The global aluminum cable market was valued at $22.8 billion in 2022, and is projected to reach $38.1 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.
An aluminum cable is an electrical cable that utilizes aluminum conductors to carry electrical currents. Aluminum cables are commonly used in various applications, including power transmission, distribution, and electrical wiring in buildings and industrial settings. Aluminum cables are chosen for specific applications based on their properties and characteristics.
Aluminum cable possess favorable properties such as high tensile strength and high voltage wiring, which make it a preferred solution for manufacturers involved in manufacturing electronics components. Use of aluminum cables results in higher weight saving and improves the fuel economy than the traditional materials such as steel and copper. The U.S. Department of Energy (DOE) announced an investment of $19.7 million for the Vehicle Technologies Office to support R&D of advanced vehicle technologies, including batteries and lightweight & low-cost aluminum cable for the development of energy-efficient automobiles. Aluminum cables be employed in the battery management systems of EVs and HEVs, where they help in monitoring and controlling the battery's performance. Furthermore, aluminum cables are used in EV charging infrastructure to transmit high currents from the charging station to the vehicle's battery system. The lighter weight of aluminum cables makes them easier to handle and install in charging stations. These factors are expected to drive the market growth in the growing electronics industry during the forecast period.
Various major and emerging countries are imposing limits on free trade, which is expected to hamper the expansion of the aluminum cables market during the forecast period. Post-Brexit, trade restrictions between the UK and other European nations are likely to increase, while the new trade agreement between the U.S., Canada, and Mexico, imposed by the U.S. government is likely to increase the price of metal components imported from Mexico. According to the official journal of the European Union, the European Union imposed additional taxes on aluminum foil imported from China after the European Commission decided that Chinese producers benefited from disproportionate and unjustified subsidies. For instance, according to the official journal of the EU, tariffs on a specific thin grade of aluminum converter foil, which went into effect in December 2021, vary from 8.6% to 18.2% and are in addition to the existing anti-dumping taxes of 6% to 28.5%. Owing to the expected increase in production costs and tariffs, a decline in global free trade is projected to hamper the expansion of the market.
In both residential and non-residential environments, aluminum cables be used for wiring and connectivity. Human safety is ensured by the fact that aluminum cables are simple to install, preserve the dependability of electrical circuits, and tolerate high temperatures during fires. A rise in demand for aluminum cables has resulted in an increase in public awareness of the importance of building safety. These cables are used in the power distribution of nearly every commercial and residential structure. The aluminum cables market in the building & construction industry is offered lucrative opportunities as construction activities increase.
The aluminum cable market is segmented basis of type, application, and region. On the basis of type, the market is categorized Interlocking metal sheathed cable, flame retardant fire-resistant cable, others. On the basis of application, it is divided into transformers, motors, circuit breakers, electrical appliances, others, automobiles. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
An aluminum cable is an electrical cable that utilizes aluminum conductors to carry electrical currents. Aluminum cables are commonly used in various applications, including power transmission, distribution, and electrical wiring in buildings and industrial settings. Aluminum cables are chosen for specific applications based on their properties and characteristics.
Aluminum cable possess favorable properties such as high tensile strength and high voltage wiring, which make it a preferred solution for manufacturers involved in manufacturing electronics components. Use of aluminum cables results in higher weight saving and improves the fuel economy than the traditional materials such as steel and copper. The U.S. Department of Energy (DOE) announced an investment of $19.7 million for the Vehicle Technologies Office to support R&D of advanced vehicle technologies, including batteries and lightweight & low-cost aluminum cable for the development of energy-efficient automobiles. Aluminum cables be employed in the battery management systems of EVs and HEVs, where they help in monitoring and controlling the battery's performance. Furthermore, aluminum cables are used in EV charging infrastructure to transmit high currents from the charging station to the vehicle's battery system. The lighter weight of aluminum cables makes them easier to handle and install in charging stations. These factors are expected to drive the market growth in the growing electronics industry during the forecast period.
Various major and emerging countries are imposing limits on free trade, which is expected to hamper the expansion of the aluminum cables market during the forecast period. Post-Brexit, trade restrictions between the UK and other European nations are likely to increase, while the new trade agreement between the U.S., Canada, and Mexico, imposed by the U.S. government is likely to increase the price of metal components imported from Mexico. According to the official journal of the European Union, the European Union imposed additional taxes on aluminum foil imported from China after the European Commission decided that Chinese producers benefited from disproportionate and unjustified subsidies. For instance, according to the official journal of the EU, tariffs on a specific thin grade of aluminum converter foil, which went into effect in December 2021, vary from 8.6% to 18.2% and are in addition to the existing anti-dumping taxes of 6% to 28.5%. Owing to the expected increase in production costs and tariffs, a decline in global free trade is projected to hamper the expansion of the market.
In both residential and non-residential environments, aluminum cables be used for wiring and connectivity. Human safety is ensured by the fact that aluminum cables are simple to install, preserve the dependability of electrical circuits, and tolerate high temperatures during fires. A rise in demand for aluminum cables has resulted in an increase in public awareness of the importance of building safety. These cables are used in the power distribution of nearly every commercial and residential structure. The aluminum cables market in the building & construction industry is offered lucrative opportunities as construction activities increase.
