The Europe Solar Cables Market would witness market growth of 10.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 24.9 million Units (Per 10 Feet), showcasing a growth of 10.7% (2019-2022).
Solar cables are widely recognized for their exceptional electrical characteristics, long lifespan, minimal power dissipation, and high efficiency, all critical for maximizing power production and minimizing power loss. Due to these characteristics, they are equally appropriate for large-scale solar farms and residential solar installations. In addition, solar cables are constructed with remarkable flexibility in mind, which facilitates their installation on challenging terrains or in irregular configurations. The inherent adaptability of this technology enables the smooth incorporation of solar panels into mobile or portable solar systems, rooftops, and remote locations.
These cables are extensively utilized in utility-scale solar initiatives and small-scale residential installations. Utility-scale projects, characterized by the deployment of extensive solar panel installations, rely heavily on solar cables as a critical infrastructure component to facilitate efficient power transmission. Solar cables enable householders to use solar energy to meet their daily electricity requirements in residential installations, which may reduce reliance on the conventional electrical grid and electricity costs.
In May 2022, the Commission implemented the EU solar energy strategy as a component of the REPowerEU initiative. This strategy delineates ongoing obstacles and difficulties within the solar energy domain and proposes measures to surmount them while expediting the implementation of solar technologies. It intends to have more than 320 GW of solar photovoltaic energy operational by 2025 and nearly 600 GW by 2030. Consequently, the expanding use of solar energy in the region drives up demand for solar cables.
The Germany market dominated the Europe Solar Cables Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $126.8 Million by 2030. The UK market is showcasing a CAGR of 9.9% during (2023 - 2030). Additionally, The France market would register a CAGR of 11.7% during (2023 - 2030).
Based on Type, the market is segmented into Stranded, and Solid. Based on End-Use, the market is segmented into Commercial, Residential, and Industrial. Based on Material Type, the market is segmented into Copper, Aluminum, Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Netherlands, and Rest of Europe.
Free Valuable Insights: The Global Solar Cables Market will Hit $2.1 Billion by 2030, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 Country (Volume, Million Units (Per 10 Feet), USD Billion, 2019-2030)
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