Global Photovoltaic Solar Cables Market Powering the Green Revolution | Forecast 2023 to 2030 | Prysmian, Nexans, Lapp Group, Eland Cables

PRESS RELEASE
Published October 26, 2023

By 2030, the Photovoltaic Solar Cables Market is projected to reach USD 1.949 billion, expanding at a CAGR of 13.90%. The industry is being pushed by rising solar PV system installations globally, government programs to support renewable energy, and falling solar panel prices. Solar cables are specialized cables that are used in solar PV systems to link solar panels to other electrical parts.

Although the Photovoltaic Solar Cables Market is still in its infancy, it is expanding quickly. A small number of significant firms, including Prysmian, Nexans, and Helukabel, dominate the market. Nevertheless, a number of new competitors are entering the market, which is anticipated to boost competition and lower prices.  The market for photovoltaic (PV) solar cables was first established in the early 2000s along with the expansion of the solar sector. However, it has expanded quickly in recent years due to the widespread usage of solar energy.

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The Key companies profiled in the Photovoltaic Solar Cables Market:

The study examines the Photovoltaic Solar Cables Market’s competitive landscape and includes data on Prysmian, Nexans, Lapp Group, Eland Cables, Amphenol Industrial, KBE Elektrotechnik, Leoni, Alfanar, Phoenix Contact, AEI Cables, HELUKABEL, KEI Industries, Jainflex Cables, RR Kabel, Siechem Technologies, Finolex, Hyand Cable, Top Cable, Central Plain Cables and Wires, Yueqing Feeo Electric, Changzhou Painuo Electronic, Shanghai Jiukai Wire & Cable & Others.

Global Photovoltaic Solar Cables Market Split by Product Type and Applications

This report segments the Photovoltaic Solar Cables Market on the basis of Types:
Copper Solar Cables
Aluminum Solar Cables
Others

On the basis of Application, the Photovoltaic Solar Cables Market is segmented into:
Residential
Commercial
Industrial
Utilities

Aluminum cables are an appealing alternative for large-scale solar installations since they are lighter and less expensive than copper wires. To transport the same amount of electricity, they must have a bigger diameter since they are less conductive than copper cables. More resilient and resistant to UV rays, heat, and cold, new cable insulation materials are being developed. This is crucial for solar cables since they must be able to endure the challenging outside conditions.

The greatest Photovoltaic Solar Cables Market are in the Asia-Pacific area, followed by North America and Europe. Due to the rapidly expanding solar energy industry in the area, the Asia-Pacific region is anticipated to be the largest market for photovoltaic solar cables over the projected period.

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Research Methodology: The research for the photovoltaic solar cables market involved a comprehensive analysis of primary and secondary data sources. Primary research included interviews with key industry players, while secondary research encompassed market reports, company websites, and industry publications. Market size and growth were estimated through a combination of top-down and bottom-up approaches, factoring in industry trends, regulations, and technological advancements.

Market Key Points: The photovoltaic solar cables market is driven by the increasing adoption of solar energy solutions, leading to a rising demand for efficient and durable cables. Key market points include the significance of cable quality in photovoltaic systems, the influence of government policies on market growth, and the role of sustainable energy practices in shaping the industry’s future.

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