Cable Accessories Market Size, Share, Growth, Trends, and Global Industry Analysis: By Voltage (Low, Medium, High), By Installation (Overhead, Underground) By End User (Industrial, Renewable, Infrastructure & Others)  By Region Forecast to 2030.

Cable Accessories Market size was valued at US$ 59,392.8 million in 2023 and is projected to grow at 5.1% CAGR from 2024 – 2030. Cable accessories are parts that are used with cables for a variety of purposes including insulation and sealing, installation, design integrity, etc. Also cable accessories include duct seals, terminations, joints and splices to seal and insulate the cable from its surrounding environment. The key market drivers of market are growing use of polymeric insulation cable and the need for connection with paper insulation cable are the key factors expected to accelerate the market growth during the forecast period.

Moreover, increasing demand for reliable technology with long operating life also surge the growth of market over the forecast years. However, reasons behind market hindrance are lack of awareness about cable accessories amongst the general population, high cost associated with underground cables, and lack of skilled technicians and engineers in certain regions can limit the adoption of these advanced accessories slowing the overall growth of the  market. The availability of alternative technologies, such as wireless communication systems or non–cable solutions in certain sectors (like telecommunications or data transmission), poses a challenge to the market. The key opportunities of  market are favorable renewable energy policies in key countries.

For instance, some incentives such as feed-in tariffs, and tax credits have led to investors and project developers shifting towards renewable power generation. Moreover, the expansion of smart grid infrastructure, and modernization of power grids in reduce power losses and improve the reliability of cable accessories. The emerging key trends of market are increasing demand for smart infrastructure and rising utilization of renewable energy systems are positively influencing the market and global start-ups in the market are stepping forward to match the requirements of the customers.

Cable Accessories Market Key Developments

• In September 2021, French cable maker Nexans S.A. has made an agreement with Xignux SA of Mexico to acquire Centelsa, which is a high-end cable maker in Latin America specialized in the cable manufacturing business for building and utility applications.
• In March 2020, Elsewedy Electric launched in the company's factory at Ain Defla, Algeria three new products, joints & terminators for cables up to 66kv, solar cables, and coaxial cables.