The HVAC Cables Market caters to the cables and wires used in heating, ventilation, and air conditioning (HVAC) systems. HVAC cables function as a critical component in HVAC systems to provide power supply to system components such as motors, thermostats, electrical control panels and more. These cables help in transmission of data, control signals and power to efficiently run HVAC equipment such as chillers, air handlers, fans, duct heaters and others. Newly constructed commercial and residential buildings are increasingly installing HVAC systems to provide thermal comfort and indoor air quality thereby driving demand for HVAC cables. The Global HVAC Cables Market is estimated to be valued at US$ 18.12 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the HVAC Cables Market are ABB Ltd, Baosheng High Voltage Cable Co. Ltd, Furukawa Electric Co. Ltd, KEC International Ltd, LS Cable & System Ltd., Lutze Inc., Nexans S.A., NKT A/S, Prysmian Group, and Prysmian S.P.A. These players are focusing on new product launches and expansion strategies to gain market share. Growing demand - Rapid construction of residential & commercial buildings coupled with increasing size and capacity of HVAC systems is expected to drive HVAC Cables Market Demand during the forecast period. Countries in Asia Pacific and Middle East are expected to witness highest growth rates. Global expansion - Key players are investing in expanding their manufacturing facilities and distribution networks globally especially in developing countries to tap the larger untapped market potential. Players are also adopting partnerships and mergers & acquisitions strategies for business expansion. Market key trends The increasing emphasis on energy efficiency and reducing carbon footprint is driving demand for HVAC cables with low thermal heat dissipation and high conductivity properties. HVAC Cable Companies are developing cables integrated with optical fibers to enable data transmission for monitoring, preventive maintenance and connectivity of smart buildings. rising adoption of cross linked polyethylene (XLPE) insulated HVAC power cables owing to their excellent electrical insulation and flame retardant properties at higher temperature is a key trend.
Porter's Analysis Threat of new entrants: The HVAC Cables Market requires huge capital investment and established distribution networks deter new players. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of multiple vendors in the market. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitute raw materials. Threat of new substitutes: Threat from substitute products is low as HVAC cables have few direct substitutes. Competitive rivalry: The market is moderately competitive. Geographical Regions North America accounts for the major share in terms of value owing to rapid establishment of state-of-the-art commercial and residential buildings. Asia Pacific region is anticipated to witness fastest growth during the forecast period on account of massive ongoing and upcoming infrastructure developments across various countries.
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A power distribution cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath.
The assembly is used for transmission of electrical power.
Power cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed.In the last several years, global market of Power Distribution Cables develop rapidly, with an average growth rate of 9.85%.
In 2017, global revenue of Power Distribution Cables is nearly 74.7 billion USD.Power Distribution Cables is widely used in overland, underground and submarine.
The most proportion of Power Distribution Cables is overland, and proportion in 2017 is about 42.36%.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-power-distribution-cables-2019-2024-629According to this study, over the next five years the Power Distribution Cables market will register a 7.5% CAGR in terms of revenue, the global market size will reach US$ 130000 million by 2024, from US$ 90700 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Power Distribution Cables business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Power Distribution Cables market by product type, application, key manufacturers and key regions and countries.This study considers the Power Distribution Cables value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.HVMVLVSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.OverlandUndergroundSubmarineThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
