According to a new report, published by KBV research, The Global Solar Cables Market size is expected to reach $2.1 billion by 2030, rising at a market growth of 11.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 147.5 million Units (Per 10 Feet) experiencing a growth of 11.3% (2019-2022).
The Solid segment is experiencing a CAGR of 14.1% during (2023 - 2030). These conductors can be used in specific applications with less critical flexibility, such as in smaller cables or connections within solar panels or low-current circuitry. In some cable designs, especially those with hybrid constructions, there might be intermittent sections along the cable length where solid core conductors are used. Thus, these factors are driving the demand of the segment.
The Commercial segment is generating the highest revenue in the Global Solar Cables Market by End-Use in 2022; thereby, achieving a market value of $969.4 Million by 2030. Many businesses prioritize sustainability and reducing their environmental impact. Utilizing solar power allows companies to demonstrate their commitment to renewable energy and environmental stewardship, which can be an essential aspect of their corporate social responsibility. Solar panels are a long-term investment for businesses, offering a reliable and consistent energy source. They provide a degree of energy cost predictability and stability, reducing reliance on fluctuating energy prices from traditional sources. Hence, the factors mentioned above are increasing the demand in the segment.
The Aluminum segment would exhibit a CAGR of 11.9% during (2023 - 2030). Aluminum is a light metal, making it advantageous when weight reduction is a priority, especially for long-distance transmission lines or where cable weight may affect structural integrity. Additionally, aluminum is generally less expensive. In instances where cost is a significant consideration, aluminum cables can be a more economical option for solar installations, especially for large-scale projects. Thus, these qualities raise the demand for aluminum in solar cables.
The Asia Pacific region dominated the Global Solar Cables Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $904.9 Million by 2030. The Europe market is anticipated to grow a CAGR of 10.9% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 11.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/solar-cables-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Leoni AG, Nexans S.A., Prysmian Group, Belden, Inc., KEI Industries Limited, Havells India Ltd., Amphenol Corporation (Amphenol Industrial Products Group), Jainflex Cables Pvt. Ltd., HELUKABEL GmbH, and Top Cable S.A.
By Type (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
By End-Use(Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
By Material Type (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
By Geography (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
Companies Profiled
Unique Offerings 
