The global solar cables market size is expected to grow high in the forthcoming years. Global warming has been a matter of concern for quite some time now. This could be attributed to greenhouse gases being emitted, along with air pollution rising at an alarming rate. Therefore, using renewable source (s) of energy is turning out to be one of the best courses of action. Solar energy is being looked upon as a viable option, with lifetime returns on investment.
Solar cables, as the name suggests, are interconnection cables used in photovoltaic power generation industry to interconnect solar panels along with the other electric components. The solar cables market is basically driven by advantages like lifetime reliability, easy installation, flexibility, outdoor durability, and stripability. As these cables are 100% recyclable and flame retardant along with adhering to the environmental regulations, continuous ringing of cash registers is expected in the years to come.
Besides, solar photovoltaic industry does play a vital role in resolution of energy problems. The emerging economies are expected to benefit a great deal out of this renewable source of energy. Plus, solar energy is available in abundance in the economies like India and the other countries of Southeast Asia.
The industrial sector has extensively started switching to solar energy looking at the future prospects in this regard. At the same time, raw materials like copper do show fluctuation in prices, which is bound to be a restraining factor to the solar cables market.
The solar cables market, by material, spans aluminum, copper, and others. By application, it consists of non-residential (office & commercial, institutional, industrial, hospitality & leisure, and others (airport terminals and hospitals) and residential.
Non-Residential Segment to Have a High Share
The non-residential segment has been ruling the roost since the last decade. However, increasing awareness amongst the people regarding benefits of solar cables is compelling even the residential segment to opt for solar cables. As far as material is concerned, copper is preferred due to higher life-span.
Moreover, copper-based cables are there with better resistance against corrosion, stability, and flexibility in comparison with the aluminum counterparts. Amongst the types of cable, there are standard and solid cables. The former one is highly effective due to proper electricity flow. The cables find their way through wiring, underground service entrances, and several service terminal connections. So, copper continues to be, and is expected to be the major revenue generator in the upcoming period. Though alternatives like titanium are being tried out, it will take a while for the end-users to think of titanium in parallel with copper.
By geography, the solar cables market includes North America (US, Canada), Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe), the Asia-Pacific (Japan, China, Australia, India, South Korea, and the rest of Asia-Pacific), LATAM (Mexico, Brazil, Argentina, and the rest of LATAM), and MEA (Saudi Arabia, South Africa, and the rest of MEA).
North America to Rule the Roost:
Out of these, North America is at the forefront with regards to revenue generation as it witnesses maximum imports therein. The Asia-Pacific and MEA are leading in terms of an effective use of solar energy. LATAM is expected to pick up pace in the forecast period with rapid industrialization in economies like Argentina and Brazil.
The key players in the solar cables market include Amphenol Industrial Products Group, Allied Wire & Cable, Inc., Eldra B.V., General Cable Corporation, KBE Elektrotechnik GmbH, Lapp Group, Lumberg Group, Phoenix Contact GmbH & Co. KG, Ningbo Pntech New Energy Co., Ltd., and Taiyo Cable Tech Co., Ltd. They are into the organic as well as inorganic mode of expansion for widening their scope all through the solar cables market. The inorganic modes of expansion include mergers, acquisitions, joint ventures, partnerships. Organic mode could be new product launches and/or upgradation of the existing product portfolio.
KEI PV solar cables have been designed such that they are conducive to outdoor long-term use, that too, under harsh and variable climate conditions. They have been tested and designed at usual maximum conductor temperature of 90 degree Celsius with 20K hours up to 120 degree Celsius. As such, the expected life-span is 3 decades under the normal conditions of usage. The standards adhered to include IEC 60228, class 5. The outer sheath is halogen-free, ozone resistant, and flame retardant in black color or black with red strips. AC voltage permitted at the max is 1 kV. The rated DC voltage is 1.5 kV. Spark test is 6000 Vac (8400 Vdc). The upper limit for DC voltage is 1.8 kV. These cables can withstand voltage between 6.5 kV ac and 15 kV DC.