Americas Cables Market

Top Companies in Americas Cables Industry - Prysmian Group (Italy), Southwire Company, LLC (US), Nexans (France), LS Cable & System Ltd (South Korea) and NKT a/s (Denmark)

The Americas Cables market is projected to reach USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period. The rising need for energy, improvements in infrastructure, and the expansion of renewable energy projects are driving growth in the cables market in North America. Different forms of insulation, which improve cable performance and longevity, such as XLPE (Cross-linked Polyethylene), EPR (Ethylene Propylene Rubber), EPDM (Ethylene Propylene Diene Monomer), and HPER (High-Performance Ethylene Rubber), assist the growth. The growing business is also being aided by low voltage cables, which are frequently utilized in both the commercial and residential sectors. In order to fulfill the region's growing energy needs and ensure efficiency and dependability in power distribution and communication networks, technological breakthroughs in cable insulation are essential.

The Americas Cables market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network.

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Prysmian Group (Italy),  Southwire Company, LLC (US), Nexans (France), LS Cable & System Ltd (South Korea) and NKT a/s (Denmark) are the market leaders in the Americas Cables market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share.

Prysmian Group (Italy),  manufactures underground and submarine cables and systems for power transmission and distribution applications, and medium- and low-voltage cables for the construction and infrastructure sectors. The company also produces a comprehensive range of optical fibers, copper cables, and connectivity systems for voice, video, and data transmission applications in the telecommunications vertical.

In June 2023, Prysmian Group signed a 3-year agreement with National Grid for a medium-voltage cable framework. According to the agreement, Prysmian Group will help the UK's electricity grid to distribute more electricity in the future as a key enabler for the energy transition. Medium-voltage cables will be supplied primarily from the Group’s manufacturing plant in Wrexham, North Wales. Also, Prysmian Group will assist National Grid in expanding and modernizing its power distribution network to meet the increasing demand for electricity.

Southwire Company, LLC (US), manufactures utility cables and wire products to deploy in power transmission and distribution networks and industrial and commercial buildings. The company offers products and solutions under five categories: wire & cable, tools & equipment, power management, lighting, and electrical components. Under the “wire & cable” product category, the company provides a wide variety of low-, medium-, and high-voltage power cables that include armored power cables; bare aluminum cables for overhead transmission and distribution lines

In September 2023, Resideo Technologies, Inc. signed a definitive agreement for the sale to Southwire Company, LLC of its Genesis Cable business, a leading low-voltage wire and cable manufacturer based in Pleasant Prairie, WI. This agreement will help Southwire to focus on innovation, service, and quality. Similarly in August 2023, Southwire Company, LLC partnered with NKT to supply underground power cables for the Champlain Hudson Power Express (CHPE) project. NKT will provide the cables through Southwire Company to transmit 1,250 megawatts of clean and renewable hydropower from the US–Canada border to Queens, N.Y. This is enough to power millions of homes in New York. The CHPE project will use a 339-mile totally buried HVDC transmission system to provide clean and renewable hydroelectricity using submerged and underwater cables.

Nexans (France), manufactures copper, aluminum, polyvinyl chloride (PVC), and lead cables for various industries, including building and construction, marine, oil & gas, and communications. It also provides a range of cables and cabling systems for power transmission and distribution applications and energy resources. The global consumers of the cable products offered by the company include telecommunication operators, cable installers, digital giants, and energy producers. The company operates through five business segments: Building & Territories, Industry Solutions, Generation & Transmission, Telecom & Data, and Other Activities. The company offers cables through its Building & Territories, and Generation & Transmission segments.

Nexans has a presence in the Americas, Africa, Asia, Europe, and Oceania. The company has production facilities in Norway and Japan. It has several offices and subsidiaries in the US, Canada, Mexico, Peru, Colombia, and Chile. It owns one of the world’s most powerful and best-equipped cable-laying vessels.
In April 2023, Nexans finalized the acquisition of Reka Cables, a Finnish manufacturer of high-, medium--, and low-voltage cables. This acquisition is expected to strengthen its position in Nordic markets and align with its goal of becoming a pure electrification player by 2030. Reka's premium cables and manufacturing plants complement Nexans' existing operations, expanding its reach and expertise in the electrification value chain. This acquisition will also help Nexans solidify its presence in the Nordics and advance its commitment to carbon neutrality.

LS Cable & System Ltd. (South Korea), is a supplier of submarines and extra-high voltage, high-temperature superconducting, and communications cables to power authorities, heavy electric equipment makers, and common carriers across the world. The company operates its business through five segments: Energy, Industrial Cables, Communication, Material, and Solutions.

It offers extra-high voltage cables, submarine cables, overhead lines, distribution cables, bus ducts, industrial specialty cables, industrial devices cables, automobile cables, tubes, optical cables, structured cabling systems, RF feeder systems, copper rods, and magnet wires to power generation, transmission, and distribution utilities; heavy equipment providers; and telecommunication companies. The company has 21 subsidiaries across North America and South America, Europe, the Middle East, and Asia.

In April 2023, LS Cable & System acquired an additional 6.29 million shares of KT Submarine, resulting in an increase of its stake to 43.8%. This acquisition enabled LS Cable & System to become the largest shareholder of KT Submarine and strengthened its position in the submarine cable market, which is a key business area.

NKT a/s (Denmark), is a global provider of turnkey AC/DC cable solutions for electrical infrastructure, construction, and railway projects. The company provides AC/DC high-end cables and cable accessories. It also offers medium-, high-, and extra-high-voltage offshore cables. The company offers products and solutions to power interconnections, hydroelectric and nuclear power plants, onshore and offshore wind farms, oil and gas platforms, and solar energy plants.

In October 2023, NKT expanded its facility in Sweden to meet the future demand for power cable accessories. Similarly in December 2023, NKT secured a contract from Icelandic TSO Landsnet for over 200 km of 66 kV power cables, facilitating upgrades to Iceland's renewable energy-powered grid. This supports reliable electricity distribution, crucial during harsh winters. NKT's selection reflects its proven capability to withstand Iceland's challenging installation conditions. The contract strengthened NKT's relationship with Landsnet and enhanced Iceland's grid efficiency and reliability. This collaboration aligns with European TSOs' and DSOs' investments to bolster grids for increasing electricity demands, underscoring NKT's role in supporting the transition to renewable energy and reinforcing its position in the market.

Related Reports:

Americas Cables Market by Polymer and Insulation Type (Semiconducting polymer, XLPE, EPR, HEPR, low Voltage Cables), Semiconducting Layer (Inner & Outer Semiconducting layer), Application, Voltage, End User & Region – Global Forecast to 2029

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Americas Cables Market Size,  Share & Growth Report
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