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

 

Aluminum Cable Market Segment Analysis

By Product Type:

Leading Segment: Aluminum Conductor Steel-Reinforced (ACSR)

The ACSR segment is the dominant player in the aluminum cable market, largely due to its high strength, durability & resistance to environmental factors, making it ideal for overhead power transmission and distribution. ACSR cables are rapidly used in the power industry, particularly in large-scale transmission lines. The steel reinforcement in these cables enhances their mechanical strength, making them suitable for long-distance & high-load applications. ACSR is commonly used in both urban & rural power grid systems. ACSR cables are widely employed in the power transmission networks of the United States and India.

Fastest-Growing Segment: All-Aluminum Alloy Conductors (AAAC)

AAAC cables are the fastest-growing segment due to their improved conductivity and lower weight compared to traditional ACSR cables. This makes them a preferred choice for both new installations & replacements in power distribution systems. AAAC is gaining traction in regions with high temperatures, as it provides better performance and reliability in such conditions. The growing adoption of renewable energy infrastructure, including solar & wind farms, is driving the demand for AAAC, as these cables are suitable for connecting renewable energy generation to the grid.

 

By Voltage:

Leading Segment: High Voltage

High-voltage aluminum cables are the dominant segment, primarily used in power transmission & distribution. These cables are crucial for transmitting large amounts of electrical power over long distances with minimal loss, making them ideal for high-capacity transmission lines. They are commonly used in major infrastructure projects, such as national & regional power grids. For instance, high-voltage aluminum cables are integral to large-scale transmission networks in countries like the United States and China.

Fastest-Growing Segment: Extra-High Voltage

Extra-high-voltage cables are experiencing rapid growth due to the rising demand for efficient long-distance transmission of electricity, especially in developing regions with expanding power grids. These cables, designed to carry extremely high voltage levels, are becoming more important in connecting renewable energy sources like offshore wind farms to national grids. Countries like India & China are investing heavily in extra-high-voltage transmission systems, fueling the growth of this segment.

 

By Installation:

Leading Segment: Overhead

Overhead installation dominates the aluminum cable market, as it is the most cost-effective and widely used method for power transmission. Overhead lines are easier to install, maintain, and repair, which contributes to their widespread use in both urban and rural areas. Aluminum cables, especially ACSR, are favored for overhead power lines due to their balance of strength, weight, and conductivity. The large-scale adoption of overhead lines in power grids across North America and Europe continues to support this segment’s dominance.

Fastest-Growing Segment: Underground

Underground installations are the fastest-growing segment due to the increasing need for aesthetic and safety-conscious power solutions in urban areas. The use of underground aluminum cables is growing in cities where overhead lines are impractical or undesirable. Moreover, underground cables are becoming more popular in new residential & commercial developments. This growth is also driven by the need to minimize the environmental impact of power transmission lines, particularly in densely populated areas.

 

By Application:

Leading Segment: Power Transmission & Distribution

The largest share of the aluminum cable market is in power transmission and distribution, which makes use of cables like ACSR and AAAC for transporting electricity from power plants to consumers. This segment is crucial for supporting national & regional power grids, especially in countries with large geographic areas or rapidly growing populations. The expansion of electricity grids in emerging economies, particularly in Asia & Africa, continues to drive demand for aluminum cables in this sector.

Fastest-Growing Segment: Renewable Energy (Solar, Wind)

The renewable energy sector, particularly wind & solar energy, is the fastest-growing application for aluminum cables. The global push for cleaner energy sources & the rapid expansion of renewable energy infrastructure is increasing the need for efficient transmission cables. Aluminum cables are used to connect renewable energy installations, such as wind farms & solar plants, to the grid. For example, offshore wind farms in Europe and the United States increasingly rely on aluminum cables for connecting turbines to shore-based grids. The growth of solar farms in countries like India and China is also driving demand for aluminum cables in the renewable energy sector.

 

By Region:

Leading Region: Asia Pacific

Asia Pacific is the leading region in the aluminum cable market, driven by the rapid industrialization & urbanization of countries like China, India & Japan. The region’s demand for electricity is growing rapidly, particularly in China, which is the world’s largest producer and consumer of aluminum cables. The rise in renewable energy projects & large-scale infrastructure developments in India and Southeast Asia further contributes to the demand for aluminum cables. The growing power grids and industrial expansion in this region are expected to sustain its leadership in the aluminum cable market.

Fastest-Growing Region: Latin America

Latin America is the fastest-growing region for the aluminum cable market, fueled by rising investments in infrastructure and renewable energy projects. Countries like Brazil and Mexico are leading efforts to expand their electricity transmission networks, including the use of aluminum cables for power distribution. The growing interest in solar & wind energy generation in Latin America is also a significant driver, with governments in the region incentivizing renewable energy investments. This trend is expected to continue as countries strive to meet renewable energy targets & expand their grid capacity.

 

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

 

Aluminum Cable Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 42.1 billion
Revenue Forecast in 2030	USD 57.61 billion
Overall Growth Rate	CAGR of 4%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Product Type, By Voltage, By Installation, By Application, By Region
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, Europe, Asia Pacific, LAMEA
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.