Global Solar Cables Market is valued at approximately USD 688.15 million in 2021 and is anticipated to grow with a healthy growth rate of more than 13.90% over the forecast period 2022-2029. A solar cable is an interlinked cable that is used for interconnecting solar panels and other electrical components in the photovoltaic power generation industry. The Solar Cables market is expanding because of factors such as increasing demand for solar-based projects and rising sustainable approaches in climatic conditions.
Solar and photovoltaic cable systems are those that are used for the transmission of power in a solar or PV installation. Its prevalence has progressively increased during the last few decades. According to Statista, by 2024, solar PV demand is expected to total 125.2 gigawatts around the world. Furthermore, investments in solar energy as per Statista, in 2022, new investments in solar energy projects worldwide totalled around USD 59 billion. Another important component driving space is the rising sustainable approach in climatic conditions. As per Statista, between 2021 and 2030, the global green technology and sustainability market are forecast to grow. In 2021, the size of this market amounted to roughly USD 38.17 billion. Moreover, it is expected to peak at USD 417.35 billion by 2030, increasing at a compound annual growth rate of 21.6%. In addition, as of 2020, 45% of consumers surveyed stated that they were interested in finding brands that were sustainable or environmentally responsible. Likewise, 44% of consumers stated that they were interested in brands that supported recycling. Also, rising technological advancements in the solar photovoltaic industry and increasing adoption of microgrids would create a lucrative growth prospectus for the market over the forecast period However, the high cost of Solar Cables stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Solar Cables Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising awareness of solar panels and growing adoption of clean energy sources. According to Statista, in 2021, net solar power generation in the United States reached its highest point yet at 114.7 terawatt hours of solar thermal and photovoltaic power. Solar power generation has increased drastically over the past two decades. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing awareness about renewable energy resources and their applications in various segments such industrial and residential projects in the market space.
Major market players included in this report are:
- General Cable Corporation
- Lumberg Holding
- Phoenix Contact GmbH&Co. KG
- Taiyo Cable Tech Co., Ltd
- KBE Elektrotechnik GmbH
- Eldra B.V
- Amphenol Industrial Products Group
- Prysmian Group
- Emeren Group Ltd.
- Havells India Ltd
Recent Developments in the Market:
- In Jan 2022, - Amphenol Industrial Sustainable Technologies, a global leader in interconnect systems, offers a single pole power connector that is designed to exceed the performance of the UTX and H4 family of PV connectors. The Amphe-PV H4 Plus is dual-certified at 1500V DC to UL 6703 and IEC 62852. It enables robust thermal shock performance, exceeds UL dry heat and damp heat exposure requirements.
Global Solar Cables Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Material, Application, Type, End User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Material
By Type
- Stranded
- Bifurcated Solid
By End User
- Residential
- Commercial
- Industrial
- Utility
By Application
- Solar Panels Wiring
- Underground Service Entrances
- Service Terminal Connections
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
- 1.2.1. Solar Cables Market, by Region, 2019-2029 (USD Million)
- 1.2.2. Solar Cables Market, by Material, 2019-2029 (USD Million)
- 1.2.3. Solar Cables Market, by Type, 2019-2029 (USD Million)
- 1.2.4. Solar Cables Market, by End User, 2019-2029 (USD Million)
- 1.2.5. Solar Cables Market, by Application, 2019-2029 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Solar Cables Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Solar Cables Market Dynamics
- 3.1. Solar Cables Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand of solar based projects
- 3.1.1.2. Rising sustainable approach in climatic conditions
- 3.1.2. Market Challenges
- 3.1.2.1. Fluctuating prices of raw materials
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising technological advancements in the solar photovoltaic industry
- 3.1.3.2. Increasing adoption of microgrids
Chapter 4. Global Solar Cables Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Solar Cables Market, by Material
- 6.1. Market Snapshot
- 6.2. Global Solar Cables Market by Material, Performance - Potential Analysis
- 6.3. Global Solar Cables Market Estimates & Forecasts by Material 2019-2029 (USD Million)
- 6.4. Solar Cables Market, Sub Segment Analysis
- 6.4.1. Copper
- 6.4.2. Aluminium
- 6.4.3. Others
Chapter 7. Global Solar Cables Market, by Type
- 7.1. Market Snapshot
- 7.2. Global Solar Cables Market by Type, Performance - Potential Analysis
- 7.3. Global Solar Cables Market Estimates & Forecasts by Type 2019-2029 (USD Million)
- 7.4. Solar Cables Market, Sub Segment Analysis
- 7.4.1. Stranded
- 7.4.2. Bifurcated Solid
Chapter 8. Global Solar Cables Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Solar Cables Market by End User, Performance - Potential Analysis
- 8.3. Global Solar Cables Market Estimates & Forecasts by End User 2019-2029 (USD Million)
- 8.4. Solar Cables Market, Sub Segment Analysis
- 8.4.1. Residential
- 8.4.2. Commercial
- 8.4.3. Industrial
- 8.4.4. Utility
Chapter 9. Global Solar Cables Market, by Application
- 9.1. Market Snapshot
- 9.2. Global Solar Cables Market by Application, Performance - Potential Analysis
- 9.3. Global Solar Cables Market Estimates & Forecasts by Application 2019-2029 (USD Million)
- 9.4. Solar Cables Market, Sub Segment Analysis
- 9.4.1. Solar Panels Wiring
- 9.4.2. Underground Service Entrances
- 9.4.3. Service Terminal Connections
Chapter 10. Global Solar Cables Market, Regional Analysis
- 10.1. Solar Cables Market, Regional Market Snapshot
- 10.2. North America Solar Cables Market
- 10.2.1. U.S. Solar Cables Market
- 10.2.1.1. Material breakdown estimates & forecasts, 2019-2029
- 10.2.1.2. Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.3. End User breakdown estimates & forecasts, 2019-2029
- 10.2.1.4. Application breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada Solar Cables Market
- 10.3. Europe Solar Cables Market Snapshot
- 10.3.1. U.K. Solar Cables Market
- 10.3.2. Germany Solar Cables Market
- 10.3.3. France Solar Cables Market
- 10.3.4. Spain Solar Cables Market
- 10.3.5. Italy Solar Cables Market
- 10.3.6. Rest of Europe Solar Cables Market
- 10.4. Asia-Pacific Solar Cables Market Snapshot
- 10.4.1. China Solar Cables Market
- 10.4.2. India Solar Cables Market
- 10.4.3. Japan Solar Cables Market
- 10.4.4. Australia Solar Cables Market
- 10.4.5. South Korea Solar Cables Market
- 10.4.6. Rest of Asia Pacific Solar Cables Market
- 10.5. Latin America Solar Cables Market Snapshot
- 10.5.1. Brazil Solar Cables Market
- 10.5.2. Mexico Solar Cables Market
- 10.5.3. Rest of Latin America Solar Cables Market
- 10.6. Rest of The World Solar Cables Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. Company Profiles
- 11.2.1. General Cable Corporation
- 11.2.1.1. Key Information
- 11.2.1.2. Overview
- 11.2.1.3. Financial (Subject to Data Availability)
- 11.2.1.4. Product Summary
- 11.2.1.5. Recent Developments
- 11.2.2. Lumberg Holding
- 11.2.3. Phoenix Contact GmbH&Co. KG
- 11.2.4. Taiyo Cable Tech Co., Ltd
- 11.2.5. KBE Elektrotechnik GmbH
- 11.2.6. Eldra B.V
- 11.2.7. Amphenol Industrial Products Group
- 11.2.8. Prysmian Group
- 11.2.9. Emeren Group Ltd.
- 11.2.10. Havells India Ltd
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption