Aluminum Cable Market By Product Type (All-Aluminum Conductors (AAC), Aluminum Conductor Steel-Reinforced (ACSR), All-Aluminum Alloy Conductors (AAAC), Aluminum Alloy Conductor Steel-Reinforced (AACSR), Others); By Voltage (Low Voltage, Medium Voltage, High Voltage, Extra-High Voltage); By Installation (Overhead, Underground, Submarine); By Application (Power Transmission & Distribution, Building & Construction, Automotive, Aerospace, Telecommunications, Renewable Energy (Solar, Wind)); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The aluminum cable market was worth USD 42.1 billion in 2023 and will be worth USD 57.61 billion by 2030, growing at a CAGR of 4% during the forecast period.

 

The Growth of the Aluminum Cable market is expected due to rising demands for lightweight, low-cost cables with high sustainability in power distribution, construction industries, and automotive applications. Aluminum cables are 40 to 50% lighter and 40% cheaper than copper and this is important where weight is a very sensitive factor and contracts are large. For instance, the market for electric vehicles, where growth is anticipated to cross 20% year upon year, must adapt to aluminum cables to decrease vehicular mass while enhancing efficiency. Emerging trends include using aluminum cables in high-voltage transmission and renewable power systems since they are corrosion-resistant and cheaper to install. Aluminum cables are increasingly being adopted in the renewable energy sectors because of their economic and environmental benefits, and governments worldwide are now directing their investments towards refining the grid infrastructure. This trend regarding electrification and newly found renewable energy is noticeably improving the aluminium cable market.

 

The global market for Aluminum Cable is full of opportunities because it has a growing demand in the electric power transmission and distribution market with the increasing value of weightless and economical worth. Aluminum cables are 50% lighter and 30 to 40% more cost-effective than copper cables, making them suitable for renewable energy, electric vehicles, and infrastructure industries. As many researchers pointed out, the global energy demand is projected to rise by 25% by 2040, in which the aluminium cables provide the opportunity to expand the power grid at a relatively low cost. Recent innovations include the improvement of aluminum conductivity and reliability whereby aluminum cables are used in the transmission of high-voltage power. For instance, currently, there is a trend for aluminum as power transmission and distribution cables in utility-scale solar and wind power plants, especially in Europe and North America, because aluminum is lightweight and resists corrosion. As the trend towards renewable energy and electrification progresses, the market for aluminum cable has a good chance of growing.

 

Market Segmentation

By Product Type:

• All-Aluminum Conductors (AAC)

• Aluminum Conductor Steel-Reinforced (ACSR)

• All-Aluminum Alloy Conductors (AAAC)

• Aluminum Alloy Conductor Steel-Reinforced (AACSR)

• Others

 

By Voltage:

• Low Voltage

• Medium Voltage

• High Voltage

• Extra-High Voltage

 

By Installation:

• Overhead

• Underground

• Submarine

 

By Application:

• Power Transmission & Distribution

• Building & Construction

• Automotive

• Aerospace

• Telecommunications

• Renewable Energy (Solar, Wind)

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Asia-Pacific holds the lion's share in the Aluminum Cable market due to expansion and industrial development in countries such as China and India. It contributes over 50% of the worldwide demand for aluminum cables for power transmission, construction, and renewable energy investment. For instance, China is the leading manufacturer and the largest consumer of aluminum cables; the government has recently embarked on constructing more power lines due to the increasing demand for electric energy. New trends include China’s Belt and Road plan, which entails constructing a vast power network within many countries and increasing aluminum cable' use. Furthermore, the growth in electric vehicles and RE projects, especially in Asia-Pacific, reinforces Asia-Pacific’s hold because aluminum, which tends to be lighter and cheaper, is crucial in these applications. Such vigorous Infrastructure development and industry growth make the Asia-Pacific region the most dominant factor in the Aluminum Cable Market.

 

Key Players

• Southwire Company, LLC

• Nexans S.A.

• Prysmian Group

• General Cable

• Sumitomo Electric Industries, Ltd.

• LS Cable & System

• Hengtong Group

• Furukawa Electric Co., Ltd.

• Far East Cable Co., Ltd.

• Apar Industries