The Europe cable accessories market size reached US$ 13.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
Cable accessories are an integral part of the power cable system used for the transmission and distribution (T&D) of electricity from the point of generation to consumption and across the distribution cable networks. They are used to connect cables with insulation materials that protect the wires from degradation and erosion due to environmental stress and ultraviolet (UV) light. Some standard cable accessories include power cable joints, terminations, connectors, cable lugs and heat-shrinkable cable breakouts. These accessories play a crucial role in providing strength to cables and reliable service over long operating life.
The Europe cable accessories market is primarily driven by government initiatives to improve the T&D systems, with an increase in power demand and the introduction of favorable renewable energy policies. Besides this, the European Union has established a target of 20% of its total electricity consumption from renewables by 2020. With the ever-increasing adoption of smart grids, the demand for power cables and related accessories, such as terminations, joints, and bushings, is anticipated to grow. As a result, some of the vendors have started providing cable accessories for smart grid technology. For instance, the 3M Company offers QS20, a sensor-equipped cable accessory that can be used to measure real-time data related to the current and voltage. It is designed to work with transformers and air and gas-insulated switchgear.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Europe cable accessories market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on voltage, installation and end user.
Breakup by Voltage:
- Low Voltage Cable Accessories
- Medium Voltage Cable Accessories
- High Voltage Cable Accessories
Breakup by Installation:
- Overhead Cable Accessories
- Underground Accessories
Breakup by End User:
Breakup by Country:
- United Kingdom
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Voltage, Installation, End User, Country
||Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report:
- How has the Europe cable accessories market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Europe cable accessories market?
- What are the key regional markets?
- What is the breakup of the market based on the voltage?
- What is the breakup of the market based on the installation?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Europe cable accessories market and who are the key players?
- What is the degree of competition in the industry?