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Global Solar Cables Market to reach USD 2220.22 million by the end of 2029.

Global Solar Cables Market Size study & Forecast, by Material (Copper, Aluminium, Others) By Type (Stranded, Bifurcated Solid) By End User (Residential, Commercial, Industrial, Utility) By Application (Solar Panels Wiring, Underground Service Entrances, Service Terminal Connections) and Regional Analysis, 2022-2029

Product Code: EPRE-76939604
Publish Date: 17-04-2023
Page: 200

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 player 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:
Ø 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
Bifurcated Solid

By End User

By Application
Solar Panels Wiring
Underground Service Entrances
Service Terminal Connections

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

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 Increasing demand of solar based projects Rising sustainable approach in climatic conditions
3.1.2. Market Challenges Fluctuating prices of raw materials
3.1.3. Market Opportunities Rising technological advancements in the solar photovoltaic industry 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 Material breakdown estimates & forecasts, 2019-2029 Type breakdown estimates & forecasts, 2019-2029 End User breakdown estimates & forecasts, 2019-2029 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 Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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