The aluminum cable market is segmented basis of type, application, and region. On the basis of type, the market is categorized Interlocking metal sheathed cable, flame retardant fire-resistant cable, others. On the basis of application, it is divided into transformers, motors, circuit breakers, electrical appliances, others, automobiles. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aluminum cable market analysis from 2022 to 2032 to identify the prevailing aluminum cable market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aluminum cable market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aluminum cable market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Application
- Transformers
- Motors
- Circuit breakers
- Electrical appliances
- Automobile
- Others
By Type
- Interlocking Metal Sheathed Cable
- Flame Retardant Fire-resistant Cable
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- SAM Dong, Inc.
- Havells India Ltd
- Kflex Cables & Conductors
- Priority Wire & Cable, Inc.
- Vedanta Resources Limited
- Vimco Plast India
- Southwire Company, LLC
- Southern Cable Group Berhad
- Novametal SA
- Kaiser Aluminum Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ALUMINUM CABLE MARKET, BY TYPE
CHAPTER 5: ALUMINUM CABLE MARKET, BY APPLICATION
CHAPTER 6: ALUMINUM CABLE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the aluminum cable market was valued at $22.8 billion in 2022, and is estimated to reach $38.1 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.Aluminum cable, also known as aluminum electrical cable or aluminum cable, refers to electrical conductors made primarily of aluminum metal. It is used for power transmission and distribution in various applications, including residential, commercial, and industrial settings. Aluminum cables are an alternative to copper cables, which are used for electrical wiring. Aluminum is chosen as a conductor material due to its desirable properties, such as high conductivity, lightweight nature, and cost-effectiveness compared to copper. In addition, aluminum cables require proper installation techniques and connectors specifically designed for aluminum conductors. Owing to the differences in electrical and mechanical properties compared to copper, special considerations should be taken to ensure safe and reliable electrical connections when working with aluminum cables.
The need for aluminum cables has increased over the past several years as aluminum fasteners have become more prevalent. Many organizations have been striving to develop these alloy cables. The manufacturers have been creating and innovating to enhance conductivity, flexibility, bending ability, as well as mechanical strength, which is something that improves the automobile. The market for aluminum cable has had steady growth over the past few years and is expected to continue growing over the next few years. Aluminum cables are widely used in sectors like aerospace, consumer electronics and automotive. Aluminum is in greater demand in the automotive sector as it helps lighten vehicles and improves their fuel efficiency. In addition, governments support retailers by helping them increase their profit margins, observe steady market growth, and broaden their reach internationally.
Various major and emerging countries are imposing limits on free trade, which is expected to hamper the expansion of the aluminum cables market during the forecast period. Post-Brexit, trade restrictions between the UK and other European nations are likely to increase, while the new trade agreement between the U. S., Canada, and Mexico, imposed by the U. S. government is likely to increase the price of metal components imported from Mexico. According to the official journal of the European Union, the European Union imposed additional taxes on aluminum foil imported from China after the European Commission decided that Chinese producers benefited from disproportionate and unjustified subsidies. For instance, according to the official journal of the EU, tariffs on a specific thin grade of aluminum converter foil, which went into effect in December 2021, vary from 8.6% to 18.2% and are in addition to the existing anti-dumping taxes of 6% to 28.5%. Owing to the expected increase in production costs and tariffs, a decline in global free trade is projected to hamper the expansion of the market.
In the wind power industry, where large power transformers are used to connect wind turbines to the power grid, aluminum cables are commonly used in the windings due to their lightweight and cost advantages. Aluminum cables is used in substation transformers, where the voltage levels are lower, and cost considerations play a significant role in material selection. Aluminum cables are commonly used in dry-type transformers, where oil is not used as an insulating medium. Dry-type transformers are commonly found in indoor applications and areas with stringent fire safety requirements. In some specialized or custom transformer designs, aluminum cables might be preferred based on specific engineering requirements or cost considerations. This factor will boost the aluminum cable market by increasing demand for aluminum cable.
In both residential and non-residential environments, aluminum cables be used for wiring and connectivity. Human safety is ensured by the fact that aluminum cables are simple to install, preserve the dependability of electrical circuits, and tolerate high temperatures during fires. A rise in demand for aluminum cables has resulted in an increase in public awareness of the importance of building safety. These cables are used in the power distribution of nearly every commercial and residential structure. The aluminum cables market in the building & construction industry is offered lucrative opportunities as construction activities increase.
The aluminum cable market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized interlocking metal sheathed cable, flame retardant fire-resistant cable, and others. On the basis of application, it is divided into transformers, motors, circuit breakers, electrical appliances, others, and automobiles. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The global aluminum cable market profiles leading players that include Havells India Ltd, Kaiser Aluminum Corporation, Kflex Cables & Conductors, Novametal SA , Priority Cable & Cable, Inc., Sam Dong, Southern Cable Group Berhad, Southcable Company, LLC, Vedanta Resources Limited, and Vimco Plast India. The global aluminum cable market report provides in-depth competitive analysis as well as profiles of these major players.
Key Findings:
On the basis of type, the interlocking metal sheathed cable segment is expected to grow at a CAGR of 5.3%, in terms of revenue, during the forecast period.Depending on application, the automobile segment is expected to grow at a CAGR of 5.1%, in terms of revenue, during the forecast period.
Region wise, Asia-Pacific garnered almost 50% of total aluminum cable market share in 2022 in terms of revenue.
North America garnered a share of around 20% in 2022 in terms of revenue.
Companies Mentioned
- SAM Dong, Inc.
- Havells India Ltd
- Kflex Cables & Conductors
- Priority Wire & Cable, Inc.
- Vedanta Resources Limited
- Vimco Plast India
- Southwire Company, LLC
- Southern Cable Group Berhad
- Novametal SA
- Kaiser Aluminum Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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