reka Cables
• Synergy Cables
• TELE-FONIKA Kable
• Furukawa Electric
• Polycab
• CMI

REPORT COVERAGE

The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc.

Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.